HDFC Limited Fixed Deposits, Corporate Fixed Deposits, Tax Saving Investments - MyUniverse
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Aditya Birla Money My Universe :: Investments

HDFC Ltd

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Housing Development Finance Corporation Limited (HDFC Ltd.) was established in 1977 with the primary objective of meeting a social need of encouraging home ownership by providing long-term finance to households.
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CREDIT RATING : CRISIL-FAAA
SCHEME :

TENURE :
RATE OF INTEREST% : 7.95%
MINIMUM AMOUNT : 40000

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 NA 8.10% 8.00% 7.95% NA
24 Months 8.25% 8.10% 8.00% 7.95% NA
ABOUT HDFC Ltd


Housing Development Finance Corporation Limited (HDFC Ltd.) was established in 1977 with the primary objective of meeting a social need of encouraging home ownership by providing long-term finance to households. Over the last three decades, HDFC has turned the concept of housing finance for the growing middle class in India into a world-class enterprise with excellent reputation for professionalism, integrity and impeccable service.


HDFC also has a robust deposits mobilization programme. HDFC has been able to mobilize deposits from over 10 lac depositors. Outstanding deposits grew from Rs. 1,458 crores in March 1994 to Rs 24,625 crores in March 2011. In addition, HDFC has received 'AAA' rating for its Deposit products for highest safety from both CRISIL and ICRA for seventeen consecutive years.



Credit Rating :

Highest Safety - AAA rating from both CRISIL and ICRA


Minimum Amount :

Under Cumulative Scheme & Non Cumulative Scheme (Half Yearly Plan) -- Minimum amount Rs 20000 and additional amount of deposits will be accepted in multiples of Rs 1000.




Eligibility :

1. Resident / Non-Resident Individuals (NRI's)
2. Hindu Undivided Families (HUF) through their Karta
3. Minors (through Natural Guardians)
4. Partnership Firms
5. Co-Operative Societies & Association of Persons
6. Public & Private Ltd Companies

Premature Withdrawals :
After 3 months but before 6 months: No Interest
6 months but before the date of maturity:
The interest payable shall be 2% lower than the interest rate applicable for the period for which the deposit has run or if no rate has been specified for that period, then 3% lower than the minimum rate at which the public deposits are accepted by HDFC. In respect of variable rate deposit, the interest rate applicable for the period for which deposit has run would be considered as applicable on the respective interest reset dates.

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.

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.

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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Tenure Period
| 1 | | | | | | | | | | | 30 |years
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