Shriram Finance FD Interest Rates

Shriram Group, headquartered in Chennai, is an Indian conglomerate founded in the year 1974. Starting with the basic chit fund system business modal, the company later entered the leading businesses famously known as Shriram City Union Finance, Shriram Transport Finance, and Shriram General Insurance.

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Shriram City Union Finance and Shriram Transport Finance offer Fixed Deposit options for individuals and senior citizens. Let us explore the Shriram Finance FD Rates in detail.

Shriram Transport Finance FD Rates

  1. Shriram Transport Finance Fixed Deposit Interest Rates on Deposits for Below Rs.5 Crores (Cumulative) (Online Rates)

    Rates with effect from 20th May 2022:

    Tenure Interest Rate per annum for Regular Citizens (in %) Interest Rate per annum for Senior Citizens (in %) 
    1 year 6.31 6.81
    Above 365 days but less than 1 year 3 months 6.54 7.04
    Above 1 year 3 months but less than 2 years 6.54 7.04
    Above 2 years but less than 30 months 7.48 7.98
    Above 30 months but less than 3 years 7.48 7.98
    Above 3 years but less than 45 months 7.53 8.03
    Above 45 months but less than 4 years 7.53 8.03
    Above 4 years but less than 5 years 7.62 8.12

    FD Rates are subject to change. 

  2. Shriram Transport Finance FD Interest Rates on Deposits for Below Rs. 5 crores (Cumulative) (Offline Rates)

    Rates with effect from 20th May 2022:

    Tenure Interest Rate per annum for Regular Citizens Interest Rate per annum for Senior Citizens
    1 year 6.31 6.81
    Above 365 days but less than 2 years 6.54 7.04
    Above 2 years but less than 3 years 7.48 7.98
    Above 3 years but less than 4 years 7.53 8.03
    Above 4 years but less than 5 years 7.62 8.12

    FD Rates are subject to change. 

  3. Shriram Transport Finance FD Interest Rates on Domestic Term Deposits for Below Rs. 5 crores (Non-Cumulative) (Offline Rates)

    Rates with effect from 10th September 2021:

    Tenure Monthly (in %) Quarterly (in %) Half Yearly (in %) Yearly (in %)
    1 year 6.31 6.35 6.40 6.50
    Above 365 days but less than 2 years 6.54 6.58 6.64 6.75
    Above 2 years but less than 3 years 7.25 7.30 7.37 7.50
    Above 3 years but less than 4 years 7.34 7.39 7.46 7.60
    Above 4 years but less than 5 years 7.48 7.53 7.60 7.75

    FD Rates are subject to change. 

  4. Shriram Transport Finance FD Interest Rates on Bulk Term Deposits for Above Rs.5 Crores (Non-Cumulative)

    Rates with effect from 10th September 2021:

    Tenure Monthly (in %) Quarterly (in %) Half Yearly (in %) Yearly (in %)
    1 year 6.56 6.60 6.66 6.77
    Above 365 days but less than 2 years 6.79 6.83 6.89 7.01
    Above 2 years but less than 3 years 7.50 7.55 7.62 7.77
    Above 3 years but less than 4 years 7.59 7.64 7.72 7.87
    Above 4 years but less than 5 years 7.73 7.79 7.86 8.02

    FD Rates are subject to change. 

  5. Shriram Transport Finance Fixed Deposit Interest Rates on Bulk Term Deposits for Above Rs.5 crores (Cumulative)

    Rates with effect from 10th September 2021:

    Tenure Interest Rate (per annum)
    1 year 6.56
    Above 365 days but less than 2 years 6.79
    Above 2 years but less than 3 years 7.50
    Above 3 years but less than 4 years 7.59
    Above 4 years but less than 5 years 7.73

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About Shriram Transport Finance FD Rates

One of India's most prominent financiers when it comes to commercial and passenger vehicles, Shriram Transport Finance, offers loans for both used and new vehicles. Shriram Transport offers FDs at a much higher interest rate when compared to many banks and financial institutions, making it a good investment option for individuals.

