Product Features | STFC


Product Features

Shriram Transport Finance Company FD rated “FAAA/Stable” by CRISIL (indicates high degree of Safety) and “MAA+/ with Stable Outlook” by ICRA (Indicates high credit quality)

Below stated deposit Periods/Tenures available

  • 12 Months
  • 24 Months
  • 36 Months
  • 48 Months
  • 60 Months

Resident Individual


The company reserves the right to allow, at its absolute discretion, withdrawal of recurring deposit before maturity. Where a recurring deposit is so allowed to be prematurely withdrawn the relative recurring deposit receipt must be discharged by all the depositors in case of A or S/s deposit and by the first named depositor in case of F or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:

Up to 3 months from the date of recurring deposit (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 per cent lower than the Interest rate applicable to a recurring deposit for the period for which the recurring deposit has run or if no rate has been specified for that period, then 3 per cent lower than the minimum rate at which recurring deposits are accepted by the Company *

** In the event of death of a depositor, the Company shall repay the recurring 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.

* The above rates are also applicable for premature repayment in the case of death of a depositor.

Prematurity repayments will be made only in favor of the first depositor.

The Company offers Auto Refund & Conversion to Fixed deposit options.

While applying for a Recurring deposit, depositor can opt for either Auto Refund or Conversion to Fixed Deposit.

Auto Refund

If Auto Refund is opted then the maturity proceeds will be credited to the depositors account on the date of maturity. Repayment of recurring 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.

Conversion to Fixed Deposit

Under Conversion to Fixed Deposit, based on the instructions opted under conversion to Fixed Deposit in maturity instruction on Recurring Deposit application:

1) the deposit will continue to be auto renewed as per the instructions specified on the application form (Under maturity instruction) till such time instructions contrary are received.

2) the company will generate Fixed Deposit E-Receipt to the registered email id of the first applicant on conversion.

Based on the option selected by the depositor, the Recurring deposit receipt will be renewed on due date for full amount (net of TDS, if any)