TNPFIDCL FD Interest Rates

Non-cumulative Deposit Interest Rates for Residents and Non-residents

Tenure	Interest rates (p.a.)
	Regular rates	Senior citizen rates
24 months	8.25%	8.40%
36 months	8.30%	8.50%
48 months	8.10%	8.25%
60 months	8.10%	8.25%

Comparison of Top 20 Scheduled Banks based on FD Rates

 

Types of TNPFIDCL Fixed Deposit

Cumulative Fixed Deposit

• Minimum amount: Rs 2 lakh and thereafter in multiples of Re 1
• Maximum amount: Rs 5 crore
• Minimum tenure: 1 year (for residents and non-residents)
• Maximum tenure:
  • Up to 5 years for residents
  • Up to 3 years for non-residents
• Minimum age: 18 years
• Interest payout: At maturity
• Deposit proceeds would be transferred to the bank details provided by the depositor through RTGS/ECS/NEFT or a cheque, if requested by the depositor.
• Eligibility: Individuals and institutions

Non-cumulative Fixed Deposit

• Minimum amount: Rs 2 lakh and thereafter in multiples of Rs 1,000
• Maximum amount: Rs 5 crore
• Minimum tenure: 2 years (for residents and non-residents)
• Maximum tenure:
  • Up to 5 years for residents
  • Up to 3 years for non-residents
• Minimum age: 18 years
• Interest payout:
  • For FD tenure of 2 years: Quarterly
  • For FD tenure of 3 to 5 years: Monthly/ Quarterly/ Annually
• Interest on fixed deposit will be paid through ECS and NEFT
• Deposit proceeds would be transferred to the bank details provided by the depositor through RTGS/ECS/NEFT or a cheque, if requested by the depositor.

Documents Required for TNPFIDCL Fixed Deposit

For individuals

• Photo
• PAN Card
• Aadhaar Card
• Cancelled bank cheque

For institutions

• Registration certificate
• Address proof
• Authorised signatory proof
• Authorization letter
• Cancelled bank cheque

If depositor chooses to have an address different from the address mentioned on the adhaar card, the following documents will be required for address proof:

• Passport
• Voter ID
• Driving licence
• Ration card
• Telephone bill (not older than three months)
• Bank Account Statement of a Scheduled bank
• Electricity bill (not older than three months)
• Water bill (not older than three months)
• Certificate of address having Photo issued by MP/MLA/Group-A Gazetted Officer in letter head
• Certificate of address with photo from Govt. recognized educational institutions (for students only)

Premature Withdrawal on TNPFIDCL Deposit

Premature withdrawal of deposits is not allowed within 3 months from the date of deposits. However, in case of a depositor’s death, premature withdrawal is allowed within 3 months without interest.

Interest for premature withdrawal of deposit after 3 months but before date of maturity including in the event of death of depositor will be regulated as follows:

• No interest will be paid on deposits closed after 3 months but before the expiry of 6 months.
• Interest of 3% p.a. less than the rate applicable for 12 months will be paid for deposits closed after 6 months from the date of deposit but before 12 months.
• Interest of 2% p.a. less than the applicable interest rate for 12 months will be paid for deposits closed after 12 months from the deposit date but before 24 months.
• Interest of 2% p.a. less than the applicable interest rate for 24 months will be paid for deposits closed after 24 months from the deposit date but before 36 months.
• Interest of 2% p.a. less than the applicable interest rate for 36 months will be paid for deposits closed after 36 months from the date of deposit but before the date of maturity.
• One month notice to the NBFC is required for premature withdrawal of deposits exceeding Rs 1 crore.
• Notice of 15 days is required for premature withdrawal of deposits of less than Rs 1 crore.
• For premature withdrawal of deposits held in joint names, the surviving depositors are required to submit a requisition letter.

Loan against TNPFIDCL Fixed Deposit

Depositors can avail loan against FD facility for up to to 70% of the deposit amount, after 3 months from the deposit date at an interest rate of 2% above the interest payable on deposits.