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Frequently Asked Questions on Fixed Investment Plan

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How much can I invest in a Fixed Investment Plan each month?

The minimum investment amount for Fixed Investment Plan is ₹1000 and it can be increased in the multiples of ₹500. Based on the financial goals and plans one can invest up to ₹1 Crore.

 What is the maximum investment in FIP?

Investors can invest up to ₹1 Crore in an FIP investment.

Which FIP is best for 5 years?

Investing in FIP for 5 years can help you earn higher returns on your savings ranging up to an interest rate of 9.20%* p.a. These 5 years would be inclusive of the maturity(lock-in) period of the investment.

How much should I invest in a Fixed Investment Plan (FIP)?

Fixed Investment Plan can be started with a minimum investment of ₹1000 which can thereby be increased in multiples of ₹500 ranging up to a maximum of ₹1 Crore.

What are the benefits of investing in a Fixed Investment Plan (FIP)?

Features and Benefits of Fixed Investment Plans are:

It is a high return investment with interest ranging up to 9.20%* p.a.

Provides assured returns, regardless of market fluctuations.

It has flexible investment instalment option made available for the depositors to choose from 12 to 48 Nos with the tenure of 23 to 59 months for the maturity.

Investors can invest as little as ₹1,000 per month.

Who is eligible to invest in a Fixed Investment Plan?

Resident Individuals, including minor and senior citizen depositors, are eligible to invest in the Fixed Investment Plan.

How does a Fixed Investment Plan (FIP) work?

A Fixed Investment Plan (FIP) provides the flexibility of a monthly savings plan along with the compounded yield of a fixed investment. You make monthly contributions for the chosen number of instalments. Ranging from 12 to 48 Nos with the tenure of 23 to 59 months for the maturity. For maturity, 12-month tenure will be added from the last instalment due date and same interest will be mapped and calculated till the maturity date

Can I invest in a Fixed Investment Plan (FIP) for my child?

Yes, Fixed Investment Plan is open to all Resident Individual Depositors in India which includes individuals, minors, senior citizens .

Can I withdraw my investment before the maturity date if the interest rate changes?

You can withdraw one or more instalments from your Fixed Investment Plan (FIP) as long as they have been active for more than 3 months since you made the last instalment payment. If an FIP instalment hasn't reached 3 months yet, you won't be able to make a premature withdrawal.

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:

a) Passport

b) Driving License

c) Voter ID

d) Aadhaar Card

Can I withdraw money from a Fixed Investment Plan (FIP) before maturity?

You can withdraw one or more instalments from your Fixed Investment Plan (FIP) as long as they have been active for more than 3 months since you made the last instalment payment. If an FIP instalment hasn't reached 3 months yet, you won't be able to make a premature withdrawal.

How is interest paid on FIP?

The interest earned in an FIP investment throughout the tenure is paid upon maturity along with the principal amount.

Can we withdraw FIP after 3 years?

Yes, FIP provides the flexibility of premature withdrawal. To maximise returns and completely benefit from your investment, it is suggested to continue your Fixed Investment Plan (FIP) until maturity.

What is the interest rate for FIP for 3 years?

Calculating the interest rate for a 3-year Fixed Investment Plan depends on various factors such as age, gender, investment amount, instalment preferred etc. Make use of our Fixed Investment Plan Online Calculator and calculate your returns with ease.

 What are the interest rates for FIP for 2 years?

Calculating the interest rate for a 2-year Fixed Investment

Plan depends on various factors such as age, gender, investment amount, instalment preferred etc. Make use of our Fixed Investment Plan Online Calculator and calculate your returns with ease.

Can the Fixed Investment Plan Interest Rate change after I've made the investment?

The Fixed Investment Plan Interest Rate remains fixed for the entire duration of the investment. There are no changes in the interest rate once the investment is made.

Are Fixed Investment Plan Interest Rates guaranteed?

Yes. Fixed Investment Plan (FIP) Interest Rates are secure and unchanging. FIP is a dependable investment choice, assuring steady and guaranteed returns with unwavering interest rates that offer investors a sense of stability over the investment term.

What are the benefits of a higher Fixed Investment Plan Interest Rate?

A higher Fixed Investment Plan Interest Rate offers increased returns on your investment, leading to greater earnings over the chosen instalment period. This results in accelerated growth and better financial outcomes.

How is the interest calculated on my Fixed Investment Plan?

The interest on your Fixed Investment Plan is calculated based on the chosen number of instalments and the applicable interest rate for that instalment range. For a hassle-free calculation, we recommend using our online calculator, for instant and accurate results for your convenience.

 Is the Fixed Investment Plan Interest Rate fixed throughout the investment period?

