- 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 month, which gets added to the principal.
A Fixed Deposit is one of the best investment plans at Thangamayil, where one can invest a specific sum for a fixed period. One can draw the best benefit out of fixed deposit scheme if he prefers 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 receive regular income in the form of interest payments paid online through RTGS/NEFT, needless of manual intervention at both ends.
Salient Features & Benefits
- Only those Indian citizens who are not minors as per the act enacted by the Government of India as per the Majority Act of 1875 are eligible to enroll in the scheme.
- Deposits will be accepted only in multiples of Rs. 1,000/- subject to a minimum of Rs. 10,000/-.
- Interest will be calculated from the date of realization of the cheque or 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 should be crossed as "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
- If the customer misplaces the Original Order Form issued, TMJL may, upon the receipt of a written request (to this effect from the customer) and an affidavit stating that the Order Form has been misplaced, issue a copy of the Order Form to the customer, at his/her own expense.
- This scheme is unique and will not be clubbed with any other offers or discounts.
- It is at the sole discretion of TMJL to alter, amend, modify, add or delete any of the terms and conditions from time to time and at the discretion of the Management.
- By subscribing to this plan, the customer expressly agrees to receive calls, text messages, electronic mails, auto-dialled & pre-recorded calls, messages or mails from TMJL, or from affiliates, marketing partners, agents and others on behalf of TMJL, in connection with the plan, to the contact details provided by the customer.
- Any disputes are subjected to arbitration of the sole arbitrator nominated by the Chamber Arbitration Tribunal (CHAT)
- TMJL may, at any time, verify the purity of the gold bars / coins / jewellery on the Carat Meter. For this purpose, TMJL may cut the gold brought in by the customer into several pieces before accepting them. Accordingly, prior to this process, the customer will sign a written document consenting to the verification process, to the potential damage to the gold bars / coins / jewellery so deposited with TMJL and affirming that the customer is the lawful owner of the said gold, in the form provided.
- If the purity of gold brought in by the customer is not of the required standard, TMJL will, in such cases, have exclusive rights to outrightly reject the gold and return the same to the customer, without direct or indirect liability of any kind on TMJL’s part, which may arise as a result of the aforementioned verification process.
All communications with regard to Fixed Deposit should be addressed to the corporate office mentioned below.
FAQWhat are the various schemes of Fixed Deposit?
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
It is necessary for the legal representative of the depositor to produce a death certificate / succession certificate / Letter of Administration of the Will, for the approval of the company in this regards.
- 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.
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.
We care for the layman and see to that payment process doesn’t cause much strain. You can deposit the installment through any of our stores, merchant stores or bank.
|1||Payment at Thangamayil Showroom|
|2||Payment at Vodafone store or Mini Store|
|3||Payment via Bank Transfer Account|
Please click here to reach the exclusive page on Direct Payments which elucidates the payment mechanism.
You may click here to have a glance at the host of online payment methods supported by Thangamayil Jewellery.