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Fixed deposits are the most secured saving options that let your money grow with assured returns. Term Deposits enable you to invest for a better and secured future by offering guaranteed returns as well as the safety of the invested amount. Deposits are a contract between you and the Shriram City for the approved interest rate from the date of investment till maturity. Shriram City comes with about 45 years of unchallenged trust in the Indian market, with over 5 million trusted customer base across the length and breadth of the nation. With investment tenure ranging from 12 months to 60 months, Shriram City's fixed-deposits come with a "MAA+/ with Stable Outlook" rating by ICRA (Indicates high credit quality).
Shriram City offers attractive FD interest rates to grow your savings securely. Our Fixed-deposit-calculator lets you calculate how much interest you will earn at the end of the tenure and helps you in making a sound financial decision. Shriram City Union Finance's term deposit schemes come with one of the best features and benefits that multiply your savings.
Fixed-Period Deposit are the most popular investment option in India. Millions across the country have chosen Shriram City fixed-deposit scheme as their trusted investment option. Primarily there are two types of Term Deposits offered by Shriram City:
In a cumulative fixed deposit, the interest earned against the deposit will get compounded along with the principal. The interest will not be payable in instalments. Instead, it will be paid only along with the principal amount during its maturity. Shriram City accepts fixed deposits instalments only in multiples of Rs. 1,000/- subject to a minimum amount of Rs.5,000/- per deposit.
In this type of deposit, the interest is payable in monthly, quarterly, half-yearly, or annual instalments. It is suitable for individuals or pensioners who are looking for a periodical income. These deposits are acceptable in multiples of Rs.1,000/- subject to a minimum amount of Rs.5,000/- per Deposit.
Interest for Non-Cumulative Deposits will be paid as per below-given schedule: -
Shriram-City Fixed Period Deposit tenure is provided for both online and offline scheme.You can choose the tenure for deposits as per your requirement.
Usually, the required documents to invest in Shriram City fixed-term deposit are:
Other than the above documents, for HUF, trusts, and other entities, please refer to our list of documents required.
Period (months) | Monthly % P.A | Quarterly % P.A | Half-yearly % P.A | Yearly % P.A | |||
---|---|---|---|---|---|---|---|
12 | 7.25 | 7.30 | 7.37 | 7.50 | |||
15 | 7.44 | 7.49 | 7.56 | 7.70 | |||
24 | 7.44 | 7.49 | 7.56 | 7.70 | |||
30 | 7.86 | 7.92 | 8.00 | 8.15 | |||
36 | 7.86 | 7.92 | 8.00 | 8.15 | |||
45 | 7.90 | 7.96 | 8.04 | 8.20 | |||
48 | 7.90 | 7.96 | 8.04 | 8.20 | |||
60 | 8.09 | 8.15 | 8.23 | 8.40 | |||
Additional interest of 0.40% p.a. will be paid for Senior citizen (Completed age 60 years on the date of deposit/renewal) Additional interest of 0.25% p.a on all Renewals, where the deposit is matured. Additional interest of 0.15% p.a to employees of Shriram Group Companies and their relatives. Deposits will be accepted in multiples of 1000/- subject to a minimum amount of 5000/-. Cumulative deposits can be renewed for maturity value. |
Period (months) | Rate (P.A at Monthly rests) | Effective Yield % P.A | Maturity value for ₹ 5000/- | ||||
---|---|---|---|---|---|---|---|
12 | 7.25 | 7.50 | 5,375 | ||||
15 | 7.44 | 7.78 | 5,485 | ||||
24 | 7.44 | 8.00 | 5,800 | ||||
30 | 7.86 | 8.66 | 6,080 | ||||
36 | 7.86 | 8.84 | 6,325 | ||||
45 | 7.90 | 9.17 | 6,720 | ||||
48 | 7.90 | 9.26 | 6,850 | ||||
60 | 8.09 | 9.94 | 7,485 | ||||
Additional interest of 0.40% p.a. will be paid for Senior citizen (Completed age 60 years on the date of deposit/renewal) Additional interest of 0.25% p.a on all Renewals, where the deposit is matured. Additional interest of 0.15% p.a to employees of Shriram Group Companies and their relatives. Deposits will be accepted in multiples of 1000/- subject to a minimum amount of 5000/-. Cumulative deposits can be renewed for maturity value. |
