In this article I will writing about the fixed deposit with Tata Motors. As we are aware of the fixed deposit with banks, nowadays many corporates started rolloing out the fixed deposit schemes to the public to collect money. The one advantage with this option is they are providing you the highest interest rates compare to the other banks. In this market, Tata Motors is the first company coming with its own fixed deposit scheme. In this article I will be writing about the advantages and disadvantages of this scheme. Please post your comments after reading this article. You can also subscribe to our future articles here.
Tata Motors Fixed Deposit Schemes
The fixed deposit scheme comes with the two plans.
Quarterly Income Plan
In this plan the interest for the amount is deposited to your savings bank account every three months which you have specified while opening the fixed deposit account. It will not be added to your fixed deposit money. This will be good when you are looking for the periodic income on your deposit. You will get the interest for very month if you are depositing more than Rs.100000. The following table illustrates the rate of interest and duration for the fixed deposit.
|
Period |
Minimum Amount (Rs.) |
Rate of Interest (p.a) |
|
1 Year |
20,000 |
10.00% |
|
2 Years |
20,000 |
10.50% |
|
3 Years |
20,000 |
11.00% |
| * Monthly interest option available in case of deposits of Rs.100000 + | ||
Cumulative Deposit Plan
This is another plan which yields returns at the time of maturity. Cumulative interest means every quarter the interest will be added to the fixed deposit amount and interest will be calculated for the total amount. You have to note that the interest will be added every three months. For example, if your deposit earns Rs.2000 for each month, and the fixed deposit is Rs.200000, then from the beginning of the fourth month onwards interest will be calculated for Rs.202000.
This plan gives more advantage when you don’t want to use any money from the deposit. At the completion of period, you will get the lump sum amount as the return.
|
Period |
Minimum Amount (Rs.) |
Rate of Interest*(p.a) |
Maturity Value (Rs.) |
Yield (p.a) |
|
1 Year |
20,000 |
10.00% |
22,076 |
10.38% |
|
2 Years |
20,000 |
10.50% |
24,607 |
11.52% |
|
3 Years |
20,000 |
11.00% |
27,696 |
12.83% |
| * Compounded quarterly | ||||
Key Points
- 0.5% more for senior citizen’s, Tata Motors share holders and employees of Tata Motors.
- The interest rate is good compare to the bank deposits.
- It is good for the short term deposits like up to three years.
Updated as on (17-July-2009):
Tata Motors Fixed Deposit schemes accepting fresh Deposits only from Share Holders. They clearly mentioned as
Deposits will be accepted only from shareholders of Tata Motors Limited.
I will be updating this post once it is open to public. Here is the revised Interest Rates for Share Holders:
Investment Option I: Scheme-A Quarterly Income Plan*
|
Period |
Minimum Amount (Rs.) |
Rate of Interest (p.a) |
|
1 Year |
20,000 |
9.50% |
|
2 Years |
20,000 |
9.75% |
|
3 Years |
20,000 |
10.25% |
| * 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) |
|
1 Year |
20,000 |
9.50% |
21,968 |
9.84% |
|
2 Years |
20,000 |
9.75% |
24,249 |
10.62% |
|
3 Years |
20,000 |
10.25% |
27,095 |
11.83% |
| * Compounded quarterly | ||||
Updated as on (25-Aug-2009):
Tata Motors again accepting the fresh deposits with lowes rates from public. The following are the interest rates.
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 | ||||
Summary
In this article I have explained about the Fixed deposit scheme by Tata Motors Limited. When the banks are reducing the deposit rates, these kind of offers are good for the customers to get the good return for their investment. In my next article I will be writing about the fixed deposit from another well know company. Thank you for the reading!! Please leave your comments and feed backs in the below comments section.
December 9, 2011 at 7:48 am
MRS RAUT said:
where can i get the maturity cheque across the counter.
thanks
mobile 9326079474
June 20, 2012 at 3:43 am
Please do not invest even 1 rs. with tata motors,
I had invested rs 100000 3 years back.
And after 3 years, they just sent me a cheque of the principal amount, whereas the interest I never received.
This is the biggest FRAUD scheme I have seen
BEWARE
do not invest with TATA motors
December 28, 2011 at 10:02 pm
I would like to know if Tata motors is renewing deposits and if so @ what rates
May 3, 2012 at 2:00 am
Alternatively you may deposite in Jaiprakash Asoocites interest rate upto 15.07% (yield)
January 9, 2012 at 9:52 pm
I would like to know if Tata Motors is renewing FD’s . If there is any office for Tata Motors FD section in delhi .
