#fdscheme

[snehamurali14]

Ensure a stable financial future by making a smart investment in the Shriram Unnati Fixed Deposit. With assured returns reaching up to 9.20%* per annum, you can enhance your savings today (inclusive of 0.50%* for Senior Citizens and 0.10%* for Women Depositors).

[snehamurali14]

Maximize your savings with Shriram Unnati Fixed Deposit! Seize the opportunity to invest today and enjoy assured returns of up to 9.20%* p.a., (inclusive of 0.50% for Senior Citizens and 0.10% for Women Depositors). For comprehensive details on Shriram Finance Limited's deposit-taking activities (SFL), please refer to the website: https://www.shriramfinance.in/fixed-deposit-interest-rates. Your path to financial growth starts here!

[snehamurali14]

Shriram Finance - Fixed Deposits

Investing your money couldn't be simpler than through a Fixed Deposit. Discover top FD schemes offering the most attractive fixed deposit interest rates. Shriram Finance offers highly competitive interest rates for Fixed Deposits.

[snehamurali14]

A Fixed Deposit is one of the easiest ways to invest your money. Find the best fd schemes with the highest fd interest rates. Shriram provides very competitive interest rates for Fixed Deposits.

[snehamurali14]

How to Open a Fixed Deposit Account? Requirements of Fixed Deposit?

The financial market is flooded with investment options in 2022. As safety and guaranteed returns are the most common priority, investors choose fixed deposits over mutual funds and stocks. Considering the current uncertain economic conditions, you must stay updated about the features and benefits of an FD (Fixed Deposit) to maximize your investment.

An FD offers growth, a reasonable interest rate and guaranteed returns at zero risk. And it is a go-to investment tool for investors who lack the risk appetite. The basic process of fixed deposit is that interest is accumulated on your deposited amount over a fixed tenure. You can withdraw the maturity amount and the accrued interest at the end of your FD tenure.

What is Fixed Deposit Account?

A fixed deposit account is an easiest and safest way to invest lump sum money. The FD account is popular in 2022 because it offers a stable interest rate even if the market crashes. As COVID-19 overturned the stock markets, almost all the investors are moving from uncertain investment options to stable investments like fixed deposits. However, the fixed deposit rates may vary from banks to NBFCs (Non-Banking Financial Companies)

Features of Fixed Deposit

Before opening a fixed deposit account, you must know all the features and details behind a fixed deposit account. Here are a few features that can help you understand how a fixed deposit works.

Safe Investment – All the other investment options are subject to change. Contrarily, FDs are reliable and stable throughout your investment period.

Rate of Interest – The interest rate in a fixed deposit depends on the tenure of the FD, i.e. interest rates are higher for longer tenure FD and lower for the shorter tenure.

Flexible Tenure – You can choose your FD's tenure when opening your FD account. And, you can go up to 10 years depending on the tenure available with the banks or NBFCs.

Tax Deduction – According to the Income Tax Act, 1961, interest earned on your principal amount is subject to tax deductions.

Top 5 Benefits of Fixed Deposit

Fixed deposit offers many benefits to investors in 2022. Below are a few;

Your invested principal amount is safe throughout the tenure. And there is no risk involved.

You can prearrange your interest pay-out, i.e., monthly, quarterly, half-yearly and annually or go with the lump sum amount at the maturity.

The interest rates in your fixed deposit are safe from market fluctuations.

Senior citizens are entitled to an extra interest rate on their fixed deposit accounts.

You can get a loan against your FD if you need funds in an emergency.

Requirement of a Fixed Deposit

There are a few essential requirements you have to abide by to open a fixed deposit account. Basically, every Indian citizen and an NRI (Non-Resident Indian) can book an FD in India.

Proof of Identity:

Voter ID Card

PAN Card

Aadhaar Card

Driving License issued by the Regional Transport Authority

Ration Card

Senior Citizen ID Card

Proof of Communication Address:

Utility Bills (telephone, electricity, post-paid mobile bill, or water bill)

Bank Statement with Cheque

Property Tax Bill

Post-Office Issued Identification Card or Certificate, etc.

How to Open a Fixed Deposit Account?

You can open a fixed deposit account both online and offline.

Online – Fixed Deposit Account Opening

The online process is the simplest and the quickest way to open an FD account with a bank or NBFC. However, before opening an FD account, you must use a  FD calculator to find the exact maturity amount you would get at the end of your tenure. So let’s now see how to open an FD account online.

Step 1: Check out the website of the NBFC or bank where you are interested in opening your fixed deposit account.

Step 2: Login using your existing ID or create a new login ID.

Step 3: Select the option “Open FD Account”

Step 4: Add required details like your principal amount, nominee and tenure.

Step 5: Confirm your details and make the principal payment using net banking.

Step 6: Finally, down the receipt and the FD agreement for future reference.

Offline – Fixed Deposit Account Opening

You can open a fixed deposit account by walking into a bank branch. The process to open an FD account with or without an existing account is the same. All you have to do is fill out the FD application form. Then submit identity and address proof to complete your KYC and open your FD account seamlessly.

Opening an FD account is much simpler than choosing the bank or NBFC to invest your FD. Hence, do your research with various banks and NBFCs by comparing interest rates and flexible tenure. Then, make a decision based on your convenience.

Open a Fixed Deposit Now!

Nowadays, from banks, NBFCs to post offices offer fixed deposit facilities. But the clear winner is an NBFC because it provides India's best-fixed deposit rates. Now that you understand how to open a fixed deposit account book an FD with Shriram and start your investment journey towards success.

[snehamurali14]

Shriram Finance - Fixed Deposit Interest Rate (Interest rates up to 9.20%* p.a.)

Investing your money couldn't be simpler than through a Fixed Deposit. Discover top FD schemes offering the most attractive fixed deposit interest rates. Shriram Finance offers highly competitive interest rates for Fixed Deposits.