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    Overview of KTDFC Fixed Deposit

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    Up to ₹1Cr
    7 Days to 5 Years
    8.25% - 8.75% Quarterly compounding
    Response Time Within 30 minutes

    About KTDFC

    The Kerala Transport Development Finance Corporation LTD (KTDFC) is a Non-Banking Financial Company registered under the Reserve Bank of India. KTDFC is fully owned by the government of Kerala and accepts deposits from the public. The deposits are guaranteed by the Government of Kerala, which ensures 100% security and extra earnings. KTDFC offers various loan products to suit the needs of every customer with low, diminishing EMI rates, hassle-free procedures and premature closure options ensuring more savings to its customers.

    What Fixed Deposit Schemes does KTDFC offer?

    KTDFC accepts fixed deposits under two schemes:

    • Periodic Interest Payment Scheme (PIPS)

      Under Periodic Interest Payment Scheme (PIPS), interest will be paid monthly or quarterly with monthly rests.

    • Money Multiplier Scheme (MMS)

      Under Money Multiplier Scheme (MMS), interest will be compounded monthly and paid on maturity.

    What is the maximum amount that can be deposited in a KTDFC FD account?

    For deposits under any scheme, the minimum amount accepted will be Rs 10,000 and in the multiples of Rs 1,000 subsequently.

    KTDFC accepts fixed deposits, the payment of which (Principal and Interest payable thereon) is fully guaranteed by Government of Kerala up to Rs 2,000 Crores, at present.

    What is the minimum / maximum period for which funds can be held in as fixed deposits with KTDFC?

    The minimum period of deposit is 1 year and maximum period is 5 years.

    What is the procedure to open a fixed deposit account at KTDFC?

    The different modes through which KTDFC receives an application for Fixed Deposit are as follows:

    • Applications submitted directly to different KTDFC offices.
    • Applications received through authorized fund arrangers/agents who were appointed by KTDFC.

    Cheques drawn in favour of Kerala Transport Development Finance Corporation Ltd, payable at Thiruvananthapuram can be deposited at HDFC / IDBI banks in any branches in India, through CMS facility as per the details given under:

    • If through HDFC Bank, use the following details :
      Client code : KTDEVFIN
      Client Name : Kerala Transport Development Finance Corporation Ltd
      Account No : 00630350000068
      Bank : HDFC Bank Vazhuthacaud, Thiruvananthapuram
      RTGS/IFS Code : HDFC0000063
    • If through IDBI Bank, use the following details :
      Client code : KTDEVFIN
      Client Name : Kerala Transport Development Finance Corporation Ltd
      Account No : 0046102000015604
      Bank : IDBI Bank Vazhuthacaud, Thiruvananthapuram
      RTGS/IFS Code : IBKL0000046

    Are FD accounts with KTDFC taxable?

    Income Tax will not be deducted up to interest of Rs.5,000 in a financial year exceeding which, forms 15G/15H will have to be produced.

    What are the main features of KTDFC fixed deposit schemes?

    • High interest rates of up to 12.91%
    • 0.25% additional interest for deposit of more than Rs 25 Lakhs.
    • 0.25% additional interest for senior citizens.
    • The deposit shall not be repaid before the expiry of 3 months from the date of deposit.
    • No lien on deposits will be recognised.
    • Fixed deposit may be in the names of not exceeding three joint applicants.
    • The fixed deposits are safe investment options, since they are guaranteed by the Government of Kerala.

    Are loans provided against FDs at KTDFC?

    Loans will be permitted only to individuals on deposits up to 75% of the deposit amount under both schemes. After the expiry of 3 months from the date of deposit, interest will be charged at 2% above the interest payable on such deposits

    Does KTDFC offer senior citizens special rates on their fixed deposits?

    The interest rates offered by KTDFC for senior citizens range from 8.75% to 9.00% over FD tenures of 1 to 5 years.

    Does KTDFC allow for premature withdrawals?

    In case of premature withdrawal after 3 months, interest shall be paid as follows:-

    • After 3 months but before 6 months from the date of deposit - No Interest.
    • After 6 months from the date of deposit but before the date of maturity - Interest will be paid @2% lower than the contracted interest rate.

    Can NRIs open a fixed deposit with KTDFC?

    Deposits from NRIs are not accepted.


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