Period (months) | Monthly % P.A | Quarterly % P.A | Half-yearly % P.A | Yearly % P.A | |||
---|---|---|---|---|---|---|---|
12 | 7.25 | 7.30 | 7.37 | 7.50 | |||
24 | 7.44 | 7.49 | 7.56 | 7.70 | |||
36 | 7.86 | 7.92 | 8.00 | 8.15 | |||
48 | 7.90 | 7.96 | 8.04 | 8.20 | |||
60 | 8.09 | 8.15 | 8.23 | 8.40 | |||
Additional interest of 0.40% p.a. will be paid for Senior citizen (Completed age 60 years on the date of deposit/renewal) Additional interest of 0.25% p.a on all Renewals, where the deposit is matured. Additional interest of 0.15% p.a to employees of Shriram Group Companies and their relatives. Deposits will be accepted in multiples of 1000/- subject to a minimum amount of 5000/-. Cumulative deposits can be renewed for maturity value. |
Period (months) | Rate (P.A at Monthly rests) | Effective Yield % P.A | Maturity value for ₹ 5000/- | ||||
---|---|---|---|---|---|---|---|
12 | 7.25 | 7.50 | 5,375 | ||||
24 | 7.44 | 8.00 | 5,800 | ||||
36 | 7.86 | 8.84 | 6,325 | ||||
48 | 7.90 | 9.26 | 6,850 | ||||
60 | 8.09 | 9.94 | 7,485 | ||||
Additional interest of 0.40% p.a. will be paid for Senior citizen (Completed age 60 years on the date of deposit/renewal) Additional interest of 0.25% p.a on all Renewals, where the deposit is matured. Additional interest of 0.15% p.a to employees of Shriram Group Companies and their relatives. Deposits will be accepted in multiples of 1000/- subject to a minimum amount of 5000/-. Cumulative deposits can be renewed for maturity value. |
Period (months) | Monthly % P.A | Quarterly % P.A | Half-yearly % P.A | Yearly % P.A | |||
---|---|---|---|---|---|---|---|
12 | 7.48 | 7.53 | 7.60 | 7.75 | |||
15 | 7.67 | 7.72 | 7.80 | 7.95 | |||
24 | 7.67 | 7.72 | 7.80 | 7.95 | |||
30 | 8.09 | 8.15 | 8.23 | 8.40 | |||
36 | 8.09 | 8.15 | 8.23 | 8.40 | |||
45 | 8.13 | 8.19 | 8.27 | 8.45 | |||
48 | 8.13 | 8.19 | 8.27 | 8.45 | |||
60 | 8.32 | 8.38 | 8.47 | 8.65 | |||
Additional interest of 0.40% p.a. will be paid for Senior citizen (Completed age 60 years on the date of deposit/renewal) Additional interest of 0.25% p.a on all Renewals, where the deposit is matured. Additional interest of 0.15% p.a to employees of Shriram Group Companies and their relatives. Deposits will be accepted in multiples of 1000/- subject to a minimum amount of 5000/-. Cumulative deposits can be renewed for maturity value. |
Period (months) | Rate (P.A at Monthly rests) | Effective Yield % P.A | Maturity value for ₹ 5000/- | ||||
---|---|---|---|---|---|---|---|
12 | 7.48 | 7.75 | 5,385 | ||||
15 | 7.67 | 8.03 | 5,500 | ||||
24 | 7.67 | 8.27 | 5,825 | ||||
30 | 8.09 | 8.94 | 6,115 | ||||
36 | 8.09 | 9.13 | 6,370 | ||||
45 | 8.13 | 9.48 | 6,775 | ||||
48 | 8.13 | 9.58 | 6,915 | ||||
60 | 8.32 | 10.28 | 7,570 | ||||
Additional interest of 0.40% p.a. will be paid for Senior citizen (Completed age 60 years on the date of deposit/renewal) Additional interest of 0.25% p.a on all Renewals, where the deposit is matured. Additional interest of 0.15% p.a to employees of Shriram Group Companies and their relatives. Deposits will be accepted in multiples of 1000/- subject to a minimum amount of 5000/-. Cumulative deposits can be renewed for maturity value. |
Period (months) | Monthly % P.A | Quarterly % P.A | Half-yearly % P.A | Yearly % P.A | |||
---|---|---|---|---|---|---|---|
12 | 7.48 | 7.53 | 7.60 | 7.75 | |||
24 | 7.67 | 7.72 | 7.80 | 7.95 | |||
36 | 8.09 | 8.15 | 8.23 | 8.40 | |||
48 | 8.13 | 8.19 | 8.27 | 8.45 | |||
60 | 8.32 | 8.38 | 8.47 | 8.65 | |||
Additional interest of 0.40% p.a. will be paid for Senior citizen (Completed age 60 years on the date of deposit/renewal) Additional interest of 0.25% p.a on all Renewals, where the deposit is matured. Additional interest of 0.15% p.a to employees of Shriram Group Companies and their relatives. Deposits will be accepted in multiples of 1000/- subject to a minimum amount of 5000/-. Cumulative deposits can be renewed for maturity value. |
