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This AAA Rated FD offers Citizens An Interest Of Up To 8.05%

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Investors look for best interest rates on their fixed deposits as it makes their investments profitable. Fixed Deposits have emerged as one of the most popular investment options in India as markets are choppy in the current times. Gold prices also witness changes and, in such time, FDs have emerged as one investment that offers guaranteed returns. Also, the rate of return that a citizen gets when he/she opens an FD stays consistent throughout the period. And, the FDs do not get impacted even if the rate of interest declines in the broader market.

 

One such non-banking finance company that has been offering attractive interest rates to citizens is Shriram Transport Finance Company or STFC. STFC deposits offer citizens higher returns with safe investment options. It is worth mentioning that STFC's FDs bear FAAA/Stable rating by CRISIL. This rating ensures that the credit quality is high. STFC FDs offer guaranteed returns that can effectively multiply investors' investment.

Let us take a look at some of the FDs and interest rates offered by STFC:

Let us take a look at some of the FDs and interest rates offered by STFC:

There are two deposits namely Retail deposit of less than or equal to 5 crore and it will contain Non-Cumulative deposit and Cumulative Deposit. There are Bulk Deposits of more than 5 crore and it will contain Non-Cumulative deposit and Cumulative Deposit.

Retail Deposits:
 

Retail Deposits:

Under retail deposit of less than or equal to 5 crores, you can choose your tenure of investments beginning from 12 months to 60 months. Under non-cumulative deposit, if you make your investment for a period of 12 months, you can get a monthly interest rate of 6.31% and yearly interest of 6.50%. Meanwhile, for cumulative deposit the rate of interest for 12 months will be 6.31% and effective yield will be 6.50%. For 60 months, the interest rates for monthly will be 7.48% and effective yield will be 9.05%. The maturity value for Rs 5000 for 12 months tenure will be Rs 5,325 and the maturity value of Rs 5000 for 60 months will be Rs 7,260.

Retail Deposit < = 5 crore

Non cumulative  Deposit   Cumulative Deposit  
Period (months)Monthly % p.aQuarterly % p.aHalf yearly % p.aYearly %p.aRate (p.a. at Monthly rests)Effective yield % p.a. Maturity value for Rs 5,000/-
126.316.356.46.56.316.55,325
156.546.586.646.756.546.85,425
246.546.586.646.756.546.975,695
307.257.37.377.57.257.935,990
367.257.37.377.57.258.086,210
457.347.397.467.67.348.436,580
487.347.397.467.67.348.516,700
607.487.537.67.757.489.057,260
Bulk Deposit:

Bulk Deposit:

Under bulk deposit of more than Rs 5 crore, there are non-cumulative and cumulative deposit. For non-cumulative deposit, investors can choose to invest from minimum 12 months period to 60 months period. The interest rate for 12 months tenure is 6.56% monthly and it will go up to 6.77 % per annum. For investments for the period of 60 months tenure, the monthly rate of interest will be 7.73% and it can go up to 8.02 per annum.

Meanwhile, for cumulative deposits, the rate of interest for 12 months tenure FD will be 6.56% and effective yield will be 6.77 percent. If investors choose the tenure for 60 months period, the monthly rate of interest will be 7.73% and effective yield will be 9.41 %. The maturity value of Rs 5000 for 12 months tenure is Rs 5335 and the maturity value of Rs 5000 for 60 months period is Rs 7350.

Bulk Deposit > 5 crore

Non cumulative  Deposit   Cumulative Deposit  
Period (months)Monthly % p.aQuarterly % p.aHalf yearly % p.aYearly %p.aRate (p.a. at Monthly rests)Effective yield % p.a. Maturity value for Rs 5,000/-
126.566.66.666.776.566.775,335
156.796.836.897.016.797.075,440
246.796.836.897.016.797.265,725
307.57.557.627.777.58.236,025
367.57.557.627.777.58.396,255
457.597.647.727.877.598.766,640
487.597.647.727.877.598.846,765
607.737.797.868.027.739.417,350
FD Rates For Senior Citizens:

FD Rates For Senior Citizens:

It is worth mentioning that senior citizens will get an additional interest rate of 0.30% p.a. Also, there will be an additional interest rate of 0.25% pa on all the renewals when the deposit is matured. Cumulative deposits can be renewed for maturity value.

About STFC:

About STFC:

STFC came into existence in 1979 and it has been registered as a deposit taking Non-Banking Finance Company (NBFC) with the Reserve Bank of India (RBI). It is part of SHRIRAM Conglomerate which has a strong presence in financial services. As it is registered with RBI and has obtained CRISIL rating, it is safe to invest in the company.


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