Highest FD rate in India | Fixed deposit highest interest rate | TNPFCL Fixed Deposit

tnpfcl | Power Finance Corporation fixed deposit | TN Power Finance FD | Tamilnadu Power Finance interest rates 2022 |Fixed deposit highest interest rate | 

Are you frustrated with low Fixed Deposit Interest rates of Banks & Post Office ? You must be. After all the they really provide very poor interest rates in FD account. At present, the highest interest rate provided by SBI is 5.40% per annum for general account, whereas the highest interest rate provided by Post Office is 6.7% per annum. However, private banks provide slightly higher interest rates than banks & post office. But do you know there is a government organization which provides interest rate upto 8.77% per year. Yes, you read it right. Tamil Nadu Power Finance and Infrastructure Development Corporation Limited is providing this much interest rate in fixed deposit account. You already feeling very excited to know all the details of this Fixed Deposit Scheme. Isn’t it? Well, then without wasting time, let us discuss about the scheme. 

What is Tamil Nadu Power Finance and Infrastructure Development Corporation Limited (TNPFCL) ?

As per the official website of TNPFCL, it is a enterprise wholly owned by government of Tamil Nadu. It is registered with RBI as a Non Banking Finance Company vid Regn no. 7.00389 and Classified as a Hire Purchase Finance Company. It mobilizes funds through various attractive Deposit Schemes. It is headquartered in Tufidco-Powerfin Tower, 490/3-4,Anna Salai Nandanam, Chennai, Tamil Nadu-600035. At present TNPFCL has 11,16,890 number of deposits which is worth of 35,495 crore. 

Facilities provided by Tamil Nadu Power Finance and Infrastructure Development Corporation Limited (TNPFCL)

TNPFCL provides facilities for Fixed Deposit Account. In TNPFCL FD account a depositor can fixed a certain amount of money for the period of one year, two years, three years, four years, or five years. Depositors also have the privilege to take out the interest earned on monthly, quarterly or annual basis. The Fixed deposit accounts of TNPFCL are of two types – Cumulative & Non-Cumulative

• Cumulative: – In this case the interest would be quarterly compounded and paid on maturity.
• Non-Cumulative: – In this case, the interest would be paid monthly, quarterly or annually. On the maturity, you would get your investment back.

Fixed Deposit Interest rate in Tamil Nadu Power Finance and Infrastructure Development Corporation Limited (TNPFCL)

The interest rate in the Fixed Deposit (FD) account of TNPFCL is as below: – 

For Common Depositor: – 

For Cumulative Scheme – 

For Non-Cumulative Scheme – 

For Senior Citizens: –

For Cumulative Scheme – 

For Non-Cumulative Scheme – 

TNPFCL Fixed Deposit Return Calculator

If anybody deposits Rs. 1,00,000 in the Fixed Deposit Scheme of TNPFCL, he/she will get 1,48,594 after the maturity period of 05 years. That means a return of Rs. 48,594. It is really great. Isn’t it?

Minimum amount needed to open a TNPFCL FD Account

To open a Fixed Deposit account at Tamil Nadu Power Finance and Infrastructure Development Corporation Limited or TNPFCL, minimum amount to be deposited is Rs. 50,000. 

How to open a Tamil Nadu Power Finance and Infrastructure Development Corporation Limited (TNPFCL) Fixed Deposit Account ?

The TNPFCL Fixed Deposit can be opened online. Below the steps are mentioned: – 

Step I: – Click on the link to log in to the application page. 

Step II: – Click on the products option and choose cumulative/non cumulative as per your choice. 

Step III: – Enter the amount you want to deposit in your FD account and then click on ‘Apply for Fixed Deposit Account’.

Step IV: – Now, enter all the details – personal information, your address, Nominee details, Other details. 

Step V: – Complete the payment. 

Voila! Your TNPFCL Fixed Deposit account has been created. 

• You can also check the status of your payment by entering your PAN no. & transaction id in the following given link

Click here to know payment status of TNPFCL

• However, you can also open the TNPFCL Fixed Deposit account through their official mobile application.

Click here to download the TNPFCL android application

How to contact Tamil Nadu Power Finance and Infrastructure Development Corporation Limited (TNPFCL)

• For any queries/doubts, you can call TNPFCL office anytime between Monday-Friday, 10 AM to 3 PM. by dialing  044-46312345
• You can also reach them by sending message via Whatsapp to 044-66626705 
• Also you can write an email them to [email protected]

Conclusion

While saving or investing our hard-earned money, the safest and most common option we choose is a fixed deposit. However, the interest rates in FD are very poor these days. In these circumstances, the Fixed Deposit scheme of TNPFCL is obviously a better option to look into.  

We hope that you have liked this post. For any queries/doubts about this post or any financial matter, please let us know in the comment box or send an email to [email protected] and do share this post with others and let them know about this fascinating scheme. 

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