The brand new rate of interest on a digital-only RD or fastened funding plan (FIP) of 12 months – 23 months tenor is 8.50 per cent (8.10 per cent earlier); 24 months – 35 months (8.75 per cent vs 8,40 per cent earlier); and 36 months – 48 months (9 per cent vs 8.60 per cent). Digital-only means funding made by way of Shriram One App and SFL’s web site.
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Ladies depositors will get an extra rate of interest of 0.10 per cent. The minimal deposit quantity for the RD/FIP is Rs 1000 a month.
The non-banking finance firm (NBFC) stated it has made its RD/FIP scheme, which is at present marketed by way of digital and offline mode, unique to the Shriram One App and SFL web site.
15-month digital-only FD
The rate of interest on the 15-month digital-only ‘Unnati” FD is 8.15 per cent. The minimal deposit quantity is ₹5000.
Senior residents and ladies depositors can earn extra 0.50 per cent and 0.10 per cent, respectively, on this sediment, per an organization assertion. All depositors can declare an extra advantage of 0.25 per cent on renewal of the FDs, executed digitally or by way of on-line channels, it added.
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“Each the digital-only FD and the FIP (RD) scheme shall be obtainable on the Shriram One app and the Shriram Finance web site from April 22, 2024. From that date onwards, clients would not have the ability to e book FIPs bodily at branches or by way of the corporate’s representatives,” the corporate stated in an announcement.
Umesh Revankar, Govt Vice Chairman, SFL stated, “We firmly imagine that India’s digital motion is maturing on the proper tempo. Younger Traders have gotten more and more digital-savvy and are eager to discover non-traditional technique of investing in conventional merchandise.”
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