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The Shriram Group had its humble begining over three decades ago The group today manages assets of over INR 76,000 crores (including Non-Financial services).

Rating - CRISIL FAAA, ICRA MAA+

Interest Rate (Normal Scheme) for Individuals / Others
Period (months) Cumulative (p.a. at Monthly rests) Non Cumulative (p.a.)
Monthly Quarterly Half-Yearly Yearly
12 7.50% 7.25% 7.30% 7.37% 7.50%
24 7.70% 7.44% 7.49% 7.56% 7.70%
36 8.15% 7.86% 7.92% 8.00% 8.15%
48 8.20% 7.90% 7.96% 8.04% 8.20%
60 8.40% 8.09% 8.15% 8.23% 8.40%
# Deposit will be accepted in multiples of ₹ 1,000/- subject to a minimum amount of ₹ 5000/- per deposit for cumulative deposits and ₹ 10,000/- per deposit for non-cumulative deposits. Cumulative deposits can be renewed for maturity value.

The Documents required are as follows:

  1. Duly Filled Application Form
  2. Cheque in favour of ‘Shriram Transport Finance Company Limited’ and crossed ‘Account Payee only’
  3. All documents should be self-attested

Individual

  1. Passport size photograph
  2. Proof of Identity (POI): Passport, PAN Card, Voter ID Card, Driving License, Aadhaar Card, Ration Card, Job Card issued by NREGA
  3. Proof of Address (POA): Passport, Driving License, Voter ID Card, Aadhaar Card , Accommodation letter from employer ,Documents by foreign authorities ,property/municipal tax receipt , Latest Utility Bill [electricity, telephone, postpaid bill, piped gas, water bill (none of these should be more than two months old)], Latest Bank Account Statement, Job Card issued by NREGA
* Senior Citizen: Proof of Age duly attested viz-Ration Card, Voter ID Card, Passport, PAN Card, Birth Certificate, LIC Policy etc. Senior Citizen has to be 60 or above

HUF

  1. HUF PAN card
  2. HUF Declaration
  3. Proof of Identity and Address ( As per KYC documents mentioned for Individual) of the Karta

Partnership

  1. Registration certificate
  2. Partnership deed
  3. Authorised signatory List
  4. Proof of identity and address(as per KYC documents mentioned for individuals) of the authorised signatories

Proprietor

  1. ID & Address proof of the proprietor
  2. PAN card of proprietor
  3. Address Proof
  4. Photograph
  5. If the sole proprietorship is in different name, the bank statement, OR registration certificate OR telephone bill
  6. Cancelled cheque leaf for Bank account verification

Company

  1. Certificate of incorporation
  2. Memorandum and Articles of Association
  3. A resolution from the Board of Directors and power of attorney granted to its Managers, Officers or employees to transact on its behalf
  4. PAN copy of the company
  5. List, signature and Proof of identity and address (as per KYC documents mentioned for individuals) of the authorised signatory of the company signing the application

Trust

  1. Registration certificate
  2. Trust deed
  3. Proof of identity and address (as per KYC mentioned for individuals) of the authorised signatory of the trust / institution signing the application

NRI

They do not offer fixed deposits under NRI category

The company reserves the right to allow, at its absolute discretion, withdrawal of deposit before maturity. Where a deposit is so allowed to be prematurely withdrawn the relative deposit receipt must be discharged by all the depositors in case of A or S/s deposit and by the first named depositor in case of F or S/s deposit.

In the event of death of a depositor, the Company shall repay the deposit prematurely, even within the lock-in period

Period (Months) Interest Payable
Up to 3 months from the date of deposit / renewal (Lock-in-period) No repayment (Not applicable in case of premature repayment in the event of death of the depositor**)
After 3 months but before 6 months No interest
After 6 months but before the date of maturity The Interest payable shall be 2 per cent lower than the Interest rate applicable to a deposit for the period for which the deposit has run or if no rate has been specified for that period, then 3 per cent lower than the minimum rate at which deposits are accepted by the Company*

The Company may grant at its sole discretion, loan up to 75% of the amount of deposit to the depositor after the expiry of three months from the date of deposit at rate of interest two percent points above the interest rate payable on the deposit. The relative term deposit receipt(s) and other documents have to be signed by both/all the depositors in case of A or S/s accounts and by the first depositor in case of F or S/s accounts, Cheque for loans will be drawn only in favor of the first depositor.

In case any investor intends to make a public deposit for more than ₹ 5 crore, he has to get the rate of interest and brokerage rate, if applicable, confirmed from the Company in writing before depositing the cheque.

In case any investor makes multiple deposits having denomination of less than or equal to five crore, but aggregate deposit amount(all the deposits placed together by the same investor) in 1 Month, irrespective of the location of the deposit, exceeds rupees five crore amount, then it is considered as bulk deposit of more than five crore and the Company will apply the rate of interest on deposit and brokerage rate as they are applicable to bulk deposit on the day on which the aggregate amount of deposits exceeds five crore. If there is a gap of 1 Month between two deposits having denomination of less than five crore, then such deposits will be treated as independent deposits and they will not be considered together.