1. Are deposits of Shriram Finance insured by RBI? ▼
No. Deposits of Shriram Finance are not guaranteed by RBI.
2. Do I need to have an account with Shriram Finance to book an FD? ▼
No, you do not need to have an account with Shriram Finance to book an FD.
3. Are there Tax Saving FDs with Shriram Finance? ▼
No, there are no Tax Saving FDs with Shriram Finance.
4. What is the minimum and maximum deposit amount? ▼
Deposits are accepted in multiples of ₹1,000, subject to a minimum of ₹5,000 for both cumulative and non-cumulative deposits. The maximum deposit amount is ₹2 Crore.
5. What is the minimum and maximum tenure? ▼
The minimum tenure is 12 months and the maximum tenure is 60 months.
6. Are there special benefits for women investors? ▼
Yes, Shriram Finance offers an additional 0.05% p.a. interest rate for women investors.
7. How many nominees are allowed? ▼
Currently, only one nominee is allowed per FD.
8. Are monthly interest payments available? ▼
Yes, monthly interest payment options are available.
9. Is auto-renewal allowed? ▼
Yes. Depositors can opt for auto-renewal at the time of booking.
Option 1: Renew Principal only on maturity.
Option 2: Renew Principal + Interest on maturity.
10. What are the available payment modes? ▼
The available payment modes are Net Banking and UPI.
11. How will I receive my Fixed Deposit Receipt (FDR)? ▼
An E Receipt will be sent to your registered email ID after the transaction is completed. If you do not receive it, immediately inform the company. A duplicate FDR may be issued upon submission of the required documents. Please raise a request at
[email protected].
12. Is joint holding allowed? ▼
No. Joint holding is not allowed.
13. Can I make payment from any bank account? ▼
Yes, payment can be made from any account where you are the primary holder.
14. Can I access my FD account via app or login? ▼
Yes. You can access your FD account through the Shriram Finance app or login portal.
15. Is premature withdrawal allowed? ▼
Yes, premature withdrawal is allowed subject to a 3 month lock in period.
16. What is the penalty for premature withdrawal? ▼
Up to 3 months, no repayment is allowed except in case of death.
After 3 months but before 6 months, no interest will be paid.
After 6 months but before maturity, interest payable will be 2% lower than the applicable rate for the period the deposit has run, or 3% lower than the minimum rate accepted by the company.
17. What should I do if I lose my FD receipt? ▼
Immediately inform the company. A duplicate FDR may be issued on submission of required documents. Please raise a request at
[email protected].
18. How long must I wait before making a premature withdrawal? ▼
A minimum of 90 days (3 months) is required before making a premature withdrawal.
19. How can I get the FD statement for tax filing? ▼
Shriram Finance provides TDS/P&L statements to your registered email. Please raise a request at
[email protected].
20. Are there benefits for Senior Citizens? ▼
Yes. Senior citizens receive an additional 0.50% p.a. interest rate.
21. What is the compounding frequency? ▼
Interest is compounded on a monthly basis.
22. Can I withdraw interest without breaking the FD? ▼
No, interest cannot be withdrawn without breaking the FD.
23. When will I receive funds after placing a withdrawal request? ▼
Funds will be credited within 7 working days after a successful withdrawal instruction.
24. Which TDS exemptions forms are suitable for Shriram Finance? ▼
Form 15G and Form 15H are applicable. Form 121 is not applicable yet.
25. How to submit Form 15H and 15G online? ▼
After booking the FD, customers will receive an SMS submission link. If the link is lost, Shriram Finance will retrigger the link upon request.
26. Is there API support for Shriram Finance? ▼
No, API support is not available for Shriram Finance.