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Shriram City Union Finance Increases Its FD Rates

Senior citizens will get 0.50 per cent higher interest rate. All the changes that have been made in the rules of FD and have been applicable from 20 May 2022

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After HDFC and ICICI, Federal banks have also changed the interest rates of fixed deposits. Shriram City Union Finance has recently increased its interest rates by 15 to 25 per cent. Changes in the new rates have been made in FDs ranging from 3 years to 5 years. The same old interest rate will continue for FDs of 1 to 2 years.

If a FD is done for 3 years, then one will get an increase of 25 basis points in the interest rate. For the same 4-year FD, the interest rate will increase by 20 points. Similarly, in a 60-month FD, 15 basis points will be added to the interest rate. Senior citizens will get 0.50 per cent higher interest rate. All the changes that have been made in the rules of FD and have been applicable from 20 May 2022.

It is worth noting that Shriram City Union Finance is a non-banking finance company. This company is mainly doing two wheeler finance. The focus of the company is more on rural areas.


Tags assigned to this article:
federal bank Shriram City Union Finance fixed deposits