Shriram Commercial Vehicle Finance

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FIXED DEPOSITS

It is a deposit where the Interest is being paid at Monthly/Quarterly intervals. Fixed Deposits are accepted in multiples of Rs. 1,000/- subject to a minimum amount of Rs. 25,000/- per deposit account

Interest payment Date	Months in which interest is payable
	Quarterly
25th	March, June, Sep, Dec

Interest Payment Modes :

- Post Dated interest warrants sent direct to depositors
- Direct to the depositor with bank details
- Through RBI Electronic Clearance Service (ECS)
- DD

CUMULATIVE DEPOSITS

Cumulative Deposits are accepted in multiples of Rs. 1,000/- subject to a minimum amount of Rs. 25,000/- per deposit account. For Deposit interest rates Click here.

APPLICATION PROCEDURE

List of documents required:

For Resident Individual

Fresh application form
A/c payee cheque / Demand Draft / Pay order favouring Shriram Transport Finance Company Ltd.

To comply with ?Know your customer? guidelines for NBFCs prescribed by the Reserve Bank Of India, first applicant should provide a copy of any one of the following documents (which contains the photograph of the concerned first depositor) for identification and proof of residential address.

1. Passport
2. PAN card
3. Voter's identity Card
4. Driving license
5. Bank passbook with photo

In case the address mentioned in the above document differs from the current address mentioned in the application form then a copy of any one of the following documents should be furnished as proof of residential address.

I. Telephone bill
II. Bank account statement
III. Letter from any recognized public authority
IV. Electricity Bill
V. Ration Card
VI. Letter from Employee

Know Your Customer (KYC) to be submitted :
For Companies	Documents
- Name of the company - Principal place of business - Mailing address of the company - Telephone/Fax Number	i.	Certificate of incorporation and Memorandum & Articles of Association
	ii.	Resolution of the Board of Directors to open an account and identification of those who have authority to operate the account
	iii.	Power of Attorney granted to its managers, officers or employees to transact business on its behalf
	iv	Copy of PAN allotment letter
	v	Copy of the telephone bill
For Partnership Firms		Documents
- Legal name - Address - Names of all partners and their addresses - Telephone numbers of the firm and partners	i.	Registration certificate, if registered
	ii.	Partnership deed
	iii.	Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf
	iv.	Any officially valid document identifying the partners and the persons holding thePower of Attorney and their addresses
	v.	Telephone bill in the name of firm/partners.

For Trusts and Foundations		Documents
- Names of trustees, settlers, beneficiaries and signatories - Names and addresses of the founder, the managers / directors and the beneficiaries - Telephone/fax numbers	i.	Certificate of registration, if registered
	ii.	Power of Attorney granted to transact business on its behalf
	iii.	Any officially valid document to identify the trustees, settlors, beneficiaries and those holding Power of Attorney, founders/managers/ directors and their addresses
	iv.	Resolution of the managing body of the foundation / association
	v.	Telephone bill
Click here to download the Shriram Transport Finance application form for deposits.

ON MATURITY

On maturity the depositor can opt for:

a. Payment of maturity amount
b. Renewal of maturity amount.

Maturity Payment

Discharge of deposit receipt

Scenario	Anyone or Survivor A or S	Number One or Survivor N or S
Regular payment on maturity	Anyone of the depositors can sign	First depositor alone can sign

Maturity Intimation letter/ Renewal Advice is being sent 15 days (2 months) in advance of the maturity date. The depositor has to surrender the Original Term Deposit Receipt duly signed (In case of Renewal, the depositor has to sign on the reverse of TDR without affixing a Revenue stamp; in case of Repayment, the depositor has to sign on the reverse of TDR affixing a Revenue stamp) along with renewal form signed by the depositor/s / repayment instructions. .

Premature withdrawal

Discharge of deposit receipt

Scenario	Anyone or Survivor A or S	Number One or Survivor N or S
Premature payment	All depositors have to sign	First depositor alone can sign

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 N or S/s deposit.

Before 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 percent lower than the interest rate applicable to a depositor for the period for which the deposit has run or if no rate has been specified for that period, then 3 percent lower than the minimum rate at which deposits are accepted by the company*

* The above Rates are also applicable for Prematurity payment (PMP) in the case of a death of depositor.

Download Deposit Application form

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