Earn up to 7.65%* p.a. with FIP
Fixed Investment Plan Eligibility
Shriram Fixed Investment Plan (FIP) offers a reliable way to grow your savings with the stability of fixed returns and the convenience of a monthly savings plan. With minimal investment requirements, Shriram Finance makes it accessible for a wide range of investors, whether you're an individual, a minor, or a senior citizen. With our tailored investment options, you're sure to find a plan to suit your needs. To start investing in Shriram FIP, understanding the eligibility criteria and required documentation is crucial.
Fixed Investment Plan Key Facts
High Returns: Earn up to 7.65% p.a.*
Flexible Instalments: Choose from instalment options ranging from 12 to 48 months.
Low Investment: Start with as little as ₹1,000 per month.
Credibility: Benefit from a higher credit rating of "[ICRA]AA+ (Stable)" by ICRA and Rated "IND AA+/Stable" by India Ratings and Research.
Calculator: Use a Fixed Investment Plan Eligibility Calculator to estimate your potential returns.
Fixed Investment Plan Eligibility and Documents Required
The FIP from Shriram Finance is open to the following individuals:
To start investing in Shriram Fixed Investment Plan online, certain documents are required for verification and processing. You must furnish your Aadhaar from:
Eligibility Criteria
Resident Individual Depositors:
- Individuals
- Minors
- Senior Citizens
Required Documents
- DigiLocker
Fixed Investment Plan Documents Required for Existing and New Customers
Whether you are an existing or new customer, providing the necessary documents ensures a smooth and compliant investment process. For existing customers, some information may already be on file, streamlining the process. New customers will need to provide a complete set of documents to fulfil the eligibility criteria for Fixed Investment Plan and comply with regulatory requirements.
For New Customers
New customers will need to provide a complete set of documents to fulfil the eligibility criteria for Fixed Investment Plan and comply with regulatory requirements.
Identity Proof:Aadhaar card (Verified or fetched through DigiLocker.
Bank Account Details: Provide your bank account details, including the account number and IFSC code, to facilitate transactions and interest payouts.
For Existing Customers
Existing customers may have some information already on file, streamlining the process. However, you may still need to provide:
Aadhaar:Verified or fetched through DigiLocker/EKYC or CKYC PoA
Bank Account Details: Will be fetched from previous fixed deposit. If not, provide your bank account details, including the account number and IFSC code, to facilitate transactions and interest payouts.
Who is Eligible to Invest with Us
Fixed Investment Plan Eligibility is open to resident individuals, including minors and senior citizens.
Resident Individuals: Any Indian resident can invest in this plan.
Minors: Investments can be made on behalf of minors, with a guardian managing the account.
Senior Citizens: Senior citizens can invest in FIP, making this a beneficial investment option.
Fixed Investment Plan Eligibility FAQs
What is the Fixed Investment Plan age limit?
There is no minimum or maximum age to apply for Fixed Investment Plan.
What is the documentation required to open Fixed Investment Plan in Shriram Finance?
To open an FIP account, you must submit your PAN card and one of the following identity proofs like Aadhaar card.
What are the rules for FIP account?
A Fixed Investment Plan (FIP) account is subject to specific terms and conditions, including investment tenure, instalment frequency, maturity provisions, and guidelines for premature withdrawal or post-maturity options.
What is the eligibility for Fixed Investment Plan?
The Fixed Investment Plan is available to resident individual depositors, encompassing individuals, minors, and senior citizens. Other entities are ineligible for this investment scheme.
Can I open FIP in my salary account?
Yes, you can use your salary account to open an FIP.
What is the rule of Fixed Investment Plan?
A Fixed Investment Plan (FIP) account is subject to specific terms and conditions, including investment tenure, instalment frequency, maturity provisions, and guidelines for premature withdrawal or post-maturity options.
Do we need to pay FIP every month?
Yes, the Fixed Investment Plan is a monthly savings product with a mandatory lock-in period of 12 months from the date of the final instalment.
Is FIP deducted automatically?
Yes, you may opt for automatic deductions of monthly instalments for your Fixed Investment Plan through the auto-debit facility.
Can I deposit extra money in FIP?
No, the investment amount for a Fixed Investment Plan is fixed at the inception of the plan and cannot be modified during the investment term.
How do I avoid tax on FIP?
Tax benefits on FIP investments are subject to applicable tax laws and the specific scheme. It is advisable to consult a tax expert for personalised advice on tax implications.
Is there any lock in period in FIP?
Yes, the Fixed Investment Plan has a lock-in period of 12 months commencing from the date of the final instalment.
Maximise savings with a Fixed Investment Plan
- Home
- Investments
- Fixed Investment Plan
- Eligibility
