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.

Form 15G / 15H is a self-declaration form submitted by depositors to prevent Tax Deducted at Source (TDS) if income is below the taxable limit.

• Form 15G: Resident Individuals below 60 years or HUFs
• Form 15H: Resident Individuals aged 60 years and above

Forms can be obtained from the company or downloaded from the website.

To submit your 15G/H, log in to the Customer Portal.

Cumulative FD: Interest is compounded and paid at maturity

Non-cumulative FD: Interest is paid monthly, quarterly, half-yearly or yearly

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.

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.

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.

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.>

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.

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

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.

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.

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 15Hif 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.

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).

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.

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