Shriram Finance Ltd

No. Any funds cannot be added at a different time of the FD tenure once booked.

At Shriram Finance, the minimum tenure of a fixed deposit is 12 months, while the maximum is up to 60 months.

Once you have signed up for a fixed deposit, the interest will be credited to your registered bank account.

A maturity date is the time when all due funds are paid into your registered nominated account.

Yes! Here at Shriram Finance, senior citizens can enjoy special interest rates, with an additional 0.50% p.a. on fixed deposits.

Shriram Finance Limited accepts investments from individuals aged 18 years or above, companies, partnership firms, Hindu Undivided Families (HUF), trusts, foundations, incorporated associations, and NRIs.

Precisely, yes! An individual can make a deposit in the name of a minor with the information that the minor is represented by his/her natural or legal guardian. The deposit application form has to be signed by the natural or legal guardian on behalf of the minor. Any information or communication that needs to be addressed shall be delivered to the guardian.

Changing one’s correspondence address is an easy task. All you need to do is send a valid address proof along with a request letter stating the address or contact change in the prescribed format (click to download) to the FD processing centre. On receiving the details, the changes will be updated in our records within seven working days. You can also log in to our customer portal to make further modifications regarding your correspondence address for your current investments.

You can deposit and invest between Rs. 5,000 to Rs. 5 Crore, making it accessible for first-timers and other depositors to expand their portfolios.

Calculating interest on your fixed deposits has now become easier with our FD calculator. Here are the things that you should be clear about:

• The amount you wish to invest in your deposits
• Maximum tenure that you want to extend for your interest payout

We don’t require any extra details beyond your personal information to book a fixed deposit with Shriram Finance.

To change your bank account details, you need to submit your updated bank details in the prescribed format at the given link. You need to provide a valid ID proof copy along with a personalized cancelled cheque (with your name printed). If the cheque is not personalized, you can put a bank statement of your updated account details. For the corporates, a Board resolution for change in bank account details has to be submitted.

In terms of the death of the sole depositor, an individual has to provide these documents:

• An attested copy of the death certificate
• Term deposit receipts,
• Will or testammentary disposition
• An attested copy of Legal Heirship certificate issued by a Tahsildar or corporation

If you’re wishing to make a premature withdrawal, the company retains the right in its absolute discretion to permit withdrawal of the deposit before maturity. The deposit receipt must be endorsed for A or S/s deposit and by the primary depositor for F or S/s deposit. According to the current RBI guidelines:

• One can proceed with withdrawal within 3 months from the deposit/renewal date (lock-in period. However, there will be no repayment (except in case of the depositor’s death)
• No interest will be provided after 3 month but before 6 months.
• After 6 months but before maturity, the interest payable will be 2% lower than the applicable rate for the deposit period or 3% lower than the minimum accepted rate if nothing is mentioned.

Yes! Shriram Finance offers both Auto-Renewal and Auto-Refund options for all FD depositors. If you’re following Auto Renewal, you can do:

• Renew principal on maturity
• Renew principal and interest on maturity

At maturity, you can either receive your payment or renew your maturity amount. If your deposit receipt is held in physical form and not set up for auto refund, your receipt will be discharged on a revenue stamp of one rupee to obtain surrender from the Company for Repayment. For cases of deposits with an S/S clause, any one of the depositors may give discharge. The company shall initiate the details of the maturity of the deposit at least two months before the maturity date. The interest will cease on the deposits if it's not renewed within six months from the maturity date. There are options for redemption payments only via National Electronic Clearing Services (NECS)/National Electronic Fund Transfer (NEFT) if it's available and crossed by an Account payee cheque for depositors in different locations.

You can renew the deposits from the maturity date if you receive renewal instructions along with receipts within six months, except if your deposits are in auto-renewal. The rate prevailing under such circumstances will be applicable on its maturity. Otherwise, it will be renewed, and the interest will cease upon maturity. For A or S/s accounts renewal, retaining one of the depositors as the first depositor is possible. However, renewals to those other than the second or third depositors aren’t possible.

Deposits held under the same name and PAN number will be clubbed together under a single customer folio for the calculation of income tax.

At Shriram Finance, you can avail monthly/ quarterly/ half-yearly options for interest payments. The interest is directly credited through NEFT (National Electronic Fund Transfer).

Here, you’ll find monthly, quarterly, half-yealr and annual interest payout options. You can chooser the right payout options that suits your options while booking the FD.

The TDS certificate mostly get its dispatch on the last weeks of July, October, January and May. To generate the TDS certificate, please check in to Shriram Finance’s customer portal.

Your deposits will be transferred only to the corresponding banka account that is updated on Shriram Finance’s portal.

When it comes to interest rate changes, the existing deposits remain as it is as Shriram Finance are obliged to pay the contracted rate till its maturity as per the current rules. The revised rates will apply to new or newly opened deposits and renewals made on or after the date the new rates took effect.

The public fixed deposit schemes of NBFCs are subject to the directions issued by the Reserve Bank of India under Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016.

The interest in a non-cumulative FD is credited accordingly:

• For Monthly Payout: On the last day of every month
• For Quarterly Payout: On the last day of March/June/September, and December
• For Half-Yearly Payout: On the last day of March and September
• For Yearly Payout: On the last day of March, the first interest payment will be made on the last day of the following month, after the FD is processed. For example, if your FD was initiated on 20th March, assuming you have opted for monthly interest, it will be paid at the end of the following month, i.e., 30th April.

In the event of unfortunate circumstances, such as the death of a depositor, the company will reimburse the deposit, regardless of the lock-in period. The surviving depositor(s), nominee, or legal heir(s) can receive the deposit on behalf of the deceased depositor upon request, provided they submit proof of death and other necessary documentation.

Shriram Finance offers both auto-renewal and auto refund options. If you’re booking a fixed deposit, you can choose any of these options. If the depositor has not opted for either, here are the options to choose from maturity:

• Renew your principal amount on the maturity date.
• Renew your interest amount on the maturity date.
• Close your fixed deposit at the maturity date.

GoldenPi lists only FDs from highly rated and reputable issuers such as Shriram Finance and Bajaj Finance, both of which carry the highest credit ratings in the market.

GoldenPi does not charge investors any booking or service fees for opening fixed deposits through its platform. The investment amount goes directly to the issuer, and all terms, rates, and payouts are exactly as provided by the FD issuer.

No, the interest payout frequency (monthly, quarterly, cumulative, etc.) is fixed at the time of booking and cannot be changed later. If you want a different frequency, you’ll need to book a new FD with your preferred payout option.

Shriram Finance FDs have FAAA from CRISIL and MAA+ from ICRA.