This is to inform you that the Company has decided to revise Fixed Deposit Scheme of the Company w.e.f. 15th April, 2010 in the following manner:-
NON CUMULATIVE DEPOSIT
| Period in Months | Minimum Deposit | Rate of Interest (p.a.) |
| 12 | RS. 21,000/- | 8.25% |
| 24 | RS. 21,000/- | 8.50% |
| 36 | RS. 21,000/- | 8.75% |
Post dated quarterly interest warrants will be sent on financial year basis, in advance.
CUMULATIVE DEPOSIT
| Period in Months | Minimum Deposit Amount | Maturity Amount | Rate of Interest (p.a.) | Yield to Maturity (p.a.) |
| 12 | RS. 21,000/- | RS. 22,787/- | 8.25 | 8.50% |
| 24 | RS. 21,000/- | RS. 24,847/- | 8.50% | 9.16% |
| 36 | RS. 21,000/- | RS. 27,227/- | 8.75% | 9.88% |
- Amount payable on maturity (subject to deduction of tax at source, if any)
- Deposits are acceptable in multiples of Rs. 1,000/- above the minimum deposit amount.
- 0.25% extra interest would be paid, over and above the rate of interest as payable under cumulative and non-cumulative schemes, to the following:-
(i) Senior citizen (of 60 years and above) - age proof to be attached.
(ii) Shareholders of the company having minimum 100 shares – copy of latest shareholding to be attached.
We may add that now the PAN is mandatory for all fresh / renewal fixed deposit application. In the absences of PAN, the application form will be invalid/rejected.
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