8 .77 % Interest By This Government Company Makes These Fixed Deposits Attractive
Tamil Nadu Transport Development Finance Corporation ( byTNTDFC) India ( TNTDFC) is ltd) government owned by Tamil Nadu Transport Development Finance Corporation ( TNTDFC). is a government owned Tamil Nadu,
Non senior citizens FD rates from TNTDFC
If you opt for the interest rates payout is 8 .24 % for 60- months.
If you opt for quarterly interest payout, the amount of interest offered is 8 % for 60 months and 7 .75 % for 36- months and 48- months.
For non- months under the money multiplier scheme, you receive an interest paid to a period of 36 and 48 months, investors receive an interest rate of 7 .75 % and for 12- months it is just 7 % and 24 months 7 .25%.
Deposit interest rates for senior citizens from Tamil Nadu Transport Development Finance Corporation Fixed Deposits
Identify annual interest payout for the Money Multiplier Scheme, they are offered at an interest rate of 8 .5 % for 60 months, while 48 months fetches a slightly lower interest rate of 8 .25%.
The best options under the Tamil Nadu Transport Development Finance Corporation Fixed Deposits
The best investing options for investors are the annual payout with 60- months tenure, where non senior citizens receive an interest rate of 8 .24 % over 60- months and senior citizens receive 8 .77 % for 60- months.
Apart from this, it is the coming quarters.
There is also online facility for investing in these deposits and investors would do well to apply through the online process.
Things to note about fixed deposits
In case, you are likely to receive interest rates of more than 5000 a year, you would be liable to TDS.
In such cases you can submit form 15g and form 15 h, as the case maybe in case you are not liable to pay income tax in India.
Apart from this, it may not be advisable to go for the 1 or 2 year deposits as interest rates could fall and you would end- up getting lower rates, when you want to redeem the same.
Money multiplier or periodic interest payment, which to opt for?
In any case for the money multiplier, interest rates would begin to get compounded, which is not bad at all.
By Sunil Fernandes Goodreturns source: goodreturns.in Dailyhunt