People often underestimate this step. Opening a fixed deposit — particularly with an NBFC like Shriram Finance — feels like a matter of transferring funds and picking a tenure. The documentation part, though, determines whether your application processes smoothly in one sitting or bounces back for missing paperwork.
The good news is that the KYC for fixed deposit at regulated NBFCs follows the same framework as banks — identity proof, address proof, PAN, and a few entity-specific documents depending on who's investing. If you've done KYC with any financial institution before, much of this will be familiar. But the specifics matter and having them right the first time saves you a second trip — or a second upload.
This article covers the full list of FD account opening documents in India for individual and non-individual investors, what changes when you apply online, and a practical note on CKYC that most investors haven't heard of.
FD Eligibility in India — Who Can Invest
Before documents, we need to look at the eligibility. The FD eligibility criteria in Indiabroadly include:
- Resident individuals aged 18 years and above (online and offline)
- Minors, under guardianship (offline, with guardian's KYC)
- Non-Resident Indians (NRIs), through NRO accounts — offline only with Shriram Finance, for a maximum tenure of 3 years
- Non-individual entities, including sole proprietorships, partnership firms, LLPs, companies, Hindu Undivided Families (HUFs), trusts, and foundations — typically offline
Each category has its own document set. The individual investor category is the most streamlined, particularly for online applications.
KYC for Fixed Deposit — Why It's Mandatory
KYC, or Know Your Customer is not optional. It's a regulatory requirement under the Prevention of Money Laundering Act and RBI guidelines, applicable to all deposit-taking institutions including banks and regulated NBFCs. Financial institutions are required to adhere to KYC norms set by the RBI for combating fraud and money laundering.
For an NBFC FD, KYC serves the same purpose as at a bank: the institution verifies that you are who you say you are, your address is confirmed, and your financial identity is documented before your funds are accepted. It protects you as much as it protects the institution.
If you've already completed KYC with Shriram Finance for an earlier deposit or service, you may not need to repeat the full process for a new FD. Your existing profile is on record. For first-time investors, expect to provide the documents listed below.
PAN and Aadhaar for FD — The Two Documents That Matter Most
Of all the FD account opening documents in India, two carry the most weight.
PAN card — Mandatory for all online FD transactions with Shriram Finance. It links your financial activity to your tax profile, which is why no regulated institution will process a fixed deposit without it for transactions above a specified threshold. If you don't have a PAN, Form 60 may be accepted as an alternative for smaller deposit amounts, subject to the institution's policy.
Aadhaar card — The primary identity and address proof document for the online KYC process. PAN and Aadhaar are the two most important identity and address proof documents for fixed deposits in India. For Shriram Unnati FD's digital application, Aadhaar-based authentication is required. Your Aadhaar must be linked to an active mobile number to receive the OTP. And you will be asked to capture a live photograph for identity verification (liveliness check) against your Aadhaar records.
Keep both documents current and consistent. Name spelling, date of birth, or address mismatches between PAN and Aadhaar are the most common reasons for KYC delays.
Documents Required for FD — Full Breakdown by Investor Type
Resident Individuals (Online and Offline)
The typical documents required for FD for a resident individual investor are:
- PAN card — mandatory
- Aadhaar card — for identity and address proof
- FATCA declaration — required for online applications
- Bank account details — for interest payouts and maturity credits
- A recent passport-size photograph
If your Aadhaar-linked address doesn't match your current address on the application form, you'll need a deemed OVD (Officially Valid Document) for address proof — such as a recent utility bill (not older than two months), property tax receipt, or a pension payment order. This is valid for 3 months, after which an updated OVD with the current address must be submitted.
Sole Proprietorships (Offline)
In addition to the proprietor's individual KYC documents, you'll need any two documents proving business activity — this could be a GST certificate, Udyam Registration Certificate (URC), or a utility bill in the name of the business. A duly filled and signed FD application form with the proprietor's seal is also required.
Partnership Firms (Offline)
Required documents include the partnership deed, a registration certificate (not mandatory but preferred), a list of all partners with their authority to operate the account, and identity and address proof for authorised signatories. A cancelled cheque in the firm's name is also needed.
