Talbros Automotive Components Ltd is a renowned name in its own industry. It has opened its doors to its fixed deposit scheme allowing people to make guaranteed investments with reasonably high interest rates. But that is not all that is to the fixed deposit from the company. The procedure of application and payments are simple and rewarding at the same time. It is as simple as the product sounds and is an effective way to save at the same time. Take a look at its features and benefits, eligibility requirements as well as get some common questions answered through the FAQs section.
Types of Schemes available from Talbros Automotive Components Ltd.
There are two types of schemes available from Talbros Automotive Components Ltd. Other than the difference of calculation, they also have different interest rate ranges:
- Cumulative scheme: This scheme offers opportunities to earn interest ranging between 9.84% to a whopping 12.83%.
- Non-cumulative scheme: These schemes allow people to earn interest rates between the ranges of 9.50% to 11%.
Eligibility Criteria for Applying for the Fixed Deposit Scheme at Talbros Automotive Components Ltd.
- The individual is expected to be an Indian citizen and if not, they would require the relevant documents such as identity proofs or working visas for the same.
- He or she should also is expected to at least 18 years of age to be able to hold a bank account.
- The minimum amount that should be deposited can be no lesser than Rs. 10,000 for both the schemes.
Talbros Fixed Deposit Features and Benefits
Here are the main features and benefits of Talbros Fixed deposit Schemes:
- Minimum amount that can be deposited for both the cumulative and non-cumulative schemes is Rs.10, 000/- and thereon higher amounts may be multiples of Rs.1, 000/-.
- Interest on quarterly Income Scheme is paid quarterly on the following dates: January 1, April 1, July 1 and October 1 for non- cumulative scheme.
- The other terms and conditions are based on the Company's prescribed application forms which are available from the Registered Office of the Company and its Authorized Brokers.
- Partial withdrawal is permissible but only under the sole discretion of the company.
- Nominations are allowed for the fixed deposits.
How to Apply for Talbros Automotive Components Ltd. Fixed Deposits
You simply need to follow the steps mentioned:
- Download the application form from the company portal.
- Fill up the form and gather the required documents such as identity proof, address proof, etc.
- Submit the form at any of the branches or offices mentioned in the application form.
FAQs on Talbros Automotive Components Ltd. Fixed Deposit Schemes
- What is the minimum amount that can be deposited?
The minimum amount for depositing for this schemes is Rs. 10,000.
- What are the tenures for the fixed deposit schemes?
You can choose between 1, 2 and 3 years of tenure for these fixed deposit schemes.
- Can I minor be nominated for this fixed deposited?
Yes, it is possible however he or she has to be an Indian resident and the guardian’s information of contact must be provided with the bank.
- Can NRIs be nominated for the Talbros Automotive Components Ltd. Fixed Deposit scheme?
No, this is not possible at any given time since an Indian resident is a minimal requirement for nomination.
- Are the Interests tax exempted?
No, but the taxes are deducted at source hence the individual does not have to take the rouble separately to pay it.