Frequently Asked Questions About Fixed Deposit

There will be absolutely no changes for the existing deposits as we are obliged to pay the contracted rate till its maturity as per the current rules.
The revised rates will apply only to fresh deposits and renewals made on or after the date from which the new rates are applicable.

Nomination is a process where the depositor assigns a person, known as the nominee, to whom the company must pay the deposit amount in the event of the depositor's death. A depositor can fill in nomination details when booking an FD.
 

The public fixed deposit schemes of NBFCs are subject to the directions issued by the Reserve Bank of India under Non-Banking Financial Companies Acceptance of Public Deposits (Reserve Bank) Directions, 2016.

Form 15G/15H is a self declaration form submitted by depositors to prevent Tax deducted at source (TDS) on interest income(or other incomes) if your total income is below the taxable limit. 
Form 15G is applicable for Resident Individuals below 60 years of age or Hindu Undivided families (HUFs).
Form 15H is applicable for Resident Individuals aged 60 years and above.
Form 15G/15H can be obtained from the company or downloaded from company's website.

To submit your 15G/H form for your current investment with Shriram Finance, please log in to our Customer Portal

If the estimated annual interest paid/credited or likely to be credited/paid on the deposit/s exceeds or is likely to exceed 50,000/- for a normal citizen or 1,00,000/- for a Senior citizen during the financial year (i.e. year 2025-26), it is obligatory on the part of the deductor of tax to deduct income tax at source. However, to avoid such deduction of Tax, the investors can furnish self-declaration in Form 15 G/H or by submitting the Exemption certificate from the respective Income Tax Authority for every financial year before beginning of that financial year.

For the tax deducted at source, Tax deduction certificates in the prescribed Form 16A giving details of the tax remitted to the Govt. etc. will be sent on quarterly basis if the deposit is under quarterly scheme, half-yearly basis for deposit under half yearly scheme and at the end of the year in case of Yearly scheme and cumulative deposits. If the customer opts for the monthly payout scheme, the certificate will sent on a quarterly basis.
TDS certificate in Form 16A are generated quarterly on the basis of details provided in the quarterly TDS statement filed by the deductor of Tax in TIN (Tax Information Network). For deduction of tax at source, TDS certificate in Form 16A will be generated by the company through TIN central system and which is downloaded from TIN website with a unique TDS certificate number and shall be authenticated by using the digital signature.

To obtain the TDS certificate for your current investment with Shriram Finance, please log in to our Customer Portal

In a cumulative FD, the interest amount is compounded over the deposit term and paid at maturity. Whereas, in a non-cumulative FD, the interest amount is payable on a monthly, quarterly, half-yearly, or yearly based on the interest frequency chosen. The point of differentiation between the two is the periodicity of interest payments.

Yes, Fixed Deposits from NRIs have been accepted with effect from April 1, 2021, for a maximum tenure of 36 months. The funds for such deposits must be a debit from  NRO accounts only.
 

The interest in a non-cumulative FD is credited as below:

• For Monthly Payout: On the last day of every month
• For Quarterly Payout: On the last day of March/June/September, and December
• For Half-Yearly Payout: On the last day of March and September
• For Yearly Payout: On the last day of March

The first interest will be paid on the last day of the following month on which the FD is processed. For example, if your FD was initiated on 20th March, assuming that you have opted for monthly interest, the same will be paid at the end of the following month, i.e. 30th April.

Interest will be compounded on Cumulative deposit from the effective date of deposit until the end of the calendar quarter. Interest for the subsequent calendar quarter/s would be computed on the accumulated balance [principal and interest (net of TDS, if any)] until the next calendar quarter or maturity date whichever is earlier.Interest is compounded at monthly rest for Cumulative deposit and Non-Cumulative deposit where interest pay-out is Monthly/Quarterly/Half-Yearly/Yearly. Interest [net of TDS, if any] will be credited to the deposit ledger on the last day of the calendar quarter.

If the Deposit is made / processed within a period of one month prior to the interest payout date , the interest for the part period will be paid on the next interest payout date without any deferral interest for the broken period."
 

Yes, a Trust /Company may invest in our deposits.
If the trust is not registered OR not willing to be registered in future, a letter duly signed by Authorized Signatories stating the Trust is not registered & not willing to be registered in future is required.
Please note Shriram Finance Limited is not registered U/S 11(5) of income tax act, hence Charitable Trust may invest in the FD of the Company at THEIR OWN RISK. Please also note that all Trust investments are not exempted under the Indian Income Tax Act, 1961. There are different types of Trusts. Private trusts shall be treated like any individual for accepting deposits in our Company.

