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Buy This Government Backed FD For Interest Rate Of Up To 8.77%
The Government of Tamil Nadu backed, TN Power Finance Infra Corporation is offering investors very good interest rates. In fact, for senior citizens the interest rates can go as high as 8.77% under the annual payment option and for non senior citizens the annual payout offers interest of 8.24%.
For non senior citizens – annual payout interest rates as on Jan 2, 2022
36-months | 48-months | 60-months | |
|---|---|---|---|
| Interest rates | 7.98% | 7.98% | 8.25% |
For non senior citizens - monthly interest payout as on Jan 2, 2022
36-months | 48-months | 60-months | |
|---|---|---|---|
| Interest rates | 7.75% | 7.75% | 8.00% |
For senior citizens – annual payout interest rates as on Jan 2, 2022
36-months - | 48-months - | 60-months - | |
|---|---|---|---|
| Interest rates | 8.51% | 8.51% | 8.77% |
For non senior citizens - monthly interest payout as on Jan 2, 2022
36-months - | 48-months - | 60-months - | |
|---|---|---|---|
| Interest rates | 8.25 | 8.25% | 8.50% |
Why you should invest in the fixed deposits of TN Power Finance?
At the moment, interest rates of as high as 8.77% for senior citizens is not available, forget from a government backed entity. We would like to inform our readers that awe have had first hand experience with these deposits. We were instantly issued our e receipt and we can view the same on the app. The company has a good ap, through which you can apply for the deposits and an e receipt is issued quickly after the amounts are cleared through net banking.
No company or bank deposits presently offer such high interest rates, making thees deposits very attractive. The TN Power Finance Infra Corporation also has a dedicated toll free number, where you can contact the company for assistance.
Cumulative deposit options for non senior citizens
For non senior citizens - cumulative deposit interest rates as on Jan 2, 2022
12-months - | 36-months - | 60-months - | |
|---|---|---|---|
| Interest rates | 7 | 7.75% | 8.00% |
The company also offers cumulative deposits for both senior and non senior citizens. The interest rates are mentioned above are for non senior citizens. You can add an extra 0.25% as interest rates for senior citizens,
We would like to once again remind depositors that is a state government backed entity and the chances of default are almost negligible. Investors can look to invest for a period of 3 to 5 years. Interest rates in the economy are unlikely to go up in a hurry and hence investors can look to invest for the long term, rather than a period of one or two years. Even a tenure of 5 years would be ideal.
