Fixed Deposit

  • Starts from Rs. 10,000/-
  • 11.5% interest
  • 3 years duration

Thangamayil

Fixed Deposit Scheme

watch your money grow
  • Starts from Rs. 10,000/-
  • 11.5% interest
  • 3 years duration

A Fixed Deposit is one of the better investment plans at Thangamayil, where one can invest a specific sum for a fixed period. This scheme is useful for short term and medium term investment, ordinarily ranging from 1 year to 3 years. Thangamayil Jewellery Limited’s Fixed Deposit scheme provides interest rates depending on the tenure of deposit. Through fixed deposits, one can also receive regular income in the form of monthly interest payments, paid through RTGS/NEFT without any need for manual intervention at both ends, before the 6th of every succeeding month.

Highlights

    • Deposits will be accepted only from Resident Individuals who are not minors, in multiples of Rs. 1,000/- subject to a minimum of Rs. 10,000/-.
    • Interest will be calculated from the date of realisation of the cheque/draft.
    • Nomination facility is available.
    • Acceptance/renewal of deposits will be at the discretion of the company and subject to the terms and conditions stipulated by the company.
    • Premature withdrawal is permissible as per the statutory guidelines.
    • Income tax will not be deducted up to an interest amount of Rs. 5,000/- in a financial year, subject to any change in the applicable Tax Laws and wherever applicable, unless the prescribed form claiming exemption from deduction of tax at the source is received in time and in accordance with the provisions of the Income Tax Act, 1961.

HOW TO APPLY :

Kindly follow the instructions given in the Application Form.

  • Local Cheque/Demand Draft drawn on a scheduled bank and payable at Madurai at par should be made in favour of "Thangamayil Jewellery Limited" and crossed "A/C PAYEE ONLY".
  • The Application Form along with the necessary remittance should be sent to the Corporate Office of the company, addressed to the Company Secretary.
  • Payment of interest and repayment of principal amount will be made by a cheque/ECS, in favour of the sole/first-named depositor.
  • Cash will not be accepted by the company.
  • Acceptance of deposits are subject to the Terms & Conditions mentioned in the application form.

All communications with regard to Fixed Deposit should be addressed to the corporate office mentioned below.

Corporate Office: Palami Enclave, 25/6, New Natham Road, Madurai - 625014.
Phone: +91 452 2565553, +91 96262 61515
Email [email protected]
For more information, contact the nearest TMJL branch.

FAQ

What are the various schemes of Fixed Deposit?
  • There are two types of FD schemes viz.,
  • Term Deposit Scheme: In Term Deposit scheme, interest is paid monthly as per the terms & conditions of the Fixed Deposit scheme. The principal amount is paid on maturity.
  • Cumulative Deposit Scheme:In a cumulative scheme, interest and principal amount is paid only on the maturity of the FD. Interest accrued on the FD is compounded monthly and gets added to the principal so as to receive interest on accumulated principal, i.e. the original principal plus the interest accrued every quarter, which gets added to the principal.
Minimum Tenure & Deposit What is the minimum tenure for which I can place a fixed deposit?
Fixed Deposits are accepted for a minimum tenure of 1 year, 2 years and 3 years at the interest rates of 9% p.a., 10% p.a. and 11.5% p.a. respectively.
What is the minimum deposit amount required for opening an FD account?
The minimum amount for investing into the Fixed Deposit scheme is Rs. 10,000/- and in multiples of Rs. 1,000/-.
Interest mode and payment When is the interest paid/credited (in case of Term Deposit scheme) or accrued (in case of Cumulative Deposit scheme)?
Interest gets paid/credited/accrued monthly during the year and paid either through cheque or ECS facility.
Eligible Investors Who can invest in a company’s FD?
Individuals, either singly or jointly can apply for investing in a company FD. The first holder is considered for the purpose of payment of interest and tax. FDs can also be accepted from individuals.
Issue of Fixed Deposit Receipt (Bond) When will I get the Fixed Deposit Receipt (FDR)?
Fixed Deposit Receipt (FDR) is issued to the applicant giving all the terms and conditions of the Fixed Deposit. The FDR is usually received by the applicant within one week from the date of realization.
Senior Citizen Benefits Do Senior citizens get any extra benefit on the FD?
No. Senior Citizens do not get any extra benefit on the Fixed Deposit schemes.
Renewal Will my deposit get automatically renewed?
No. The customer will be asked to renew on maturity of the deposit. The depositors should send the fixed deposit receipt (FDR) with due signature on the reverse of the renewal column, together with a duly completed, fresh application to the company at least 10 days before maturity. The renewal application will not be entertained after 30 days from the date of maturity of the deposit.
Termination & Closure How do I redeem my FD?
The original fixed deposit receipt (FDR) duly discharged on a revenue stamp (Rupee One) should be submitted to the concerned personnel at a TMJL branch before the date of maturity, as mentioned on the FDR, giving all details to effect the payment
Can I withdraw the fixed deposit amount before the date of maturity?