Types of Shriram Transport Finance FD Scheme

  • Cumulative scheme

  • Non-cumulative scheme

The detailed description of these fixed deposit schemes is as follows:

  1. Cumulative Scheme

    • The minimum amount to be deposited is Rs.5,000.

    • The scheme tenure can be for 1 year, 24 months, 36 months, 48 months, and 60 months.

    • 10% TDS is levied on the FD scheme.

    • Loan and premature withdrawal options both are available.

    • Auto-renewal of the scheme is available.

    • Internet banking facility is also available under the scheme.

  2. Non-Cumulative Scheme

    • The interest amount is payable to the investor through NEFT.

    • Interest payment modes can be monthly, quarterly, half-yearly, and yearly.

Features of Shriram Transport FD Scheme

The benefits and features of the Shriram Transport Finance Fixed Deposits are as follows:

  • A loan facility is available under this FD scheme wherein the investor can borrow a certain amount.

  • Premature withdrawals are also available if an investor does not wish to avail of the loan facility.

  • No interest amount is levied if the FD is terminated after 3 months but before 6 months of the purchase.

  • If terminated after 6 months, any time before maturity, 2% lower than the set FD rate is the due amount of the interest.

  • If the investor's income increases by Rs.5,000 in a year, 10% TDS is levied on the FD scheme, whereas 20% TDS is levied if the investor does not provide the (Permanent Account Number) PAN.

  • Form 15G and 15H are available for individuals below the income tax bracket for non-deduction of TDS.

  • Fixed Deposit Calculator can be used for the easy computation of the FD Maturity amount.

Eligibility for Shriram Transport FD Scheme

Below are the groups and individuals who are eligible to open a Shriram Finance Fixed Deposit Account:

  • Individual

  • Trust

  • Companies

  • Partnerships

  • BOI (Body of Individuals)

  • HUFs (Hindu Undivided Families)

  • Unincorporated associations

  • Foundations

Documents Required

  • PAN (Permanent Account Number) or Form 60

  • Passport

  • Voter ID

  • Aadhaar Card

  • Driving License

  • Proofs of Partnership: Partnership deed, ID Proofs, and Signatures of authorized signatories incorporating certificate. 

  • Any other document required by Shriram Finance.

How to Invest in Shriram Finance Transport FD?

An investor can opt for either of the following methods to invest in the Shriram Transport FD Scheme:

  1. Internet Banking

    To invest via internet banking, the following steps need to be followed:

    • Log in to the Shriram Finance official website.

    • Click on the "Open Fixed Deposit" or "Open Term Deposit" option under the "transaction" tab.

    • Fill in the needful details like the policy's tenure and the amount willing to be invested.

    • Provide nominee details.

    • Confirm all the details before proceeding further.

    • A receipt will be generated that can be downloaded instantly.

  2. Mobile Application MyShriram App

    To open an FD account via the mobile application of Shriram, the following steps need to be followed:

    • Download the app (MyShriram).

    • Sign in to the application by generating new credentials.

    • After signing in, head to the main menu and select the deposit option.

    • Under the "Deposits" option, choose the "Open Fixed Deposit" tab.

    • Fill in all the required details and upload the required documents.

    • A receipt will be generated after successfully providing all the details, which can be downloaded immediately.

  3. A Shriram Account Offline

    In the offline method of opening a Shriram Finance Transport Fixed Deposit Account, the investor needs to visit the nearest Shriram Finance branch and fill out forms to open their respective FD account. All the relevant documents must be submitted to the branch manager along with the cumulative deposit amount. After successfully verifying all the provided documents, the branch manager provides a receipt that is the account opening proof for the investor.

