A Government of Kerala Undertaking

( A Non Banking Financial Company Registered Under the Reserve Bank of India )


KTDFC is accepting fixed deposits, the payment of which (Principal and Interest payable thereon) is fully guaranteed by Government of Kerala vide Order No.GO(MS)No.103/2013/Tran dated 16.11.2013, up to `1750 Crores, at present.

The different modes through which KTDFC receives an application for Fixed Deposit are as follows:


•  Applications submitted directly to different KTDFC offices.

•  Applications received through authorized fund arrangers/agents who were appointed by KTDFC.



Cheques can be deposited at HDFC / IDBI banks in any branches in India, through CMS facility as per the details given under:


i. If through HDFC Bank, use the following details :


       Client code         :    KTDEVFIN

       Client Name        :    Kerala Transport Development Finance Corporation Ltd

       Account  No       :    00630350000068

       Bank                     :    HDFC Bank Vazhuthacaud, Thiruvananthapuram

       RTGS/IFS Code :    HDFC 0000063



ii. If through IDBI Bank, use the following details :


       Client code         :    KTDEVFIN

       Client Name        :    Kerala Transport Development Finance Corporation Ltd

       Account  No       :    0046102000015604

       Bank                     :    IDBI Bank Vazhuthacaud, Thiruvananthapuram

       RTGS/IFS Code :    IBKL 0000046



There are two General Schemes available.


Scheme I (PIPS- Periodic Interest Payment Scheme)

Scheme II (MMS – Money Multiplier Scheme)




Application form should be forwarded along with the following essential documents.


1.    Mandatory documents to be furnished as per KYC (Know Your Customer) directions of the Reserve Bank of India.




Document to be obtained

A. Individual


-Proof of Identity

(i) Passport  (ii) PAN Card  (iii) Voters Identity Card  (iv) Driving license  (v) Identity card  (vi) Letter from recognized public authority o public servant verifying the identity and residence of the customer

(any one document mentioned above)

-Correct permanent address

(i)Telephone bill  (ii) Bank account statement  (iii) Letter from any recognized public authority  (iv) Electricity bill    (v) Ration Card  (vi) Letter from employer, (vii) Passport (viii) Voters Identity Card (ix) Driving license (x) Identity Card

(any one document mentioned above)


-Name of Company 

-Principal place of business

-Mailing address of the company

-Telephone/Fax Number

(i) Certificate of incorporation and Memorandum & Articles of Association (ii) Resolution of the Board of Directors to open a deposit and identification of those who have authority to operate the deposit  (iii) Power of Attorney granted to its managers, officers or employees to transact business on its behalf  (iv) Copy of PAN allotment letter (v) Copy of telephone bill



-Legal name


-Name of all partners and their addresses

-Telephone numbers of the firm and partners

(i) Registration certificates, if registered  (ii) Partnership deed  (iii) Power of Attorney granted to a partner or an employee of the firm to transact business on its behalf  (iv) Any officially valid document identifying the partners and the persons holding the Power of Attorney and their addresses  (v) Telephone bill in the name of firm/partners



-Name of Trustees, settlers, beneficiaries and signatories

-Names and addresses of the founder, the managers/directors and the beneficiaries

-Telephone/fax numbers

(i) Certificate of registration, if registered  (ii) Power of Attorney granted to transact business on its behalf  (iii) Any officially valid document to identify the trustees, settlers, beneficiaries and those holding Power of Attorney, founders/managers/directors and their addresses  (iv) Resolution of the managing body of the foundation/association  (v) Telephone bill

2. Local cheques/DD payable at Thiruvananthapuram.


3. In the case of outstation depositors, Pay-in-slips of HDFC or IDBI Banks for the proof of amount deposited, as the case may be.


4. Form 15G/15H / Tax exemption certificate obtained from Income Tax etc,if tax on interest (TDS) above ` 5,000 not to be deducted at source.


