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Shriram Transport Finance Fixed Deposit

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.)

Types of Shriram Transport Finance Fixed Deposit Schemes

Scheme Options

Non-Cumulative Deposits

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:

  • Monthly – Last Day of Every Month
  • Quarterly – Last Day of March/June/September/December
  • Half Yearly – Last Day of March/September
  • Yearly – Last Day of March

Cumulative Deposits

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

Shriram Transport Finance Rates of Interest on Fixed Deposit

Interest rates on fresh deposits/renewals [Investment via online mode - Shriram Transport Website] (w.e.f. 01st November 2019)

Normal Scheme

Period (months)Monthly % p.a.Quarterly % p.a.Half yearly % p.a.Yearly % p.a.
127.727.777.858.00
157.958.008.088.25
247.958.008.088.25
308.428.488.578.75
368.428.488.578.75
458.658.718.819.00
488.518.578.668.85
608.658.718.819.00

Cumulative Deposit

Period (months)Rate % (p.a. at Monthly rests)Effective yield % p.a.Maturity value for Rs. 5,000
127.728.005,400
157.958.335,521
247.958.595,859
308.429.346,168
368.429.546,431
458.6510.176,907
488.5110.107,020
608.6510.777,693

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

Documents Required for Shriram Transport Finance Fixed Deposit

ID Proof

  • Passport
  • PAN Card
  • Job Card by NREGA
  • Aadhaar Card
  • Driving License
  • Voter ID

Address Proof

  • Passport
  • Driving License
  • Aadhar Card
  • Pension Payment order
  • Property/Municipal Tax Receipt
  • Bank Pass book/Bank Statement
  • Voter ID
  • Job Card by NREGA
  • Accommodation Letter from Employer
  • Documents by Foreign Authorities
  • Latest Utility Bill of any service provider

Recent self-attested Photograph has to be affixed on the Deposit Application form.

For Company

  • Certificate of incorporation
  • Memorandum and Articles of Association
  • PAN copy of the company
  • A resolution from the Board of Directors and power of attorney granted to its Managers, Officers or employees to transact on its behalf
  • Proof of identity and address of the authorised signatory of the company signing the application

For Partnership Firm

  • Registration certificate
  • Identity and address proof of the authorised signatories
  • Partnership deed
  • Authorised signatory List

For Trust and Foundation

  • Registration certificate
  • Trust deed
  • Identity and address proof of the authorised signatory of the trust/institution signing the application

For HUF

  • HUF PAN card
  • HUF Declaration
  • Identity and address proof of the Karta

For Unincorporated Association or Body of Individuals

  • Resolution of the managing Body of such Association or Body of Individuals
  • Power of attorney granted to him to transact on its behalf
  • Identity and address proof of the person holding the power of attorney to transact business on behalf of the Unincorporated association or Body of Individual
  • Any other information as may be required to establish the legal existence of such an association or body of individuals

Source: Official website of Shriram Transport Finance Company

How to Apply for Shriram Transport Finance Fixed Deposit Schemes

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.

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