RENEWAL / REFUND OF DEPOSITS !

image

a) Deposits can be renewed subject to the Company’s terms and conditions for acceptance of deposits and the Directions of the Reserve Bank of India in force from time to time.

b) In the event of renewal of deposit received within three (3) months from the date of maturity, the deposit will be renewed from the date of maturity at the interest rate, operating at the time of maturity.

In the case of renewal of deposit received after three months from the date of maturity the same will be treated as fresh desposit and the interest rate prevailing on the date of receipt of application will be applicable.

The rate of interest applicable for the overdue period i.e from the date of maturity to the receipt of renewal application on the amount so placed as fresh deposit shall be 2% less than the rate of interest applicable for 12 months deposits either at the time of maturity of receipt of renewal application whichever is less.

c) In the case of refund of deposit, the depositor shall communicate to the Company atleast one week before the date of maturity along with the Fixed Deposit Receipt / Certificate duly discharged for making payment.

d) Any application for change in primary / joint depositor will be entertained at the time of renewal with the consent of the depositors in the original deposit certificate.

e) For renewal and repayment of deposits on maturity the Deposit Certificate has to be surrendered duly discharged by all the depositors, on one rupee revenue stamp. The payment will be made only to the primary depositor.

f) If the existing deposit is renewed on maturity by adding further amounts by way of cheque. Deposit Certificate for the consolidated amount will be issued only from the date of receipt of cheque or the date of maturity of the existing deposit whichever is later and interest will accrue from such date only.

g) In the renewal application all the depositors whose names appear in the application form should sign.

h) Repayment of deposits will be through cheques.

i) TDFC is not responsible for postal delays.

 
 
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).
  • 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.