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Tata Motors reintroduces fixed deposit scheme for 2 and 3 year terms | Ratekhoj.com, Best Fixed Deposits, Loans, Insurance Rates and Credit Cards


August 26, 2009. Tata Motors, India’s largest automobile company, is reintroducing its fixed deposit scheme with new interest rates. The fixed deposits are intended to raise around Rs. 1500 crores according to a company announcement. The fixed deposits are offered for terms of 2 and 3 years with a minimum deposit of Rs. 20,000. Interest rates for these fixed deposit are 8.00% for the 2 year term and 8.75% for the 3 year term.

The fixed deposit scheme has two investment options for the public:

Investment Option I: Scheme-A Quarterly Income Plan*

Period

Minimum Amount (Rs.)

Rate of Interest (p.a)

2 Years

20,000

8.00%

3 Years

20,000

8.75%

* Monthly interest option available in case of deposits of Rs. 1 lakh & above

 

Investment Option II: Scheme-B Cumulative Deposit Plan

Period

Minimum Amount (Rs.)

Rate of Interest*(p.a)

Maturity Value (Rs.)

Yield (p.a)

2 Years

20,000

8.00%

23,433

8.58%

3 Years

20,000

8.75%

25,930

9.88%

* Compounded quarterly

 

Additional amount of deposits will be accepted in multiples of Rs. 10,000. Interest and maturity value payments are subject to deduction of tax at source, wherever applicable. Deposits will be accepted from Individuals, Minors (through Natural Guardians), Non Resident Indians on non repatriation basis (through NRO account only) and HUFs.

Complete details of the scheme can be obtained from the Tata Motors fixed deposits page.

Comparison of the fixed deposit interest offered by Tata Motors and other institutions in India can help you get the best interest rates in the institution of your choice.

According to Tata Motors, it is the leader in commercial vehicles in each segment, and among the top three in passenger vehicles with winning products in the compact, midsize car and utility vehicle segments. The company is the world’s fourth largest truck manufacturer, and the world’s second largest bus manufacturer. Tata Motors, the first company from India’s engineering sector to be listed in the New York Stock Exchange (September 2004), has also emerged as an international automobile company. Through subsidiaries and associate companies, Tata Motors has operations in the UK, South Korea, Thailand and Spain.




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