Shriram Fixed Deposits Rates w.e.f 01 August 2020 – STFC & SCUF

SHRIRAM FIXED DEPOSITS – FRESH RATES

General Category
Period (Months) Monthly % p.a Amount (Monthly) Quarterly % p.a Amount (Quarterly) Half Yearly % p.a Amount (Half Yearly) Yearly % p.a Amount (Yearly) Effective Yield % p.a Amount          (Effective Yield)
12 7.25 ₹ 615.83 7.30 ₹ 1,825.00 7.37 ₹ 3,685.00 7.50 ₹ 7,500.00 7.50 ₹ 1,07,500.00
24 7.44 ₹ 620.00 7.49 ₹ 1,872.50 7.56 ₹ 3,780.00 7.70 ₹ 7,700.00 8.00 ₹ 1,16,000.00
36 7.86 ₹ 655.00 7.92 ₹ 1,980.00 8.00 ₹ 4,000.00 8.15 ₹ 8,150.00 8.84 ₹ 1,26,520.00
48 7.90 ₹ 658.33 7.96 ₹ 1,990.00 8.04 ₹ 4,020.00 8.20 ₹ 8,200.00 9.26 ₹ 1,37,040.00
60 8.09 ₹ 674.17 8.15 ₹ 2,037.50 8.23 ₹ 4,115.00 8.40 ₹ 8,400.00 9.94 ₹ 1,49,700.00
Senior Citizen Category (Age 60)
Period (Months) Monthly % p.a Amount (Monthly) Quarterly % p.a Amount (Quarterly) Half Yearly % p.a Amount (Half Yearly) Yearly % p.a Amount (Yearly) Effective Yield % p.a Amount          (Effective Yield)
12 7.65 ₹ 615.83 7.70 ₹ 1,925.00 7.78 ₹ 3,890.00 7.93 ₹ 7,930.00 7.93 ₹ 1,07,930.00
24 7.84 ₹ 653.33 7.90 ₹ 1,975.00 7.97 ₹ 3,985.00 8.13 ₹ 8,130.00 8.46 ₹ 1,16,920.00
36 8.26 ₹ 688.33 8.32 ₹ 2,080.00 8.41 ₹ 4,205.00 8.59 ₹ 8,590.00 9.34 ₹ 1,28,020.00
48 8.30 ₹ 691.67 8.36 ₹ 2,090.00 8.45 ₹ 4,225.00 8.63 ₹ 8,630.00 9.81 ₹ 1,39,240.00
60 8.49 ₹ 707.50 8.56 ₹ 2,140.00 8.65 ₹ 4,325.00 8.83 ₹ 8,830.00 10.54 ₹ 1,52,700.00

 


SHRIRAM FIXED DEPOSITS – RENEWAL RATES

SHRIRAM (STFC & SCUF) – FIXED DEPOSITS (Renewals)
General Category
Period (Months) Monthly % p.a Amount (Monthly) Quarterly % p.a Amount (Quarterly) Half Yearly % p.a Amount (Half Yearly) Yearly % p.a Amount (Yearly) Effective Yield % p.a Amount          (Effective Yield)
12 7.50 ₹ 615.83 7.55 ₹ 1,887.50 7.62 ₹ 3,810.00 7.77 ₹ 7,770.00 7.77 ₹ 1,07,770.00
24 7.69 ₹ 640.83 7.74 ₹ 1,935.00 7.82 ₹ 3,910.00 7.97 ₹ 7,970.00 8.29 ₹ 1,16,580.00
36 8.11 ₹ 675.83 8.17 ₹ 2,042.50 8.25 ₹ 4,125.00 8.42 ₹ 8,420.00 9.15 ₹ 1,27,450.00
48 8.15 ₹ 679.17 8.21 ₹ 2,052.50 8.29 ₹ 4,145.00 8.47 ₹ 8,470.00 9.61 ₹ 1,38,440.00
60 8.34 ₹ 695.00 8.40 ₹ 2,100.00 8.49 ₹ 4,245.00 8.67 ₹ 8,670.00 10.31 ₹ 1,51,550.00
Senior Citizen Category (Age 60)
Period (Months) Monthly % p.a Amount (Monthly) Quarterly % p.a Amount (Quarterly) Half Yearly % p.a Amount (Half Yearly) Yearly % p.a Amount (Yearly) Effective Yield % p.a Amount          (Effective Yield)
12 7.90 ₹ 615.83 7.96 ₹ 1,990.00 8.04 ₹ 4,020.00 8.20 ₹ 8,200.00 8.20 ₹ 1,08,200.00
24 8.09 ₹ 674.17 8.15 ₹ 2,037.50 8.23 ₹ 4,115.00 8.40 ₹ 8,400.00 8.76 ₹ 1,17,520.00
36 8.51 ₹ 709.17 8.58 ₹ 2,145.00 8.67 ₹ 4,335.00 8.86 ₹ 8,860.00 9.66 ₹ 1,28,980.00
48 8.55 ₹ 712.50 8.62 ₹ 2,155.00 8.71 ₹ 4,355.00 8.90 ₹ 8,900.00 10.16 ₹ 1,40,640.00
60 8.74 ₹ 728.33 8.81 ₹ 2,202.50 8.91 ₹ 4,455.00 9.10 ₹ 9,100.00 10.92 ₹ 1,54,600.00

Shriram Transport Finance Company & Shriram City Union Finance Company are two companies selling fixed deposits in the market at the highest interest rates. Shriram is a Non-Banking Finance Company (NBFC). Shriram Transport Finance Company generate funds from fixed deposits and other sources and provides finance to second hands trucks. Trucks play a crucial rule in running the company and market and can not be stopped. Based on this system we can say, Shriram Transport is a company with a strong base. On the other side, Shriram City Union Finance Company get funds from Fixed Deposits and other sources and do finance of Two Wheeler. Shriram also deals in Life Insurance, Motor Insurance, Mutual Funds and more.

SHRIRAM FIXED DEPOSITS LOCK-IN PERIOD

The lockin period of Shriram is for three months. A person who has invested his money in Shriram Fixed Deposits can do premature withdrawal after three months of lockin. From three months to six months you can request for premature withdrawal but you will not get any interest on it. For these three months, you can get only the principal amount refund. After six months, this interest rate will be deducted by 2% and you can get a refund on the principal amount as well as interest amount (Mentioned in FD – 2%)

 

Documents Required for Shriram Fixed Deposits

To do investment in Shriram Fixed Deposits you need

First Holder Documents

  • Self Attested PAN Card
  • Self Attested Address Proof (Eg: Aadhar Card)
  • Passport size Photo
  • Cheque (Cancelled / Investment Amount) – Name Printed

2nd & 3rd Holder Documents

  • Self Attested PAN Card
  • Self Attested Address Proof (Eg: Aadhar Card)
  • Passport size Photo

Nominee

  • Name, Address & Relation with the first holder. (No ID Proof or signature required)

 

Important Points

  • The interest amount is taxable but the provision of 15 G / 15 H is available.
  • Premature maturity is allowed after 3 months of investments
  • Single Nominee is allowed
  • Join Fixed Deposits with a maximum of three holders are allowed.
  • Bank details should be in the name of the first holder only.
  • The company provides an additional amount for senior citizens
  • Renewals – At the time of renewals interest would be applicable (Higher than fresh rates).
  • Loan under Fixed Deposit is allowed.
  • Fixed Deposits Tenure is (Years) – 1,2,3,4,5
  • Interest Options – Monthly, Quarterly, Half Yearly, Yearly, on Maturity.

 

 

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