3 weeks ago
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Shriram Finance Ltd. (SFL) announced a digital fixed deposit (DFD) scheme along with a fixed income plan (FIP) and recurring deposit which will be available only on the Shriram One App and website.
Customers would be able to obtain a Shriram Unnati FD with a tenor of 15 months at a rate of interest of 8.15%. Senior citizens and women depositors will get an additional benefit of 0.50% and 0.10% respectively, while all depositors can claim an additional benefit of 0.25% on renewal of the FDs, done digitally or through online channels.
While Unnati FDs with other tenors will be available both online and offline, the 15-month FD will be available only for purchase through the Shriram One App and its website. The minimum deposit amount is ₹5,000.
The minimum deposit for FIP and RD is ₹1,000 a month, the NBFC said in a statement.
“With our new digital-only offerings, we wish to accelerate the digital India movement and enable depositors to grow their wealth through convenient means. We aspire to provide our customers with tech-enabled services of the highest order,” said executive vice chairman Umesh Revankar.