Premature withdrawal is permissible at the sole discretion of the company. However, no such withdrawal is allowed before 6 months. In the case of withdrawal of FD amount before maturity, the interest will be as per the Terms and Conditions on the Fixed Deposit Application Form.

All premature withdrawals shall be subject to such terms, including reduction in the rate of interest as prescribed in the Companies (Acceptance of Deposits) Rules, 2014, as amended from time to time.

Nomination & Benefits Is there a nomination facility available on FD?
  • Nomination facility is available for all depositors.
  • Nomination can be made by individuals only. The Nominee shall not be a Trust, Society, Partnership firm, Karta of HUF or Holder of a Power of Attorney.
  • The nominee would receive the payment of the deposit amount and interest, in the case of death of the sole depositor, on production of a relevant death certificate.
In the case of a sole depositor, how do you settle the claim?
  • It is necessary for the legal representative of the depositor to produce a death certificate / succession certificate / Letter of Administration of the Will, to the approval of the company in this regards.
Transfer Are Company FDs transferable?
No. Company FDs are non-transferable.
Loan Is a loan facility available under Company FD?
No. Loan facility is not available under Company FD.
Approval Under what regulations are the fixed deposits accepted by the company governed?
Deposits are accepted by the company in line with the directives of the Companies Act, 2013; Companies (Acceptance of Deposits) Rules, 2014 and Reserve Bank of India’s supervisory guidance.
Has the company obtained a Credit Rating from the rating agency for their Fixed Deposit programme?
Yes, the company has obtained a credit rating from the rating agency.
Duplicate FDR What if one loses the fixed deposit receipt (FDR)?
In the event of loss of the fixed deposit receipt (FDR), the depositor should immediately inform the company about the loss of the instrument. The company may issue a duplicate fixed deposit receipt, subject to non-encashment of the original instrument, upon receipt from the depositor a 'letter of loss of instrument', an indemnity in the prescribed form to its satisfaction and after compliance with such other formalities, as may be required by the company.
Documents What are the documents required for investing in Fixed Deposit?
  • For Identity proof: PAN card, passport, driving license, voter ID card, ration card, Government identity card.
  • For Address proof: Driving license, passport, latest electricity, gas & telephone bill, ration card, latest bank account statement.
Contact Details Who should I contact for queries relating to Fixed Deposits?
  • For any queries relating to Fixed Deposits, like status of fixed deposit receipt (FDR), non-receipt of fixed deposit receipt (FDR), interest, etc., you can contact us at the following numbers: 0452 2565553 / +91 96262 61515.
Statutory Regulations Permanent Account Number (PAN) Is a PAN card compulsory for applying for a company FD scheme?
Usually PAN card details of the sole/first applicant are collected by companies for tax purposes. Hence, a PAN card becomes mandatory for applying for the Fixed Deposit.
Tax Deducted at Source (TDS) Can a single depositor invest in several FDs using the same name?
Yes, a single depositor may invest in several deposits using the same name, but for TDS purpose all deposits will be clubbed together.
On what basis will the TDS limit be determined in case of several FDs in different joint names?
For TDS purposes, all deposits will be clubbed on the basis of the first depositor, as mentioned in the fixed deposit receipt (FDR).
When is TDS deducted on the interest from company Fixed Deposits?

TDS is deducted if the interest on fixed deposit exceeds Rs. 5000/- in a financial year.

  • However, depositors who are not liable to pay any income tax during the financial year and their interest on fixed deposits received/credited/accrued during the financial year does not exceed the maximum amount (Tax Exemption Limit from income tax during the financial year).
  • They should submit Form 15G (for individuals other than senior citizens) and Form 15H (for senior citizens) to the company, so as to receive interest without deduction of tax at source.
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