Shriram Finance FD: Is Your 8% Bank Rate Worth It?

Shriram Finance has hiked interest rates on its fixed deposits from October 11, 2026. Rates now go up to 9.35% per year — well above most bank FDs. Here's what this means if you're looking to park savings safely.

Here's what happened: Shriram Finance has revised upward its fixed deposit and Fixed Investment Plan interest rates, effective October 11, 2026, for deposits up to ₹10 crore.. The new rates go up to 9.35% per annum for select tenures, significantly higher than the 6.5–7.5% range most public and private sector banks currently offer on retail FDs.. Shriram Finance is an RBI-registered NBFC authorised to accept public deposits — making it a legal but higher-risk alternative to traditional bank fixed deposits..

What you should do: Compare Shriram Finance's revised rate card (effective Oct 11) against your current bank FD rate across the same tenure before renewing or opening a new deposit.. Check Shriram Finance's credit rating on CRISIL or ICRA before investing — only invest if the rating is AA or above, and limit exposure to a portion of your total savings.. Calculate your post-tax yield based on your income tax slab — at 30% tax, a 9.35% FD yields ~6.5% net, which may narrow the gap over a bank FD significantly..

NBFC FDs lack DICGC insurance — split large amounts across multiple instruments rather than putting everything into one non-bank deposit, no matter how attractive the rate.