• Overview of KTDFC Fixed Deposit

    The Kerala Transport Development Finance Corporation LTD (KTDFC) is a Non-Banking Financial Company registered under the Reserve Bank of India and fully owned by the government of Kerala. The fixed deposit options offered by KTDFC are safe with guaranteed returns through attractive KTDFC FD interest rates.

    Features of KTDFC Fixed Deposit Schemes

    The following are the salient features of the KTDFC fixed deposit scheme:

    • 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.

    KTDFC Fixed Deposit Schemes

    KTDFC accepts fixed deposits under the following two schemes:

    • Periodic Interest Payment Scheme (PIPS): Interest will be paid monthly or quarterly with monthly rests.
    • Money Multiplier Scheme (MMS): Interest will be compounded monthly and paid on maturity.

    Details of Deposit Amount for KTDFC FD

    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.

    Investment Tenure of KTDFC FD

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

    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

    FAQs on KTDFC Fixed Deposit

    1. Are FD accounts with KTDFC taxable?

      Yes, the interest income from FD accounts is taxable under the law.

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

      Yes, KTDFC offers an additional 0.25% interest rate on fixed deposits for senior citizens.

    3. Are loans provided against FDs at KTDFC?

      Yes, loans are provided against FD but only up to 75% of the deposit amount under both KTDFC FD schemes after 3 months from the date of deposit with interest charged at 2% above the interest payable.

    4. Can NRIs open a fixed deposit with KTDFC?

      No, NRI fixed deposits are not offered by KTDFC.

    5. Are premature withdrawals allowed under KTDFC fixed deposits?

      Yes, premature withdrawals are allowed after 3 months and before 6 months of the date of deposit with no interest given. After 6 months but before the maturity date, premature withdrawals are permitted with interest being paid at 2% below the contracted interest rate.

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