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Shriram Finance Fixed Deposit

Shriram Finance Fixed Deposit

NBFCAA+ (Stable) 

7.95%

Interest for 3 years

Shriram Finance FD Interest Rates 2023

TenureNormal Citizen FD RateSenior Citizen FD Rate
11 months 30 days - 11 months 30 days7.34%7.84%
1 year - 1 year 5 months 28 days7.48%7.98%
1 year 5 months 29 days - 1 year 11 months 30 days7.76%8.26%
2 years - 2 years 5 months 28 days7.9%8.4%
2 years 5 months 29 days - 2 years 11 months 30 days7.95%8.45%
3 years - 3 years 5 months 29 days8%8.5%
3 years 6 months - 4 years 11 months 29 days8.18%8.68%

Note: All interest rates shown above are as on 4th May 2023

About Shriram Finance FD

Shriram Finance Limited was incorporated in 1986 and has its headquarters in Chennai. In November 2022, Shriram Group’s entities – Shriram Capital Limited, Shriram City Union Finance Limited and Shriram Transport Finance Company Limited merged to form Shriram Finance Limited. Shriram Finance offers home loans, car loans, two-wheeler loans, credit solutions for commercial vehicles, gold loans, and personal and small business loans. As of December 2022, Shriram Finance has 2,901 branches across India. The total AUM as of December 2022 stood at INR 1.77 lac crores. Shriram Finance’s Fixed Deposits have an AA+ (Stable) Credit Rating.

Shriram Finance FD

7.34% - 8.18%

FD Rate

7.84% - 8.68%

FD Rate for Seniors

₹ 5000

Minimum Deposit

₹ 5 Crores

Maximum Deposit

-

Lock-in

-

FD Tenure

-

Loan against FD

AA+ (Stable)

CRISIL Rating

Shriram Finance FD Returns Based on Investment Amount

Investment AmountFor 3 years with interest of 7.95%For 5 years with interest of 8.18%
₹ 50,000 ₹ 63,417₹ 75,161
₹ 1 lakh ₹ 1,26,835₹ 1,50,322
₹ 2 lakh ₹ 2,53,669₹ 3,00,645
₹ 5 lakh ₹ 6,34,173₹ 7,51,612
₹ 10 lakh ₹ 12,68,346₹ 15,03,224

Compare Shriram Finance Fixed Deposit Returns with Top Banks

Use FD calculator to change values and compare your returns from top banks.

vs
DBS Bank FD
Shriram Finance FD
Shriram Finance FD
Maturity Amount₹ 1,07,592₹ 1,07,763
Total Investment Amount₹ 1,00,000₹ 1,00,000
Total Interest Gained₹7,592₹ 7,763

Compare Shriram Finance Fixed Deposit Rates with Top Banks

Bank NameFD Interest Rates
DBS Bank FD		7.5% - 8%
Jammu And Kashmir Grameen Bank FD		6.5% - 7%
Central Bank of India FD		6.25% - 6.75%
IDBI Bank FD		6.5% - 7%
Madhyanchal Gramin Bank FD		5.3% - 5.8%
Mizoram Rural Bank FD		6.5% - 6.5%
Axis Bank FD		7% - 7.75%
Bangiya Gramin Vikash Bank FD		6.25% - 6.75%
Bandhan Bank FD		7.25% - 7.75%
LIC Housing Finance FD		7.75% - 8%

Calculate Shriram Finance FD Returns

₹ 1,00,000

Total Investment

7,592

Wealth Gained

₹ 1,07,592

Maturity Amount

Track your existing FDs
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The flexible & tax efficient alternative to FDs.

Shriram Transport Finance Company Ltd. (STFC) is a commercial vehicle finance company. It is also an NBFC that offers savings products like FDs. Shriram Finance FDs are rated FAAA and MAA+ by CRISIL and ICRA, respectively. This article covers Shriram Finance FD, its types and interest rates in detail.

Types of Shriram Finance FD Schemes

Shriram Finance offers two types of FD schemes, namely cumulative and non-cumulative. Following are the features of each of these schemes.

Non-Cumulative FD Scheme

  • Tenure: The tenure of Non-Cumulative FD is available in 12, 24, 36, 48 and 60 months.
  • Minimum investment: The minimum investment is INR 5,000, and deposits can be only in multiples of INR 1,000.
  • Premature withdrawal: No premature withdrawal up to 3 months of the deposit. If the deposit is withdrawn before six months, but after three months, then no interest will be paid. However, if the deposit is withdrawn after six months, Shriram Finance charges a penalty of 2% on the contracted interest rate.
  • Auto-renewal and auto refund: Shriram finance allows auto-renewal and also an auto refund of the non-cumulative fixed deposit.
  • Safety: Shriram Finance FDs are rated ‘FAAA or Stable’ by CRISIL and ‘MAA+ or with a stable outlook’ by ICRA. These indicate the highest degree of safety and high credit quality, respectively, hence investing in Shriram Finance FD is safe.

