Shriram City Union Finance FD Calculator
FD Interest Rates on Retail deposits (cumulative) of up to Rs 5 crore - General Public
| Tenure | Regular Citizens |
| 12 months | 6.54 |
| 15 months | 7.01 |
| 24 months | 7.01 |
| 30 months | 7.72 |
| 36 months | 7.72 |
| 45 months | 7.86 |
| 48 months | 7.86 |
| 60 months | 7.95 |
Note: The FD interest rates are effective as of 10 August 2022
FD Interest Rates on Retail deposits (cumulative) of up to Rs 5 crore - Senior Citizens
| Tenure | Senior Citizens |
| 12 months | 7.04 |
| 15 months | 7.51 |
| 24 months | 7.51 |
| 30 months | 8.22 |
| 36 months | 8.22 |
| 45 months | 8.36 |
| 48 months | 8.36 |
| 60 months | 8.45 |
Note: The FD interest rates are effective as of 10 August 2022
Fixed Deposit Interest Rates on Retail deposits (non-cumulative) of up to Rs 5 crore
| Tenure | Monthly | Quarterly | Half Yearly | Yearly |
| 12 months | 6.54 | 6.58 | 6.64 | 6.75 |
| 15 months | 7.01 | 7.06 | 7.12 | 7.25 |
| 24 months | 7.01 | 7.06 | 7.12 | 7.25 |
| 30 months | 7.72 | 7.77 | 7.85 | 8 |
| 36 months | 7.72 | 7.77 | 7.85 | 8 |
| 45 months | 7.86 | 7.92 | 8 | 8.15 |
| 48 months | 7.86 | 7.92 | 8 | 8.15 |
| 60 months | 7.95 | 8.01 | 8.09 | 8.25 |
Note: The FD interest rates are effective as of 10 August 2022
Bulk Term Deposits (More than Rs.5 crore): Non-Cumulative
| Tenure | Monthly | Quarterly | Half Yearly | Yearly |
| 12 months | 6.56% | 6.60% | 6.66% | 6.77% |
| 15 months | 6.79% | 6.83% | 6.89% | 7.01% |
| 24 months | 6.79% | 6.83% | 6.89% | 7.01% |
| 30 months | 7.73% | 7.79% | 7.86% | 8.02% |
| 36 months | 7.73% | 7.79% | 7.86% | 8.02% |
| 45 months | 7.78% | 7.84% | 7.91% | 8.07% |
| 48 months | 7.78% | 7.84% | 7.91% | 8.07% |
| 60 months | 7.87% | 7.93% | 8.01% | 8.17% |
Note: The FD interest rates are effective as of 20 May 2022
Bulk Term Deposits (More than Rs.5 crore): Cumulative Deposit
| Tenure | Interest Rate (p.a.) |
| 12 months | 6.56% |
| 15 months | 6.79% |
| 24 months | 6.79% |
| 30 months | 7.73% |
| 36 months | 7.73% |
| 45 months | 7.78% |
| 48 months | 7.78% |
| 60 months | 7.87% |
Note: The FD interest rates are effective as of 20 May 2022
Similar Calculator
More FD Calculators
Shriram City Union Finance FD Calculator
Shriram City Union Finance FD rates have been revised by 5 basis points. Following the modification, the general public can earn interest up to 8.13% (cumulative) on FDs for 5 years and senior citizens can get an additional interest of 0.50% p.a. For women investors, this NPFC has introduced an additional 0.10% p.a. The amount you deposit in FDs is locked for a period which can vary between 12 months to 60 months.
You can use an online Shriram City Union Finance FD calculator to determine your interest amount that it will accumulate at the time of maturity. Continue reading to know more about it.
Shriram City Union Finance FD Calculator
Investing in an FD entails following your budget and aligning it with your financial objectives. You can get guaranteed returns and minimised risks from Shriram City Union Finance fixed deposits.
In this regard, it is imperative to know the amount to deposit and the specific tenure so that you earn desired return. And this can easily be estimated through the online Shriram City Union Finance FD Calculator. This calculator enables you to compute the interest that your principal amount will earn as per the chosen Shriram City Union Finance FD rates and tenure.
Additionally using this calculator, you can compare the returns from various FD schemes and you can comprehend which scheme delivers the highest returns over the desired tenure.
How Does the Shriram City Union Finance FD Calculator Work?
The online Shriram City Union Finance FD calculator comes with a user-friendly interface, which is easy to use. Here is the step-by-step guide on the usage of this calculator.
1. Enter an investment amount in the provided box of “Total Investment”
2. Now drag the cursor to draw a purple line until reaching the desired tenure or enter the number of years in the box of “Number of years” provided below.
3. Upon entering the interest rate the screen will display the estimated return and total value against your FD deposits effectively.
Accordingly, you can alter the deposit amount, tenure, and interest rates to compare the returns for FD schemes of various tenures and rates.
Fixed deposit interest is calculated in two ways: compound interest and simple interest.