Shriram City Union Finance

  1. Shriram City Union Finance Fixed Deposit Interest Rates on Domestic Term Deposits for Below Rs.5 crores (Non-Cumulative) (Online Rates)

    Rates with effect from 20th May 2022:

    Tenure Monthly (in %) Quarterly (in %) Half Yearly (in %) Yearly (in %)
    1 year 6.31 6.35 6.40 6.50
    Above 365 days but less than 1 year 3 months 6.54 6.58 6.64 6.75
    Above 1 year 3 months but less than 2 years 6.54 6.58 6.64 6.75
    Above 2 years but less than 30 months 7.48 7.53 7.60 7.75
    Above 30 months but less than 3 years 7.48 7.53 7.60 7.75
    Above 3 years but less than 45 months 7.53 7.58 7.65 7.80
    Above 45 months but less than 4 years 7.53 7.58% 7.65 7.80
    4 years and above but less than 5 years 7.62 7.67 7.75 7.90

    FD Rates are subject to change. 

  2. Shriram City Union Finance FD Interest Rates on Domestic Term Deposits for Below Rs.5 Crores (Cumulative) (Online Rates)

    Rates with effect from 20th May 2022:

    Tenure Interest Rate per annum
    1 year 6.31%
    Above 365 days but less than 1 year 3 months 6.54%
    Above 1 year 3 months but less than 2 years 6.54%
    Above 2 years but less than 30 months 7.48%
    Above 30 months but less than 3 years 7.48%
    Above 3 years but less than 45 months 7.53%
    Above 45 months but less than 4 years 7.53%
    4 years and above but less than 5 years 7.62%

    FD Rates are subject to change. 

  3. Shriram Union City Finance FD Interest Rates on Bulk Term Deposits for Above Rs.5 Crores (Non-Cumulative) (Online Rates)

    Rates with effect from 20th May 2022:

    Tenure Monthly (in %) Quarterly (in %) Half Yearly (in %) Yearly (in %)
    1 year 6.56 6.60 6.66 6.77
    Above 365 days but less than 1 year 3 months 6.79 6.83 6.89 7.01
    Above 1 year 3 months but less than 2 years 6.79 6.83 6.89 7.01
    Above 2 years but less than 30 months 7.73 7.79 7.86 8.02
    Above 30 months but less than 3 years 7.73 7.79 7.86 8.02
    Above 3 years but less than 45 months 7.78 7.84 7.91 8.07
    Above 45 months but less than 4 years 7.78 7.84 7.91 8.07
    Above 4 years but less than 5 years 7.87 7.93 8.01 8.17

    FD Rates are subject to change. 

  4. Shriram Union City Finance FD Interest Rates on Bulk Term Deposits for Above Rs.5 Crores (Cumulative) (Online Rates)

    Rates with effect from 20th May 2022:

    Tenure Interest Rate per annum
    1 year 6.56%
    Above 365 days but less than 1 year 3 months 6.79%
    Above 1 year 3 months but less than 2 years 6.79%
    Above 2 years but less than 30 months 7.73%
    Above 30 months but less than 3 years 7.73%
    Above 3 years but less than 45 months 7.78%
    Above 45 months but less than 4 years 7.78%
    4 years and above but less than 5 years 7.87%

    FD Rates are subject to change. 

  5. Shriram City Union Finance FD Interest Rates on Domestic Term Deposits for Below Rs.5 Crores (Non-Cumulative) (Offline Rates)

    Rates with effect from 20th May 2022:

    Tenure Monthly (in %) Quarterly (in %) Half Yearly (in %) Yearly (in %)
    1 year 6.31% 6.35% 6.40% 6.50%
    Above 365 days but less than 2 years 6.54% 6.58% 6.64% 6.75%
    Above 2 years but less than 3 years 7.48% 7.53% 7.60% 7.75%
    Above 3 years but less than 4 years 7.53% 7.58% 7.65% 7.80%
    4 years and above but less than 5 years 7.62% 7.67% 7.75% 7.90%

    FD Rates are subject to change. 

  6. Shriram City Union Finance FD Interest Rates on Domestic Term Deposits for Below Rs.5 Crores (Cumulative) (Offline Rates)

    Rates with effect from 20th May 2022:

    Tenure Interest Rate per annum
    1 year 6.31%
    Above 365 days but less than 2 years 6.54%
    Above 2 years but less than 3 years 7.48%
    Above 3 years but less than 4 years 7.53%
    4 years and above but less than 5 years 7.62%

    FD Rates are subject to change. 