Some Trusts get specific tax exemption/lower tax rate on investments applicable to our Company, so such specific exemption letter from the Income Tax Department is needed along with the investment.
However, Charitable Trusts are those which have to register themselves u/s -12AA of the Income tax Act 1961. The income of such trusts is completely exempt from income tax provided that they strictly comply with the provisions of Sections 11 to 13 of the Income tax Act. One of the conditions prescribed by the Act is in respect of the forms and modes of investing or depositing the funds as per Sec.11 (5).

Deposits and debentures of Shriram Finance Limited do not come under the various avenues of investment mentioned in Sec.11 (5). Any charitable trust which does not invest the funds in any form and mode mentioned in that Section will lose the exemption granted to them.

The interest on FD will be credited to your registered bank account based on the payout option opted by the you during investment.

In the unfortunate event of the death of a depositor, the company will reimburse the deposit irrespective of the lock-in period. The surviving depositor(s), nominee, or legal heir(s) can receive the deposit on behalf of the expired depositor upon request by providing proof of death and other necessary documentation. However, please note that preclosure norms may apply.

Shriram Finance offers auto-renewal and auto refund options. When booking a fixed deposit, the depositor can choose the auto-renewal or auto refund option. Here are the options to choose from at maturity:

• Renew only principal amount on the maturity date.
• Renew Principal with interest amount on the maturity date.
• Auto Refund the deposit at the maturity date.

If the depositor has not opted for any of the maturity options, then on maturity, the amount will be refunded to the first applicant's bank account registered with Shriram Finance.

We accept investments from Individuals, Company, Partnership Firms, Hindu Undivided Family (HUF), Trust and Foundations, incorporated Associations or Body of Individuals, NRI

Yes. You can make a deposit in the name of minor, provided such minor is represented by his natural or court appointed guardian and the application form for the deposit is signed by the natural/court appointed guardian, on behalf of the minor. All communication in relation to the deposit shall be addressed to the guardian.

You need to send valid Address proof along with Address/Contact Change Request Letter in prescribed format [Click here to download Address/Contact Change Request Letter] to FD processing centre. On the receipt of the details, the changes will be updated in our records within 7 working days.

To modify the correspondence address for your current investment with Shriram Finance, please log in to our Customer portal

In the event of loss of the Fixed Deposit Receipt, the Company should be immediately informed about the loss. The Company may issue a duplicate Fixed Deposit Receipt, subject to non-encashment of the original instrument, upon receipt from the depositor a letter of loss of instrument' and an Indemnity Bond in the prescribed format signed by all Deposit holders- [Click here to download Format of Indemnity] to its satisfaction and after compliance with such other formalities as may be required by the company.

To download the interest certificate for your current investment with Shriram Finance, please log in to our Customer portal.
 

No, funds cannot be added at any time of the tenure once your FD is booked. However, you can book a new FD with your additional funds.

With our FD calculator, you can calculate your returns in no time.
All you need to enter into the calculator are:

• Deposit Amount: The amount you wish to invest
• Interest Payout: The timeframe or tenure that you want to invest

When choosing the above two fundamentals, the FD calculator displays the interest rates applicable for cumulative and non-cumulative FD. Get hands-on with our easy-to-use online FD calculator and calculate your returns. <Click here to access the Shriram Fixed Deposit Calculator.>

Deposits may be made at the branch only in joint names of two/three person under "First or Survivor/s" (F or S) or "Anyone or Survivor" (A or S). All Communications will be addressed to First depositor. All Interest payments and repayment of deposits will be made in the name of First depositor.
 

Loan may be granted against Deposit up to 75% of the deposit amount. Loan will be given to any depositor who has live FD in our company which is more than 3 months old .The FDR will be marked with lien against the release of the loan. However, granting of loan will be at the sole discretion of the company. No loan will be granted against Minor & NRI Deposits. The Loan interest rate is two percent points above the interest rate payable on the deposit.
 

Yes, Shriram Finance offers attractive special interest rates for women on fixed deposits, further boosting returns.
 

The minimum tenure of a fixed deposit is 12 months and the maximum tenure is up to 60 months and 36 months for NRI.
 

No. Since there may be changes in the Income Tax Laws, the Form 15 G/H is required at the beginning of each financial year or at the time of deposit, wherever applicable.

