Shriram Metropolis Union Finance raises FD rates of interest by as much as 50bps

Finance

Shriram Metropolis Union Finance raises FD rates of interest by as much as 50bps

shirishshetty

August 10, 2022

Shriram Metropolis Union Finance raises FD rates of interest by as much as 50bps

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NEW DELHI: Shriram Metropolis Union Finance Ltd. (Shriram Metropolis), a subsidiary of Shriram Group, on Wednesday introduced 25-50 foundation factors (bps) hike in its mounted deposit charges (FDs). One bps is the same as one hundredth of a share level.

Shriram Metropolis Union Finance supplies financing to small companies and for two-wheeler purchases.

The brand new charges can be efficient from 1 August.

The corporate has hiked charges on 12-month and 36-month FDs by 25 bps, whereas these with a tenure of 24 months noticed a hike of 50 bps. For FDs of 48-month and 60-month tenure, rate of interest has been raised by 35 bps.

Interest rates on FDs through regular channels. — Rates of interest on FDs by means of common channels.

Interest rates on Fixed Deposits through the company website. — Rates of interest on Mounted Deposits by means of the corporate web site.

“An extra curiosity of 0.50% p.a can be paid to senior citizen depositors (accomplished age 60 years on the date of deposit/renewal),” the corporate stated in a press release.

An annual further curiosity of 0.25% can be paid on all renewals, the place the deposit has matured, as per the assertion.

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