LOAN ON DEPOSITS !

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Loan on deposits upto 75% of the deposit amount will be permitted once during the tenure of the deposit after a period of 3 months from the date of deposit as per rules in force. Separate loan application form can be had from the Registered Office / Branches of the Company. Interest will be charged at the rate of 2% above the rate of interest given on the deposits. Interest on loan will be adjusted out of the interest payable on PIPS deposits and compounded basis on MMS deposit and recovered at the time of repayment of loan or on maturity of the said deposit. If the deposit is not claimed for refund / renewal, the loan, if any, on deposits with interest will be adjusted against the deposit on the date of maturity.

 
 
Why to Invest TDFC?
  • Wholly owned by Government of Tamilnadu
  • Registered with RBI as a Non Banking Finance Company vide Regn. No.07.00403
  • Operations fully computerized.
  • Making profit since inception (1975).
  • Interest Warrants are encashable at par at spefied centers in India.
  • Outstation repayment by Demand Draft at our Cost.
  • Loan facility is available against deposits.
  • Nomination facilities are available subject to the provisions of the RBI (Amendmant) Act 1997.
  • Trust can invest with TDFC under Sec.11(5)(VII) of the I.T.Act.