Shriram City Union Finance FD Rates

Shriram City Union Finance offers fixed deposit (FDs) which have been rated ‘MAA+/with Stable Outlook’ by credit rating firm ICRA. The rating indicates the high credit quality of the FD scheme offered by the non-banking financial company (NBFC). Both cumulative and non-cumulative deposits are offered by Shriram City, the interest rates of which starts from 7.53% p.a. for the 12-month tenure onwards.

Shriram City Cumulative FD Rates

Period Interest Rate (p.a.) Effective Yield % (p.a.)
12 months 7.53% 7.80%
24 months 7.76% 8.37%
36 months 8.13% 9.18%
48 months 8.13% 9.58%
60 months 8.41% 10.42%

*Rates may be revised at regular time intervals. These rates are with effect from 1 May 2020

*Please note that the rates given above are monthly percentage gains

Shriram City Cumulative Fixed Deposit Rates

  • In case of cumulative term deposits, the interest will be paid during maturity, along with the principal amount.
  • Cumulative deposits are accepted in multiples of Rs.1,000 and the minimum amount that can be deposited is Rs.5,000.
  • Senior citizens will receive an additional interest of 0.25% on FDs from Shriram City Finance.
  • All deposits maturing on or after 1 November 2019 will receive 0.25% additional interest p.a. on all renewals.
  • Employees of Shriram Group Companies and their relatives will receive an additional interest of 0.15% p.a.
  • Cumulative fixed deposits are renewable for maturity value.

Shriram City Non-Cumulative FD Rates

Period Interest Rate (p.a.)
Monthly Quarterly Half-yearly Yearly
12 months 7.53% 7.58% 7.65% 7.80%
24 months 7.76% 7.81% 7.89% 8.05%
36 months 8.13% 8.19% 8.27% 8.45%
48 months 8.13% 8.19% 8.27% 8.45%
60 months 8.41% 8.47% 8.56% 8.75%

*Rates will be subject to change at regular intervals. These rates are with effect from 1 May 2020.

Shriram City Non-Cumulative FD Rates – Features

  • In non-cumulative deposits, the interest is paid at monthly/quarterly/half-yearly/yearly intervals.
  • The interest for non-cumulative deposits for monthly, quarterly, half-yearly, and yearly intervals will be paid on the last day of every month, last day of March/June/September/December, last day of March/September, and last day of March respectively.
  • The interest on your non-cumulative deposit is paid through electronic clearing service (ECS) or National Electronic Funds Transfer (NEFT).
  • Like cumulative deposits, non-cumulative deposits can be done only in multiples of Rs.1,000 and for a minimum amount of Rs.5,000.
  • Senior citizens who have completed 60 years of age on renewal or deposit date will get an additional 0.25% interest p.a.
  • 0.15% additional interest p.a. can be enjoyed by employees of Shriram Group Companies and their relatives.
  • Deposits that mature on or after 1 November 2019 will earn an additional interest of 0.25% p.a.

FAQs on Shriram City FD Rates

  1. What effect will the prevalent rates have on my existing deposits?

    According to company regulations, your existing deposits will not be affected by the prevalent rates. Any revision in interest rates will be applicable only on fresh deposits and renewals.

  2. What is the interest rate on loans which I avail against my fixed deposit?

    The interest rate on loans availed against deposits is 2% above the rate of interest payable on the deposit.

  3. Will NRI deposits be accepted by Shriram City Union Finance?

    Unfortunately, no. Fixed deposits by Non-Resident Indians (NRIs) have been discontinued since 2 January 2017.

  4. Can I transfer my fixed deposit to someone’s name?

    No, Shriram City Union Finance does not allow transfer of fixed deposits.

  5. What are the minimum and maximum tenure offered on Shriram City Union Finance FDs?

    The minimum and maximum tenure offered on fixed deposits of Shriram City are 12 months and 60 months respectively.

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