Tamilnadu Power Finance - Deposit Schemes


The Corporation invites fixed deposits from public.
REGULAR INTEREST PAYMENT SCHEME (RIPS)

Period (Months)
Rate of Interest per annum
Maximum
Deposit
Without Tax
Deduction (Rs.)
Monthly (%)
Quarterly (%)
Annually (%)
24
-
9.58
-
52,000/-
36,48&60
10.00
10.08
10.47
47,000/-
Minimum Deposits
Rs.20, 000/-
Rs.10, 000/-
Rs.10,000/-
-
Further deposits in Multiples of Rs.1, 000/-


CUMULATIVE INTEREST PAYMENT SCHEME (CIPS)
SCHEME ' A ' (CIPS - I)
Period
Months
Maturity
Value for
Rs. 10,000/-
(Rs.)
Effective
yield per
Annum
(%)
Maximum
Deposit
Without Tax
Deduction
(Rs.)
12
10,938/-
9.38%
53,000/-
24
12,083/-
10.42%
45,000/-
36
13,482/-
11.61%
39,000/-
48
14,894,/-
12.23%
35,000/-
60
16,453/-
12.91%
32,000/-
MINIMUM DEPOSIT RS. 10,000/- AND IN MULTIPLES OF RS. 1/-
Additional Interest for Senior citizen

@ 0.25 % for 12 and 24 months , @ 0.50 % for 36,48,60 months  Deposit over and above the normal rate.


CUMULATIVE INTEREST PAYMENT SCHEME
SCHEME ' B ' (CIPS - II)
PERIOD 
Minimum Deposit
Maturity
Value
Effective Yield per annum
Maximum deposit (without I.T. deduction & Form 15H)
60 MONTHS
Rs.608/-
Rs.1,000/-
12.91%
Rs.32,000/-
MINIMUM DEPOSIT RS. 608/- AND IN MULTIPLES OF RS. 608/-