Dewan Housing Finance Limited (DHFL) is offering fixed deposits at an interest of 9% per annum.
This is certainly much higher than the fixed deposit rates that most banks offer. If you are a shareholder of DHFL then you get an additional 0.25%, and I didn’t find any text that specified that you had to be a shareholder for at least x number of years, or anything to that effect. So, you could buy DHFL shares and bump up the yield by a bit.
A higher interest rate means that the risk is also slightly higher, but they offer good yields for periods as short as a year, and this combined with their AA+ rating from CARE does offer some confidence.
DHFL is offering two fixed deposit plans right now.
DHFL Aashray Deposits II
| CUMULATIVE SCHEME | ||||
| Period in Months | Interest Rate in % Deposit <Rs.25 Lac | Annual Yield % | Interest Rate in % Deposit Rs.25 Lac and above |
Annual Yield % |
| 12 | 9.00% | 9.20% | 9.25% | 9.45% |
| 24 | 9.10% | 9.75% | 9.35% | 10.03% |
| 36 | 9.25% | 10.38% | 9.50% | 10.70% |
| 48 | 9.00% | 10.55% | 9.25% | 10.90% |
| 60 | 9.00% | 11.06% | 9.25% | 11.43% |
| 72 | 9.00% | 11.60% | 9.25% | 12.01% |
| 84 | 9.00% | 12.17% | 9.25% | 12.61% |
| Minimum deposit Rs.2,000/-
Additional deposit in multiple of Rs.1,000/- |
||||
This scheme offers an additional 0.25% for senior citizens, widows, armed forces personnel, existing DHFL customers and shareholders.
DHFL Swayamsidha Deposit Scheme
This has got a slightly higher interest rate than the first scheme, but this is meant for women or joint deposits where women are the first holders.
Scheme Details:
| CUMULATIVE SCHEME | ||
| Period in Months | Interest Rate in % Deposit <Rs.25 Lac | Annual Yield % |
| 500 Days | 9.10% | 9.48% |
| Minimum deposit Rs.10,000/- Additional deposit in multiple of Rs.1,000/- |
||
The scheme offers an additional 0.25% for women senior citizens.
If you are interested in these plans, you can go to their website through the links given in this post and ask them to contact you via phone or email.
Cumulative Scheme:
| CUMULATIVE SCHEME | ||||
| Period in Months | Interest Rate in % Deposit <Rs.25 Lac | Annual Yield % | Interest Rate in % Deposit Rs.25 Lac and above |
Annual Yield % |
| 12 | 9.00% | 9.20% | 9.25% | 9.45% |
| 24 | 9.10% | 9.75% | 9.35% | 10.03% |
| 36 | 9.25% | 10.38% | 9.50% | 10.70% |
| 48 | 9.00% | 10.55% | 9.25% | 10.90% |
| 60 | 9.00% | 11.06% | 9.25% | 11.43% |
| 72 | 9.00% | 11.60% | 9.25% | 12.01% |
| 84 | 9.00% | 12.17% | 9.25% | 12.61% |
| Minimum deposit Rs.2,000/-
Additional deposit in multiple of Rs.1,000/- |
||||
Ratings:
Loading ...
{ 1 trackback }
{ 7 comments… read them below or add one }
I have never invested in company fixed deposits. Your analysis gives little confidence to explore more about it. Just one quick question, you said more risk. If it is a fixed deposit, what’s the risk in here?
The risk is if the company defaults. Though it is not very common, it can still happen. Just think about how Dubai was close to a default a few months ago, or how Greece is close to a default now. Although it looks like Greece will be bailed out, if it does default then the creditors who invested in its debt will not get 100% of their money back.
right. thanks for explaining.
I am very much worried to invest any of Indian Company. Pl. you tell me what is RBI or Sebi rating of your Company’s Fixed Deposit.
My e-mail address is mentioned above.
Partha
I want to invest 3 lacs of rupees for long term (5-10years). Pl. let me know the secure way of investment in company or scheam which will give me highest returns.
i invested in DHFL fixed deposit for 84 months in April 2010 selecting quarterly option of interest payment (selected the ECS option)
Please note my experience
a) I got the FDR on time
b) I was expecting the interested to be credited by ECS by 1st july 2010. The interest did not come on time
c) When i call the Corporate Office and ask for FD Department, they just hang up the phone
i tried for 5 times, same results
d) Calling up the Registered office and when i complaint about the receptionist of the Corporate office, they said that they are like that only and i was given the number of the fixed deposit department
e) upon contacting the fixed deposit department, i found that they misplaced my blank cancelled cheque and wanted me to send them again, they did not have answer on i) how was cheque misplaced?
ii) who will compensate for the delay?
iii) why was no communication send to my postal address or phone call not made?
f) After sincere assurances from the FD department that they will do the needful on a priority basis after they receive the blank cancelled copy of the cheque, they did not do anything
in short, if everything goes smooth it is fine, else the company behaves like a government company, and god forbid if you have to communicate with this company later on