Telangana Grameena Bank FD Rates

Features of Telangana Grameena Bank Fixed Deposit 

Telangana Grameena Bank fixed deposit offers several benefits and features to its customers wherein local people are in majority:

• Telangana Grameena Bank allows fixed deposit accounts to be opened for periods 6 months to 10 years.
• The fixed deposits can be withdrawn prematurely, but an interest deduction penalty is charged on the deposit.
• No premature deduction penalty is charged on long-term deposits.
• Loans and overdrafts are available based on the fixed deposits. These loans can go up to 85% of the deposited amount.
• Without any specific instructions from the customer, the fixed deposits are auto-renewed for the same tenure as they were initially set for.
• Customers can choose to receive their interest payments monthly, quarterly, every six months, or every twelve months. 
• Telangana Grameena Bank uses standing instructions for the disbursement of the interests.
• TDS is also deducted from fixed deposits as per IT laws.

Telangana Grameena Bank FD Rates 2021

Telangana Grameena Bank FD rates vary according to the deposit tenure. The rates were last revised on 17^th June 2020.  

Here is a table representing the fixed deposit rates for various tenures:

* These rates are applicable for NRE and NRO account deposits only 

*The rates are all subject to revision by the bank, and revised rates will be informed to the public

Telangana Grameena Bank FD Rates: Things to Know

Telangana Grameena Bank FD rates have features of their own. However, one must be aware of a few things regarding the fixed deposits and their interest rates. 

Some of these are:

• The rate of interest for deposits above 1 Crore, even in the form of multiple split deposits and their renewals, will be decided by the Bank's Head Office daily.
• Employees of Telangana Grameena Bank get an additional 1% interest above the existing rate.
• Senior citizens get an 0.5% interest above existing rates on all deposits above one year tenure.
• Telangana Grameen Bank's staff eligible for superannuation can also get 1% interest extra per annum and another 0.5% added interest per annum as senior citizens.
• When interest rates are revised, the new rates are applied for new deposits as well as for renewals of existing deposits.

In Conclusion

For all term deposits, customers have to submit their KYC requirements. Fixed deposits are a reliable solution for senior citizens and everyone else who want to grow their money without risks.

The principal amount remains intact for the user to withdraw for emergencies while getting a small interest as periodic income. Telangana Grameena Bank has 426 branches spread all over the state to make it easy for customers to put in fixed deposits or open savings accounts. Today, the bank successfully serves more than 35 lakh customers.