ICICIdirect.com the trading portal from ICICI bank offers unique opportunity to invest in stocks, mutual funds and what not. Now, it is possible to invest in safe instruments like fixed deposits. Though not administered by government federated banks, Shriram transport Fixed Deposits are AA+ rated fixed income instruments that can be easily purchased through icicidirect.com
Here are some interesting features of Shriram Transport Fixed Deposits:
1) Attractive interest rates
2) Can be renewed online
3) TDS exemption available
4) Flexible tenure deposits available from 12 months to 60 months
5) Additional Interest Rate for Senior Citizens
6) Auto Credit of Interest & Maturity Proceeds. This is totally automated and we don't have to keep track of it
7) Premature Withdrawal Facility possible
8) Regular Interest Payout & Cumulative Option depending on option chosen during opening of deposits
9) Online Nomination Facility to choose your nominee
10) Loan against FD Facility as with many banks like SBI. Interest rates will be .5% to 1% more than interest rate currently running on deposits
Here is the interest rate table
Period
(Months) Non Cumulative Scheme Cumulative Scheme*
Yearly Half Yearly Quarterly Monthly Interest (p.a.) Yield
12 9.25% 9.05% 8.95% 8.88% 9.25% 9.25%
24 9.75% 9.52% 9.41% 9.34% 9.75% 10.23%
36 10.50% 10.24% 10.11% 10.03% 10.50% 11.65%
48 10.50% 10.24% 10.11% 10.03% 10.50% 12.28%
60 10.50% 10.24% 10.11% 10.03% 10.50% 12.96%
Here are some interesting features of Shriram Transport Fixed Deposits:
1) Attractive interest rates
2) Can be renewed online
3) TDS exemption available
4) Flexible tenure deposits available from 12 months to 60 months
5) Additional Interest Rate for Senior Citizens
6) Auto Credit of Interest & Maturity Proceeds. This is totally automated and we don't have to keep track of it
7) Premature Withdrawal Facility possible
8) Regular Interest Payout & Cumulative Option depending on option chosen during opening of deposits
9) Online Nomination Facility to choose your nominee
10) Loan against FD Facility as with many banks like SBI. Interest rates will be .5% to 1% more than interest rate currently running on deposits
Here is the interest rate table
Period
(Months) Non Cumulative Scheme Cumulative Scheme*
Yearly Half Yearly Quarterly Monthly Interest (p.a.) Yield
12 9.25% 9.05% 8.95% 8.88% 9.25% 9.25%
24 9.75% 9.52% 9.41% 9.34% 9.75% 10.23%
36 10.50% 10.24% 10.11% 10.03% 10.50% 11.65%
48 10.50% 10.24% 10.11% 10.03% 10.50% 12.28%
60 10.50% 10.24% 10.11% 10.03% 10.50% 12.96%
