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Interest rates have risen sharply on fixed deposits over the last few quarters after the RBI hiked interest rates. Today, yields of up to 9% are a possibility. Here is a fixed deposit for Sriram Transport Finance FD that offers an interest rate of up to 8.75% (including senior citizens).
Here are the interest rates offered by Sriram Transport Finance on cumulative and non-cumulative retail deposits of less than or equal to 5 crores.
Interest rates on Cumulative Deposit
Below is a list of interest rates on Fixed Deposit of Sriram Transport Finance for Cumulative Deposits:
| Months | Rate per annum at monthly rest | Maturity value for Rs. 5,000/- |
|---|---|---|
| 12 | 6.54 | 5,335 |
| 15 | 7.01 | 5,455 |
| 24 | 7.01 | 5,750 |
| 30 | 7.72 | 6,060 |
| 36 | 7.72 | 6,300 |
| 45 | 7.86 | 6,710 |
| 48 | 7.86 | 6,840 |
| 60 | 7.95 | 7,430 |
Interest rates on Non-Cumulative Deposit
Below is a list of interest rates on Fixed Deposit of Sriram Transport Finance for Non-Cumulative Deposits:
| Months | Monthly % p.a. | Quarterly % p.a. | Half yearly % p.a. | Yearly % p.a. |
|---|---|---|---|---|
| 12 | 6.54% | 6.58% | 6.64% | 6.75% |
| 15 | 7.01% | 7.06% | 7.12% | 7.25% |
| 24 | 7.01% | 7.06% | 7.12% | 7.25% |
| 30 | 7.72% | 7.77% | 7.85% | 8.00% |
| 36 | 7.72% | 7.77% | 7.85% | 8.00% |
| 45 | 7.86% | 7.92% | 8.00% | 8.15% |
| 48 | 7.86% | 7.92% | 8.00% | 8.15% |
| 60 | 7.95% | 8.01% | 8.09% | 8.25% |
Additional interest rates of 0.50% will be paid to the Senior Citizens (Completed 60 years of on date of the deposit)
Outlook on Sriram Transport Finance
Sriram Transport Finance is a part 'SHRIRAM' conglomerate which offers commercial vehicle financing business, general life insurance, stock broking, consumer finance and many other financial services. Being on the finance service provider from a while Sriram Transport Finance company offers higher returns as compared to other finance companies with safer and secure investment options.
Benefits of Sriram Transport Finance company fixed deposits
• Flexible Tenure: The company offers tenure starting from 12 to 60 months which is suitable for short-term and long-term investment goals.
• Higher Returns: Sriram Transport Finance company offers one of the highest returns of up to 8.75% with great quality and safety.
• Liquidity: The Fixed deposits offered by this finance company are very liquid, and one can choose to withdraw the funds of the deposit anytime.
Is Sriram Transport Finance Company safe for fixed deposits?
STFC's fixed deposits come with the secure "[ICRA]AA+ (Stable)" rating for fixed deposits by ICRA and IND AA+/Stable" rating on FD by India Ratings and Research. Both ratings indicate high safety and credit quality levels for the STFC's fixed deposits. The company has a customer base of over 2.12 million with years of trust.
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