KIndly reply
9711217108, ganesantamil@yahoo.com
May 17, 2012 at 11:18 pm
Hello Friends,
I have invested 50,000/- in kodak securities and they are paying 33% returns.
In shorts money get double in 3 years…also They have great referral scheme like if we referred friend invest 1 Lakh, we get 15,000/- on the spot.
if any one interested pls contact them — 99-307-3-66-88.
Regards
Pooja Sanyal
May 17, 2012 at 11:19 pm
call 9930736688 for 33% return
February 1, 2013 at 10:16 am
Are you sure?
Please call me at 09820079930
to get more details.
Thanks and regards,
C M Shah
January 19, 2012 at 7:12 am
please give me address of location of offices of tata motors in east delhi for fixed deposit schemes
January 30, 2012 at 2:15 am
I want to know TATA motors FD scheme is still available or not if yes then at what rate
February 7, 2012 at 10:57 pm
My mom wants FD in Tata Motors, She is senior citizen, Let me know
current Rate of Interest( FD) and your Mumbai Address.
February 8, 2012 at 10:11 am
Our FD matures tomorrow(09/02/2012). Since we opted for ECS please let us know if the amount will be directly deposited into the account.
Thanks
Praveen Pabba
February 26, 2012 at 8:47 am
Sir I would like to renew my FD’s in Tata motors Pl. inform me the procedures . Send me the 4 renewal form in my address . my address : 4 No.upendra Kishor Path , SAIL Co-Op Housing City Centre Durgapur -713216 Dist. – Burdwan West – Bengal . Pl. give me the nearest Tata Motor Office In West bengal. My contact no. 91-9434250382
March 9, 2012 at 1:05 am
sir
Rs 50000/= has been deposited from my SB A/C STATE BANK OF INDIA CLEMENT TOWN DEHRA DUN
Vide cheq no 422015 dated 20.09.2009
pl investigate the matter on priority on which HEAD this money
is drawn by you
reply soon
March 27, 2012 at 10:32 am
I advise NOT to invest in Fixed Deposit schemes of Tata group companies. I had invested in such a fixed deposit offered by Tata Motors 3 years ago vide certificate no. 91633 and 91634 and I am still waiting for my redemption amount even much after the maturity date.
April 4, 2012 at 4:29 am
TATA MOTOR’S SPLASHED IN NEWS PAPERS OF F.D.,I DECIDED THAT
TATA MOTORES IN 3 YEARS, BUT SUDDENLY AFTER 21/March ~ 27TH 2012 HAVE DISCONTINUED, NOTE TATA IS SAME AS OTHE INDIAN DIRTY ROTTEN RASCAL/SCOUNDREL COMPANYS ….JUST A CURT “Dear Depositers…WE(Tata Motors,to discontinue within 15 days And send the originak FD in TDR Durabshaw office)Great “
May 1, 2012 at 11:51 pm
how to get maturity amount of tata motor fixed deposit scheme.
May 4, 2012 at 1:52 am
The service is pathetic. Very difficult to get your money back once you invest in it.
Read the detailed review on below website, and i completely agree with these reviews. Invest in these FDs only if you have all the amount of free time in this world to followup with them to get your money back. I am still waiting for mine..
http://www.complaintsboard.com/complaints/icicidirectcom-c356367.html
May 17, 2012 at 12:52 am
sir my fd numbers*-196173,196174,196175,196176 of one lakh each has matured on18/04/2012. But i have not received the any of the principal amount cheques or any communication from tata motors ltd… Kindly clarify and send the cheques expeditiously..
rk tripathi 98A RAJBAGHCOLOINY SAHIBABAD GHAZIABAD
EMAIL..tripathi_rk2411@yahoo.com
May 29, 2012 at 7:32 pm
I want to take an agency for give business about fixed deposits in tata motors.
where from I get the agency??
Ph.- 9051850537
suragith@rediffmail.com
October 16, 2012 at 5:33 am
Dear Sir,
I have sent FDR No. 262694(Date of maturity 14-10-12) of Tata Motors duly discharged to the Registrar, Link Intime Pvt.Ltd.by Registered Post as printed no FDR. Now the Registrar have been changed to TSR Darashaw Ltd. pl advise how I can get my repayment?
INDRANI ROY