DHFL’s Aashray Deposit Plus offers attractive returns

Minimum deposit amount is Rs 10,000

January 29, 2014 4:32 IST | India Infoline News Service
DHFL, India’s second largest housing finance company in the private sector, today announced the launch of an attractive variant of its Fixed Deposit product ‘Aashray Deposit Plus’ which enables investors to double their investment within a period of 80 and 86 months, basis definitive parameters. This makes the DHFL FD product range attractive in terms of returns, with the added benefit of safety with CARE AA+ (FD) and Brickworks BWR FAAA credit rating.
‘DHFL’s Aashray Deposit Plus Double My Money’ can be availed by individuals, joint individuals, minors, proprietorship concerns, partnership firms, companies, trusts, associations clubs etc. at a minimum deposit amount of Rs 10,000 and thereafter in multiples of ? 1000 from any of DHFL’s branch offices across India.
Mr. Rakesh Makkar, President & CDO, DHFL stated, “DHFL Aashray Deposit Plus Fixed Deposit offers attractive product variants for retail investors, combining the dual benefit of attractive returns with safety, especially in a volatile market environment.  The new variant of DHFL Aashray Deposit Plus allows doubling of investments in a maximum of 86 months as against the industry average of 93 months. With the addition of this new variant, DHFL’s Aashray Deposit Plus is enriched with a wider range of options for investors to suit unique individual requirements.”
This announcement follows the recent notification of the National Housing Bank (NHB) on lifting the cap of seven years for HFCs’ deposit taking.
Under the new variant of DHFL Aashray Deposit Plus which allows doubling of investment, deposit is accepted only on cumulative scheme for periods ranging from 80 months to 86 months as explained in the table below and interest is compounded on semi-annual basis.
DHFL Aashray Deposit Plus Double My Money Fixed Deposit Scheme
Particulars Rate of Interest Tenure (Months) Amount (INR)
All Individuals / Trusts 10.00 86 Less than 25 lakh
10.25 84 25 lakh or more
Privileged* Customer 10.50 82 Less than 25 lakh
11.00 80 25 lakh or more
*Privilege Customers such as Senior citizens, existing DHFL home loan borrowers, existing DHFL stakeholders, defence personnel and widows, are eligible for an additional interest of 0.50% over the card rates.
All individual depositors and first depositors in joint holdings are eligible for Rs. 1 Lakh Free Accidental Death Insurance.

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