As you are aware that there are amendment in acceptance of deposits from public as per new company act 2013. Stop accepting fresh/renewals in corporate deposits (Manufacturing Co’s) like JP, SRS, Omaxe, Network18, Kirlosker , Gati, Godrej etc. with immediate effect.
It is further clarified that as the amendment has not effected rules for NBFC’s like HDFC, Bajaj, DHFL, KTDFC, Shriram, Mahindra, LIC, PNB, Hudco etc. you are advised to continue collecting applications for NBFC’s
Two type of schemes offer by NBFCs
1. Cumulative Option – This scheme pay interest at the time of of maturity with principle.
2 . Non Cumulative option – Non cumulative option pay off the interest earned on investment on regular basis. Monthly, Quarterly, Half yealy & Yearly option available.
Interest Rate for Cumulative Option
| Company | Rating | 1 Yr | 2 Yr | 3 Yr | 4 Yr | Sr.Citizen | Min Inv | Int. Mode |
|---|---|---|---|---|---|---|---|---|
| Bajaj Finance Ltd | FAAA | 9.75% | 9.75% | 10.00% | 9.75% | 0.25% | *** | M/Q/H/Y |
| Deewan Housing | AA+ | 10.00% | 10.00% | 10.00% | 10.00% | 0.50% | 10000 | M/Q/H/Y |
| Deewan Housing -Ashray Deposit | AA+ | 10.50% | for | 14 M | 0.50% | 10000 | ||
| Gruh Housing Finance | FAAA | 9.25% | 9.50% | 9.50% | 9.25% | 0.25% | 1000 | M/Q/Y |
| HDFC | FAAA | 9.25% | 9.25% | 9.25% | 9.00% | 0.25% | 20000 | M/Q/H/Y |
| HDFC Platinum Deposit | FAAA | 9.60% | 15 M | 9.50% | 33 M | 0.25% | 20000 | |
| KTDFC | 10.25% | 10.25% | 10.25% | 10.00% | 0.25 | 10000 | Q/Y | |
| LIC Housing Finance | FAAA | 9.00% | 9.25% | 9.40% | 10000 | H | ||
| Mahindra Finance | FAAA | 9.25% | 10.00% | 10.25% | 9.75% | 0.25% | 10000 | Q/H |
| PNB Housing Finance | FAA+ | 9.65% | 9.40% | 9.40% | 0.25% | 20000 | H | |
| Shriram Unnati | FAA+ | 9.25% | 9.75% | 10.75% | 10.75% | 0.25% | 25000 | Q/H/Y |
Dewan Housing Finance Corporation Ltd.
- Engaged in Housing Finance.
- Consistent profit making and Dividend paying Company.
- PAT for 2012/13 of Rs.451 Crs. & Dividend of 50%.
- “FAAA” by BWR & “(AA+FD)” rating by CARE.
- EPS for Q1FY14 stood at Rs. 9.38 per share
- Compounded Half Yearly
- Interest Option available: Monthly,Quarterly,Half Yearly & Yearly
DHFL Fixed Deposit Rate – Non Cumulative
Gruh Finance Limited
- A Subsidiary of HDFC Ltd, its a Housing Finance Company recognized by National Housing Bank.
- Consistent profit making and Dividend paying Company.
- PAT for 2010/11 of Rs.146 Crs. & Dividend of 125%.
- “FAA+” rating by CRISIL & “MAA+” by ICRA.
- 0.25% additional interest for Senior Citizens & Trusts.
- Compounded Annually
- Interest Option available: Monthly,Quarterly & Yearly
HDFC Platinum Deposit
- Engaged in Housing Finance
- Consistent Profit making & Dividend paying Company
- “FAAA” rating by CRISIL & “MAAA” rating by ICRA.
- 0.25% additional interest for senior Citizens
- Interest option available : Monthly, Quarterly, Half Yearly & Yearly
Mahindra Finance
- Consistent Profit making & Dividend paying Company
- “FAAA” rating by CRISIL
- 0.25% additional interest for senior Citizens
- Interest option available : Quarterly, Half Yearly
PNB Housing Finance
- Engaged in Housing Finance
- Consistent Profit making & Dividend paying Company
- “FAAA” rating by CRISIL & “MAAA” rating by ICRA.
- 0.25% additional interest for senior Citizens
- Interest option available : Monthly, Quarterly, Half Yearly & Yearly
Bajaj Finance Ltd
- Bajaj Finance is the holding company for the financial services business of the Bajaj Group.
- “FAAA” rating by CRISIL
- Engaged in Consumer Finance, SME Finance, Commercial lending
- Interest Option available: Monthly, Quarterly, Half Yearly & Yearly
- For Application Form & Investment
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Point to be Note before Investing in Company Fixed Deposit
- Always Invest in good track record company : Any company which has strong track record of performance & profit generation. Check companies Balance Sheet for last 5 years.
- Check out Company reputation : If the company has already issued such FD scheme in the past, then you can check if they made timely interest payout & proper principal repayment.
- Check company rating Ignore the unrated Company Deposit Schemes. Ignore deposit schemes of little known manufacturing companies. For NBFCs, RBI has made it mandatory to have an ‘A’ rating to be eligible to accept public deposits. One should go further and look at only AA or AAA schemes
- It is better to make shorter deposit of around 1 year to 3 years. This way, you can not only keep a watch on the company’s rating and servicing, but also have your money back in case of an emergency.
- Don’t Renew your FDR. First redeemed then if you want to reinvest again. This process help you to check companies service issues. If your Maturity amount credit in your account late then you decide can process again or not.
- Sector Selection : It is important to make sure that the sector to which the company belongs is a well performing one. So, make sure that you study the sector of the company and figure out if the sector is expected to perform steadily over the next 2-3 years.
- Interest Rate factor : If company offer Interest Rate very high, it show that company is desperate to raise money and is willing to offer an unusually high rate of interest to attract investor. Depends upon you invest in this type of company or not.
- Diversify Don’t invest all money in single company, select min. 4-5 company for investment. Don’t put more than 10% of your investment in any particular single companies FD.
- Involve your Financial Planner / Investment Adviser for advice in all your transactions. Do not bypass and invest directly. Adviser know about current market condition about specific company. Also trace yourself also. Some company pay higher brokerage for their product avoid this company.
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