Non cumulative Deposits

It is a deposit where the interest is being paid at Monthly / Quarterly intervals. Fixed deposits are accepted in multiples of Rs.1000/- subject to a minimum amount of Rs.10000/- 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.5,000/- per deposit account.
For Deposit interest rates Click here.

Application Procedure

For resident individuals, the list of documents required are:

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.

  • Passport
  • PAN card
  • Voter's Identity Card
  • Driving license
  • 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.

  • Telephone bill
  • Bank account statement
  • Letter from any recognized public authority
  • Electricity Bill
  • Ration Card
  • Letter from Employee
Know Your Customer (KYC) to be submitted :

INDIVIDUALS

For Id Proofs

For Address Proofs

a) Latest Photograph
b) Passport
c) PAN Card
d) Driving License
e) Voter Id
f) Job Card by NREGA
g) Aadhar Card

a) Passport
b) Driving License
c) Voter Id
d) Job Card by NREGA
e) Aadhar Card
f) Latest Utility Bill of any service provider (electricity, telephone, postpaid mobile phone, piped gas, water bill)
g) Property/Municipal Tax Receipt
h) Bank Pass book/Bank Statement
i) Pension Payment order
j) Accommodation Letter from Employer
k) Documents by Foreign Authorities

For Company

For Company

a) Certificate of incorporation.
b) Memorandum and Articles of Association.
c) A resolution from the Board of Directors and power of attorney granted to its Managers, officers or employees to transact on its behalf.

d) PAN copy of the company
e) Proof of identity and address (as per KYC documents mentioned for individuals) of the authorised signatory of the company signing the application.

For Partnership Firm

For Partnership Firm

a) Registration certificate
b) Partnership deed

c) Authorised signatory List
d) Proof of identity and address(as per KYC documents mentioned for individuals) of the authorised signatories.


For HUF

For HUF

a) HUF PAN card
b) HUF Declaration

c) Proof of Identity and Address ( As per KYC documents mentioned for Individual)of the Karta.

For Trust and Foundations

For Trust and Foundations

a) Registration certificate
b) Trust deed

c) Proof of identity and address (as per KYC mentioned for individuals) of the authorised signatory of the trust/institution signing the application.

For Unincorporated Association or Body of Individuals

For Unincorporated Association or Body of Individuals

a) Resolution of the managing Body of such Association or Body of Individuals.
b) Power of attorney granted to him to transact on its behalf.

c) 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 Individual.
d) Such information as may be required to collectively establish the legal existence of such an association or body of individuals.


For NRI

For NRI

a) PAN Card
b) Passport with Valid Visa
c) NRI Declaration
d) Tax Residency Certificate for the Income Tax Department of the Country of which the investor is a resident.

e) Overseas Employment Letter (optional)
f) DTAA Declaration
g) A PIO card to establish Indian origin, if it is a foreign passport.
h) A local address proof, if different from the Passport address.


Download the Shriram transport finance application form for deposits. Application Form, Form 15 H, Form 15 G
On Maturity On maturity the depositor can opt for:
  • Payment of maturity amount
  • 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.