Tamil Nadu Power Finance FD Rates

Under the ownership of the Government of Tamil Nadu, Tamil Nadu Power Finance Corporation (TNPFC) was incorporated in the year, 1991. Registered under the (RBI) Reserve Bank of India as an NBFC (Non-Banking Finance Company), the center works majorly by opening various deposit plans for its customers.

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Tamil Nadu Power Finance FD Interest Rates

Rates with effect from 5th July 2022:


Interest Rates (Per Annum)
General Citizens Senior Citizens
1 year 7% 7.25%
More than 1 year but less than 2 years 7.25% 7.50%
More than 2 years but less than 4 years 7.75% 8.25%
More than 4 years but less than 5 years 8% 8.50%

*FD Rates are subject to change. Please refer Bank’s website for accurate rates.

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Features of Tamil Nadu Power Finance Fixed Deposit Scheme

Following are the main highlights of the Tamil Nadu Power Finance FD Scheme:

  • The tenure ranges from 1 year to 5 years under this FD Scheme.

  • Both cumulative and non-cumulative options are available under the scheme.

  • Under the cumulative option, the entire amount is paid at the time of maturity.

  • Under the non-cumulative option, the FD interest amount is paid quarterly, monthly, or annually.

  • The minimum deposit amount under the scheme is Rs.50,000.

  • The sum can be deposited in multiples of Rs.1,000.

  • Interest rates range from 7% to 8% and from 1 year to 5 years for general citizens.

Cumulative and Non-Cumulative FD

Two types of deposit options are available under the Tamil Nadu Power Finance FD scheme: cumulative and non-cumulative.

Cumulative means "complete." Under the Cumulative fixed deposit option, the total interest amount is calculated during the tenure's completion. The depositor must pay the amount during the maturity of the fixed deposit. 

Under the non-cumulative FD option, the calculated interest amount is payable at regular intervals depending on the FD scheme. The interest payment mode can be either annually, half-yearly, monthly, or quarterly.

Particulars Cumulative Deposit Option Non-Cumulative Deposit Option
Payouts Interest is paid at the end of the tenure of the Fixed Deposit. Interest is paid annually, half-yearly, monthly, or quarterly.
Reinvestment Either reinvested or compounded at the end. The interest is paid regularly.
Returns Returns are better compared to the non-cumulative option. Returns are lower in comparison to the cumulative deposit option.
Payment One-time at the end Regularly
Suitability Suitable for employees (salaried) or stable income individuals. Suitable for retirees or unstable income individuals.

Documents Required

Aadhaar Card is the mandatory document required to open a Tamil Nadu Power Finance FD account. If the depositor's residential address is not the same as on the Aadhaar, the following documents need to be provided instead:

  • Driving license

  • Passport

  • Telephone bill

  • Electricity bill

  • Voter ID card

  • Or any other document required by the Tamil Nadu Power Finance authorities.

Eligibility Criteria

Here is a list of individuals and groups who are eligible to open Tam Nadu Power Finance FD:

  • Hindu Undivided Families (HUFs)

  • Resident Indians

  • Government firm

  • Sole Proprietorship Firms

  • Trust accounts

  • Societies

  • Non-Resident Indians (NRIs)

How to Invest in Tamil Nadu Power Finance FD Scheme?

An investor can opt for the online or offline investment method under the Tamil Nadu Power Finance FD Scheme.

  1. Online Method

    The following steps need to be followed to invest online:

    • Visit the official website of Tamil Nadu Power Finance Fixed Deposit online.

    • Fill in all the mandatory details to open the FD account.

    • Select whether the FD is for an individual or an institution.

    • If an individual, opt if a general citizen or a senior citizen.

    • Choose the residential status of the entity, whether Indian resident or NRI.

    • Mention the deposit amount; the minimum amount should be Rs. 50,000.

    • Choose one of the options of investment, cumulative or non-cumulative.

    • Select the investment period and the investment period mode.

    • Click on the create Fixed Deposit option and your Tamil Nadu Power Finance Fixed Deposit account.

  2. Offline Method

    In the offline method, one can visit the nearest Tamil Nadu Power Finance center and fill out relevant forms related to opening a Fixed Deposit Account. All the relevant documents and the deposit amount must be submitted to the manager. After successfully verifying all the provided documents, the branch manager provides a receipt that is the account opening proof for the investor.

*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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