Shriram Finance Limited (SFL), an NBFC under the Shriram Group, has announced a revision in its Fixed Deposit (FD) interest rates. The new rates will be applicable from Thursday, May 2, 2025. The new rates have been announced due to a repo rate cut by the Reserve Bank of India (RBI) after a 25-basis-point cut each time since the start of the year.According to the NBFC, senior citizens aged 60 years or above at the time of deposit or renewal will receive an additional interest of 0.50% per annum. Women depositors are eligible for an extra 0.10% interest per annum, and an additional interest of 0.25% per annum will be offered on all FD renewals.
Also read | FD rates revised: Union Bank offers up to 7.85%, RBL Bank up to 8.5% after revision for these customers
Shriram Finance credit rating
A press release from the NBFC stated that Shriram Finance’s fixed deposit products continue to hold strong credibility. Credit ratings of “[ICRA]AA+ (Stable)” by ICRA and “IND AA+/Stable” by India Ratings and Research indicate high safety with a stable outlook.
The company accepts deposits in multiples of Rs 1,000, with a minimum deposit amount of Rs 5,000, catering to a wide range of retail investors.
Also read | Fixed deposit rates slashed: Kotak and Axis Bank cut FD rates for second time in April 2025
Shriram Finance FD rates from May 2, 2025
Here are the FD interest rates that will be effective from May 2, 2025:
INTEREST RATES ON FRESH DEPOSITS / RENEWALS UPTO RS. 10 CRORE (w.e.f. 2nd May 2025)* Non-Cumulative Deposit Cumulative Deposit Period (Months) Monthly % p.a. Quarterly % p.a. Half Yearly % p.a. Yearly % p.a. Rate % (p.a. at Monthly rests) Effective Yield Maturity Value for Rs 5,000/- % p.a. 12 7.39 7.44 7.51 7.65 7.39 7.65 5,382 15 (Digital Only) 7.63 7.68 7.75 7.9 7.63 7.98 5,498 18 7.53 7.58 7.65 7.8 7.53 7.95 5,595 24 7.63 7.68 7.75 7.9 7.63 8.21 5,821 36 8.09 8.15 8.23 8.4 8.09 9.12 6,368 50 8.09 8.15 8.23 8.4 8.09 9.58 6,996 60 8.09 8.15 8.23 8.4 8.09 9.93 7,482
| INTEREST RATES ON FRESH DEPOSITS / RENEWALS | |||||||
| UPTO RS. 10 CRORE (w.e.f. 2nd May 2025)* | |||||||
| Non-Cumulative Deposit | Cumulative Deposit | ||||||
| Period (Months) | Monthly % p.a. | Quarterly % p.a. | Half Yearly % p.a. | Yearly % p.a. | Rate % (p.a. at Monthly rests) | Effective Yield | Maturity Value for Rs 5,000/- |
| % p.a. | |||||||
| 12 | 7.39 | 7.44 | 7.51 | 7.65 | 7.39 | 7.65 | 5,382 |
| 15 (Digital Only) | 7.63 | 7.68 | 7.75 | 7.9 | 7.63 | 7.98 | 5,498 |
| 18 | 7.53 | 7.58 | 7.65 | 7.8 | 7.53 | 7.95 | 5,595 |
| 24 | 7.63 | 7.68 | 7.75 | 7.9 | 7.63 | 8.21 | 5,821 |
| 36 | 8.09 | 8.15 | 8.23 | 8.4 | 8.09 | 9.12 | 6,368 |
| 50 | 8.09 | 8.15 | 8.23 | 8.4 | 8.09 | 9.58 | 6,996 |
| 60 | 8.09 | 8.15 | 8.23 | 8.4 | 8.09 | 9.93 | 7,482 |
What is a Cumulative Fixed Deposit?
According to the Shriram Finance website, “A cumulative fixed deposit accumulates the interest amount until maturity and the interest is compounded every quarter or every year. The interest that is earned every year is added to the principal amount and is paid along with the principal amount at the end of the tenure.”
What is a Non-Cumulative Fixed Deposit?
A non-cumulative fixed deposit pays the accumulated interest regularly to the investor. The investor can choose to receive interest monthly, quarterly, half-yearly, or yearly. The interest rates vary for each payout option.
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