KTDFC (Kerala State Road Transport Corporation) is a Kerala Government owned Non Banking Financial Company registered under the Reserve Bank of India. The main objectives of KTDFC are
- Finance Transport Vehicles, Workshops and Machinery
- Financial Arrangements for Acquisition of Transport Vehicles and Machinery
- Assist Transport Undertakings to get loans
Features and Benefits of KTDFC Fixed Deposit Scheme:
- Deposits are accepted under two Schemes, viz. Periodic Interest Payment Scheme (PIPS) and Money Multiplier Scheme (MMS)
- The fixed deposits are guaranteed by Govt of Kerala
- Minimum amount of deposit to be accepted is Rs. 10,000 and in multiple of Rs. 1,000 thereafter
- 0.25% additional interest for deposit of more than Rs 25 Lakhs
- 0.25% additional interest for Senior citizens
- Loan on deposit – Loans will be permitted only to individuals on deposits up to 75% of the deposit amount under both the schemes, after the expiry of 3 months from the date of deposit interest will be charged at 2% above the interest payable on such deposits.
- Income Tax will not be deducted up to interest Rs. 5,000 in a Financial Year
- Nomination facility available
- Premature withdrawal permissible as per the statutory guidelines and at the discretion of the company
Interest Rate of KTDFC Fixed Deposit Scheme:
Below interest rates are effective from August 18, 2011
Scheme A: Periodic Interest Payment Scheme (Interest Payable Monthly or Quarterly) | ||
Period (Years) | Minimum Deposit Amount (Rs) | Rate of Interest (p.a.) |
1 | 10,000 | 10.25% |
2 | 10,000 | 10.25% |
3 | 10,000 | 10.25% |
4 | 10,000 | 10.00% |
5 | 10,000 | 10.00% |
These rates are for general investors with deposit of less than Rs 25 Lakhs |
Scheme B: Money Multiplier Scheme (Interest compounded monthly) | ||||
Period (Years) | Minimum Deposit Amount (Rs) | Maturity Amount (Rs) | Rate of Interest (p.a.) | Effective Yield (p.a.) |
1 | 10,000 | 11,075 | 10.25% | 10.75% |
2 | 10,000 | 12,265 | 10.25% | 11.32% |
3 | 10,000 | 13,582 | 10.25% | 11.94% |
4 | 10,000 | 14,893 | 10.00% | 12.23% |
5 | 10,000 | 16,453 | 10.00% | 12.91% |
For more details download form below
Website: KTDFC Fixed Deposit Scheme
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can a punjab resident invest in kerala??
yes