Tamil Nadu State Government FD Schemes

TDFC offers two deposit schemes to its customers namely, Period Interest Payment Scheme (PIPS) and Money Multiplier Scheme (MMS).

Period Interest Payment Scheme (PIPS)

In Period Interest Payment Scheme (PIPS), the interest is paid on a monthly, quarterly, or yearly basis. The minimum deposit for this scheme is Rs.50,000.

Interest Rates of Period Interest Payment Scheme

Given below are the interest rates of the Period Interest Payment Scheme for the general public with effect from 10 August 2024:

Given below are the interest rates of the Period Interest Payment Scheme for senior citizens with effect from 10 August 2024:  

Given below are the interest rates of the Period Interest Payment Scheme for others (non-public or institutions) with effect from 10 August 2024: 

Money Multiplier Scheme (MMS)

In Money Multiplier Scheme (MMS), the interest is compounded on a quarterly basis at the appropriate rate and paid along with the principal at maturity.

The minimum deposit amount for this scheme is Rs.50,000 and the maximum deposit amount for this scheme is Rs. 5 crore.

Interest Rates of Money Multiplier Scheme

Given below are the interest rates of the Money Multiplier Scheme for the general public with effect from 10 August 2024:

Given below are the interest rates of the Money Multiplier Scheme for senior citizens with effect from 10 August 2024:

Given below are the interest rates of the Money Multiplier Scheme for others (non-individual or institutions) with effect from 10 August 2024

Documents Required for TDFC Fixed Deposit Schemes

To apply for a TDFC fixed deposit scheme, you have to download the application form in PDF format from the official website and take its printout. The completed form can be sent to TDFC or submitted to your nearest deposit collection centre.

Take a look at the documents required to open a new fixed deposit scheme:

1. A duly filled application form with your signature
2. Duly filled KYC form with signature across the photo
3. PAN card
4. Aadhaar card
5. Bank pass book's front page or cancelled cheque
6. Two sets of signed 15G/15H forms

The following documents are required to renew your deposit:

1. A duly filled renewal application form with your signature
2. PAN card
3. Original deposit receipt with your signature (back side)

Tamil Nadu Power Finance and Infrastructure Development Corporation Limited FD Schemes

Tamil Nadu Power Finance & Infrastructure Development Corporation Limited (TNPFC) functions as a non-banking finance company owned by the government of Tamil Nadu.

It offers two fixed deposit schemes namely, Non-Cumulative Fixed Deposit and Cumulative Fixed Deposit.

Cumulative Fixed Deposit (FD)

The features of Cumulative Fixed Deposit are as follows:

1. Attractive interest rates ranging from 6.75% p.a. to 7.75% p.a.
2. The minimum deposit amount is Rs. 1,00,000.
3. Multiple tenures ranging from 12 months to 60 months.
4. Additional 0.50% p.a. interest rates for senior citizens.
5. Loans can be availed against deposits.
6. A premature withdrawal facility is available.
7. The interest is compounded on a quarterly basis and paid at maturity.

Interest Rates of Cumulative Fixed Deposit

Given below are the interest rates of Cumulative Fixed Deposit:

Non Cumulative Fixed Deposit (FD)

The features of Cumulative Fixed Deposit are as follows:

1. Attractive interest rates ranging from 7.00% p.a. to 7.75% p.a.
2. The minimum deposit amount is Rs. 1,00,000.
3. The interest is paid on a monthly, quarterly, and yearly basis.
4. Multiple tenures ranging from 24 months to 60 months.
5. Additional 0.50% p.a. interest rates for senior citizens.
6. Loans can be availed against deposits.
7. A premature withdrawal facility is available.

Interest Rates of Non Cumulative Fixed Deposit (FD)

Given below are the interest rates of Non Cumulative Fixed Deposit:

Documents Required for TNPFC Fixed Deposit Schemes

The following documents are required to open a new fixed deposit scheme:

1. Photo
2. Cancelled bank cheque
3. Aadhaar card
4. PAN card