1. Is there any fee to open a Fixed Deposit?

No fees are associated with opening and maintaining a fixed deposit.

2. What is the mode of interest payments?

The interest earned on your fixed deposit will be directly credited to the bank account linked
with your FD.

3. What are the documents required for unincorporated Association on Body of individuals?

 Resolution of the managing body of such Association or Body of individuals.

 Power of attorney granted to him to transact on its behalf.
 Permanent Account Number
 Proof of identity and address (as per KYC documents mentioned for individuals) of the
person who is holding the power of attorney to transact the business on behalf of the
Unincorporated association or Body of Individuals.
 Such information as may be required to collectively establish the legal existence of such an
association or Body of Individuals.
4. What are the documents required for Juridical persons (societies, universities and local bodies
like village panchayats)?

 Document showing the name of the person authorized to act on behalf of the entity;
 Proof of identity and address (as per KYC documents mentioned for individuals) of the
person who is holding the power of attorney to transact on its behalf and.
 Permanent Account Number
 Such information as may be required to collectively establish the legal existence of such
an entity / juridical person.

5. What is Form 15G and Form 15H and where do I get it from?

Form 15G / 15H is a self-declaration by the depositor which can be obtained from the company
or to download [15G (For Depositors below 60 years of age). / 15H (For Depositors whose age is
60 years and above). It is a self-declaration which needs no attestation by anybody except in the
case of Left Hand Thumb impression which needs to be attested by a Gazetted Officer / Bank
Official. It should be furnished in Duplicate

6. Is it not enough to furnish the Form only once at the time of placing the deposit?

No. Since there may be changes in the Income Tax Laws, the Form 15G / H is required at the
beginning of each financial year or at the time of deposit, wherever applicable.
7. If legal disputes arise, what is the resolution mechanism?

Disputes, if any, arising in connection with Shriram Finance Limited FDs, will be subject to
jurisdiction of Court at city of Chennai.

8. Will you allow loan on deposit? What is the rate of interest chargeable for loans?

Loan may be granted against Deposit up to 75% of the deposit amount. Loan will be given to any
depositor who has live FD in our company which is more than 3 months old. The FDR will be
marked with lien against the release of the loan. However, granting of loan will be at the sole
discretion of the company. No loan will be granted against Minor. The Loan interest rate is two
percent points above the interest rate payable on the deposit

9. How do I change my correspondence address?

You need to send valid Address proof along with Address / Contact Change request letter in
prescribed format [Click here to download Address / Contact Change Request Letter] to FD
processing center. On the receipt of the details, the changes will be updated in our records
within 7 working days.

10. Can I apply online?

Yes, you can invest online by logging on to https://www.shriramfinance.in/fixed-deposit

11. What happens at maturity?

Shriram Finance offers auto-renewal and auto refund options. When booking a fixed deposit,
the depositor can choose the auto-renewal or auto refund option.

If the depositor has not opted for either, here are the options to choose from at maturity.

• Renew your principal amount on the maturity date

• Renew your interest amount on the maturity date
• Close your fixed deposit at the maturity date

12. What will be the address printed on the TDS Certificates?

The address printed on the TDS certificate will be the address registered with Income Tax
Department at the time when you had made an application for PAN. If your current
communication address is different from the address given for PAN card application, then please
change the address through NSDL or UTIITSL

13. What are the payout intervals available with Shriram?

Shriram provides monthly, quarterly, half-yearly, and annual interest payout options. You can
choose the payout option that suits you best when booking your FD
14. Are there any special rates for women depositors?

Yes, Shriram offers special interest rates for women at an additional 0.10% p.a.* on fixed
deposits

15. When will the interest be credited in Non-Cumulative scheme?

In a Non-Cumulative scheme, the interest will be credited on the Last day of every month in case
of Monthly, Last day of March/June/September and December in case of Quarterly, Last day of
March and September in case of Half-Yearly and Last day of March in case of Yearly. The first
interest will be paid on the last day of the subsequent month in which the FD is processed E.g. If
the customer has initiated the FD on 20th March and has requested for a monthly interest, the
same will be paid on the subsequent month end that is 30th April.

16. Under what regulations, the fixed deposits accepted by NBFCs are governed?

The public fixed deposit schemes of NBFCs are subject to the directions issued by the Reserve
Bank of India under Non-Banking Financial Companies Acceptance of Public Deposits (Reserve
Bank) Directions, 2016

17. Can a deposit be made in the name of minor alone?

Yes. You can make a deposit in the name of minor, provided such minor is represented by his
natural or legal guardian and the Application Form for the deposit is signed by the natural/Legal
Guardian, on behalf of the minor. All communication in relation to the deposit shall be
addressed to the guardian.