Cumulative FD Scheme

  • Tenure: The tenure of Cumulative FD is available in 12, 24, 36, 48 and 60 months.
  • Minimum investment: The minimum investment in cumulative FD is INR 5,000, and deposits can be only in multiples of INR 1,000.
  • Premature withdrawal: No premature withdrawal up to 3 months of the deposit. If the cumulative FD is withdrawn before six months but after three months, then no interest will be paid. However, if the deposit is withdrawn after six months, Shriram Finance charges a penalty of 2% on the contracted interest rate.
  • Auto-renewal and auto refund: Shriram finance allows auto-renewal and auto refund of the cumulative fixed deposit.
  • Safety: Shriram Finance FDs are rated ‘FAAA or Stable’ by CRISIL and ‘MAA+ or with a stable outlook’ by ICRA. These indicate the highest degree of safety and high credit quality, respectively, hence investing in Shriram Finance FD is safe.

Eligibility To Open a Shriram Finance FD Deposit Account

Following is the eligibility criteria for opening a fixed deposit account with Shriram Finance:

  • Individuals
  • Partnerships
  • Companies
  • Hindu Undivided Family (HUF)
  • Trusts and Foundations
  • Unincorporated associations
  • Body of Individuals
  • NRIs

How to Open a Shriram Finance FD Deposit Account?

One can open a Shriram Finance FD account through various modes such as internet banking, mobile app and offline.

Internet Banking

The following steps will help an individual to open a Shriram Finance FD account through internet banking:

  • Firstly, go to Shriram Finance Website.
  • On the menu tab, click on products.
  • Under products, select ‘Deposits’ and click on ‘Fixed Deposits.’
  • On the fixed deposits page, click on ‘Invest now’.
  • Enter all the necessary details, including nominee details.
  • Provide payment and maturity details and make the payment towards the FD.
  • Accept the terms and conditions and then click on ‘Submit’ to open an FD account with Shriram Finance.

Through Mobile App

MyShriram App

  • Following are the steps to invest in Shriram Finance FD using the MyShriram App:
  • Download the MyShriram App
  • Under products, click on ‘Deposits’ and select ‘Fixed Deposits’.
  • Enter all the necessary details, including nominee, payment and maturity instructions.
  • Verify all the details and accept the terms and conditions and ‘Submit’ to open an FD account with Shriram Finance using their Mobile App.

Offline Shriram Finance FD Opening

To open a Shriram Finance FD, visit the nearest Shriram Finance branch, fill in the FD application form with all the necessary details, and submit all necessary documents. Upon successful opening of the FD account, Shriram Finance will provide an FD receipt.

Documents Required to Open a Shriram Finance FD Deposit Account

Following are the documents that one requires to open an FD account with Shriram Finance:

  • Pan Card or Form 60 as defined in Income Tax Rules, 1962
  • Latest photographs
  • Copy of Officially Valid Documents (OVD) like Passport, Aadhar Card, Voter ID, NREGA Job Card, Driving License, or letter by National Population Register with name and address.
  • For a company, certificate of incorporation, memorandum and articles of association, proof of identity and address.
  • Registration certificate and partnership deed for a partnership firm
  • HUF declaration for a HUF
  • Any other documents as required by Shriram Finance

Frequently Asked Questions

What is the highest Shriram Finance FD rate today?

The highest Shriram Finance FD rates for general citizens is 8.18% p.a. and 8.68% p.a. for senior citizens.

What is the highest interest rate on Shriram Finance 1 year FD scheme?

The highest interest rate on Shriram Finance 1 year FD scheme is 7.34% p.a.

What is Shriram Finance FD scheme interest rate for 5 years?

8.18% p.a is the interest rate for 5 years on Shriram Finance FD scheme.

How many years FD will double in Shriram Finance?

To know in how many years Shriram Finance Bank FD will double, we can follow the 72 rule. We have to divide 72 by the interest rate, and the result will be the number of years Shriram Finance Bank FD will double. The current highest Shriram Finance FD interest rate is 8.18% so investors will double the investment in 8.80 years. Similarly, senior citizen depositors will double their FD investment in 8.29 years, where the highest FD rate for senior citizens is 8.68%.

What is Shriram Finance FD minimum deposit amount?

The minimum investment in Shriram Finance FD is INR 5,000. However, there is no limit on the maximum amount of investment in Shriram Finance FD.

What is senior citizen fixed deposit interest rates in Shriram Finance?

The senior citizen fixed deposit interest rates in Shriram Finance range between 7.84% to 8.68% p.a. for an available minimum and maximum investment duration.

What are the available FD tenures in Shriram Finance?

Shriram Finance FD tenure ranges from 11 months 30 days to 4 years 11 months 29 days

What is Shriram Finance FD ROI for 10 lakh deposit for 1 year?

The interest from the Shriram Finance FD calculator for 10 lakh deposit for 1 year will be INR 75,920. The maturity value will be INR 10,75,920. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.

How to check the fixed deposit balance in Shriram Finance?

You can check Shriram Finance FD balance either online or offline mode. For online mode, log in to the Shriram Finance internet banking portal. Alternatively, you can visit the nearest Shriram Finance bank to update your passbook for FD balance enquiry.

How many FDs can be opened in Shriram Finance?

There is no restriction on the number of FDs you can open with Shriram Finance.