Shriram Finance raises fixed-deposit rates across all tenures

what happened

According to Mint, Shriram Finance has revised interest rates on its fixed deposits across all tenures. The new rates took effect on Sunday, October 11, 2026. The company is a non-banking finance company and the flagship business of the Shriram Group. Its fixed deposits carry ratings of CRISIL AAA/Stable, ICRA AAA (Stable), IND AAA/Stable and CARE AAA/Stable.

The increase ranges from 0.15% to 0.40% depending on the tenure. Shriram Finance has also changed rates under its Fixed Investment Plan (FIP), with the revised terms effective from October 11, 2026. Women depositors will receive an additional benefit of 0.05% per year, while the other FIP terms and conditions remain unchanged.

The move followed the Reserve Bank of India’s October 7 decision to raise the repo rate by 25 basis points, from 5.25% to 5.50%. It was the first increase of its kind since February 2023. After the Monetary Policy Committee’s decision, banks and NBFCs were expected to gradually raise rates for customers.

why it matters

Shriram Finance’s move shows how the RBI’s policy change is feeding through to retail deposit pricing. Markets will watch the effect on funding costs for non-bank lenders and competition for depositor funds after the repo-rate increase.

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