18. Is FD transferable?

FD is non-transferable

19. Is there an auto renew / auto refund option and how can it be done?

The Company offers Auto Renewal & Auto Refund options. While applying for a Fixed deposit,
depositor can opt for either Auto Renewal or Auto Refund.

Auto Renewal

o Under Auto Renewal the below 2 options are available

o Renew Principal only on Maturity
o Renew Principal and Interest on Maturity
o Based on the option selected by the depositor, the deposit receipt will be
renewed on the due date either for full amount or only principal.
 Auto Refund

o If Auto Refund is opted, then the maturity proceeds will be credited to the
depositors account on the date of maturity. Repayment of deposit falling due on a
Sunday or a bank holiday or any day when the company's head office is not working
due to holiday or otherwise will be made on the next working day.

20. Can an NRI book a Fixed Deposit?

Yes. Fixed deposits from NRIs are accepted from 01-04-2021 for three years

21. What are the documents required for Company?

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

22. What happens in the event of the death of a depositor?

In unfortunate events, such as the death of a depositor, the company will reimburse the deposit
irrespective of the lock-in period. The surviving depositor(s), nominee, or legal heir(s) can
receive the deposit on behalf of the expired depositor upon request by providing proof of death
and other necessary documentation.

23. When is Income Tax deducted at source from interest?

If the estimated annual interest paid/credited or likely to be credited/paid on the deposit/s

exceeds or is likely to exceed 5,000 /- during the financial year (i.e. year 2022-23), it is obligatory
on the part of the deductor of tax to deduct income tax at source. However, to avoid such
deduction of Tax, the investors can furnish self-declaration in Form 156/H or by submitting the
Exemption certificate from the respective Income Tax Authority for every financial year before
beginning of that financial year

24. What is the minimum and maximum investment tenure in an FD with Shriram?

While the minimum tenure of a fixed deposit is 12 months, the maximum tenure is up to 60
months.

25. Are there any special rates for senior citizens?

Yes, Shriram offers special interest rates for senior citizens at an additional 0.50% p.a.* on fixed
deposits
26. What is a maturity date?

A maturity date is when all funds due are paid into your nominated account

27. What is the process of taking premature withdrawal?

The premature withdrawal of any FD is allowed at the sole discretion of the company. For
seeking prematurity withdrawal original deposit receipt duly discharged on 1/- revenue stamp
along with a request letter for prematurity withdrawal and a cancelled cheque leaf should be
submitted.

28. If the sole depositor dies, what are the documents required?

An attested copy of Death certificate, Term Deposit Receipts, Will or testamentary disposition, if
any, or an attested copy of Legal Heirship Certificate issued by a Tahsildar /corporations.

29. How do I calculate the interest on my Fixed Deposit?

With our FD calculator, you can calculate your returns in no time.

All you need to know is:

• Deposit Amount: The amount you wish to invest

• Interest Payout: The timeframe or tenure that you want to invest

When choosing the above two fundamentals, the FD calculator displays the interest rates
applicable for cumulative and non-cumulative FD. Get hands-on with our easy-to-use online FD
calculator and calculate your returns.

30. What is a nomination?

Nomination is a process where the depositor assigns a person to whom the company must pay
the deposit amount in the event of the depositor's death. A depositor can fill in nomination
details when booking an FD.

31. What happens if the prevalent interest rates come down or goes up?

There will be absolutely no changes for the existing deposits as we are obliged to pay the
contracted rate till its maturity as per the current rules.
The revised rates will apply only to fresh deposits and renewals made on or after the date from
which the new rates are applicable.

32. What is the minimum and maximum investment tenure in an FD with Shriram Finance?

The minimum tenure of a fixed deposit is 12 months and the maximum tenure is up to 60
months
33. What are the documents required for Resident Individuals?

 Permanent Account Number or Form No. 60 as defined in Income-tax Rules, 1962 (Please
refer point 9(b)).
 Photograph needs to be submitted at the time of placing of fresh deposit/renewal, if not
submitted earlier.
 Copy of any OVD (Officially Valid Document) containing details of his identity and address

 List of OVD documents:

o Passport
o Driving License
o Voter ID
o Job card issued by NREGA duly signed by an officer of the State Government
o Aadhaar Card.
o Letter issued by the National Population Register containing details of name and
address.

