Click it and Unblock the Notifications
Fixed Deposit investors can find competitive interest rates from a variety of private, public, and government-backed entities. In the recent past, FDs have become competitive due to rising FD rates. Among various banks and Non-Banking Financial Companies (NBFCs), there are few NBFCs that are backed by the Central or state government that offer high-interest rates on FD to customers.
Among several NBFCs that offers high interest rates on FDs, we have picked 3 NBFCs backed by Tamil Nadu & Kerala state governments. These 3 NBFCs are Tamil Nadu Transport Development Finance Corporation Ltd. (TNTDFC), Tamil Nadu Power Finance & Infrastructure Development Corporation Ltd. (TNPFIDC), and Kerala Transport Development Finance Corporation Ltd. (KTDFC). Since all three NBFCS are backed by State Governments, default chances are less.
Tamil Nadu Transport Development Finance Corporation (TNTDFC)
TNTDFC is a Tamil Nadu government-undertaking NBFC that offers FD to its customers. The FD interest rates offered by the TNTDFC are between 7.50% to 8.24% for Non-Senior citizens with the maturity period of 12 Months to 60 Months. It offers two types of deposit schemes, which are the Periodic Interest Payment Scheme (PIPS) and the Monthly Multiplier Scheme (MMS). Senior citizens above age 58 will get additional interest rates over the non-senior citizens' FD rates. To subscribe to the FD, a minimum of Rs 50,000 is required and thereafter in multiples of Rs 1000.
Interest Rates - Periodic Interest Payment Scheme (PIPS)
| Period | Monthly | Quarterly | Yearly | |||
|---|---|---|---|---|---|---|
| Months | Non-Senior Citizens Rates (%) | Senior Citizen Interest (%) | Non-Senior Citizens Rates (%) | Senior Citizen Interest (%) | Non-Senior Citizens Rates (%) | Senior Citizen Interest (%) |
| 24 | -- | -- | 7.60% | 7.85% | -- | -- |
| 36 | 7.75% | 8.00% | 7.75% | 8.00% | 7.98% | 8.24% |
| 48 | 8.00% | 8.25% | 8.00% | 8.25% | 8.24% | 8.51% |
| 60 | 8.00% | 8.25% | 8.00% | 8.25% | 8.24% | 8.51% |
Interest Rates- Monthly Multiplier Scheme (MMS)
| Months | Non-Senior Citizens Rates (%) | Senior Citizen Interest (%) |
|---|---|---|
| 12 | 7.50% | 7.75% |
| 24 | 7.60% | 7.85% |
| 36 | 7.75% | 8.00% |
| 48 | 8.00% | 8.25% |
| 60 | 8.00% | 8.25% |
Source - online.tdfc.in
Tamil Nadu Power Finance & Infrastructure Development Corporation (TNPFIDC)
TNPFIDC is an RBI registered NBFC, wholly owned by the Tamil Nadu Government. TNPFIDC offers FD with 12 months to 60 months tenure under Cumulative & Non-Cumulative deposit options.
Under the Cumulative option, it offers a minimum 6.75% to a maximum 7.75% to non-senior citizens. While under the non-cumulative option, it offers deposits with monthly interest payments, Quarterly interest payments and yearly interest payment options.
Senior citizens to get additional interest rates under cumulative & Non-Cumulative deposits. To book FD in TNPFIDC, you need a minimum of Rs 2,00,000 and in multiples of Rs 1,000.
Cumulative Deposit Scheme Interest Rates
| Period (Month) | Non-Senior Citizens Rates (%) | Senior Citizen Interest (%) |
|---|---|---|
| 12 | 6.75 | 7 |
| 24 | 7 | 7.25 |
| 36 | 7.5 | 8 |
| 48 | 7.5 | 8 |
| 60 | 7.75 | 8.25 |
Non-Cumulative Deposit Scheme Interest Rates
| Period | Monthly | Quarterly | Yearly | |||
|---|---|---|---|---|---|---|
| Month | Non-Senior Citizens Rates (%) | Senior Citizen Interest (%) | Non-Senior Citizens Rates (%) | Senior Citizen Interest (%) | Non-Senior Citizens Rates (%) | Senior Citizen Interest (%) |
| 24 | -- | -- | 7 | 7.25 | -- | -- |
| 36 | 7.5 | 8 | 7.5 | 8 | 7.71 | 8.24 |
| 48 | 7.5 | 8 | 7.5 | 8 | 7.71 | 8.24 |
| 60 | 7.75 | 8.25 | 7.75 | 8.25 | 7.98 | 8.51 |
Source - tnpowerfinance.com
Kerala Transport Development Finance Corporation (KTDFC)
Backed by the Kerala government, KTDFC offers FD for non-Senior Citizens & Senior citizens for a deposit period of 1 Year to 5 years. It provides interest rates between 6.75% p.a. to 7% p.a. to non-senior citizens and 7% to 7.25% to senior citizens. According to the KTDFC's official website, "the fixed deposits guaranteed by the government of Kerala. Repayment of deposits up to 4,500 crores with interest."
Interest rate on Fixed Deposits of KTDFC with effect from 15th July 2022
| Period | Non-Senior Citizens Rates (p/a) | Senior Citizens Rate (p/a) |
|---|---|---|
| 1 year | 7.00% | 7.25% |
| 2 years | 7.00% | 7.25% |
| 3 years | 7.00% | 7.25% |
| 4 years | 6.75% | 7.00% |
| 5 years | 6.75% | 7.00% |
Source - ktdfc.kerala.gov.in
More From GoodReturns
LPG Gas Cylinder Prices Hiked Again From April 1; 19 KG LPG Gets Costlier By Rs 218; 14.2 KG LPG Unchanged
Gold Rate in India Rises Over Rs 37,000/24K in Three Days; Will Jump in Gold Price Today Continue on 31 March?
Gas Cylinder Booking Rules: 5 Things To Know For Your 14.2Kg, 19KG, 5KG, 10KG LPG Booking In April 2026
Bank Holiday In April 2026: Banks To Be Closed For 14 Days; Good Friday, Baisakhi To Akshaya Tritiya
Gold Price Today Declines After 3-Day Surge; Check Latest 22K, 24K, 18K Gold & Silver Rates in Delhi on 2April
Gold Price Today, April 3: 22K, 24K Rates Jump Across Tanishq, Malabar, Kalyan & Joyalukkas & IBJA
5 New Shares On One Soon: Anil Agarwal's Vedanta Demerger To Take Place in April, Says Report
Fresh Drop in Gold Rate Today; Silver Stable: Latest 22K, 24K, 18K Gold & Silver Prices in Delhi on 30 March
Govt Approves PDS Kerosene Distribution in 21 States for 60 Days, Sets 5,000 L Storage Limit Amid LPG Crisis
Hyderabad Gold Rates Today Crash By Rs 40,000 After 6 Days, Silver Rate Falls By Rs 10,000: 24K, 22K, 18k Gold
Gold Rate in India After 20% Slide from Record Highs; Will Gold Price Today Jump to Rs 1.50 Lakh on 30 March?
Sign in with Google