Fixed Returns

Attractive FD schemes from popular Companies to suit Investors looking for safety with decent return.

Dewan Housing Finance Corporation Ltd – Aashray Deposit

* Engaged in Housing Finance.
* Consistent profit making and Dividend paying Company.
* PAT for 2010/11 of Rs.265 Crs. & Dividend of 35%.
* “(AA+FD)” rating by CARE & “FAAA” by BWR.
* 10.75% interest for 400 Days Deposit giving an yield of around 11.12%.
* 0.50% additional interest for Senior Citizens.

HDFC Platinum Deposits

* Engaged in Housing Finance.
* Consistent profit making and Dividend paying Company.
* PAT for 2010/11 of Rs.3,535 Crs. & Dividend of 450%.
* “FAAA” rating by CRISIL & “MAAA” by ICRA.
* 10% interest for 15 months & 33 months Deposits.
* 0.25% additional interest for Senior Citizens.

Mahindra Finance Samruddhi

* Largest Company of our Country in non-banking finance companies with a history of 20 years.
* Consistent profit making and Dividend paying Company.
* PAT for 2010/11 of Rs.464 Crs. & Dividend of 100%.
* “FAAA” rating by CRISIL.
* 10.50% interest for a 3 years Deposit giving an yield of around 11.64%.
* 0.25% additional interest for Senior Citizens.

Shriram Transport Unnati

* Largest Company of our Country in Commercial Vehicle Finance with a history of 30 years.
* Consistent Profit making & Dividend paying Company.
* PAT for 2010/11 of Rs.1230 Crs. & Dividend of 65%.
* “FAA+/stable” rating by CRISIL & “MAA+/stable” by ICRA.
* 10.75% interest for a 3 years Deposit giving an yield of around 12%.
* 0.25% additional interest for Senior Citizens.

Shriram Transport Finance Company Limited – Public Issue of Secured Non Convertible Debentures

Issue Size
Rs. 1000 crs. ( Rs.500 crs + Rs.500 crs Green Shoe option)
Face Value
Rs.1000
Retail
Rs.400 crs (Rs.200 cr + Rs.200 cr Greenshoe Option)
Individual HNI
Rs.400 crs (Rs.200 cr + Rs.200 cr Greenshoe Option)
QIB/NII
Rs.200 crs (Rs.100 cr + Rs.100 cr Greenshoe Option)
Market Lot
Minimum 10 NCDs there after 1 NCD each
Issue Period
June 27, 2011 to July 09, 2011
Credit Rating
‘AA/Stable’ by CRISIL ‘CARE AA+’ by CARE
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Details of Mahindra Finance new Fixed Deposit scheme