Where the OVD mentioned above does not have updated address, the following additional
documents can be submitted for the limited purpose of proof of address (The Depositor shall
submit OVD with current address within a period of:
o Pension payment orders
o Property or Municipal Tax receipt
o Letter of allotment of accommodation from employer issued by State or Central
Government departments, statutory or regulatory bodies.
o Documents issued by Government departments of foreign jurisdictions and letter
issued by Foreign Embassy or Mission in India.
o Latest Utility bill which is not more than two months old of any service provider
(electricity, telephone, post-paid mobile phone, piped gas, water bill).

34. What it one loses the FD Receipt/ Interest warrant?

In the event of loss of the Fixed Deposit Receipt/ Interest warrant, the Company should be
immediately informed about the loss. The Company may issue a duplicate Fixed Deposit Receipt
/ Interest warrant, subject to non-encashment of the original instrument, upon receipt from the
depositor a "letter of loss of instrument' and an Indemnity Bond in the prescribed format signed
by all Deposit holders- [Click here to download Format of Indemnity] to its satisfaction and after
compliance with such other formalities as may be required by the company.

35. What happens at maturity of Fixed Deposit?

On Maturity the depositor can opt for:

o Payment of Maturity Amount

o Renewal of Maturity Amount
 If the deposit receipt is held in Physical form and not opted for auto refund, then the receipt
duly discharged on a revenue stamp of one rupee must be surrendered to the Company for
Repayment. In the case of the Deposit with "F or S/s" clause, the discharge must only be made
by the first named depositor only. However, in the case of a deposit with "A or S/s" clause, any
one of the depositor may give the discharge. The Company shall intimate the details of maturity
of the deposit to the depositor at least two months before the date of the maturity of the
deposit. Interest will cease on the maturity date of the deposit, if the deposit is not renewed
within six months from the date of maturity or if the deposit is withdrawn after the maturity
date.

Redemption payment will be made only by National electronic clearing services (NECS)/ National
Electronic Fund Transfer (NEFT) wherever such facility is available and by crossed Account payee
cheque for depositors in other locations.

36. What are the documents required for HUF?

 HUF PAN card

 HUF Declaration
 Proof of identity and Address (As per KYC documents mentioned for Individual) of the Karta.

37. Can a Trust/Company invest in FD?

Yes, a Trust may invest in our deposits.

If the trust is not registered OR not willing to be registered in future, a letter duly signed by
Authorized Signatories stating the Trust is not registered & not willing to be registered in future
is required.

Please note Shriram Finance Limited is not registered U/S 11(5) of income tax act, hence
Charitable Trust may invest in the FD of the Company at THEIR OWN RISK. Please also note that
all Trust investments are not exempted under the Indian Income Tax Act, 1961. There are
different types of Trusts. Private trusts shall be treated like any individual for accepting deposits
in our Company.

Some Trusts get specific tax exemption/lower tax rate on investments applicable to our
Company, so such specific exemption letter from the Income Tax Department is needed along
with the investment.

However, Charitable Trusts are those which have to register themselves u/s -12AA of the
Income tax Act 1961. The income of such trusts is completely exempt from income tax provided
that they strictly comply with the provisions of Sections 11 to 13 of the Income tax Act. One of
the conditions prescribed by the Act is in respect of the forms and modes of investing or
depositing the funds as per Sec.11 (5).

Deposits and debentures of Shriram Finance Limited do not come under the various avenues of
investment mentioned in Sec.11 (5). Any charitable trust which does not invest the funds in any
form and mode mentioned in that Section will lose the exemption granted to them.
38. What are the different types of fixed deposit plans available with Shriram?

Shriram offers cumulative and non-cumulative fixed deposit plans.

39. What are the documents required for Partnership Firm?

 Registration certificate
 Partnership deed
 Permanent Account Number of the partnership firm.
 Proof of identity and address (as per KYC documents mentioned for individuals) of the
authorized signatories.

40. What are the schemes available for deposits?

Cumulative as well as Non-Cumulative schemes are available for deposits.

41. What is the difference between a Non-Cumulative deposit and a Cumulative deposit?

In a 'Non- Cumulative scheme' the interest is payable on periodic basis. In 'Cumulative deposit
scheme', the interest is payable at the time of maturity along with the principal.

42. Can prematurity payment be paid favoring the second/third Depositor?

Premature payments will be made to the first depositor only.

43. Do you accept NRI deposits?

Fixed Deposits from NRIs are accepted from 01-04-2021 for maximum period of 3 years.

