Invest In Your Future with Shriram FD
Fixed Deposit for Women
Whether working professionals or homemakers, it is important for women to have financial stability. And when financial stability is the centre of the discussion, very few investment avenues come close to fixed deposits (FDs) for women. Shriram Finance recognises the unique financial needs of women and offers incentives to encourage savings and steady income. With an additional interest rate of 0.05%* p.a., multiple payout options and flexible tenures, an FD tailored for women from Shriram Finance helps empower women with a reliable and low-risk investment option.
The capital invested remains locked in, and the interest accrued over time helps in wealth accumulation which can be used for various purposes like education, emergency funds, retirement, wedding, etc.
Interest Rates for FDs for Women
Here are the FD interest rates for women, inclusive of an additional 0.05%* p.a.
| Non-Cumulative Deposits | Cumulative Deposits | ||||
|---|---|---|---|---|---|
| Period (months) | Monthly % p.a | Quarterly % p.a | Half yearly % p.a | Yearly % p.a. | Yearly % p.a. |
| 12 | 6.83 | 6.87 | 6.93 | 7.05 | 7.05 |
| 15 | 7.07 | 7.11 | 7.17 | 7.30 | 7.30 |
| 18 - 23 | 6.97 | 7.01 | 7.07 | 7.20 | 7.20 |
| 24 - 35 | 7.07 | 7.11 | 7.17 | 7.30 | 7.30 |
| 36 - 60 | 7.39 | 7.44 | 7.51 | 7.65 | 7.65 |
Benefits of Fixed Deposit for Women
Take a look at the benefits of fixed deposits for women to understand how it could be a wise investment option:
Stability of Capital
FDs are one of the more stable options you have in the market for investments. They are not subject to market volatilities as the principal remains locked in, and you earn predictable interest over the tenure.
Reliable Returns
Unlike other investment tools, like stocks and mutual funds, FDs offer predictable returns, ensuring women to plan their finances effectively. With Shriram FD, you get one of the highest FD interest rates in the market of up to 8.15%* p.a. (inclusive of 0.50%* p.a. for senior citizens and 0.05%* p.a. for women depositors).
Flexible Tenure
With tenure options ranging from 12 to 60 months, women can choose an option that aligns with their financial goals.
Higher Interest Rate
Women depositors may receive additional interest rate. For instance, Shriram Finance offers an additional interest rate of 0.05%* p.a., adding to the appeal of FDs as a profitable investment option. You can also try out our FD calculator to easily find out how much returns you will earn.
Regular Income
Women depositors can opt for the monthly, quarterly, half-yearly or yearly payout option, which can act as a supplementary income source.
Eligibility Criteria for FDs for Women
The eligibility criteria for FDs for women from Shriram Finance are as follows:
Eligibility Criteria
- 18 years and above
- Minors can invest through their parents or court appointed guardian
Age
- Indian resident
- Non-Resident Indians (NRIs), whose source of funds is exclusively from an NRO account, can be booked under the offline mode
Citizenship
Documents Required for FDs for Women Depositors
Keep these documents handy to open an FD for women depositors with Shriram Finance:
Required Documents
Proof of Age- PAN Card, Passport, Driving Licence
Identity Proof- Aadhaar Card, Voter ID, Passport, Driving Licence
Address Proof- Aadhaar Card, Voter ID, Passport, Driving Licence
Bank Account Details- Copy of the passbook or personalised cancelled cheque
Photographs- Recent passport-size photos
It is important to note that Shriram Finance may ask for additional documents at the time of booking an FD.
How to Invest in an FD for Women Depositors
Investing in an FD for women on the Shriram Finance website or the Shriram One app is simple and hassle-free. Here are the steps that you must follow to book your FD:
- Step 1Register using your mobile number, pin code, and residency status. Click 'Invest Now'.
- Step 2Choose your desired deposit amount and select your tenure and payout option based on your preferences.
- Step 3Enter your PAN and Aadhaar details, verify via OTP and complete KYC with a quick selfie.
- Step 4Provide occupation details and add your bank details for maturity credit, nominee information and set the maturity instructions.
- Step 5Complete declarations and make payment via net banking, UPI or debit card.
- Step 6Receive instant confirmation via SMS/email and get your digital FD certificate within 7 working days.
How to Withdraw Your Matured Amount from a Fixed Deposit for Women
Withdrawing the matured amount from an FD for women is simple and straightforward.
- While booking your FD, you will be asked to choose how you want your FD handled at maturity.
- You can either opt to receive the matured amount directly into your linked bank account or select auto-renewal to reinvest the amount for another term.
- To receive your matured FD amount automatically to your linked bank account, choose the option "Refund on Maturity."
- This ensures a smooth and automatic transfer of the funds on the due date.
- Please note that if you wish to withdraw your FD investment early, a penalty fee is applicable. Also, there is a lock-in period of 3 months before you can withdraw your FD prematurely.
- Try to keep your FD investment locked-in to maximise your returns on maturity.
FAQs
Can women of all age groups apply for FD schemes for women?
Yes, women of all ages can generally apply for FD schemes tailored for them.
Are there any specific documents required to open an FD for women?
Some of the most commonly required documents are identity, age and address proof. A personalized cancelled cheque of your bank account and recent passport-size photos are also often needed.
What is the minimum and maximum tenure available for FD for women?
FDs for women at Shriram Finance have a tenure of 12 to 60 months.
Are there any penalties for premature withdrawal of funds from FDs for women?
Yes, normally there is a penalty associated with premature withdrawal of funds from FD for women. Reach out to Shriram Finance for specific details about early withdrawals.
How can women calculate the interest earned on their fixed deposits?
Women depositors can head over to Shriram Finance’s website and navigate to the section “FD Calculator” to easily calculate the interest earned on their fixed deposit investment.
How can women monitor the maturity dates and renewal options for their fixed deposits?
Women depositors can check their FD account for their maturity dates and renewal options through Shriram Finance’s official website or the Shriram One app.
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.