The address printed on the TDS certificate will be the address registered with Income Tax Department at the time when you had made an application for PAN. If your current communication address is different from the address given for PAN card application then please change the address through NSDL or UTIITSL.

To update the correspondence address for your current investment with Shriram Finance, please log in to our Customer portal.

An Original or a Notarised death certificate, Term deposit Receipt duly discharged by claimant (TDR not required in case of E-Receipt),  Will or testamentary disposition, if any, or an attested copy of Legal Heirship Certificate issued by a Tahsildar / Municipal / Corporations along with the KYC documents.
 

Customer would need to submit the bank details in prescribed format [Click here to download Bank Details/Tax Status change Request Letter]. He also needs to submit a personalized cancelled cheque (with his name printed), if not personalized, then bank statement of the same account is needed. 

Yes, premature withdrawal of deposit receipts is allowed in urgent/emergent situations, but with specific rules according to the latest RBI Directions for NBFC public deposits. During the first three months (lock-in period) from the date of deposit or renewal, the following apply:

• Premature Repayment for Emergent Expenses
  Emergent Situations: If the depositor urgently needs funds due to critical illness, medical emergency, or natural calamities/disaster (as officially notified), premature repayment is permitted even within the three-month lock-in period.​
• Tiny Deposits: For small deposits (defined as tiny deposits), the full amount can be repaid to the investor before three months, but no interest is paid.​​
• Other Deposits: For deposits other than tiny deposits, up to 50% of the principal or ₹5 lakh (whichever is lower) can be repaid before three months, without interest. The remaining amount continues as per the contracted rate and usual withdrawal rules.​​
• Critical Illness: In cases classified as critical illness (as per the IRDAI Health Insurance Regulations), 100% of the principal amount may be repaid, without interest, before three months.​​
• Standard Repayment Rates (After 3 Months)
  Withdrawal after the initial three-month period is subject to early withdrawal penalties, based on the tenure completed:

The Company offers Auto Renewal & Auto Refund options. 
While applying for a Fixed deposit, depositor can opt for either Auto Renewal or Auto Refund.

Auto Renewal 
Under Auto Renewal the below 2 options are available

1) Renew Principal only on Maturity 
2) Renew Principal and Interest on Maturity 
Based on the option selected by the depositor, the deposit receipt will be renewed on the due date either for full amount or only principal.

Auto Refund 
If Auto Refund is opted, then the maturity proceeds will be credited to the depositors account on the date of maturity. Repayment of deposit falling due on a Sunday or a bank holiday or any day when the company's head office is not working due to holiday or otherwise will be made on the next working day.

To explore the benefits of renewing your current investment with Shriram Finance, please log in to our Customer portal

You can open a fixed deposit with the Company for a minimum tenure of 12 months to maximum tenure of 60 months and 36 months for NRI.
 

Declaration in the Form 15G can be made by an individual or a person (not being a company or firm). Hence, a company or Firm cannot submit declaration in the Form 15G or in the Form 15H. Form 15G is meant for Resident Individual who is below 60 years of age. 15H is meant for Senior Citizens i.e. Resident Individual who is of 60 years of age or more at the time of placing the deposit.

Form 15G:
Eligibility for 15G in case of Individuals:
The Individual should be less than 60 years of age at the time of furnishing the declaration. The total estimated income during the financial year 2025–26 should not exceed the basic exemption limit under the new tax regime, i.e., ₹4,00,000. If the total income exceeds or is likely to exceed ₹4,00,000, the individual is not eligible to submit Form 15G.

• Form 15G is invalid without PAN, the TDS % will be 20% if PAN not submitted

Eligibility for 15G in case of persons other than Individuals:
Form 15G can be submitted by a Hindu Undivided Family (HUF), Association of Persons (AOP), Body of Individuals (BOI), or Artificial Juridical Persons, provided they are residents and their total estimated income for the financial year 2025–26 does not exceed ₹4,00,000 under the new regime. Firms and companies are not eligible to submit Form 15G.

• Form 15G is invalid without PAN, the TDS % will be 20% if PAN not submitted

Eligibility for Form 15H (Eligible for Senior Citizens and Super Senior Citizens):
The individual should be above 60 years of age at the time of furnishing the declaration. The total income during the financial year (i.e. 2025-2026) including interest earned should be up to ₹12,00,000

• Form 15H is invalid without PAN, the TDS % will be 20% if PAN not submitted

If Estimated Total Income Earned is not mentioned in form 15H, then the TDS slab works basis the Interest Earned in Shriram and TDS @ 10% will be applied if interest in a FY crosses Rs.12,00,000

Form 15H is not required if total interest in a FY is less than Rs.1,00,000, and no tax will be deducted.