5. Copy of PAN Card.


6. In case of Institutions, Resolution of the Board, Tax exemption certificate, if any.


7. Bank account details for effecting NEFT/RTGS payment in the prescribed format which can also be downloaded from our website. (NEFT/RTGS - subject to availability of the facility)


N O     T R A N S A C T I O N     O N     G O V E R N M E N T     A N D     B A N K     H O L I D A Y S 







(a) For deposits under Scheme I, the mimimum amount accepted will be `10,000/- and further in multiples of `1,000/-.


(b) Under Scheme II, deposits will be accepted in multiples of `1,000/- with a minimum of `10,000/- and the deposits along with interest accruing preiodically will be paid at the end of the deposit period.


(c) Application for fixed deposit shall be made in the prescribed form available at the Registered Office/Branch Offices of the Company.


(d) Application form along with Cash/Crossed Cheque/Draft may be forwarded to the Regstered Office/Branch Offices of the Company.


(e) All Cheques/Drafts must be crossed and made payable to Kerala Transport Development Finance Corporation Limited.


(f) Application bearing the thumb impression of the depositor will not generally be entertained.





(a) A temporary receipt in the printed form shall be issued by the cashier, in token of the receipt of cash, cheque ,draft whether tendered in person or by post. For the purpose  of  determining  the  date  from  which  the  interest  is  to  be  allowed  on deposit, the date of receipt of cash at cash counter of the date of realization of cheque/draft shall be the criterion. The fixed deposit receipt duly stamped shall be sent to the depositor by registered post to the address as given in the application, normally within three weeks from the date of issue of the temporary receipt.


(b)  Fixed deposit receipts are not transferable.


(c)  Fixed deposit may be the names of not exceeding three joint holders.


(d)  In the case of deposits in joint names, all correspondence will be addressed to the person whose name appears first in the application form.


(e)  Deposit from minor(s) will be accepted through the natural guardian.


(f)  In the event of loss of deposit receipt, the Corporation may is deemed necessary, call upon the depositor to indemnify against any future claim. All expenses shall be borne by the depositor.





(a) Under Scheme I (PIPS), interest will be paid through post dated interest warrants for the entire period. Under Scheme II, interest will be paid on maturity along with the principal amount. Interest on deposits onScheme I will be paid on 1st of every month in the case of monthly interest payment scheme and on 1st of January, April, july and October in the case of quarterly interest payment scheme through interest warrants drawn on HDFC bank/IDBI Bank. However the 1st instalement of interest will be paid within one month from the due date.


(b) Interest will accrue only from the date of realization of Cheque/Draft.


(c)  In the case of joint deposits, all cheques and warrants for payments of interest will be drawn in favour of the first named depositor and any discharge given by the said person for payment of interest shall be binding on all joint depositors.


(d)  Interest earned by the Charitable Trust is exempted under Income Tax Act vide section II (5) (vii)


(e) If the aggregate amount of interest payable to a resident depositor in any of the financial year under the schemes were to exceed `5,000/- income tax at the appropriate rates as prescribed in the Finance Act as amended from time to time will be deducted as and when payment is made unless affidavit in the prescribed form is produced for each financial year separately by the depositor.


(f)  For issue of duplicate interest warrant for sums exceeding `200, the depositor should execute an indemnity bond as required by the Corporation.


(g) Interest warrants issued y the Corporation are encashable at par at all branches of HDFC /  IDBI Bank.





(a)  In the case of renewal of deposit, the depositor shall return the deposit receipt duty discharged in favour of the Corporation together with application form duly filled in.


(b)  In  the  case  of  refund  of  deposit,  the  depositor  shall  communicate  to  the Corporation, at least, one month in advance along with Fixed Deposit Receipt duly discharged for making payment. 


(c) In case the deposit is not renewed on maturity but recalled on a subsequent date, the Corporation is not liable to pay interest on the deposit amount from the date of maturity. Similarly if the request for renewal is received after 30 days from the date  of  maturity,  renewal  will  be  considered  only  from  the  date  of  receipt,  of renewal request. 


