GRUH Finance Limited Fixed Deposits, Corporate Fixed Deposits, Tax Saving Investments - MyUniverse
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Gruh Finance Ltd

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GRUH has been recognized by National Housing Bank(NHB),the apex body for regulating the Housing Finance Industry in India. GRUH has been awarded the Certificate of Registration from NHB to carry out the housing finance business in India and also accept retail deposits from the public.



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CREDIT RATING : CRISIl-AAA
SCHEME :

TENURE :
RATE OF INTEREST% : 7.00%
MINIMUM AMOUNT : 20000

SENIOR CITIZEN :

(Sr citizen's are entitled to get 0.25%additional interest. Select
this check box If have completed 60 years of age.)

Interest Rates
PERIOD NON CUMULATIVE SCHEME
Yearly %
(p.a)
Half Yearly % (p.a) Quaterly % (p.a) Monthly % (p.a)
CUMULATIVE YIELD
% (p.a)
12 Months 7.50% NA 7.25% 7.00% 7.50%
24 Months 7.75% NA 7.50% 7.25% 7.75%
36 Months 8.00% NA 7.75% 7.50% 8.00%
ABOUT Gruh Finance Ltd



GRUH Housing Finance a subsidiary of HDFC Ltd was incorporated on 21st July 1986 under the Companies Act 1956. The Company is engaged in the business of providing long term housing finance to Individuals / Company / Corporation / Society / Association of persons for construction / Purchase / Enlargement if residential houses / dwelling units anywhere in India.

GRUH has been recognized by National Housing Bank(NHB),the apex body for regulating the Housing Finance Industry in India. GRUH has been awarded the Certificate of Registration from NHB to carry out the housing finance business in India and also accept retail deposits from the public.





Credit Rating:

AAA+ by CRISIL  & MAA+ by ICRA 


Minimum Amount 
Under Cumulative Growth Plan:
Minimum amount Rs 1000 and additional amount of deposits will be accepted in multiples of Rs 1000.

Under Annual Income Plan & Quarterly Income Plan
Minimum amount Rs 2000 and additional amount of deposits will be accepted in multiples of Rs 1000.
 
Under Monthly Income Plan
Minimum amount Rs 20000 and additional amount of deposits will be accepted in multiples of Rs 1000. 


Maximum Amount : No Limit.


Premature Withdrawals 
After 3 months but before 6 months: No Interest 

6 months but before the date of maturity: 2% less than the rate at which interest would have been ordinarily paid had the deposit been accepted for the period for which such deposit had run or if no rate is specified for that period, then 3% lower than the minimum rate at which the public deposits are accepted by GRUH<br/>


Cheque / Demand Draft 
Chq/ DD should be drawn on "GRUH FINANCE LTD" and crossed "Account Payee only”


Tax Deduction at Source

Income tax will be deducted at source from the amount of interest payment to the depositor in accordance with the provision of the Income Tax Act, 1961. At present tax is deductable if the aggregate amount of interest payment to a resident during a financial year exceeds Rs 5,000/-. However Income Tax will not be deducted if declaration in Form 15G/15H, in duplicate, as prescribed under the Income Tax Act, 1961.


Deposits Raising Limits

The amount of Public Deposits which the Corporation can raise under the Housing Finance Companies (NHB) Directions, 2010 is equivalent to 5 times of the net owned funds i.e. Rs. 85,741.20 crores whereas the total Public Deposits as on March 31, 2012 was Rs.28,203.79 crores. The amount of aggregate deposits, including Public Deposits, which the Corporation can raise is 16 times of the net owned funds i.e Rs.2,74,371.84 crores whereas the aggregate deposits as on March 31, 2012 was Rs.1,39,127.50 crores.<br/><br/>


Risk Factors 
The deposits are unsecured and rank pari passu with other unsecured liabilities of the Company

Please refer to the respective application form for detailed terms and conditions.



Eligibility:
1. Resident Individuals
2. Hindu Undivided Families (HUF) through their Karta.
3. Minors (through Natural Guardians)
4. Partnership Firms
5. Co-Operative Societies & Association of Persons

Cheque / Demand Draft :
Chq/ DD should be drawn on "GRUH FINANCE LTD" and crossed "Account Payee only”



Top Rated Companies

Company Ratings Interest%
Mahindra & Mahindra Financial Services Ltd CRISIL -FAAA 9.25%
Bajaj Finance Ltd FAAA 9.75%
Shriram Transport Finance Co. Ltd CRISIL-FAA+ 9.25%
PNB Housing Finance Ltd FAA+/Stable 9.65%
HDFC Ltd CRISIL-FAAA 9.25%
Gruh Finance Ltd CRISIl-AAA 9.00%
*Interest rates offered by the companies are subject to change with or without giving any prior notice.

Fixed Deposit Calculator

This Fixed Deposit (FD) Calculator helps you find out how much interest you can earn on an FD and the value of your invesment (Principal) on Maturity when compounding of interest is done on a monthly, quarterly, half-yearly or yearly basis.

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