NEW DELHI: Shriram City Union Finance Ltd. (Shriram City), a subsidiary of Shriram Group, on Wednesday introduced 25-50 foundation factors (bps) hike in its mounted deposit charges (FDs). One bps is the same as one hundredth of a proportion level.
Shriram City Union Finance gives financing to small companies and for two-wheeler purchases.
The new charges will likely be efficient from 1 August.
The firm has hiked charges on 12-month and 36-month FDs by 25 bps, whereas these with a tenure of 24 months noticed a hike of fifty bps. For FDs of 48-month and 60-month tenure, rate of interest has been raised by 35 bps.
View Full Image
Interest charges on FDs by means of common channels.
View Full Image
Interest charges on Fixed Deposits by means of the corporate web site.
“An further curiosity of 0.50% p.a will likely be paid to senior citizen depositors (accomplished age 60 years on the date of deposit/renewal),” the corporate mentioned in an announcement.
An annual further curiosity of 0.25% will likely be paid on all renewals, the place the deposit has matured, as per the assertion.
Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.
More
Less
Subscribe to Mint Newsletters
* Enter a legitimate e-mail
* Thank you for subscribing to our e-newsletter.
First article
