Shriram Finance Limited raises fixed deposit rates following RBI hike
What happened
Shriram Finance Limited increased interest rates on its fixed deposits by up to 40 basis points across select maturity periods, effective October 11, 2026. This revision follows the Reserve Bank of India’s decision to increase the benchmark repo rate by 25 basis points to 5.50% on Wednesday. For example, deposits with tenures between 24 and 35 months were raised to 7.5% from 7.1% according to Shriram Finance Limited.
From livemint.com
Why it matters
The rate increase by Shriram Finance Limited reflects the change in the benchmark lending rate set by the Reserve Bank of India. This adjustment affects the interest earned by depositors and signals shifts in the financial environment for fixed investment plans.
From livemint.com
Who's involved
- Shriram Finance LimitedIncreased fixed deposit interest rates in response to the central bank's policy change.
- Reserve Bank of IndiaRaised the benchmark repo rate by 25 basis points to 5.50%.
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The entities involved
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Shriram Finance Limited
Financial services
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Shriram Group
Indian conglomerate
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