Tamil Nadu Grama Bank FD Interest Rates

Tamil Nadu Grama Bank is an associate of the Indian Bank that has more than 630 branches all across the state of Tamil Nadu. A fixed deposit account is an account where you deposit a particular sum of money in the bank for a particular period and earn a fixed rate of interest on it. One can easily open a fixed deposit account to start the investment.

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Features of IDFC Bank Fixed Deposit

Investment Amount  Minimum - Rs.10,000 Maximum- No Maximum Limit
Tenure  Minimum - 7 daysMaximum- 10 Years
Interest Rate  Minimum - 4.00 %Maximum- 8.00%

Compare FD Interest Rates of Top Financial Institutions
BANKS GENERAL CITIZENS SENIOR CITIZEN
Axis Bank FD Rates 2.50% - 5.75% 2.50% - 6.50%
Bandhan Bank FD Rates 3.00% - 5.00% 3.75% - 5.75%
Bank of Baroda FD Rates 2.80% - 5.25% 3.30% - 6.25%
Bank of India FD Rates 2.85% - 5.05% 3.35% - 5.55%
Canara Bank FD Rates 2.90% - 5.40% 2.90% - 5.90%
Central Bank of India FD Rates 2.75% - 5.00% 2.90% - 3.25%
DBS Bank FD Rates 2.50% - 5.50% 3.50% - 6.00%
HDFC Bank FD Rates 2.50% - 5.60% 3.00% - 6.35%
IDFC Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Indian Bank FD Rates 2.90% - 5.15% 3.40% - 5.65%
Indian Overseas Bank FD Rates 3.40% - 5.20% 3.90% - 5.70%
IndusInd Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Punjab National Bank FD Rates 2.90% - 5.25% 3.50% - 5.75%
SBI FD Rates 5.30% - 5.40% 5.80% - 6.20%
UCO Bank FD Rates 2.55% - 5.05% 3.80% - 6.30%
Yes Bank FD Rates 3.25% - 6.25% 3.75% - 7.25%
Show More

The fixed deposit plan offered by Tamil Nadu Grama Bank is available for all the general public, which includes individuals, NRIs, minors, proprietary firms, LLP firms, partnership firms, a company, and even trusts. 

Tamil Nadu Grama Bank Fixed Deposit Rates 2023

The Tamil Nadu Grama Bank fixed deposit facility is open for the general public who can open an account with just Rs. 100. There is no maximum amount limit for deposit. The more you invest, the higher the FD interest rate will be.

Here are the fixed deposit interest rates for various deposit tenures:

Period Below Rs.1 Cr
15 days to 29 days 3.50%
30 days to 45 days 3.50%
46 days to 90 days 4.00%
91 days to 180 days 4.50%
181 days to 1 year 5.00%
1Yr to less than 2Yr 5.75%
2Yr to less than 3Yr 5.65%
3Yr to less than 5Yr 5.65%
5Yr and above 5.65%
Tax Saver(Upto Rs1.50lakhs) 5.65%
Term Deposit Rs.1Cr and above Contact HO through RO
Guaranteed return plan Guaranteed return plan

Features of Tamil Nadu Grama Bank Fixed Deposit

Tamil Nadu Grama Bank Fixed Deposit schemes have various benefits to customers. They are as follows:

  • It offers both manual and online banking facility which makes it easier to open a fixed deposit account.
  • The rate of interest offered for a fixed deposit account is higher than the savings bank account based on the term or tenure of the deposit.
  • The fixed deposit account offers you an assured return irrespective of market fluctuations.
  • As per the Income Tax Act 1961, tax deducted at source (TDS) is also allowed on the interest amount received from fixed deposit.
  • It offers a stable return as it is the safest instrument of investment. Therefore, it is favourable for investors who are not willing to take high risks on their investments.
  • It offers different periodic interest payouts, which you can choose as per your financial convenience.
  • One can also appoint a nominee for one’s fixed deposit account. The bank provides easy liquidation and withdrawal facilities as well.

About Tamil Nadu Grama Bank Fixed Deposit Interest Rate Calculator

Tamil Nadu Grama Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • The amount that is invested

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

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Tamil Nadu Grama Bank Fixed Deposit Rates: Things to Know

Some of the things to learn about Tamil Nadu Grama Bank fixed deposit rates are:

  • Loans or overdrafts can be provided on your fixed deposit account.
  • You can easily renew your fixed deposit account in this bank and enjoy additional benefits of the rate on the account's renewal. 
  • Senior citizens depositing money in its fixed deposit schemes for more than 180 days get an additional 0.50% interest.
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Wrapping it Up

Tamil Nadu Grama Bank offers an easy and convenient banking facility for its fixed deposit accounts and a competitive interest rate. However, the interest rates and savings are subject to changes introduced by the RBI and Income tax department. 

It is advisable to make a prior inquiry of the prevailing FD rates directly from the bank before opening a fixed deposit account.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply
+ Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023

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