Under the new rules for FY 2025–26, the TDS threshold is ₹50,000 for non-senior citizens and ₹1,00,000 for senior citizens. Submission of PAN is mandatory; otherwise, TDS will be deducted at 20% irrespective of the declaration form.

To submit the 15G/H declaration for your current investment with Shriram Finance, please log in to our Customer Portal.

All deposits held in the same name and same PAN, will be clubbed together under one customer folio for the purpose of calculation of income tax.

As per the provisions of income tax, every person receiving any sum or income from which tax would be deducted should furnish his PAN to the person deducting the tax. Please note if PAN is not furnished then form 15G/H or any other Exemption Certificate submitted will be invalid and tax will be deducted at the higher rate as applicable.

In the absence of PAN, no credit of the tax deducted shall be available in Form 26AS on the NSDL website. Also if PAN is not submitted, no TDS certificate will be generated from TIN website for the tax deducted by the company.

Yes, a minor can open a fixed deposit in their name, provided their parent or court appointed guardian represents the minor. The application form for a fixed deposit should be signed by the parent/court appointed guardian on behalf of the child.

Please refer to our Terms and Conditions for the complete list of required documents.

Incase the maturity instruction is Auto Refund, the funds will be credited to Investor's bank account on the date of maturity. Incase of joint deposit, the first holder's bank account will be credited. Investor/s can change the maturity instruction from Auto Refund to Renewal of Principal amount or Renew Principal with interest amount  by submitting renewal instruction seven days prior to maturity date.
 

Under the Indian Income Tax Act, 1961, interest earned on fixed deposits is taxable. You may avoid the deduction in the following circumstances:

• By submitting form 15G if you are under 60 years.
• By submitting form 15H if you are over 60 years (senior citizen).

To obtain the TDS certificate for your existing investment with Shriram Finance, please log in to our Customer portal.

In a Non-Cumulative scheme the interest will be credited on the Last day of every month in case of Monthly, Last day of March/June/September and December in case of Quarterly, Last day of March and September in case of Half-Yearly and Last day of March in case of Yearly. If the Deposit is made / processed within a period of one month prior to the interest payout date, the interest for the part period will be paid on the next interest payout date without any deferral interest for the broken period. E.g. If the customer has initiated the FD on 20th March and has requested for a monthly interest, the same will be paid on the subsequent month end that is 30th April.
 

Premature payments will be made to the first depositor only.

Yes. The payment can be sent directly to the depositor's bank.

Disputes, if any, arising in connection with Shriram Finance Limited FDs, will be under the authority of the court.
 

Please refer to our Terms and Conditions for the complete list of required documents.

Deposits can be renewed if the customer informs the company and submits the renewal instructions, except for auto-renewal, at least 7 days prior to the date of maturity. In such cases, the rate prevailing on the maturity date will be applicable. Otherwise, the same will be renewed prospectively and in such cases interest ceases on maturity. Renewal of deposit will be for an amount net of TDS if any. In the case of A or S/s accounts, renewal retaining one of the depositor(s) as the first depositor are possible. However, renewals to the persons other than the second/third depositors in A or S/s accounts are not possible. Renewal of the deposit by a change in the first named depositor is not possible in the case of F or S/s accounts.​
 

No fees are associated with opening or maintaining a fixed deposit.

Yes, you can invest in Shriram Fixed Deposit online by logging on to the website - www.shriramfinance.in or through Shriram One app.

Please refer to our Terms and Conditions for the complete list of required documents.

It’s the term on which the deposit term ends
 

Deposit will be accepted in multiples of 1,000/- subject to a minimum amount of Rs.5,000/- for both Cumulative deposit and non-cumulative deposit.
 

We have Monthly/Quarterly/Half Yearly/Yearly and On-Maturity options for payment of interest. The interest is directly credited to the bank account via NEFT (National Electronic Fund Transfer)
 

Permanent Account Number or Form No. 60 as defined in Income-tax Rules, 1962 (Please refer point 9(b)).

Photograph needs to be submitted at the time of placing of fresh deposit/renewal, if not submitted earlier.

