Tata Motors recently announced its Fixed Deposit plan, which is open for subscription to Resident Indians, NRIs, HUFs and Registered Societies, among others.
The fixed deposit plan has generated quite a bit of excitement, as it gives a yield of 12.83% on its 3 year — Cumulative Deposit Plan. Remember, this is the yield and not the interest rate. The interest rate remains 11%, which is still pretty high for a fixed deposit.
I think the frenzy generated by the launch of Tata Nano — the cheapest car in the world has easily over-shadowed the credit downgrade of Tata Motors to B+ by S&P (second one since last December).
From FT:
“S&P cited deteriorating cashflow stemming from Tata’s $2.3bn acquisition last year of Ford’s Jaguar and Land Rover marques as among the reasons for the downgrade – the second by S&P since December.”
Tata Sons is the parent company of Tata Motors and is one of the oldest, biggest and most reputed Indian conglomerates. So it is difficult for most Indians to even consider the idea that Tata Motors will default on its debt — S&P or no S&P, and of course the recent crisis where large banks and insurers are stuck holding toxic / legacy — AAA paper — has raised a lot of questions on the credit rating agencies themselves.
Tata Motors Fixed Deposit Plan Schemes
Here are the two schemes that an investor can choose from:
Scheme A
Quarterly Income Plan
Scheme B
Cumulative Deposit Plan
Tata Motors Fixed Deposit Plan – For NRIs
NRIs can invest in the Fixed Deposit Plan if they deposit the amount from their NRO Account and this amount doesn’t represent an inward transfer from a NRE / FCNR (B) account. Interest will be deposited in this NRO Account and NRIs need to submit their Indian address while making the application.
Tax Deduction at Source
Tax will be deducted on source from the interest of this Fixed Deposit Plan according to the provisions of the Income Tax Act 1961 for residents and NRIs.
For NRIs — the tax will be deducted at source, as the current provisions of Income Tax Act 1961 doesn not allow interest exemption on interest earned from deposits with companies.
Subscription to Tata Motors Fixed Deposit Plan
You can subscribe to this plan through your broker. ICICI Direct has a link to it where you can subscribe to it online. If your broker doesn’t have the facility to subscribe to this plan — then you can also submit the application form at select bank branches.
Tata Motors Contact Page
This site is not related to the Tata Motors FD in any way, and if you applied for the FD and haven’t received any acknowledgment, please go to the Tata Motors page for investors.
Link for Tata Motors Investors Page
On this page, there is a phone number that you can call, and an email address that you can use to write to them about your concerns. Please use those resources to get an answer to your question.
Image Source: Tata Nano Gallery
Disclosure: I have not applied to this fixed deposit plan at the time of writing.
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Update: Tata Motors Investor Relations link included at the end of the page.
going to be the first time invester in tata motors FD.
Yes – I want to do FDs in Tata Motors.
Can you send me the details of rate of interest etc. and the schemes to my above mail id. so as to make investment.
Also send me the forms and where the same have to be submitted with address and telephone numbers etc.
dear mr krishnan thnx for your interest
would appreciate if you could provide with you mail id
or u can send a test mail to my id apsfinserv@gmail.com.
regards padmanabhan k 9821055617
I WANT TO INVEST IN FD CUM SCHEME B.
PL ADVISE ME.
CONTACT NO 9371810433
E MAIL crs2003_in@yahoo.co.in
I wish to invest in tata motors .
Pl call me on 924607022
I want to invest in TATA MOTORS FIXED DEPOSIT SCHEME,
call me on : 09319499860 Agra Uttar Pradesh
Dear Sir,
Please guid the invest process
REgards,,,,,,,,,,,,,,Binod
9370717616
Myself and my wife Srojini Shukla have already subscribed but we have not received any intimatation although one month has passed. Tata motors must send me the intimation immediately.
I want to invest in TATA MOTORS FD scheme
suggest me
I want to invest in TATA MOTORS FIXED DEPOSIT SCHEME
pls call me on :9509836639
Hi,
I have already invest into TATA MOTOR FD Scheme…GOOD opportunity…
Must invest in it…
I want to invest in TATA MOTORS FIXED DEPOSIT SCHEME,URGENTLY,
pls call me on :9924078784.
I WANT TO INVEST IN TATA MOTORS FD .PLEASE REVERT ME BACK AS SOON AS POSSIBLE.
Sir I am interested to invest few money in your scheme can I invest online or suggest me other ways for investment
I am wating your suggestion.
Thanks
SUSHIL SHASTRI
i am staying in sector-17,faridabad and would like to invest in tata motors fixed deposit scheme.please provide me with the current details .also give me the contact person details in faridabad
Hi,
I want some onformation about Fixed Deposite in TATA Motors so pls inform me for investment.
Thanks.
Regards,
Maulik Gor
+91 95587 77277
Whether Fixed Deposit Plan OF 11% for three years deposit is still continuing?
Thanks
Latest Interest Rate for Fixed Deposit Scheme. For Senior Citizen, whether extra Interest Rate is available?
dear mr desai
wish you & your Family a very Happy Deepawali
pls find below the rates
my area of specialization is to provide my clients best Financial solutions
based on thier Future Financial goals
hope we could get together and understand more
regards
Tata Motors Ltd. ( From 26th Aug 09 ) 20000 8% for 24 months 8.75 36 months Qtrly/cum
Senior Citizen/ Shareholder – 0.25 % p a extra Minimum Amt 1 Lakh & above
fyi
padmanabhan k iyer
09821055617
I am interseted to deposit some money in your company. Whether this scheme is still continuing? Whether you also give some senior citizen incentive?
Kindly send the forms on line
dear dr.Y.singh
wish you & your Family a very Happy Deepawali
pls find below the rates
my area of specialization is to provide my clients best Financial solutions
based on thier Future Financial goals
hope we could get together and understand more
regards
Tata Motors Ltd. ( From 26th Aug 09 ) 20000 8% for 24 months 8.75 36 months Qtrly/cum
Senior Citizen/ Shareholder – 0.25 % p a extra Minimum Amt 1 Lakh & above
fyi
padmanabhan k iyer
09821055617
Reply to my querry has not been given . How can I give my comments.
mpshukla
dear mr shukla
pls find below the rates
my area of specialization is to provide my clients best Financial solutions
based on thier Future Financial goals
hope we could get together and understand more
regards
Tata Motors Ltd. ( From 26th Aug 09 ) 20000 8% for 24 months 8.75 36 months Qtrly/cum
Senior Citizen/ Shareholder – 0.25 % p a extra Minimum Amt 1 Lakh & above
fyi
padmanabhan k iyer
09821055617
Can I invest in Tata Motors Fixed Deposit Scheme no and if so what is last Date.
Some agent can cotact me urgently.
mpshukla
I wish to contact Tata Motors reg.FDR No.233740.Could I please have their email address.
Here is the link that has their contact information:
http://ir.tatamotors.com/?CardID=18
This is the email listed on the page:
inv_rel@tatamotors.com
Hi,
I want to invest in TATA Motors so kindly Provide the details about ue scheme like Interest Rate.
Sudha gupta did not recd FD of 50000=00 .Cheque was of BOI INDORE