Companies — Public and Private (Offline)
For a company investing in a fixed deposit, the institution requires the Certificate of Incorporation, Memorandum and Articles of Association (MOA and AOA), a board resolution naming authorised signatories, a list of directors with their DIN numbers, and a Beneficial Ownership declaration.
HUFs, Trusts, LLPs (Offline)
Each of these entity types has specific documentary requirements — Karta details and declaration for HUFs; trust deed and certificate of registration for trusts; LLP agreement and list of designated partners for LLPs. In all cases, identity and address proof for authorised signatories and a signed FD application form are standard requirements.
Also read: Everything You Need to Know About Fixed Deposits in India
Online FD Requirements — What's Different When You Apply Digitally
The online FD requirements are usually simpler than the offline route. For resident Indian individuals applying digitally, the complete process generally requires:
- PAN card
- Aadhaar card (with active linked mobile number)
- FATCA declaration
- Bank account details (for payment and future payouts)
KYC is usually completed via Video KYC or a liveliness check, as stated before. No physical submission, no branch visit. The FD certificate is issued digitally upon completion.
With Shriram Finance, this digital route is available for resident individuals only.
Please note that NRIs, entities, and certain other investor categories must apply through the offline channel at a Shriram Finance branch.
Ready to begin? Start your Shriram Unnati FD application here
A Note on CKYC
Central KYC (CKYC) is a unified system maintained by CERSAI — a government registry — that stores your verified KYC details centrally. Once completed, your CKYC number allows financial institutions across banks, NBFCs, mutual funds, and insurers to access your verified records without requiring repeated document submission.
If you've completed CKYC previously and your number is in the registry, and your address in those records matches what you're submitting on your FD application, you may not need to resubmit address proof documents. This significantly speeds up onboarding — particularly useful if you're investing across multiple institutions.
Ask Shriram Finance at the time of application whether your existing CKYC record applies to your new deposit.
Finally
Getting your documents right before you apply isn't an administrative box-tick. It's what determines whether your FD is booked quickly or sits in processing limbo waiting for a missing document or a mismatched detail.
For individual investors, Shriram Unnati Fixed Deposit requires a PAN card, Aadhaar, FATCA declaration, and bank details — all standard documents most investors already have. The entire process is online and can be completed quickly.
Shriram FD offers rates up to {{FD}} (inclusive of {{FD_Senior}} for senior citizens and {{FD_Women}} for women depositors).
Ready to begin your FD journey? Open your Shriram Unnati Fixed Deposit today.
FAQs
1. Can I open a Shriram Finance FD without a PAN card?
PAN is mandatory for all online fixed deposit transactions at Shriram Finance. The requirement for offline processes may vary. Confirm with Shriram Finance at the time of booking your FD.
2. Does Aadhaar alone work as both identity and address proof for an NBFC FD?
Yes, in most cases. Aadhaar functions as an Officially Valid Document (OVD) for both identity and address purposes. For the Shriram Finance online application, Aadhaar-based liveliness check is the primary verification method. The one condition: the mobile number linked to your Aadhaar must be active for OTP-based verification to complete.
3. If I already have an FD with Shriram Finance, do I need to redo KYC for a new deposit?
If your KYC is already on record and your details haven't changed, you typically don't need to repeat the full process. This is one of the practical advantages of maintaining an existing relationship with a regulated NBFC — subsequent deposits move faster. If your details have changed (address, contact information), update your KYC before applying for the new FD to avoid discrepancies. But confirm with Shriram Finance, before booking a new deposit.
4. What documents are usually required for an online FD?
To open an FD online, you typically need your PAN card, Aadhaar card, and bank account details for KYC verification. Some institutions may also require a photograph and a quick video KYC or liveliness check to complete the process.
5. Why do NBFCs follow the same KYC norms as banks?
Because they're bound by the same regulatory framework. Regulated deposit-taking NBFCs like Shriram Finance operate under RBI's Master Directions on NBFC Acceptance of Public Deposits, which mandates KYC compliance aligned with the Prevention of Money Laundering Act. The FD account opening documents you submit to Shriram Finance go through the same verification rigour as a bank.