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Shriram Transport Finance Co. Ltd. (STFC) has raised fixed deposit interest rates by 25 to 50 basis points across different tenors effective Wednesday.
The revised interest rates apply to tenors between 12 to 60 months, (if deposits are made through regular channels) and range from 6.75% to 8.75%, it said in a statement.
STFC announced different set of interest rates for renewal or fresh deposits made through its website. It has three tenors of 15 months, 30 months and 45 months with interest rates ranging from 7.25% to 8.15%.
An additional interest of 0.50% p.a will be paid to senior-citizen depositors. An additional interest of 0.25% p.a. will be paid on all renewals.
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