Copy of any OVD (Officially Valid Document) containing details of his identity and address

List of OVD documents:

• Passport
• Driving License
• Voter ID
• Job card issued by NREGA duly signed by an officer of the State Government
• Aadhaar Card.
• Letter issued by the National Population Register containing details of name and address.

Where the OVD mentioned above does not have updated address, the following additional documents can be submitted for the limited purpose of proof of address (The Depositor shall submit OVD with current address within a period of : 3 months from date of submission of deemed OVD.

• Pension payment orders
• Property or Municipal Tax receipt
• Letter of allotment of accommodation from employer issued by State or Central Government departments, statutory or regulatory bodies.
• Documents issued by Government departments of foreign jurisdictions and letter issued by Foreign Embassy or Mission in India.
• Latest Utility bill which is not more than two months old of any service provider (electricity, telephone, post-paid mobile phone, piped gas, water bill).

Shriram offers cumulative and non-cumulative fixed deposit plans

The documents required by NRIs for investing in Shriram Fixed Deposit as mentioned in our Terms and Conditions are:

• Recent Photograph
• PAN (Permanent Account Number) – Self Attested
• Signed personalized cancelled cheque leaf (If minor, cheque leaf should be of the minor)
• Date of Birth proof (if minor)
• Application form duly filled and signed (For minor, signed by guardian)
• Passport
• Valid Visa / Work / Residence permit / PIO / OCI Card
• Overseas / Indian Address proof
• Tax Residency Certificate (TRC) for the Income Tax Department of the country of residence
• Form 10F
• PE Certificate
• Declaration to avail Double Taxation Avoidance Agreement (DTAA) benefit if applicable

Additionally, the depositor must inform the company within 30 days in case of any update to the submitted documents previously.​

Shriram Finance Limited - offers flexible interest payout options—monthly, quarterly, half-yearly, annually, or on-maturity. 
You can select the schedule that best fits your financial needs when booking your fixed deposit

TDS certificate will be dispatched on:

• Last week of July
• Last week of October
• Last week of January
• Last week of May

To generate the TDS certificate for your current investment with Shriram Finance, please log in to our Customer portal.

Premature withdrawal of the fixed deposit is permitted solely at the discretion of the company.
To request premature withdrawal, either the original deposit receipt, duly discharged by all holders, or a written request signed by all deposit holders must be submitted. In case you need urgent funds, you may also consider Loan on Deposits.

FD is non-transferable.

Yes, Shriram Finance offers compelling special interest rates for senior citizens on fixed deposits, enhancing returns.
 

The interest earned on your FD will be directly credited to the bank account linked with your FD account.

Yes, premature withdrawal of deposit receipts is allowed in urgent/emergent situations, but with specific rules according to the latest RBI Directions for NBFC public deposits. During the first three months (lock-in period) from the date of deposit or renewal, the following apply:

• Premature Repayment for Emergent Expenses
  Emergent Situations: If the depositor urgently needs funds due to critical illness, medical emergency, or natural calamities/disaster (as officially notified), premature repayment is permitted even within the three-month lock-in period.​
• Tiny Deposits: For small deposits (defined as ""tiny deposits""), the full amount can be repaid to the investor before three months, but no interest is paid.​​
• Other Deposits: For deposits other than tiny deposits, up to 50% of the principal or ₹5 lakh (whichever is lower) can be repaid before three months, without interest. The remaining amount continues as per the contracted rate and usual withdrawal rules.​​
• Critical Illness: In cases classified as critical illness (as per the IRDAI Health Insurance Regulations), 100% of the principal amount may be repaid, without interest, before three months.​​

Standard Repayment Rates (After 3 Months)
Withdrawal after the initial three-month period is subject to early withdrawal penalties, based on the tenure completed:

3 to 6 months: No interest payable

6 to 12 months: 3% lower than the 12 months rate

12 to 18 months: 2% lower than 12 months rate

18 to 24 months: 2% lower than 12 months rate

24 to 30 months: 2% lower than 24 months rate

36 to 42 months: 2% lower than 36 months rate

50 to 60 months: 2% lower than 50 months rate

**The above rates are also applicable for premature repayments in the case of death of a depositor.
Premature repayments will be made only in favour of the first depositor.
Note: Depositors are requested to refer terms and condition of Deposit application form
 

Fixed Deposits from NRIs are accepted from 01-04-2021 for maximum period of 3 years.

Please refer to our Terms and Conditions for the complete list of required documents.

Please refer to our Terms and Conditions for the complete list of required documents.

Please refer to our Terms and Conditions for the complete list of required documents.

No