National Housing Bank (Wholly owned by Reserve Bank of India) offer Fixed Deposit Scheme SUVRIDDHI 9.25%  (Annualised yield 9.58%) Interest rate for this scheme.

Deposit Amount Minimum of Rs. 10,000 and higher in multiples thereof up to maximum of Rs. 1,00,000/- per financial year.

Who can deposit: Individuals / HUF 

Interest option under the Scheme: Cumulative Interest Option / Non- Cumulative Interest Option.

Tax Benefit under Section 80C- Notified by CBDT published in Extraordinary Gazette of India dated 5th January, 2009 S.O.21 (E).

Nomination: Available

TDS on interest: Deduction of Income-tax at source from interest payments will be governed by the provisions of the Income Tax Act, 1961, as in force from time to time, and the rules frame there under. As per the present provisions U/S 194A of the Income Tax Act, 1961, interest upto Rs. 5000/- in a financial year is exempt from deduction of tax at source.


NHB has been established to achieve, inter alia, the following objectives –

  1. To promote a sound, healthy, viable and cost effective housing finance system to cater to all segments of the population and to integrate the housing finance system with the overall financial system.
  2. To promote a network of dedicated housing finance institutions to adequately serve various regions and different income groups.
  3. To augment resources for the sector and channelise them for housing.
  4. To make housing credit more affordable.
  5. To regulate the activities of housing finance companies based on regulatory and supervisory authority derived under the Act.
  6. To encourage augmentation of supply of buildable land and also building materials for housing and to upgrade the housing stock in the country.
  7. To encourage public agencies to emerge as facilitators and suppliers of serviced land, for housing.


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