TNSC Bank FD Rates
Tamil Nadu State Apex Co-operative Bank (TNSC) offers Fixed Deposits (FD) with 3.50% p.a. to 7.75% p.a. interest rates to the general public and 3.50% p.a. to 8.00% p.a. interest rates to senior citizens 3.75% p.a. to 8.00% p.a. interest rates to the differently challenged persons on a range of tenors.
The rate of interest is 7.00% p.a. for the general public and senior citizen depositors for a tenor of 5 years and above.
Features & Benefits
- It is a callable fixed deposit that can be opened by an individual, on a joint basis, or by an organization.
- A minor with a natural guardian can also open an FD.
- The FD is set at a minimum deposit of Rs.1,000 for a minimum 15 days lock in period.
- The interest will be paid on a monthly, quarterly, half-yearly, and annual basis for FDs with a maturity of one year or more.
- You can avail of a loan against the FD.
- You can also enable a nominee for the FD.
TNSC Bank Interest Rates
Tenure | Rate of Interest for General Public | Rate of Interest Rates for Senior Citizens | Rate of Interest Rates for Differently Challenged Persons |
7 days to less than 15 days | 3.50% p.a. | 3.50% p.a. | 3.75% p.a. |
15 days to less than 30 days | 4.00% p.a. | 4.00% p.a. | 4.25% p.a. |
30 days to less than 46 days | 4.50% p.a. | 4.50% p.a. | 4.75% p.a. |
46 days to less than 91 days | 5.50% p.a. | 5.50% p.a. | 5.75% p.a. |
91 days to less than 120 days | 5.75% p.a. | 5.75% p.a. | 6.00% p.a. |
120 days to less than 180 days | 6.00% p.a. | 6.00% p.a. | 6.25% p.a. |
180 days to less than 271 days | 6.50% p.a. | 6.50% p.a. | 6.75% p.a. |
271 days to less than 365 days | 6.75% p.a. | 6.75% p.a. | 7.00% p.a. |
12 months to less than 24 months | 7.40% p.a. | 7.65% p.a. | 7.65% p.a. |
24 months to less than 36 months | 7.00% p.a. | 7.25% p.a. | 7.25% p.a. |
36 months and above | 6.75% p.a. | 7.00% p.a. | 7.00% p.a. |
Tax Benefit Deposits | 7.00% p.a. | 7.00% p.a. | 7.00% p.a. |
444 days | 7.75% p.a. | 8.00% p.a. | 8.00% p.a. |
TNSC BANK Tax Benefit Deposit Scheme
Minimum and Maximum Investment per year | Rs.1,000 to Rs.1,00,000 |
Tenor | Minimum 60 months to maximum 120 months |
Rate of Interest | Same as terms deposits of 5 years and above |
Payment of Interest | As applicable on FDs with maturity of 5 years and above |
Loans | Cannot avail a loan |
Senior Citizens | Gain higher rate of interest than general public |
FAQs on TNSC Bank Fixed Deposit
- How to open a fixed deposit at TNSC Bank?
You have to visit your nearest TNSC Bank branch and fill out the application to open a fixed deposit.
- How to claim a fixed deposit after maturity?
To claim the FD, you have to visit the bank’s branch office, where you have a fixed deposit account and submit the deposit certificate to confirm its maturity.
- How is TNSC Bank Fixed Deposit different from TNSC Bank Tax Benefit Deposit?
The fixed deposit has a minimum 15 days maturity period, whereas the tax benefit deposit has a minimum five years of maturity period.
- Does TNSC Bank offer deposits to NRIs?
TNSC Bank has NRE and NRO deposit options for NRIs.
- Is fixed deposit tax-free after maturity?
Income tax is applicable on the interest income from the fixed deposits even after maturity.
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