TN Power Finance is owned by the Govt. of Tamil Nadu. It has been offering FDs since 1991 and has over 4 lakh depositors.
Effective December 16, 2010, the corporation has revised the interest rates on its Fixed Deposits:
The company offers two schemes : Regular Interest Payment Scheme (RIPS) and Cumulative Interest Payment Scheme (CIPS). The interest rates for the various schemes are as follows:
Regular Interest Payment Scheme
| all depositors | Senior Citizens (58+ years) | |
| 36, 48 and 60 months | 9.50% pa (compounded monthly) Yield : 9.91% pa | 10 % pa (compounded monthly) 10.47 % pa |
Cumulative Interest Payment Scheme
| all depositors | Senior Citizens (58+ years) | |
| 60 months | 9.50% pa (compounded monthly) Yield : 12.10% pa | 10 % pa (compounded monthly) 12.91 % pa |
Download application forms from www.tninfrafinance.com or www.tnpowerfinance.com.
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