Period (months) | Rate (P.A at Monthly rests) | Effective Yield % P.A | Maturity value for ₹ 5000/- | ||||
---|---|---|---|---|---|---|---|
12 | 7.48 | 7.75 | 5,385 | ||||
24 | 7.67 | 8.27 | 5,825 | ||||
36 | 8.09 | 9.13 | 6,370 | ||||
48 | 8.13 | 9.58 | 6,915 | ||||
60 | 8.32 | 10.28 | 7,570 | ||||
Additional interest of 0.40% p.a. will be paid for Senior citizen (Completed age 60 years on the date of deposit/renewal) Additional interest of 0.25% p.a on all Renewals, where the deposit is matured. Additional interest of 0.15% p.a to employees of Shriram Group Companies and their relatives. Deposits will be accepted in multiples of 1000/- subject to a minimum amount of 5000/-. Cumulative deposits can be renewed for maturity value. |
The Shriram City Term Deposit Premature Withdrawal Norms are as follows:
No repayment except in the event of the death of the depositor**
No Interest*
The interest at 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 Shriram City*
** in the event of the 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 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 Shriram City.
* The above rates are also applicable for premature repayment in the case of death of a depositor.
Opening a fixed-term-deposit in Shriram can now be done from the comfort of your couch. You can invest in Shriram fixed-term-deposit through online itself.
While the market has too many high-return investment options, fixed-period-deposits have still not lost its charm. They have a plethora of benefits that make it the best investment option for the old and young alike.
One of the most advantageous points of fixed period deposits is that it offers guaranteed returns. Unlike other investments that are dependent on the market cycle, fixed period deposits provide a steady income. Regardless of how much you have deposited, your investment will generate a salary as per the specified interest rate.
With an investment period of 12-60 months, Shriram City's fixed-period-deposit schemes will help you achieve your financial goals. We also offer a higher rate of interest to make your earnings better. This lock-in period will ensure that you keep your savings safe and even earn interest for the same.
When compared to the standard savings account, FD's generally offer a higher rate of interest. For instance, Shriram City offers up to 8.40%* p.a. on invested amount. The FD interest rates will vary according to your chosen tenure, and senior citizens get an additional 0.40%* p.a.
FD's are a safe investment that gives you assured returns at the end of the lock-in period. This feature makes it a favoured option among individuals who want stable returns.
Interest Rate | Interest Payout | Maturity Amount |
---|---|---|
8.01 | ₹ 155379 | ₹ 568379 |
Period | Interest rate | Interest payout |
---|---|---|
Monthly | 8.01% | ₹ 2757 |
Quarterly | 8.01% | ₹ 2757 |
Half yearly | 8.01% | ₹ 2757 |
Yearly | 8.01% | ₹ 2757 |
Fixed deposit is investment tools offered by Shriram City, where you can deposit your money for a higher rate of interest than savings accounts for a fixed period. You have multiple options to choose the investment period based on your need.
Resident Individual, Companies, Partnership Firms, HUF, Unincorporated Association, or Body of Individuals and Trust & Foundation can invest in Shriram City’s fixed deposit schemes.
These deposits are acceptable in multiples of ₹ 1,000/- subject to a minimum amount of ₹ 5,000/- for cumulative deposit and ₹ 5,000/- for non-cumulative deposit.
Your fixed deposit interest is payable as monthly, quarterly, half-yearly, or annual payments. The interest amount will directly be credited to your bank account through the NEFT only.
Premature withdrawal from a fixed deposit means that the depositor is allowed to close the Fixed Deposit before its tenure ends.
Once, your maturity period is over, you need walk-in to your branch and submit the fixed deposit certificate duly discharged by the investor provided to you at the time of investment.