  7. Shriram City Union Finance FD Interest Rates on Domestic Term Deposits for Above Rs.5 Crores (Non-Cumulative) (Offline Rates)

    Rates with effect from 20th May 2022:

    Tenure Monthly (in %) Quarterly (in %) Half Yearly (in %) Yearly (in %)
    1 year 6.56% 6.60% 6.66% 6.77%
    Above 365 days but less than 2 years 6.79% 6.83% 6.89% 7.01%
    Above 2 years but less than 3 years 7.73% 7.79% 7.86% 8.02%
    Above 3 years but less than 4 years 7.78% 7.84% 7.91% 8.07%
    4 years and above but less than 5 years 7.87% 7.93% 8.01% 8.17%

    FD Rates are subject to change. 

  8. Shriram City Union Finance FD Interest Rates on Domestic Term Deposits for Above Rs. 5 crores (Cumulative) (Offline Rates)

    Rates with effect from 20th May 2022:

    Tenure Interest Rate per annum
    1 year 6.56%
    Above 365 days but less than 2 years 6.79%
    Above 2 years but less than 3 years 7.73%
    Above 3 years but less than 4 years 7.78%
    4 years and above but less than 5 years 7.87%

    FD Rates are subject to change. 

About Shriram City Union Finance

An NBFC (Non-Banking Financial Company), Shriram City Union Finance, works in the retail financing sector, including micro-enterprises and MSME (Small and Medium Enterprises) financing, along with providing various loan facilities under the category of gold, personal, two-wheelers, etc.

The Shriram City Union Finance FD Scheme offers various benefits to its customers, including tenure flexibility, easy-on-pocket tenure amounts, additional senior citizen benefits, etc.

Features of Shriram City Union Finance FD Scheme

The benefits and features of the Shriram City Union Finance Fixed Deposits are as follows:

  • The deposit tenure under this FD Scheme ranges from 1 year to 5 years.

  • Loans can be availed up to a maximum limit of 75% under the Shriram City Union FD Scheme.

  • The interest rate is 2% above the normal rate if the loan is availed in the FD Account.

  • If the investor's income increases by Rs.5,000 in a year, 10% TDS is levied on the FD scheme, whereas 20% TDS is levied if the investor does not provide the (Permanent Account Number) PAN.

  • No interest amount is levied if the FD is terminated after 3 months but before 6 months of the purchase.

  • If terminated after 6 months, any time before maturity, 2% lower than the set FD rate is the due amount of the interest.

Types of Shriram City Union Finance FD Scheme

  • Cumulative scheme

  • Non-cumulative scheme

The detailed description of these fixed deposit schemes is as follows:

  1. Cumulative Scheme

    • The minimum deposited amount under this scheme is Rs.5,000.

    • The deposited amount should be in multiples of Rs.1,000.

    • The interest earned throughout the tenure is compounded along with the principal amount.

    • The maturity amount is paid one-time payment after the tenure.

  2. Non-Cumulative Scheme

    • The minimum deposited amount under this scheme is Rs.5,000.

    • The deposited amount should be in multiples of Rs.1,000.

    • Ideal for individuals with uncertain earnings and retirees.

    • Interest payment modes can be monthly, quarterly, half-yearly, and yearly.

Eligibility for Shriram City Union Finance FD Scheme

Below are the groups and individuals who are eligible to open a Shriram Finance Fixed Deposit Account:

  • Individual

  • Trust

  • Companies

  • BOI (Body of Individuals)

  • HUFs (Hindu Undivided Families)

  • Minors

  • Senior Citizens

Documents Required

  • PAN (Permanent Account Number) or Form 60

  • Passport

  • Voter ID

  • Aadhaar card

  • Driving License

  • Photograph

  • Any other document required by Shriram Finance.

How to Invest in Shriram City Union Finance FD?

Investment under the Shriram City Union Finance FD can be made similarly to that of the Shriram Transport Finance Fixed Deposits Scheme. Investment can be made through both offline and online methods.

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