44. How can premature withdrawal be done and what are charges applicable?

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
As per the Directions of RBI currently in force, premature repayment:

1. 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)

2. After 3 months but before 6 months

No interest*
 3. 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 above rates are also applicable for premature repayment in the case of death of a
depositor. Premature repayments will be made only in favor of the first depositor

** In the event of death of a depositor, the Company shall repay the deposit prematurely,
even within the lock-in period, to the surviving depositor/s in the case of joint holding with
survivor clause, or to the nominee or the legal heir/s of the deceased depositor, on the
request of the surviving depositor/s/nominee/legal heir, and only against submission of proof
of death, and other necessary documents to the satisfaction of the Company.

45. What are the documents required for NRI?

1.PAN Copy
2. NRI undertaking cum FATCA/CRS Form
3. Address Proof (of India)
4. Address Proof (of Overseas)
5. PIO Card (if it is a foreign passport)
6. Tax Residency Certificate (TRC) for the IT Dept. of the country of which the investor is resident
to
avail DTAA benefit.
7.Overseas Employment letter (Optional for confirmation of residential status and overseas
address)
8. Passport with valid Visa Page
9. DTAA declaration

46. What is the difference between Form 15G and the Form 15H?

Declaration in the Form 15G can be made by an individual or a person (not being a company or
firm). Hence, a company or Firm cannot submit declaration in the Form 15G or in the Form 15H.
Form 15G is meant for Resident Individual who is below 60 years of age. 15H is meant for Senior
Citizens i.e. Resident Individual who is of 60 years of age or more at the time of placing the
deposit.

o Form 15G:
o Eligibility for 15G in case of individuals:

The Individual should be less than 60 years of age at the time of furnishing the declaration. The
total income during the financial year (i.e. year 2022-23) should not exceed the basic exemption
limit as per income tax i.e. 250,000/-. If the total income during the financial year exceeds or is
likely to exceed 250,000/- then the individual cannot submit Form 15G.
 o Eligibility for 15G if in case of persons other than Individuals:

15G can be submitted by a HUF, Association of persons, Body of individuals & Artificial
Juridical Persons, if the total income during the financial year (i.e. year 2022-23) does not
exceed the basic exemption limit as per the income tax i.e. 250,000/.

47. Can I add funds to my Fixed Deposit?

No, funds cannot be added at any time of the tenure once your FD is booked

48. Is a minor eligible to make a Fixed Deposit?

Yes, a minor can open a fixed deposit in their name, provided their parent or guardian
represents the minor. The application form for a fixed deposit should be signed by the
parent/guardian on behalf of the child.

49. What is the minimum deposit amount for Cumulative deposit & Non-Cumulative deposit
schemes?

Deposit will be accepted in multiples of 1,000/- subject to a minimum amount of T 5,000/- for
both Cumulative deposit and non-cumulative deposit.

50. What are the interest frequencies available and modes by which the interest is paid?

We have Monthly/Quarterly/Half Yearly and Yearly option for payment of interest. The interest
is directly credited to the bank account via NEFT (National Electronic Fund Transfer).

51. What is the range of tenure available for Fixed Deposits?

You can open a fixed deposit with the Company for a minimum tenure of 12 months to
maximum tenure of 60 months.

52. Who can invest in fixed deposits with Shriram Finance Limited?

We accept investments from Individuals, Company, Partnership Firms, Hindu Undivided Family
(HUF), Trust and Foundations, incorporated Associations or Body of Individuals, NRI.

53. Can there be more than one customer folio for one depositor?

All deposits held in the same name and same PAN, will be clubbed together under one customer
folio for the purpose of calculation of income tax.
54. What is the significance of furnishing Permanent Account Number?

As per the provisions of income tax, every person receiving any sum or income from which tax
would be deducted should furnish his PAN to the person deducting the tax. Please note if PAN is
not furnished then form 15G/H or any other Exemption Certificate submitted will be invalid and
tax will be deducted at the higher rate as applicable.

In the absence of PAN, no credit of the tax deducted shall be available in Form 26AS on the NSDL
website. Also if PAN is not submitted, no TDS certificate will be generated from TIN website for
the tax deducted by the company.

55. How can I renew fixed deposit maturity amount?

Deposits can be renewed from the date of maturity date if renewal instructions along with
deposit receipts except for auto-renewal, are received within 6 months from the date of
maturity. In such cases, the rate prevailing on the maturity date will be applicable. Otherwise,
the same will be renewed prospectively and in such cases interest ceases on maturity. Renewal
of deposit will be for an amount net of TDS if any. In the case of A or S/s accounts, renewal
retaining one of the depositor(s) as the first depositor are possible. However, renewals to the
persons other than the second/third depositors in A or S/s accounts are not possible. Renewal of
the deposit by a change in the first named depositor is not possible in the case of F or S/s
accounts.

