Maturity: ₹1,16,433 at 7.68% p.a. Interest earned: ₹16,433. Senior citizen maturity: ₹1,17,005.
| Year | Deposit | Interest Earned | Maturity Value |
|---|
A ₹1 Lakh Fixed Deposit in Shriram Finance for 2 Years at 7.68% p.a. (quarterly compounding) will mature to ₹1,16,433. You earn ₹16,433 as interest, giving a total return of 16.4% on your investment.
At 7.68% p.a. (quarterly compounding), ₹1 Lakh FD in Shriram Finance for 2 Years matures to ₹1,16,433. Interest earned: ₹16,433. Senior citizen maturity: ₹1,17,005 at 7.93%.
Shriram Finance offers 7.68% p.a. for general citizens and 7.93% p.a. for senior citizens on 2 Years Fixed Deposit. The rate applies regardless of the deposit amount.
For ₹1 Lakh at 7.68% for 2 Years, you would earn approximately ₹16,433 as interest, making total maturity ₹1,16,433. Senior citizens earn ₹17,005 at 7.93%.
Yes, premature withdrawal is allowed. Shriram Finance's policy: Allowed after 3 months with penalty. You will receive a reduced interest rate on early withdrawal.
Compare with other banks on this page to find the best rates. NBFC FDs typically offer higher rates but without DICGC insurance. Consider both rate and safety.