Eligibility for Fixed Investment Plan
Know your Fixed Investment Plan eligibility criteria
Note: This scheme is open to Resident Individual Depositors (Individual, Minor and Senior Citizen) only
Is there any lock-in period in FIP?
Yes, Fixed Investment Plan comes with a lock-in period of 12 months from the last instalment due date.
Do we need to pay FIP every month?
Yes, Fixed Investment Plan is a monthly savings plan with a maturity lock-in period of 12 months from the last instalment due date.
Which applicant is not eligible for the Fixed Investment Plan?
The Fixed Investment Plan is open to Resident Individual Depositors, such as Individuals, Minors, Senior Citizens. Those who do not fall into these categories are ineligible for the FIP.
What are the documents for FIP in Shriram Finance?
The documents required for opening an FIP are as follows: Investors are required to provide their Permanent Account Number (PAN) and any one of the documents mentioned below:
b) Driving License
c) Voter ID
d) Aadhaar Card
Can I deposit extra money in FIP?
No, the investment amount for Fixed Investment Plan is fixed at the time of investment and cannot be altered during the tenure of investment.
Is FIP deducted automatically?
Yes, monthly instalments for the Fixed Investment Plan (FIP) can be automatically deducted by enabling auto-debit option.
Can I open FIP in my salary account?
Yes, you can open a Fixed Investment Plan (FIP) with your salary account.
What are the rules for FIP account?
The rules for a Fixed Investment Plan (FIP) account typically include choosing an instalment duration, adhering to the specified tenure, understanding the maturity period, and following guidelines for premature withdrawal or post-maturity options.
What is the minimum age to open an FIP account?
There is no minimum age criteria to open an FIP account.
With regards to deposit taking activity of Shriram Finance Limited (’SFL’), Viewers may refer to detailed information and T&C provided in our application form available at https://www.shriramfinance.in/downloads
The Company is having a valid Certificate of Registration dated 31st January 2023 issued by the Bank under section 45-IA of the RBI Act. However, the Reserve Bank of India does not accept any responsibility or guarantee about the present position as to the financial soundness of the company or for the correctness of any of the statements or representations made or opinions expressed by the company and for repayment of deposits/discharge of the liabilities by the company.
Maximise savings with a Fixed Investment Plan