Mahindra Fixed Deposit – FAQs

What is the difference between form 15G and form 15H?
Form 15G is meant for Resident Individuals who are below 60 years of age. 15H is meant for Senior Citizens who are of 60 years of age or more during the financial year.
What are the schemes of deposits available?
Cumulative as well as non cumulative schemes are available for deposits.
What is the difference between a Non cumulative deposit and a Cumulative deposit?
In a ‘Non cumulative scheme’ the interest is payable on a half yearly or quarterly basis. The scheme will be convenient for pensioners who require a periodical interest payment. In the ‘Cumulative deposit scheme’, the interest is payable at the time of maturity along with the principal. This scheme is suitable for people who do not require periodical interest payments and this can be thought of as a money multiplier scheme.
What is the minimum deposit amount for the Cumulative Deposit & the Non cumulative Deposit schemes?
The minimum amount under the cumulative deposit scheme is Rs. 10,000/- and under the non cumulative scheme is Rs. 25,000/- half yearly and Rs. 50,000/- quarterly.
How do I tender the amount for the deposit?
The amount can be tendered by means of a Cheque/DD issued in favour of Mahindra Finance- Fixed Deposit and submitted to a HDFC Bank collection centre. Alternatively, the depositor can send the DD Payable to the corporate office at Mumbai.
Is there a prescribed form for making deposits?
Yes. An application for the deposit should be made on the prescribed form of the respective companies.
If the parents of a minor are not alive then who is to be deemed as the Guardian?
Only the person(s) who have been appointed as guardian(s) by the Competent Court should sign the application. A copy of the Court Order has to be submitted to us.
Can a deposit be made in the name of minor alone?
Yes. You can make a deposit solely in the name of the minor. However, there is also an option of making a deposit in the name of minor along with one or two individuals. In the case of a minor, the date of birth of the Minor should be indicated in the deposit application form in the space provided. In the case of Hindus, the application form should be signed by the father or the mother of the Minor. In case of minors belonging to the Muslim religion, only the father should sign the application form as the guardian.
Can a Power of Attorney (POA) holder sign the deposit application form?
Yes. A copy of the Power of Attorney is to be obtained and filed by the depositor.
Is there an extra interest rate for senior citizens?
Yes, Senior Citizens will get an additional rate of 0.25% per annum.
Can a joint account be maintained?
Yes, a maximum of three people can maintain a joint account which would be payable to “Anyone or Survivor” or “No.1 or Survivor”. ANYONE OR SURVIVOR (A OR S) – On maturity, the deposit receipt can be discharged by anyone of the depositors. However, for a premature payment and loan all the depositors signatures are required.
Can a Trust invest in FD?
Yes. A non charitable registered trust can invest in an FD.
Can a company invest in FD?
Yes. A company can invest in FD’s.
What is the Bank on which your Interest Warrants are drawn?
All Interest warrants are drawn on HDFC Bank, Mumbai, payable at par at all HDFC branches in India without any charges.
Can you send the Interest warrants favouring the second depositor?
No. The interest will be paid to the first depositor only.
What happens if the prevalent interest rates come down?
There will be absolutely no change as we are obliged to pay the contracted rate till its maturity as per the current rules.
What happens if the prevalent interest rate goes up?
The decision rests solely upon the directives of the Reserve Bank of India. If the Reserve Bank of India is specific that the increase should bear a prospective effect from a particular time, it cannot be done immediately. The revised rates will apply only to fresh deposits and renewals. However, the benefit of the revision can be passed on to the existing depositors by a process of `Premature renewal’ subject to RBI rules.
Will Income Tax be deducted at source from interest?
It is obligatory on our part to deduct income tax at source if the estimated annual interest paid/credited on a deposit account exceeds Rs.5000. However, Non Assessees (individuals, HUF, Trust) can avoid such deduction by furnishing a self-declaration in the Forms 15G/H
Can you open more than one account in the same order of names?
No. All deposits held in the same name, or in the same order of names (in case of joint deposits) are required to be clubbed together for the purpose of calculation of income tax
What is Form 15G/15H and where do I get it from?
Form 15G/15H is a self declaration by the depositor which can be obtained from the company. It is a self declaration which needs no attestation by anybody except in the case of Left Hand Thumb impression which needs to be attested by a Gazetted Officer/Bank Official. Since a copy has to be retained in our files and one copy has to be sent to the IT dept. it is required to be furnished in duplicate.
Is it not enough to furnish the Form once at the time of placing the deposit?
No. Since there may be changes in the Income Tax laws, the Form 15G/15H is required at the beginning of each financial year or at the time of deposit, where applicable
If Form 15H is furnished, will there by any query from Income tax dept.?
Since one copy of the Form 15G/15H is required to be sent to I.T.O. it is possible that the I.T.O. may raise some query, when they deem it necessary.
In case of salaried persons, if the Income Tax is deducted at source from salary, can s/he furnish Form 15G/15H?
No. As s/he is an Assessee, the Form 15G/15H cannot be furnished.
In case there is an urgent need of money can a withdrawal be made from the deposit?
According to the directions of the RBI no withdrawal of deposits can be made within three months from the date of deposit renewal.
Can a withdrawal be made from the deposit after 3 months?
Yes. A Premature withdrawal can be done after 3 months from the date of deposit/renewal as per the Directions of Reserve Bank of India and the Terms and Conditions of the company.
Can premature proceedings be paid favouring the second/third depositor?
No. Premature payments will be made to the first depositor only.
Will the deposit be paid back in cash?
No. The deposit will not be paid back in cash.
Can you send the payments directly to the depositor’s bank?
Yes. The payments can be sent directly to your bank after informing the depositor of the same.
Will you allow a loan on the deposit?
As per the RBI’s directives, we are allowed to a grant loan up to 75% of the deposit amount after 3 months from the date of deposit.
What is the rate of interest chargeable for loans?
A 2% over and above the contracted rate of interest can be charged for the loans.
If the sole depositor dies, what are the documents required?
An attested copy of Death Certificate, Term Deposit Receipt, Will or testamentary disposition, if any, or an attested copy of Legal Heirship Certificate issued by a Tahsildar /Corporation.
Do you accept NRI deposits?
No. NRI deposits are not accepted.

Download FD Form and Interest Details