This Govt Company Offers FD Yields Of Up To 8.35%, Higher Interest For Senior Citizens

Fixed Deposits (FDs) are popular investment options for investors as they allow you invest your money for a fixed period and get returns at a fixed interest rate. It is worth noting that FD offers higher interest rate than the saving account and helps your grow your savings. Many private, public, and government backed companies offer competitive interest rate to citizens.

Also, several types of FDs are available to cater to the unique requirement of every citizen. These may include tax saving FD, senior citizens FD, Flexi FD, regular citizens FD, etc.

When you look for private banks, public banks and companies in the search of higher FD interest, one such company with Kerala government backing is offering high yield of 8.35%.

Kerala Transport Development Finance Corporation Ltd (KTDFC) is offering attractive interest rates on fixed deposits with cumulative annual yield at 8.35%. According to the website of KTDFC, "the fixed deposits guaranteed by government of Kerala. Repayment of deposits up to 4,500 crores with interest."

Check below the interest rate of KTDFC effective from July 15, 2022:

1. Deposits For General Citizens

It is worth noting that general citizens can opt for the FD for period ranging from 1-year tenure to 5 years tenure. They can fetch an interest rate of 7% for 1 year FD with an annual yield of 7.23%.

The highest tenure for FD is 5 years with interest rate at 6.75% and annual yield at 8%. For example, if general citizens deposit Rs 10,000 for a tenure of 5 years, the approximate maturity value will be Rs 14,001 upon maturity of your FD.

Period	Rate(p/a)	Approx.Maturity value for 10,000	Appoximate cumulative Annual Yield*
		under MMS*
1 year	7.00%	10,723	7.23%
2 years	7.00%	11,498	7.49%
3 years	7.00%	12,329	7.76%
4 years	6.75%	13,090	7.72%
5 years	6.75%	14,001	8.00%

2. Deposits For Senior Citizens

Senior citizens can also opt for 1-year FD to 5-years FD with KTDFC. Senior citizens can get the maximum interest rate of 7.25% for 1 year to 3 year FD tenure. The highest annual yield is 8.35%. If senior citizens deposit a sum of Rs 10,000 for 5-years tenure, the approximate maturity value will be Rs 14,176.

Period	Rate(p/a)	Approx.Maturity value for 10,000	Appoximate cumulative Annual Yield*
		under MMS*
1 year	7.25%	10,750	7.50%
2 years	7.25%	11,555	7.78%
3 years	7.25%	12,422	8.07%
4 years	7.00%	13,221	8.05%
5 years	7.00%	14,176	8.35%

3. About KTDFC

KTDFC is a renowned non-banking financial company that has been fully owned by the Government of Kerala. It has also secured a legal certificate of Registration issued by Reserve Bank of India (RBI). The leading non-banking finance company accepts deposits from citizens and offers attractive interest rates via Periodic Interest Scheme-Monthly (PIPSM), Periodic Interest Scheme-Quarterly (PIPSQ) and Money Multiplier Scheme (MMS).