A fixed deposit is a financial instrument/investment option provided by banks and NBFCs that offer a higher rate of interest when compared with a savings deposit. FD is one of the most secure forms of investments as its returns are guaranteed. Shriram Transport Finance Company’s Fixed Deposit scheme is a preferred deposit option among many conservative investors seeking high interest rate and steady returns. It holds a rating of “MAA+/ with Stable Outlook” by ICRA and “FAAA/Stable” by CRISIL.
About Shriram Transport Finance Company: STFC is among India’s top players in the commercial vehicle finance segment. The company offers a wide range of products and services, including Fixed Deposit, Commercial Vehicle Loans, Life Insurance, Working Capital Loans and Business Loans. Integrity, operational efficiency and a strong focus on meeting the requirements of the common man are the values driving STFC.
(Note - All the information contained in this page has been sourced from the official website of Shriram Transport Finance Company.)
This is a deposit where the interest is payable at monthly/quarterly/half-yearly/yearly intervals. The deposit is accepted in multiples of Rs.1,000, subject to a minimum sum of Rs. 5,000 per deposit.
Interest for Non-Cumulative Deposits shall be paid through National Electronic Fund Transfer, as per below given schedule:
This is a deposit where the interest is payable at the time of maturity along with the principal amount. The deposit is accepted in multiples of Rs. 1,000, subject to a minimum sum of Rs. 5,000 per deposit.
Source: Official website of Shriram Transport Finance Company
Interest rates on fresh deposits/renewals [Investment via online mode - Shriram Transport Website] (w.e.f. 01st November 2019)
| Period (months) | Monthly % p.a. | Quarterly % p.a. | Half yearly % p.a. | Yearly % p.a. |
|---|---|---|---|---|
| 12 | 7.72 | 7.77 | 7.85 | 8.00 |
| 15 | 7.95 | 8.00 | 8.08 | 8.25 |
| 24 | 7.95 | 8.00 | 8.08 | 8.25 |
| 30 | 8.42 | 8.48 | 8.57 | 8.75 |
| 36 | 8.42 | 8.48 | 8.57 | 8.75 |
| 45 | 8.65 | 8.71 | 8.81 | 9.00 |
| 48 | 8.51 | 8.57 | 8.66 | 8.85 |
| 60 | 8.65 | 8.71 | 8.81 | 9.00 |
| Period (months) | Rate % (p.a. at Monthly rests) | Effective yield % p.a. | Maturity value for Rs. 5,000 |
|---|---|---|---|
| 12 | 7.72 | 8.00 | 5,400 |
| 15 | 7.95 | 8.33 | 5,521 |
| 24 | 7.95 | 8.59 | 5,859 |
| 30 | 8.42 | 9.34 | 6,168 |
| 36 | 8.42 | 9.54 | 6,431 |
| 45 | 8.65 | 10.17 | 6,907 |
| 48 | 8.51 | 10.10 | 7,020 |
| 60 | 8.65 | 10.77 | 7,693 |
Additional interest of 0.25% p.a. will be paid for senior citizens.
Additional interest of 0.25% p.a. on all renewals, where the deposit is matured on or after November 1, 2019.
Additional interest of 0.15% p.a. to employees of Shriram Group Companies and their relatives.
Source: Official website of Shriram Transport Finance Company
Recent self-attested Photograph has to be affixed on the Deposit Application form.
Source: Official website of Shriram Transport Finance Company
Entities can apply for Shriram Transport Finance Fixed Deposit either by heading to the company’s nearest branch office or through its official website. Shriram Transport Finance has a Branch Locator facility available on its website that allows users to find offices in the vicinity. Applicants who wish to go through the online route would need to login using their User ID and Password, and then place a request to open a Fixed Deposit account.