The formula for Compound Interest
A = P (1+r/n) ^ n * t
In this given formula,
A = Your maturity amount
r = Shriram City Union Finance FD rates
t = Number of years
P = Principal amount
To understand the above formula consider the example given below:
If you have invested ₹10,000 for 3 years at a 7.72% interest rate (annual compounding), then during maturity the total value of the FD would be:
A= 10,000 {1 + (0.0772/1)} ^ (1 * 3) = 10,000 (1 + 0.0772) ^ (3)
= 10,000 (1.0772) ^ (3) = ₹ 2,578
Therefore, the maturity value is ₹ 12,578
The interest earned over 3 years = Maturity Amount – Principal Amount = 13,449 – 10,000
Simple Interest Formula
M = P+ (PXRXT/100).
Where,
P = Principal amount
T = Investment tenure
R = Rate of interest
M = Maturity amount
To understand this formula, consider the example given below:
If you invest ₹10,000 for 3 years at 7.72% p.a. then during the time of maturity,
M = 10,000 + (10,000*7.72*3/100) = ₹ 12,316
Therefore, your maturity value will be ₹ 12,316 and the interest earned would be ₹2,316.
Interest earned = ₹3,449.
Benefits of an Online Shriram City Union Finance FD Calculator
This online tool offers many crucial benefits to users. Following are the benefits to help you understand how this online device is beneficial.
- Assist in Making Informed Decision
This FD calculator assists you in choosing a suitable FD scheme that offers returns which can align with your financial goals. Compare the returns offered by various FD schemes for different FD rates and deposit amounts and pick one accordingly. - Free and Unrestricted Access
Another top advantage of this tool is that it is totally free. You need not pay any fee to register for it. Also, you can use it as many times as you want to. There is no need to sign up with any personal data. You can alter the values multiple times. - Estimates Values With Ease
This FD calculator provides an estimation of your maturity value and the interest amount you will receive easily. The Shriram City Union Finance FD Calculator will give accurate estimations of the return values within a fraction of a second based on the input of the deposit amount, interest rate, and tenure. - Comparison and Analysis Tool
Another notable advantage of using this device is that it allows you to compare multiple FD investment schemes. Here you can alter the deposit amount, tenure, and interest rate with ease.
Prior knowledge of how much your FD will fetch you after the tenure ends helps in future financial planning. In this regard, Upstox Shriram City Union Finance FD calculator can be an effective tool that offers an easy and hassle-free way of estimating the FD interest return.
Frequently Asked Questions
Who are eligible to open Shriram City Union Finance fixed deposit account?
Indian citizens falling under the following category are eligible to open an FD account with Shriram City Union Finance
-
- Resident individuals
-
- Hindu Unified Families (HUF)
-
- NRIs (Accepted for a maximum period of 3 years)
-
- Partnership firms
-
- Unincorporated Association or Body of Individuals
-
- Trusts and companies, etc.
What are the minimum and maximum deposit amounts?
The minimum amount required for a non-cumulative FD scheme is ₹10,000 while it is ₹5000 for a cumulative account. There is no information available for the maximum deposit amount.
What is the maximum interest rate that you can earn from Shriram City Union Finance FD?
You can earn FD rates as high as 9.05% p.a. For cumulative FD, general citizens can earn an interest of 8.13%. For non-cumulative FD, the highest yearly rate for general citizens is 8.45%.
Are there any premature withdrawal facilities on FD?
Shriram City Union Finance FDs can be withdrawn before maturity by paying a penalty.
What is the penalty for early withdrawal of the FD amount?
If you choose to do FD foreclosure after 6 months, this financial institution will charge a 2%–3% penalty on the contracted interest rate.
Can a customer open an FD through online mode?
Yes, you can open a Shriram Finance FD account through internet banking, and a mobile app.
Are there any special rates for senior citizens?
Yes, with this NBFC, senior citizens get an additional 0.50% p.a. interest on their investment.
How many years will FD double in the Shriram City Union Finance?
Using the rule of 72, you can calculate the number of years it will need to double your Shriram Finance FD. For example, if the interest rate for your FD amount is 6.8%, it will take 10.58 years to double your deposit amount.
Does Shriram City Union Finance provide an auto-renewal facility for FDs?
Yes, this financial institution offers an auto-renewal facility.
What is the lock-in period for Tax Saving Scheme in Shriram City Union Finance?
The minimum lock-in period for tax-saving FD is 5 years. As per Income Tax Act, you cannot break tax-saving FDs before 5 years.
Disclaimer:
This calculator is meant to be used for indicative purposes only. It is designed to assist you in determining the appropriate amount of prospective investments. This calculator alone is not sufficient and shouldn’t be used for the development or implementation of any investment strategy. Upstox does not take the responsibility/liability nor does it undertake the authenticity of the figures calculated therein. Upstox makes no warranty about the accuracy of the calculators/reckoners. The examples do not claim to represent the performance of any security or investments. In view of the individual nature of tax consequences, each investor is advised to consult his/her own professional tax advisor before making any investment decisions on the basis of the results provided through the use of this calculator.