There will be absolutely no changes for the existing deposits as the specific company's are obliged to pay the contracted rate till its maturity as per the current rules.The revised rates will apply only to fresh deposits and renewals made on or after the date from which the new rates are applicable.

The returns from Corporate FDs are added to your income and taxed according to the tax bracket your income falls in. For instance, if your income is Rs. 5 lakh and you get Rs. 1 lakh returns from an FD, your total taxable income becomes Rs. 6 lakh. Senior citizens however do get a tax deduction of up to Rs. 50,000 on the interest earned on the FD.

For the tax deducted at source, Tax deduction certificates in the prescribed Form 16A giving details of the tax remitted to the Govt. etc. will be sent on quarterly basis if the deposit is under quarterly scheme, half-yearly basis for deposit under half yearly scheme and at the end of the year in case of Yearly scheme and cumulative deposits. TDS certificate in Form 16A are generated quarterly on the basis of details provided in the quarterly TDS statement filed by the deductor of Tax in TIN (Tax Information Network). For deduction of tax at source, TDS certificate in Form 16A will be generated by the company through TIN central system and which is downloaded from TIN website with a unique TDS certificate number and shall be authenticated by using the digital signature.

In a cumulative FD, the interest amount is compounded over the deposit term and paid at maturity. Whereas, in a non-cumulative FD, the interest amount is payable on a monthly, quarterly, half-yearly, or yearly based on the tenure chosen. The point of differentiation between the two is the periodicity of interest payments.

Yes, a Trust may invest in our deposits. If the trust is not registered OR not willing to be registered in future, a letter duly signed by Authorized Signatories stating the Trust is not registered & not willing to be registered in future is required. Please note Shriram Finance Limited is not registered U/S 11(5) of income tax act, hence Charitable Trust may invest in the FD of the Company at THEIR OWN RISK.
Please also note that all Trust investments are not exempted under the Indian Income Tax Act, 1961. There are different types of Trusts. Private trusts shall be treated like any individual for accepting deposits in our Company.
Some Trusts get specific tax exemption/lower tax rate on investments applicable to our Company, so such specific exemption letter from the Income Tax Department is needed along with the investment.
However, Charitable Trusts are those which have to register themselves u/s -12AA of the Income tax Act 1961. The income of such trusts is completely exempt from income tax provided that they strictly comply with the provisions of Sections 11 to 13 of the Income tax Act. One of the conditions prescribed by the Act is in respect of the forms and modes of investing or depositing the funds as per Sec.11 (5).
Deposits and debentures of Shriram Finance Limited do not come under the various avenues of investment mentioned in Sec.11 (5). Any charitable trust which does not invest the funds in any form and mode mentioned in that Section will lose the exemption granted to them.

As the name suggests, a Corporate Fixed Deposit is an FD scheme offered by corporates. RBI has licensed select Non-Banking Financial Companies (NBFCs) to take deposits from the general public.
Just like regular FDs, Corporate FDs are also conservative investment options. The company may use your fund for its expansion activities or for lending to its borrowers, but the interest rate is fixed and not dependent on how the company performs in the stock market.
Opting for a corporate FD comes with certain risks as you could lose your money, including the interest earned, in case the company defaults. Hence, the risks associated with Corporate FDs are higher when compared to regular bank FDs. Therefore, it becomes imperative to research well about the company before investing.

Identity Proofs:

• PAN Card
• Aadhaar Card
• Passport
• Driving Licence

Address Proofs:

• Ration Card
• Aadhaar Card
• Passport
• Driving Licence

Additionally:
A couple of passport-sized photos are also required.

The minimum tenure for a company FD typically ranges from 7 days to one year, depending on the company’s policy.

The mode of interest payment for company FDs can be either monthly, quarterly, half-yearly, yearly, or at maturity, varying from company to company.

It is vital to look at the credit rating of the company offering the FD before choosing one. A better credit rating may indicate lesser risk.