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Good News For FD Investors: This AAA Rated FD Offers Interest Rates Of 7.90% p.a. Starting From Today
Fixed Deposits have emerged as one of the best investment options for investors who are averse to risks as these investments are not affected by market volatility.
Fixed Deposits have emerged as one of the best investment options for investors who are averse to risks as these investments are not affected by market volatility. FDs offers investors guaranteed interest on their principal sum throughout the tenure. After the recent hike in repo rate by RBI, many banks increased the interest rates on fixed deposits thus making them even more attractive for citizens.
Shriram Transport Finance Company Limited (STFC) has also decided to hike interest rates on its FDs. It has revised interest rates and the new rates have become applicable starting today i.e. May 20, 2022. The revised interest rates will be applicable for tenures between 30 months to 60 months.
It is worth mentioning that STFC comes with a FAAA/Stable rating by CRISIL. It shows that the company offers high credit quality. The India's largest player in commercial vehicle finance offers fixed deposits to its customers with guaranteed returns that can boost your investments.
As many banks have decided to hike interest rates, STFC has announced a raise in its FDs by 15 to 25 basis points (0.15% p.a. to 0.25 p.a.) across various tenures. Check the table below for new rates that have become applicable from May 20, 2022. Check the table below for new rates:
Interest rates on Fixed Deposits through regular channels:
| Tenure | Existing Interest Rate (p.a.) | Revised Interest Rate (p.a.) - | Increase in Interest rate (p.a.) |
|---|---|---|---|
| w.e.f. May 20, 2022 | |||
| 12 months | 6.50% | 6.50% | No change |
| 24 Months | 6.75% | 6.75% | No change |
| 36 Months | 7.50% | 7.75% | 0.25% (25 basis points) |
| 48 Months | 7.60% | 7.80% | 0.20% (20 basis points) |
| 60 Months | 7.75% | 7.90% | 0.15% (15 basis points) |
Interest rates on Fixed Deposits through the Company website:
| Tenure | Existing Interest Rate (p.a.) | Revised Interest Rate (p.a.) - | Increase in Interest rate (p.a.) |
|---|---|---|---|
| w.e.f. May 20, 2022 | |||
| 15 months | 6.75% | 6.75% | No change |
| 30 Months | 7.50% | 7.75% | 0.25% (25 basis points) |
| 45 Months | 7.60% | 7.80% | 0.20% (20 basis points) |
