Permanent biomedical implants pose several issues in long term scenarios like infections, inflammation, implant fracture, tissue damage, cancerous tumors formation, and skin allergies. Biodegradable biomedical implants are a new interest that function by degrading internally after achieving the implant goal. Shape memory alloys like Nitinol and Iron based shape memory alloys have applications in biomaterials due to the excellent property of super elasticity and shape memory effect respectively with the ease of small surgery requirement. To achieve biodegradability, the alloy composition is to be set while not compromising other properties such as biocompatibility, mechanical properties, shape memory properties, and magnetic properties. Slow corrosion rates of Fe-Mn alloys are reported and alloying addition, surface modifications, and novel manufacturing techniques are suggested to overcome this problem. In this study, the effect of addition of copper addition effect on the degradation behavior of Fe-30Mn-5Si is investigated. Austenite is the major phase present in both samples and small amounts of martensite are also present. For 10% copper, an additional copper rich phase is formed along the grain boundaries as it was beyond the solubility limit of iron matrix. The electrochemical corrosion test shows that 10% Cu addition resulted in 1.72 times higher corrosion rate than that of 5% Cu addition. As 5% Cu addition is within the solubility limit of iron matrix, and it forms a solid solution with iron that creates a passive layer during corrosion testing results in slower degradation.