Shriram Finance FD Interest Rates

Shriram Finance FDs offer a reliable investment option for investors looking to maximise their savings with higher returns, flexibility, and security. With competitive interest rates, you can choose from flexible tenures that range between 12 and 60 months to best suit your financial goals. Whether you are planning for short-term or long-term growth, these FDs provide an investment avenue that allows you to get started on your investment journey with ease.

Here are the latest cumulative interest rates that are being offered for regular and senior citizens:

Note: The interest rates mentioned above are subject to change at Shriram Finance’s discretion. Check the NBFC’s official website for the latest rates before investing. Women depositors can receive an additional 0.10% p.a. interest over prevailing rates.

Here are the latest non-cumulative interest rates that are being offered for regular and senior citizens:

Note: The interest rates mentioned above are subject to change at Shriram Finance’s discretion. Check the NBFC’s official website for the latest rates before investing. Women depositors can receive an additional 0.10% p.a. interest over prevailing rates.

Here are some of the benefits offered by Shriram Finance when you invest in a fixed deposit:

• High Interest Rates

Enjoy competitive interest rates on FDs, which can be as high as 9.40% p.a., allowing you to earn substantial returns on your investment.

• Flexible Tenure Options

Choose from a wide range of tenures between 12 and 60 months, providing flexibility to better align with your financial goals.

• Safety and Security

These FDs are considered safe investments due to their high credit ratings from agencies like CRISIL and ICRA.

• Additional Benefits for Senior Citizens

Senior citizens receive an additional interest rate on top of the standard rates, helping them better plan for retirement.

• Loan Against FD

Opt for a loan against your FD, allowing you to borrow funds without having to prematurely break your FD, providing liquidity when needed.

• Easy Online Management

Easily manage your FDs online through the Shriram Finance website or mobile app. You can book new FDs, renew matured ones, or choose payout options with ease.

• Auto-renewal Facility

An additional 0.25% interest is offered on auto-renewal. Investors can choose the auto-renewal facility to keep their fixed deposit invested upon maturity, ensuring continuous earnings without the need for manual re-investment. Example for Returns on Investment

 

Here is an example that breaks down returns on investment upon maturity for a tenure of 3 and 5 years at an interest rate of 9.40% p.a.

Note: The above table is for illustration purposes only. Please visit the NBFC’s website to get the latest interest rates.

A fixed deposit may incur charges and deductions. It is important to understand these charges and the impact they can have on your overall returns at maturity. Here are the charges involved:

Premature Withdrawal

Shriram Finance provides investors with the option to prematurely withdraw their fixed deposit before it reaches maturity. This flexibility allows investors to access their funds in case of an emergency. However, certain penalties may apply, and these will vary based on the tenure.

 

Here is a table that shows the prepayment rates you can expect for different tenures:

Tax Deducted at Source 

The interest you earn on a fixed deposit is taxable and will be calculated based on the income tax slab you fall under. Tax is deducted at source (TDS) if the total interest income in a financial year exceeds ₹40,000 for an individual or ₹50,000 for a senior citizen. The rate is 10% if a PAN card is provided and 20% in case it is not provided. Additionally, if your total taxable income is below ₹2.5 Lakhs per annum, you are exempt from paying TDS on FD. To save on tax, ensure you submit a self-declaration Form 15G or 15H to claim this exemption.

The process of investing in a Shriram Finance FD via Bajaj Markets is straightforward. Here is a step-by-step guide:

1. Go to the fixed deposit section on the Bajaj Markets website

2. Fill out the ‘Invest Now’ form with your mobile number, date of birth, and pin code

3. Enter the OTP sent to your mobile number

4. Compare the interest rates from different banks and NBFCs

5. Choose the Shriram Finance FD from the list, along with the tenure and interest payout option that suits your needs

6. Enter your name and PAN card details

7. Upload your PAN card, Aadhaar card, and a recent photo for verification

8. Double-check and update details like your address, marital status, and email address

9. Enter your bank details, including your bank’s name, IFSC code, and account number

10. Add your nominee information

11. Complete the online payment using your preferred payment method