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Check Out 3 Quick Steps to Open a Fixed Deposit Account with Shriram.

by Aravind Thakur Finance Analyst

An investor always aims to save and have a financially secure future. There is no better way to secure the future than opening a Fixed Deposit (FD) with one of the best NBFCs (Non-Banking Financial Companies) in India, Shriram. In the fixed deposit investment market, Shriram is considered one of the NBFCs that offers the highest interest rates of 8.40% for a fixed deposit. Opening an FD with Shriram is a 3-step simple process. It is about time to save big with Shriram and make a better & secure future.

A fixed deposit has always been a go-to investment option for investors. However, the investment market has changed drastically, where NBFCs are offering competitive interest rates for their fixed deposit accounts. Check out how to open an FD account online and offline to kick start your investment journey today.


Corporate Fixed Deposit

A corporate fixed deposit is a reliable investment tool offered by NBFCs to allow investors to save a considerable amount and grow their wealth quickly. It is a long-term savings scheme in which a lump sum of money is invested for a fixed tenure at an agreed-upon interest rate between the investor and NBFC. However, the tenure will be decided by the investor. The fixed interest rate will be determined by NBFCs depending on the tenure.

Besides, a corporate fixed deposit with NBFCs like Shriram would yield guaranteed and excellent returns because it offers the highest interest rate for an FD in India.


3 Quick Steps to Open a Fixed Deposit with Shriram

Shriram allows you to open a fixed deposit account online and offline. However, it is a must-known fact that the fixed deposit tenure is restricted to specific years when you open an FD offline and very flexible when you open an FD online. The table below shows the exact tenures available both online and offline.

Months

12

15

24

30

36

45

48

60

Online

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Yes

Offline

Yes

-       

Yes

-

Yes

-       

Yes

Yes

You can check and choose the best tenure according to your convenience and book Shriram’s Fixed Deposit. Let’s look into the three quick steps to Shriram Fixed Deposit account online using Shriram Website.

Step 1: Choose your most convenient scheme along with the investment amount and tenure.

Step 2: Complete your deposit using the internet banking facility offered by Shriram.

Step 3: Finally, fill in your KYC details, add nominee details and read the FD maturity instruction.


Fixed Deposit Account Opening - Online

Basically, there are two ways through which investors can open an FD account in 2022. Here is a guide that will help you.

Before the technological advancements, offline was the most hassle-free process to open an FD account. However, nowadays, opening an account online for a fixed deposit is simple and quick. However, before you open an account, use a fixed deposit calculator  to find your maturity amount quickly and the rate of interest offered according to your tenure by various NBFCs.


Let us now take a look at the online process.

  • Finalise the NBFC you are interested in opening an FD account and visit their website.
  • Use your existing login ID or create a new login ID.
  • Choose the option “Open Fixed Deposit Account” from the menu available in the customer portal.
  • Add mandatory details required to open an FD – Principal amount, Tenure and Nominee details.
  • Use net banking to pay the principal amount to the NBFC to confirm your fixed deposit opening.
  • Finally, download the Fixed Deposit Certificate and the receipt for your reference.

Fixed Deposit Account Opening – Offline

Opening an FD by walking into an NBFC branch is the most traditional process investors have followed. It allows them to know the process better and complete it swiftly. Even if you are a new or existing customer, the process of opening an FD office is the same.

  • Check with customer support staff about the various FD schemes offered by that particular NBFC.

  • Finalise and fill out the fixed deposit application form.

  • Submit identity and address proof to complete your KYC (Know Your Customer).

  • Once the bank verifies the KYC, you can deposit your amount in the fixed deposit account.

  • You must know that opening a fixed deposit account is easier than choosing the most reliable NBFC. So, take a  good amount of time to compare the interest rates and credit ratings and finalise your NBFC.


Important Documents Necessary to Open a Fixed Deposit Account

As discussed above, opening an FD account is simple, but only when you provide the necessary proof of identity and proof of address. Here is a list as follows;  

Proof of Communication Address:

  • Bank Statement with Cheque
  • Utility Bills (Telephone, Electricity, Post-Paid Mobile Phone, or Water Bill)
  • Post-Office Issued Identification Card or Certificate, etc.
  • Property Tax Bill

Proof of Identity:

  • Driving License Card
  • Voter ID Card
  • Aadhaar Card
  • Senior Citizen ID Card
  • PAN Card
  • Ration Card

Open an FD with Shriram Now!

Understanding the essential documents and the process involved in opening an FD account, you must now decide on the best NBFC. In 2022, Shriram leads the race amongst NBFCs by offering exceptional growth and secure savings. So, choose now and open an FD with Shriram today!


Key Highlights

  • It is always an aim for an investor to save and secure the future financially.

  • There is no better way to secure the future than opening a Fixed Deposit (FD) with one of the best NBFCs (Non-Banking Financial Companies) in India, Shriram.

  • Currently, in the fixed deposit investment market, Shriram is the NBFC/Company that offers the highest interest rate of 8.40% for a fixed deposit.

  • So open an FD with Shriram in 3 quick steps to save big and create a better future.



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About Aravind Thakur Junior   Finance Analyst

0 connections, 0 recommendations, 6 honor points.
Joined APSense since, July 21st, 2022, From Chennai, India.

Created on Jul 25th 2022 23:44. Viewed 302 times.

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