Feb 6, 2011

GRUH Finance revises the rate of interest offered on its Public Deposit products effective 8th February '11

GRUH Finance Limited (GRUH) - a subsidiary of HDFC Ltd., is a Housing Finance Company (HFC) recognized by National Housing Bank.

GRUH offers loans to individuals for purchase, construction, repairs, renovation of dwelling units. GRUH also offers loans to the Self employed segment where in formal income proofs are not available. The income of such applicants is appraised based on field investigation and surrogate income proof. GRUH also offeres loans to professionals for purchase of office premises.

The revised rate of interest which GRUH will be offering on the Public Deposit products beginning 8th February '11 are as under: 

Tenure in months
Monthly Income Plan
Quarterly Income Plan
Annual Income Plan
Cumulative Growth Plan(*)
(*) Interest compounded annually on 31st March
 Silver Jubilee Cumulative Growth Plan
Tenure in months
Silver Jubilee Cumulative Growth Plan (@)
(@) Interest compounded half yearly on 30th September and 31st March
Please Note: GRUH continues to offer 25 bps more on the above rates on deposits received from Trusts and Sr. Citizens.

Benefits of GRUH Deposits
  • GRUH is a recognized Housing Finance Company by the National Housing Bank (NHB)
  • Trust deposits placed with GRUH qualify under the category of specified investment as defined under section 11(5)(ix) of the Income Tax Act, 1961
  • No TDS on Interest on deposits upto Rs. 5000/- per financial year
  • Loan against individual deposits as per NHB guidelines3
  • ECS facility available for payment of interest on non cumulative deposits
  • Advance interest warrants for one financial year
  • Premature withdrawal facility available as per existing NHB directives
  • Exempted from Wealth Tax
  • Nomination facility available
  • Demand draft facility available for repayment
To Apply for above Schemes, Call: 0-991-000-9312, 0-9873-016-716 | Email: info@safeinvestindia.com

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