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This Kerala Govt Company Offers High Deposit Yields Of 6.98%

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Fixed Deposits (FDs) have emerged as one of the most popular investment options for investors with several banks and non-banking finance companies offering competitive interest rates. When you opt to invest your money in FDs, it helps you earn assured returns on your savings. There are various types of FDs available to cater to the various requirements of citizens.

 

It may include normal fixed deposit, tax saving deposits, senior citizen fixed deposits, non-cumulative fix deposit, flexi fixed deposit, etc. When you open an FD account, you allow your savings to grow for a period that may differ from banks to banks. One such government company that is offering attractive returns on your saving is Kerala Transport Development Finance Corporation Limited (KTDFC).

1. Deposits for citizens

1. Deposits for citizens

Deposit for citizens will offer an approximate cumulative annual yield of 6.64% for 5-year tenure. The approximate maturity value of Rs 10,000 under MMS will be 13322 at an annual yield of 6.64%. You can check interest rates on fixed deposits of KTDFC effective from January 1, 2021 in the table given below:

PeriodRate(p/a)Approx.Maturity value for 10,000Appoximate cumulative Annual Yield*
  under MMS* 
1 year6.00%10,6176.17%
2 years6.00%11,2726.36%
3 years6.00%11,9676.56%
4 years5.75%12,5796.45%
5 years5.75%13,3226.64%
2. Deposits for senior citizens
 

2. Deposits for senior citizens

Deposits for senior citizens will fetch an additional interest rate. The approximate maturity value of Rs 10,000 under MMS will be Rs 10643 for one-year tenure at 6.25% p.a. interest rate. The amount will become Rs 13,489 in 5 years tenure with an attractive annual yield of 6.98%. In the table below, you can check interest rates on fixed deposits of KTDFC effective from January 1, 2021:

PeriodRate(p/a)Approx.Maturity value for 10,000Appoximate cumulative Annual Yield*
  under MMS* 
1 year6.25%10,6436.43%
2 years6.25%11,3286.64%
3 years6.25%12,0566.85%
4 years6.00%12,7056.76%
5 years6.00%13,4896.98%
3. About KTDFC

3. About KTDFC

It is a leading non-banking financial company that has been fully owned by the Kerala Government. It has also secured a legal certificate of Registration issued by Reserve Bank of India (RBI). The 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). It is worth mentioning that citizens' deposits have been guaranteed by Kerala Government and therefore they get 100% security and additional earnings. Under PIPS scheme, interest will be paid Monthly or Quarterly with monthly rests while under money multiplier scheme (mms), interest will be compounded monthly and paid on maturity to the citizens. When you invest your money with KTDFC your fixed deposits are guaranteed by Kerala Government. KTDFC offers repayment of deposits up to Rs 4.500 crores with guaranteed interest.

Story first published: Tuesday, May 24, 2022, 12:17 [IST]
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