Shriram Finance FD

Q: What is the minimum investment tenure with Shriram Finance FD?

The minimum tenure for a Shriram Finance FD is 12 months.

Unlock growth and stability with secure investment options. Benefit from competitive interest rates, ensuring a prosperous financial journey with confidence.

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Book your FD in 4 simple steps

Features and Benefits of Shriram Finance FD

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

Shriram Finance FD Types

1. Cumulative FD

This is one of the more popular FD types. Here, you get your interest only on maturity, based on the tenor you choose. The cumulative FD tenor options include 12, 18, 24, 30, 36, 42, 50, and 60 months. Do note that the Shriram FD rates for regular citizens vary from 7.59% p.a. to 8.47% p.a. (not inclusive of the additional rate for women), based on the tenor.

Adding to the benefits, senior citizen investors receive an extra 0.50% interest on the base rate offered and women depositors are eligible for an additional 0.10%. For all investor profiles, the minimum cumulative FD investment is ₹5,000, and you can prematurely withdraw your corpus, if needed.

You can opt to auto-renew your cumulative FD investment. This facility can be accessed at the time of investing.

2. Non-Cumulative FD

Here, the non-cumulative FD tenor options are the same as the cumulative FD. However, the FD rates are generally lower depending on the payout frequency you choose i.e., monthly, quarterly half-yearly or annually.

The Shriram Finance non-cumulative FD rates range from 7.59% p.a. to 8.80% p.a. with an additional 0.50% interest rate applicable for senior citizens.

Eligibility and Process of Opening a Shriram Finance FD Account

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

Process of Opening FD Account

There are several ways to open the Shriram Finance FD account via offline options, online banking, and mobile apps.

1. Through Online Banking:

You can open an FD account online by following the below-mentioned steps:

Visit the Shriram Finance's website
Select ‘Products’ from the ‘Menu’ section
Choose ‘Deposits’ under ‘Products’
Click on the ‘Fixed Deposits’ option
Select ‘Invest now’
Enter the necessary information along with details of the nominee
Complete the payment after providing maturity details

Accept the terms and conditions and then click on the ‘Submit’ option

2. Through MyShriram App:

You can also open a Shriram Finance FD account through MyShriram Mobile App:

Install the MyShriram app
Select ‘Fixed Deposits’ by clicking ‘Product’ and then ‘Deposits’
Enter all relevant information, such as nomination, payment, and maturity instructions
Confirm all details, agree to terms, and click ‘Submit’ to start the Shriram Finance FD account

Alternatively, you can visit the nearest branch in case you face any challenges and wish to book the FD offline.

Documentation Required for Opening an FD Account

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

Shriram Finance FD Interest Rates

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%

Shriram Finance FD calculator

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

Choose the appropriate interest payout option

On completing these steps, the maturity estimates along with the interest rate and effective yield will be displayed automatically.

Are Shriram Finance FDs safe?

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.

What is the maximum tenor for which an STFC FD can be booked?

The maximum tenor for an STFC FD is 5 years.

Can I book a joint FD account with Shriram Transport Finance?

Yes, Shriram Transport Finance allows joint FD accounts.

Is it possible to transfer my STFC FD account?

No, you cannot transfer your STFC FD account.

What is the minimum investment tenure with Shriram Finance FD?

The minimum tenor for a Shriram Finance FD is 12 months.

Is it a good idea to invest in Shriram Finance FD?

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.