Oct 19, 2011

NHB Term Deposit Schemes-Restarts with upward revision of NHB Sunidhi Interest rates w.e.f 31st October 2011.

Please note NHB will resume collection of deposits under NHB Sunidhi and NHB Suvriddhi Scheme w.e.f 31st October 2011.
 
The old rates of NHB Sunidhi Scheme were 8.75%, 8.75%, 9.00% and 9.25% for 12,24,36 and 60 months.
 
NHB SUNIDHI Term Deposit Scheme
 

Minimum Deposit Amount Rs.50000/-
Period
For General Public
For Senior Citizens
Interest Rates (% p.a.)
Maturity Value  (Rs.)
Yield (%p.a.)
Interest Rates (% p.a.)
Maturity Value  (Rs.)
Yield (%p.a.)
12M
9.50
54922
9.84
10.10
55245
10.49
24M
9.50
60328
10.33
10.10
61039
11.04
36M
9.25
65783
10.52
9.85
66950
11.30
60M
9.25
78985
11.59
9.85
81333
12.53

Note:

·         Under Cumulative Scheme interest rates are computed on quarterly compounding basis and under Non Cumulative Scheme interest will be paid on half yearly basis.

·         Senior Citizen to be given an additional interest @ 0.60%.

·         Deposit Amount:  Minimum of Rs. 50,000 and higher in multiples of Rs. 10,000/-.

·         Who can deposit: Individuals / HUF / Societies / Trusts / Partnership Firms /Association of Persons

·         Interest option under the Scheme: Cumulative Interest Option / Non- Cumulative Interest Option.

·         Premature Withdrawal option: Premature encashment is available (subject to certain conditions).

·         Nomination: Available

·         Ceiling on Deposit: Maximum Aggregate amount under Sunidhi Term Deposit should not exceed Rs. 1 crore per Depositor.
NHB SUVRIDDHI (Tax Saving) Term Deposit Scheme
 

Minimum Deposit Amount Rs.10000/-
Period
For General Public
For Senior Citizens
Interest Rates (% p.a.)
Maturity Value  (Rs.)
Yield (%p.a.)
Interest Rates (% p.a.)
Maturity Value  (Rs.)
Yield (%p.a.)
60M
9.25
10958
9.58
9.85
11022
10.22

Note:

·         Under Cumulative Scheme interest rates are computed on quarterly compounding basis and under Non Cumulative Scheme interest will be paid on half yearly basis.

·         Senior Citizen to be given an additional interest @ 0.60%.

·         Deposit Amount:  Minimum of Rs. 10,000 and higher in multiples thereof up to maximum of Rs. 1,00,000/- per financial year.

·         Who can deposit: Individuals / HUF  

·         Interest option under the Scheme: Cumulative Interest Option / Non- Cumulative Interest Option.

·         Tax Benefit under Section 80C- Notified by CBDT published in Extraordinary Gazette of India dated 5th January, 2009 S.O.21 (E).

·         Nomination: Available 

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