Interest rate is fixed for the entire period of FIP. Interest will be computed on each instalment amount from the respective payment date or date of remittance whichever is later, until March 31st.

How is the Fixed Investment Plan Interest Rate determined?

The Fixed Investment Plan Interest Rate is determined based on the number of instalments chosen for investment. The rate is linked to the specific range that corresponds to the number of instalments selected by the depositor.

What is a Fixed Investment Plan Interest Rate?

The Fixed Investment Plan interest rate is determined by the number of instalments chosen for investment, rather than the plan's duration. For example, if a depositor selects 13 instalments, the interest rate will align with the range specified for 12 to 48 instalments, not based on the plan's duration.

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.

Which is the best investment option - SIP or Fixed Investment Plan?

The decision between SIP (Systematic Investment Plan) and Fixed Investment Plan (FIP) depends on individual objectives and risk tolerance. SIP is a good fit for those seeking a gradual market approach, whereas FIP offers consistent returns, monthly instalment flexibility, and the advantage of compounded returns upon maturity.

How to invest in a Fixed Investment Plan online?

Investing in a Fixed Investment Plan online is a simple 4 step process:

Step 01: Enter using your mobile number

Step 02: Enter PAN details , Monthly Instalment Amount and choose your Number of Instalments

Step 03: Complete your payment and proceed to verify your KYC and bank details

Step 04: Receive the Fixed Investment Plan receipt and maximise your returns

Are there any risks associated with using Fixed Investment Plan calculators?

No, using Fixed Investment Plan Calculators typically does not have any risks. These calculators are designed for informational purposes, providing estimates and insights into potential returns on the investment based on the inputs provided.

How can I use the results from the calculator to plan my investments?

The results from the calculator can be used to make informed investment decisions by understanding potential returns, comparing investment options, and strategizing the best investment plan based on financial goals.

Are Fixed Investment Plan calculators freely available online?

Yes, investors can calculate the returns before making an investment in a Fixed Investment Plan Online with ease.

What are the key inputs required for using a Fixed Investment Plan calculator?

The key inputs required for using a Fixed Investment Plan Calculator are age, gender, investment amount and instalment period. Senior citizens and women depositors can avail special interest benefits while investing in a Fixed Investment Plan.

Can a Fixed Investment Plan calculator predict exact returns?

Yes, a Fixed Investment Plan Calculator can predict the exact returns based on the invested amount, tenure, and the plan's interest rate, providing accurate estimation of the returns.

What types of investments can be calculated using this tool?

Each investment has a specific calculator that is ideal for the calculation of the returns earned on that particular investment. Using an FIP calculator provides an accurate estimate of the returns on an FIP investment.

What is the purpose of using a Fixed Investment Plan calculator?

The purpose of using a Fixed Investment Plan Calculator is to estimate potential returns, plan investments, and determine the maturity amount. This helps investors in deciding on the principal amount and instalment period based on the expected returns as per their financial goals.

How does a Fixed Investment Plan calculator work?

The Fixed Investment Plan Calculator estimates your potential returns by considering your chosen investment amount, instalment period and fixed interest rate. It provides an online projection of the returns you may earn from your investment.

What is a Fixed Investment Plan calculator?

A Fixed Investment Plan Calculator is a financial tool that helps calculate potential returns, maturity sum, and investment growth based on investment amount, instalment period, and interest rate.

 Is a Fixed Investment Plan a good investment?

Fixed investment Plan is an ideal investment combining the convenience of a monthly savings plan with the compounded returns of a fixed investment.

How to close my Fixed Investment Plan (FIP) account?

To close your Fixed Investment Plan account, contact your financial institution or investment provider and follow their specific account closure procedure, which may involve filling out a closure request form and providing necessary documentation.

 How to track my Fixed Investment Plan (FIP) performance?

Investors can track their Fixed Investment Plan details by logging in to the "Customer Portal" and they can download their investment statement.

Which Fixed Investment Plan (FIP) is best for me?

Investors can choose from the flexible instalment period based on their financial goals and personalise their Fixed Investment Plan according to their needs.

How can I calculate the returns on my Fixed Investment Plan (FIP)?

Calculating your Fixed Investment Plan returns Online is a simple and instantaneous process. All you have to do is provide details such as investment amount, select the instalment period preferred and calculate your returns within seconds.

How can I start a Fixed Investment Plan (FIP)?

Investing in a Fixed Investment Plan Online is a quick and easy 4 step process. Alternatively, one can also visit the nearest Shriram Finance branch to open an FIP offline.

What are the risks of investing in a Fixed Investment Plan (FIP)?

Choosing a Fixed Investment Plan (FIP) is a low-risk investment decision. With its guaranteed and steady returns for the selected duration, FIP becomes an attractive choice for investors who prefer safety in their investments.

Disclaimer

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