Tamil Nadu Power Finance and infrastructure Development

Tamil Nadu Power Finance and infrastructure Development
Corporation Limited

Highlights

Interest compounded monthly.
FA+ rating by CRISIL.
Nomination facility is available. There should be only one nominee.
Interest payments are made by Interest Warrants payable at par or by means of Bank Drafts.
Interest earned on deposits upto Rs 9,000/- is eligible for deduction under Section 80L of the Income Tax Act.
Interest earned by Charitable Trust is exempted under Income Tax Act Vide Section 11 (5) (vii).
Loans may be granted by the Corporation upto 75% oft the deposit amount after 3 months from the date of receipt of deposit.
Premature withdrawal is available as per prevailing RBI guidelines.

Schemes

Regular Interest Paying Scheme
Period	Rate of Int % pa if paid		Max Deposit without TDS
Period	Monthly	Quarterly	Max Deposit without TDS
12 months	-	10.08	24,000/-
24 months	-	10.59	23,000/-
36 months	11.50	11.61	21,000/-
48 months	11.50	11.61	21,000/-
60 months	11.50	11.61	21,000/-

* Minimum Deposit Rs 10,000/-
* Further deposits in Multiples of Rs 1,000/-

Cumulative Interest Payment Scheme - I
Period	Maturity Value for Rs 5,000/- (Rs)	Effective Yield pa (%)	Max Deposit without TDS
12 months	5525/-	10.50	23,000/-
24 months	6165/-	11.65	20,000/-
36 months	7050/-	13.67	16,000/-
48 months	7905/-	14.53	14,000/-
60 months	8860/-	15.44	13,000/-

* Minimum Deposit Rs 5,000/-
* Further deposits in Multiples of Rs 1/-

Cumulative Interest Payment Scheme - II
Period	Maturity Value (Rs)	Effective Yield pa (%)	Max Deposit without TDS (Rs)
60 months	1000/-	15.44	12,972/-

* Minimum Deposit Rs 564/-
* Further deposits in Multiples of Rs 564/-

About the Company

Incorporated in 1991.
Businesses carried on by the company are hire purchase, lease finance, term loan and other forms of financial assistance for those engaged in generation,transmission and distribution of power and infrastructure development.