(d)  An application for change either by the primary depositor or by the joint holder or by both may be entertained at the time of renewal with consent of the depositors named in the original Fixed Deposit Receipt.


(e)  For repayment of Deposit, the Fixed Deposit Receipt has to be surrendered duly discharged  on `1  revenue  stamp.  In-the  case  of  Either  or  Survivor (E  or  S) Account, either depositor can give the discharge but payment will be made only to the first named depositor. 


(f)  If the existing deposit is renewed on maturity by adding further amounts by way of Cash / Cheque /Demand Draft, deposit receipt for the Consolidated amount will be issued only from the date of realisation of Cheque / Demand Draft or the date of maturity of the existing deposit whichever is later and interest  will accrue from such date only. 


(g) In the case of refund deposit to the outstation depositor, refund will be made by crossed A/c payee Cheque/Demand Draft at Company’s cost.





(a)  As per the directions of the Reserve Bank of India currently in force, the deposit shall not be repaid before the expiry of 3 months from the date of deposit.  In case of premature withdrawal after 3 months, interest shall be paid as follows :-


             i.After 3 months but before 6 months                 :    No  Interest

from  the date of deposit                  


            ii.After 6 months from the date of deposit             :    The Interest payable shall be 2%

                  but before  the date of maturity                          lower than the  contracted rate.


A months notice shall be given by the depositor for such withdrawal. If the deposit amount is less than `1,00,000 then 15 days notice will suffice.


(b) When the deposit held in joint names is sought to be prematurely withdrawn, the same should be discharged by all the surviving depositors, along with all the un-encashed post dated interest warrants, if any.





Loans will be permitted only to individuals on deposits up to 75% of the deposit amount under both the schemes, after the expiry of 3 months from the date of deposit. Interest will be charged at 2% above the interest payable on such deposits. Interest on the loan will be adjusted out of interest payable on deposits under Scheme I (PIPS scheme) and under Scheme II, the same will be compounded monthly and adjusted against the maturity . The loan can be closed either by remitting the loan amount in one lump sum before the maturity period of the deposit or it will be recovered out of the maturity value of such deposits on maturity or by remitting the loan amount alongwith interest in instalments upto a maximum of three instalments.





(a)  The Corporation will not recognize any lien on deposits. 


(b)  In the event of demise of first named depositor, all payments  will be made:             

Ø  to the person in, order of survivors in the case of joint depositor. 

Ø  to the legal heir / nominee of the depositor on the production of death certificate in the case of  single depositor. 


(c)  In the event of death of the first / joint depositor, on production of the death certificate, all correspondence will be made to the person in order of survival and payment of interest and repayment of the deposit will be made to him / her.


(d)  In the event of dispute over the claims of deposits, the Corporation reserves its right to withhold payment till the dispute is finally settled to the satisfaction of the Corporation after giving due information to the claimants thereof. 


(e)  If the deposit remains unrenewed, the Corporation is not liable to pay interest on deposits for the period under dispute. 


(f)  Where any payment falls due on Sunday / Bank holidays or any other day on which the office remain closed, the payment will be made on next working day. 


(g) All payments will be made only by means of Cheque/Demand Draft at our cost.


(h)  The Corporation reserves the right to reject any application for deposit without assigning any reason thereof. 


(i)  The Corporation, reserves the right to alter, amend / modify all or any of the conditions stipulated above without prior notice. 


(j)  All disputes will be settled subject to Thiruvananthapuram Jurisdiction only.


(k)  Change of address, instructions regarding interest remittance etc. will be given effect to only after 30 days from the date of receipt of such instructions.


•  The Maturity Value payable in case of cumulative deposits will vary where tax is deducted at source.   

•  In case of Change of Address of the depositor/s, residential address proof needs to be furnished.



Category Period For deposit below 25 lakh For deposit above 25 lakh
1 Year 10.25% 10.50%
2 Year 10.25% 10.50%
3 Year 10.25% 10.50%
4 Year 10.00% 10.25%
5 Year 10.00% 10.25%

Additional interest of 0.25% for Senior Citizen


Here you can download different application forms