Mumbai, September 27, 2024.
Shriram Finance, a leading Non-Banking Financial Company (NBFC) in India, offers special benefits for senior citizens investing in Shriram Fixed Deposit. Senior citizens aged 60 and above will enjoy an additional interest rate of 0.50%* per annum (p.a.), making Shriram Unnati Fixed Deposit an even more attractive investment option.
With this enhancement, the maximum interest rate on Shriram Fixed Deposit reaches 9.40%* p.a. (inclusive of 0.50%* p.a. for senior citizens and 0.10%* p.a. for women depositors). This attractive interest rate, coupled with higher credit ratings of “[ICRA]AA+ (Stable)” by ICRA and “IND AA+/Stable” by India Ratings and Research makes Shriram Unnati Fixed Deposit an ideal choice for senior citizens seeking to grow their savings.
Why Fixed Deposits Must be a Part of Every Senior Citizen’s Portfolio
Fixed deposits offer a reliable investment option for senior citizens looking to supplement their retirement income. Shriram FD offers attractive returns and relatively lower risk as compared to market-linked investments, while offering a stable source of income.
Senior citizens can benefit from the following advantages:
• Predictable Returns: Fixed deposits offer a fixed rate of interest, ensuring a predictable income stream.
• Lower Risk Compared to Market-Linked Investments: They are considered a stable-return yielding investment, making them suitable for risk-averse investors.
• Flexibility: Fixed deposits are available with varying tenures, allowing senior citizens to choose an option that aligns with their financial goals.
By incorporating fixed deposits into their retirement portfolio, senior citizens can create a stable financial foundation and enjoy a comfortable and secure retirement.
Key Benefits of Shriram Unnati Fixed Deposit
Shriram Unnati Fixed Deposit brings several benefits on the table for senior citizens:
• Favourable Interest Rates: Compelling returns for senior citizens, with interest rates up to 9.40%* p.a. (inclusive of 0.50%* p.a. for senior citizens and 0.10%* p.a. for women depositors).
• Higher Credit Ratings: Backed by the strength of Shriram Finance, Shriram FD is rated “[ICRA]AA+ (Stable)” by ICRA and “IND AA+/Stable” by India Ratings and Research.
• Flexible Tenure Options: A variety of tenures to suit diverse financial goals—ranging from 12 to 60 months.
• Easy Online Application: A seamless digital process for opening and managing an FD account online.
Conclusion
Shriram Fixed Deposit offers a reliable investment option for senior citizens looking to enhance their financial well-being. With the added benefit of a higher interest rate for senior citizens, Shriram Finance reaffirms its commitment to providing tailored financial solutions to meet the diverse needs of senior citizen customers.