Safety of your investment is one of the key benefits of an FD. The Shriram Transport FD has a credit rating of AA+/Stable from India Ratings and Research (Ind-Ra) and ICRA. Hence, the Shriram FD is among the top issuers, ensuring credibility and reliability.
Besides this, here are the notable key features of booking a Shriram Finance FD -
No interest paid on the deposit upon premature withdrawal of the FD after three months but before six months from the date of booking
Interest provided at a rate that is 2% less than the prevailing Shriram Transport Finance FD rates when FD is liquidated after 6 months
Loan against FD can be availed
TDS is deducted at a rate of 10% if interest earnings exceed ₹5,000 in a fiscal year
TDS is payable at a rate of 20% if you do not provide a PAN (Permanent Account Number)
Additional interest rates of 0.10% p.a. for women depositors
Following entities are eligible to open a Shriram Finance FD:
Individuals
NRIs
Hindu United Family (HUF)
Companies
Partnerships
Trusts and Foundations
Unincorporated associations
Body of Individuals
In order to open a Shriram Finance FD, you may be required to keep the following documents handy. The documents required can change depending on whether you are booking the FD online or offline.
PAN Card or Form 60
Recent passport-size photographs
Copy of an official document with name and address, such as a passport, an Aadhaar card, a voter identification card, or an NREGA job card
Official declaration or a letter from the National Population Register for HUF
Certificate of incorporation, memorandum and articles of association, proofs of identity and address for a company or business
Registration certificate and deed of partnership for partnership firms
The Shriram Finance FD interest rates applicable on cumulative FDs w.e.f. 9 April 2024 are as follows -
Tenor (in months) |
Non-senior Citizens (p.a.) |
Senior Citizens (p.a.) |
12 |
7.59% |
8.09% |
18 |
7.73% |
8.23% |
24 |
7.87% |
8.37% |
30 |
8.05% |
8.55% |
36 |
8.38% |
8.88% |
42 |
8.42% |
8.92% |
50 |
8.47% |
8.97% |
60 |
8.47% |
8.97% |
Before you invest in the Shriram Finance FD, you should plan and optimise your investment. The issuer makes this easy with the interactive and intuitive Shriram Finance Fixed Deposit Calculator. In just a few easy steps, you can forecast your earnings and even start your investment online.
All you have to do is:
Visit the STFC FD calculator page
Confirm if you are a senior citizen
Confirm if you are a woman investor
Input the investment amount
Select the preferred tenor
On completing these steps, the maturity estimates along with the interest rate and effective yield will be displayed automatically.
Yes. The STFC FD is rated FAAA/Stable by CRISIL, and MAA+ by ICRA. These ratings suggest good credibility and reliability. However, before investing check the details thoroughly.
The maximum tenor for an STFC FD is 5 years.
Yes, Shriram Transport Finance allows joint FD accounts.
No, you cannot transfer your STFC FD account.
The minimum tenor for a Shriram Finance FD is 12 months.
Yes, the Shriram Finance FD is one the safest FDs in the market, with an AA+ (Stable) rating by ICRA and an IND AA+/Stable rating by India Ratings and Research, which indicate high degree of safety and credibility. This means that you never have to worry about the safety of your funds when you save with Shriram Finance FD.
Yes, employees of Shriram Group Companies will receive an additional 0.15% interest rate over the applicable interest rates.
Yes, you can add nominees to your Shriram Finance FD account.
Yes, you can open joint accounts with Shriram Finance Fixed Deposit.
No, the Shriram Finance FD is not transferable.
Yes, you may book a Shriram Finance Fixed Deposit account online.
Yes, the Shriram Finance FD interest rates for senior citizens are placed 0.50% over the applicable rates.
In order to get started with booking an FD with Shriram Finance, you’d need an identity proof and address proof.
Individuals, partnership companies, companies, HUF, trusts and other such entities are eligible to book Shriram Finance fixed deposits.
No, a Shriram Finance FD is not insured.