Is it safe to invest in Tamilnadu Power Finance Corporation?

Tamilnadu Power Finance and Infrastructure Development Corporation (TNPFC) offers higher interest rates up to 8.77% and one can can get yield up to 10.46%. These FD’s are considered as safe as the entity is owned by Government of Tamilnadu.

Which bank is best for fixed deposit in Tamil Nadu?

List of 10 best FD schemes for 3 years

1. Fincare Small Finance Bank. Fincare offers attractive rates of interest on the 3-year tenure.
2. KTDFC. A lucrative rate of 6.00% p.a. is paid for term deposits opened for a period of 3 years.
3. Shriram City.
4. Mahindra Finance.
5. Sundaram Finance.
6. LVB.
7. ICICI Home Finance.
8. Yes Bank.

Which bank gives highest interest rate in Tamilnadu?

For 2-year tenure, one of the best highest interest rates are offered by Lakshmi Vilas Bank at 7.50% p.a. and then by Yes Bank at 7.50%. For 3-year and 4-year tenures, you earn the best RD interest rates with Lakshmi Vilas Bank at 7.50% p.a.

Is it safe to invest in Ktdfc?

1) KTDFC FD schemes are considered as safe as these are guaranteed by the Government of Kerala. However, they have fixed a threshold limit of Rs 4,500 Crores for such guarantee.

What is rips and CIPS?

TN Power Finance FD scheme is available in Regular Interest Payment Scheme (RIPS) and cumulative Interest payment scheme (CIPS) options. For regular interest payment scheme, Interest is compounded and paid, monthly, quarterly and Annually. For cumulative scheme, interest is payable at maturity.

Which bank FD rate is high 2020?

Axis Bank offers the highest FD interest rate of 5.75% p.a. which is for a tenure of 5 years and above for the general public. For senior citizens, the interest rate is up to 6.50%. The second highest interest rate is 5.50% p.a. which is offered by ICICI Bank and HDFC Bank for a tenure of 5 years and above.

What is the interest rate of Tamil Nadu Power Finance?

When bank fixed deposits decreases, as usual, senior citizens ignore credit risk and chase after “high return corporate FDs”. The latest craze, Tamil Nadu Power Finance Fixed Deposit offering up to 9.11% return on a 36 to 60-month deposit for senior citizens.

How much is Tamilnadu Power Finance and Infrastructure Development Corporation Limited?

It’s authorized share capital is INR 5,000.00 cr and the total paid-up capital is INR 3,367.00 cr. Tamilnadu Power Finance And Infrastructure Development Corporation Limited’s operating revenues range is Over INR 500 cr for the financial year ending on 31 March, 2019.

Can a senior citizen invest in Tamil Nadu Power Finance?

However, like most state governments, the TN govt is bankrupt due to the lockdown. Therefore this would be a case of the centre printing money (digitally, not literally) to aid the TN govt. Then the TN govt using it to aid TNEB and the TNPF. Can senior citizens invest in Tamil Nadu Power Finance Fixed Deposits?

Who is the owner of Tamil Nadu Power Board?

It is a Non-Banking Finance Company wholly owned by the Tamil Nadu Govt. It borrows money from the public via bonds and deposits and offers loans to only one company: Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) aka Tamil Nadu Electricity Board (TNEB).