KVB Reinvestment Plans is an FD that facilitates long-term planning for specific goals related to milestones in your children's lives, such as their education or a wedding. It is also called Tirumagal Tirumana Thittam (TTT). The investment tenure ranges from six months to 20 years. The interest rate ranges from 4.75% p.a. to 5.75% p.a. for a deposit of less than Rs.2 crore.
KVB Reinvestment Plans have the following features:
The following entities are eligible to open a KVB Reinvestment Plan:
The interest rate for KVB Reinvestment Plans is as given below for deposits less than Rs.2 crore:
|Tenure||Interest Rate (p.a.) *|
|181 days to 270 days||4.75%|
|271 days to less than one year||5.00%|
|1 year to less than 2 years||5.50%|
|2 years to less than 3 years||5.50%|
|3 years to less than 5 years||5.65%|
|5 years and above||5.75%|
*These interest rates are effective from 1 June 2021 and are liable to change as per the bank's policies
KVB Reinvestment Plans does not have a maximum limit on investment.
Yes, TDS on the reinvestment of interest is applicable in the case of KVB Reinvestment Plans.
You can apply for the KVB Reinvestment Plans either on the bank's official website or by visiting the bank's nearest branch.
Yes, there is a pre-closure penalty of 1% from the applicable rate of interest for deposits of less than Rs.2 crore. For deposits above Rs.2 crore, the pre-closure penalty will be disclosed by the bank.
No, there is no additional rate of interest offered to senior citizens under the KVB Reinvestment Plan.
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