56. How is the FD renewed?

Subject to the FD scheme being open, the deposit may be renewed on maturity by submitting a
duly filled fresh FD Application Form. It is necessary that the fresh FD Application Form should
be submitted along with the duly discharged old FD receipt with revenue stamp of requisite
value. The renewal will be subject to the terms and conditions of the FD scheme as applicable on
the maturity date of the old deposit.

57. What are the documents required for Trust & Foundations?

a) Registration certificate
b) Trust deed
c) Permanent Account Number.
d) Proof of identity and address (as per KYC mentioned for individuals) of the authorised
signatory of the trust/institution signing the application.

58. What is a TDS? Why do I require it?

Under the Indian Income Tax Act, 1961, interest earned on fixed deposits is taxable. You may
avoid the deduction in the following circumstances:
• By submitting form 15Gif you are under 60 years.
• By submitting form 15H if you are over 60 years (senior citizen).
59. What type of certificate do you get for the Tax deducted at source and how is the certificate
generated?

For the tax deducted at source, Tax deduction certificates in the prescribed Form 16A giving
details of the tax remitted to the Govt. etc. will be sent on quarterly basis if the deposit is under
quarterly scheme, half-yearly basis for deposit under half yearly scheme and at the end of the
year in case of Yearly scheme and cumulative deposits.

TDS certificate in Form 16A are generated quarterly on the basis of details provided in the
quarterly TDS statement filed by the deductor of Tax in TIN (Tax Information Network). For
deduction of tax at source, TDS certificate in Form 16A will be generated by the company
through TIN central system and which is downloaded from TIN website with a unique TDS
certificate number and shall be authenticated by using the digital signature.

60. How will I receive the interest amount?

The interest on FD will be credited to your registered bank account.

61. Can a Power of the Attorney (POA) holder sign the deposit application form?

Power Of Attorney (POA) holder can sign the deposit application form.

62. In case there is an urgent need of money, is premature withdrawal of deposit receipt allowed?

According to the Direction of the RBI, a deposit receipt cannot be prematurely closed before
three months from the date of Deposit/ renewal except in case of death of the depositor.
Premature withdrawal can be made after 3 months from the date of deposit/renewal.

The prematurity payment norms are as under:

 After 3 months but before 6 months - No interest*

 After 6 months but before the date of maturity - The interest payable shall be 2% lower
than the interest rate applicable to a public deposit for the period for which the public
deposit has run or if no rate has been specified for that period, than 3% lower than the
minimum rate at which public deposits are accepted by the company*
 *The above rates are also applicable for premature repayment in the case of death of a
depositor.

63. How do l tender the amount for the deposit? Is there a prescribed form for making deposit?

The amount can be tendered by means of A/c payee Cheque/DD issued in favor of SHRIRAM
FINANCE LIMITED. An application for the deposit should be made on the prescribed form. [Click
here to download form].
64. How do I change my Bank Account details?

Customer would need to submit the bank details in prescribed format [Click here to download
Bank Details/Tax Status change Request Letter]. He also needs to submit a valid ID proof copy
along with a personalized cancelled cheque (with his name printed), if not personalized, then
bank statement of the same account is needed. In case of corporate a Board resolution for
change in bank account details also is to be submitted.

65. When will the TDS certificate be dispatched?

TDS certificate will be dispatched on:

 01-Last week of July

 02-Last week of October
 03-Last week of January
 04- Last week of May

66. When will the interest be credited in a non-cumulative FD plan?

The interest in a non-cumulative FD is credited as below:

- For Monthly Payout: On the last day of every month
- For Quarterly Payout: On the last day of March/June/September, and December
- For Half-Yearly Payout: On the last day of March and September
- For Yearly Payout: On the last day of March

The first interest will be paid on the last day of the following month on which the FD is
processed.
For example, if your FD was initiated on 20th March, assuming that you have opted for monthly
interest, the same will be paid at the end of the following month, i.e. 30th April.

67. What is the difference between a cumulative and non-cumulative deposit?

In a cumulative FD, the interest amount is compounded over the deposit term and paid at
maturity. Whereas, in a non-cumulative FD, the interest amount is payable on a monthly,
quarterly, half-yearly, or yearly based on the tenure chosen. The point of differentiation
between the two is the periodicity of interest payments.

68. Can investments be made in joint names?

Deposits may be made in Joint Names of two/three person under "First or Survivor/s" (F or S) or
"Anyone or Survivor" (A or S). All Communications will be addressed to First depositor. All
Interest payments and repayment of deposits will be made in the name of First depositor.

69. Can you send the payments directly to the depositor's bank?

Yes. The payment can be sent directly to the depositor's bank.