This NBFC hikes FD interest rates by up to 50 bps; now 8.75% for this tenure
(STFC), a part of Shriram Group, has announced a hike in Fixed deposit At the rate of 25 to 50 basis points (0.25% p.a. to 0.50% p.a.) over different periods.
According to a statement by STFC, customers can now earn up to 8.75% interest on FDs with effect from August 10, 2022. The interest rate for 60 months tenure is 8.25 per cent.
STFC is offering 8% interest rates on FDs up to 36 months and 8.15 per cent for 48 months. Updated interest rate for one year FD 6.75 per cent and 7.25 per cent for two-year FDs.
Senior citizen depositors are eligible for an additional 0.5 per cent annual interest from STFCs. This means seniors can get 8.75 per cent interest on fixed deposits of 5 years. On renewal, where the deposit matures, an additional 0.25 per cent interest will be paid annually, a statement said.
