How to Invest in a Fixed Deposit?
Investing in Shriram Unnati Fixed Deposit (FD) offers a reliable and rewarding way to grow your savings. To start, choose Shriram Finance for competitive FD rates and attractive features. You can easily invest online or visit our branch. Senior citizens benefit from enhanced interest rates with Shriram Unnati FD.
Shriram Unnati Fixed Deposit, accredited with "[ICRA]AA+ (Stable)" by ICRA and "IND AA+/Stable" by India Ratings and Research, offers interest rates up to 9.40%* p.a., including an additional 0.50%* p.a. for senior citizens and 0.10%* p.a. for women depositors, along with flexible investment tenures ranging from 12 to 60 months.
Start your investment journey with just ₹5,000. Shriram FD is the convenient choice for every investor.
Steps to Invest in a Fixed Deposit
Investing in fixed deposit offered by Shriram Finance can be done both online and offline. It is a relatively simple and reliable method to increase your savings.
- Step 01Register using your mobile number & choose the investment amount, tenure, and payout
- Step 02Enter PAN details. Complete your KYC, share depositor details & any other declaration
- Step 03Complete your payment online and add nominee details
- Step 04Your FD is booked! Download your FD certificate & enjoy earning returns on your savings
Once the payment is processed, an email confirmation and a digital fixed deposit certificate will be sent to your registered email ID.
Invest in FD online with Shriram Finance and manage your funds seamlessly.
- Step 1Visit the nearest branch
Find a Shriram Finance branch which is close to your home or office. You can easily find the branch locations on the official website of Shriram Finance.
- Step 2Get assistance
Visit the branch and meet the customer service representatives. They will assist and guide you through the entire process of opening a fixed deposit account. Complete the application form and ensure all required documents are submitted with it.
- Step 3Apply and pay the amount
Submit a completed and signed application form along with the documents recommended by the branch's customer service representative. Deposit the amount at the branch using a cheque, or through NEFT.
- Step 4Confirmation
After a successful deposit, Shriram Finance will assess your application and open your fixed deposit account at the earliest.
Reasons for Investing in Fixed Deposits
Investing in fixed deposits provides a range of compelling benefits, aligning well with various financial objectives. Here are some of the reasons why you must consider investing in fixed deposits
Reliable Returns
Fixed Deposits provide consistent returns, ensuring predictable earnings over the investment period.
Additional Interest Rate for Senior Citizens
Senior citizens can benefit from our additional interest rate. Enjoy an additional interest rate of 0.50%* p.a. for senior citizens and 0.10%* p.a. for women depositors.
Attractive Interest Rates
FDs generally offer higher interest rates compared to standard savings accounts, helping your money grow more effectively.
Fixed Tenure
With a set tenure, you know exactly when your investment will mature, allowing for clear financial planning.
Flexible Options
Choose from various tenures and interest payout options to match your financial needs.
Easy Investment
The investment process is straightforward, with options to invest online or in person.
Investment in Shriram Unnati Fixed Deposit is a smart move that combines simplicity, reliability, and the potential for financial growth.
Why Invest in Shriram Unnati Fixed Deposit?
There are various advantages to choosing Shriram Unnati Fixed Deposit which are as follows:
Shriram Finance offers online and offline modes to invest in FD, making it easy and convenient for you to invest and manage the fixed deposit investment. Moreover, the minimum amount starts from as low as ₹5000, making it accessible for a wide range of investors.
Shriram Finance offers higher interest rates on its fixed deposit schemes. You can earn returns up to 9.40%* p.a. inclusive of a special interest benefit of 0.50%* p.a. for senior citizens and 0.10%* p.a. for women depositors.
The fixed deposits offered by Shriram Finance are rated "[ICRA]AA+ (Stable)" by ICRA and "IND AA+/Stable" by India Ratings and Research. These ratings, from leading credit agencies, reflect the reliability of the institution.
You can choose from a tenure ranging from 12 months to 60 months and plan for short or long-term financial goals.
Women investors can enjoy an additional interest rate of 0.10%* p.a. on their deposits while senior citizens get an additional 0.50%* p.a. These added interest rates motivate women and elders to invest in Shriram Unnati FDs for their financial needs.
Shriram Finance offers two types of fixed deposit schemes – cumulative and non-cumulative. With the cumulative scheme, you can create a lump sum corpus for your goal; with the non-cumulative scheme, you can create a regular source of income. Thus, you can choose a deposit based on your financial needs.
FAQs
What is the best method to invest in FD?
The best method to invest in a fixed deposit is to choose an institution offering competitive interest rates and flexible tenures. Evaluate the options based on your financial goals and deposit amount. Investing in a Shriram Unnati FD online is a quick process.
Is fixed deposit a good investment?
Fixed deposits can be considered a good investment option for consistent returns and capital preservation.
How much will I get if I invest ₹1 lakh in FD?
The amount you will get if you invest ₹1 lakh in FD depends on the tenure of the deposit and the interest rate offered. You can use the Shriram Unnati FD calculator to get an accurate estimate of your returns on FD.
FD - How do I get high returns on FD?
You can consider investing for longer tenures to get high returns on your fixed deposit, as longer-tenure FDs often pay higher interest rates. Further, you may also look for higher-yielding options or FDs with specialised interest benefit from financial institutions. At Shriram Finance, senior citizens receive an additional 0.50%* p.a. special interest rate.
Can I get monthly interest on Shriram FD?
You can get monthly interest on Shriram Unnati Fixed Deposit if you choose the non-cumulative deposit plan. Non-cumulative fixed deposit option pays the interest as and when it is earned. If you choose the monthly pay out mode, you will get the interest earnings monthly. You can choose the pay-out based on their financial goals.
How to smartly invest in FD?
To smartly invest money in an FD, choose a deposit amount and a tenure that aligns with your financial goals. Choose an FD that offers the maximum possible rate of return, like Shriram Unnati Fixed Deposit. After you invest in an FD, stay invested for the chosen tenure and avoid premature withdrawals and reduce the overall interest income.
How many years of FD is beneficial?
The tenure of the FD depends on your financial goals. You can choose either a short-term FD investment or long-term FD investment based on the term that matches your goals to get the funds when needed. That being said, choosing a longer tenure is beneficial as you can maximise the interest-earning on your deposits.
What is the minimum investment in Shriram FD?
The minimum investment required in an FD offered by Shriram Finance is ₹5000.
Are FD returns monthly or yearly?
The FD returns are calculated annually. However, if you choose the non-cumulative fixed deposit scheme, you can get the interest income paid out annually or monthly per your choice.
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 FD form download
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 Deposit
- Home
- Investments
- Fixed Deposit
- How to Invest
