Shriram Transport Finance Company Limited
Shriram Transport Finance Company Limited (STFC), India's largest player in commercial vehicle finance, was established in the year 1979. The company has a network of 479 branches and service centers. STFC is the flagship company of the Shriram Group which has significant presence in Chit Funds, Consumer Durable Finance, Life Insurance, General Insurance, Stock Broking, Property Development, Project Engineering, and Wind Energy among others.
WHAT IS RATING?
'TAA' rating affirmed by FITCH
WHAT IS THE RATE OF INTEREST?
| Period | Rate of interest for Individual(p.a.) | Rate of interest for Senior Citizen(p.a) | Minimum fixed deposit amount | Interest Pay Out | |
|---|---|---|---|---|---|
| CUMULATIVE DEPOSIT -- Interest Compounded Annually | |||||
| 12 Months | 7.59% | 8.09% | Rs.5,000 | On maturity date | |
| 24 Months | 7.87% | 8.37% | Rs.5,000 | On maturity date | |
| 36 Months | 8.38% | 8.88% | Rs.5,000 | On maturity date | |
| 48 Months | 8.04% | 8.54% | Rs.5,000 | On maturity date | |
| 50 Months | 8.47% | 8.97% | Rs.5,000 | On maturity date | |
| 60 Months | 8.47% | 8.97% | Rs.5,000 | On maturity date | |
| MONTHLY NON CUMULATIVE DEPOSIT | |||||
| 12 Months | 7.59% | 8.09% | Rs.5,000 | Monthly | |
| 24 Months | 7.87% | 8.37% | Rs.5,000 | Monthly | |
| 36 Months | 8.38% | 8.88% | Rs.5,000 | Monthly | |
| 48 Months | 8.04% | 8.54% | Rs.5,000 | Monthly | |
| 50 Months | 8.47% | 8.97% | Rs.5,000 | Monthly | |
| 60 Months | 8.47% | 8.97% | Rs.5,000 | Monthly | |
| QUARTERLY NON CUMULATIVE DEPOSIT | |||||
| 12 Months | 7.63% | 8.14% | Rs.5,000 | Quarterly | |
| 24 Months | 7.92% | 8.42% | Rs.5,000 | Quarterly | |
| 36 Months | 8.43% | 8.94% | Rs.5,000 | Quarterly | |
| 48 Months | 8.1% | 8.6% | Rs.5,000 | Quarterly | |
| 50 Months | 8.52% | 9.03% | Rs.5,000 | Quarterly | |
| 60 Months | 8.52% | 9.03% | Rs.5,000 | Quarterly | |
| HALF YEARLY NON CUMULATIVE DEPOSIT | |||||
| 12 Months | 7.71% | 8.22% | Rs.5,000 | Half Yearly | |
| 24 Months | 8.0% | 8.51% | Rs.5,000 | Half Yearly | |
| 36 Months | 8.52% | 9.04% | Rs.5,000 | Half Yearly | |
| 48 Months | 8.18% | 8.68% | Rs.5,000 | Half Yearly | |
| 50 Months | 8.62% | 9.13% | Rs.5,000 | Half Yearly | |
| 60 Months | 8.62% | 9.13% | Rs.5,000 | Half Yearly | |
| YEARLY NON CUMULATIVE DEPOSIT | |||||
| 12 Months | 7.85% | 8.39% | Rs.5,000 | Annually | |
| 24 Months | 8.15% | 8.69% | Rs.5,000 | Annually | |
| 36 Months | 8.7% | 9.25% | Rs.5,000 | Annually | |
| 48 Months | 8.35% | 8.85% | Rs.5,000 | Annually | |
| 50 Months | 8.8% | 9.34% | Rs.5,000 | Annually | |
| 60 Months | 8.8% | 9.34% | Rs.5,000 | Annually | |
HOW TO INVEST?
- Applications for Deposits in the prescribed Form duly signed by all the joint applicants and accompanied by cheques or demand drafts should be sent to Wealth India Financial Services Pvt Ltd.
- Payments should be made by means of an Account Payee cheque / demand draft made payable to "Shriram transport finance company limited" payable at par at the centers where the application is submitted..
- Deposits will be accepted from Resident individuals, HUFs, Domestic Company, Charitable institutions and Minors (through their guardians only).
- Signature by thumb impression must be attested by a Magistrate or a Notary Public or a Special Executive Officer under his Official Seal.
HOW IS FIXED DEPOSIT RECEIPT MAILED?
- Fixed Deposit Receipts shall be mailed by courier or Registered/Speed Post within 6 weeks of the date of realization of the Cheque, at the address of the first applicant given in the Application Form. The Company shall not be responsible for any loss or delay in transit.
- In case of loss or destruction or mutilation of the Deposit Receipt, the Company may at its sole discretion issue a duplicate receipt subject to compliance with its terms and conditions including an indemnity duly signed by all the joint depositors. All expenses in this connection will be borne by the depositor(s).
- Fixed Deposit Receipts will not be transferable. The Company may however, at its discretion permit the addition of one name to the Deposit Receipt under certain circumstances and subject to such terms and conditions as it may deem fit. The Company will not accept or recognize any lien on or assignment of the Fixed Deposit Receipt for a loan taken from or by arrangement with the Company.
HOW IS THE PAYMENT OF INTEREST MADE?
Interest on Deposit (Non Cumulative) will be paid on 30th September and 31st March. In case of interest payment for part period the same will be made on pro-rata basis. However, if a Deposit is made within a period of 30 days prior to any of the interest payment date, the interest for the part period will be paid on the next interest payment date. Payment of interest will be made through interest warrant or through Electronic Clearing Service (ECS) in respect of the places where such facility has been offered by the Company.
WHAT IS THE RENEWAL/REPAYMENT OF DEPOSITS PROCEDURE?
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. . | ||
| WHAT IS THE PREMATURE WITHDRAWAL PROCEDURE? | ||
| 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 | No repayment (Not applicable in case of premature | |
| 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* | |
Head Office
SHRIRAM TRANSPORT FINANCE CO. LTD.
Wockhardt Towers, 3rd Floor, West Wing, G Block,
Bandra-Kurla Complex, Bandra (East), Mumbai - 400051.
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