Fixed Deposits from Parsvnath Developers

 

Parsvnath Developers is a real estate company with operations in 16 states/45 cities and has a portfolio of residential/commercial complexes,   hotels, SEZs, IT parks, BOT projects etc…

The company is offering fixed deposits schemes with durations upto 3 years, with yields ranging from 10% to 14.19%.

Scheme A (Non-Cumulative)

Period	Rate of Interest (% p.a.)
6 months	10.00
1 year	11.50
2 years	11.75
3 years	12.00

Minimum amount : Rs 20,000.    Interest paid out quarterly,  ECS option available.

Scheme B (Cumulative)

Period	Rate of Interest (% p.a.)	Maturity Value of Rs 15,000	Yield (% p.a.)
6 months	10.00	15,759	10.13
1 year	11.50	16,801	12.01
2 years	11.75	18,910	13.03
3 years	12.00	21,386	14.19

Minimum Amount : Rs 15,000/-

An additional interest of 0.50% p.a. shall be given to employees of Parsvnath Group, shareholders of the company (holding a minimum of 100 shares) and Senior Citizens (65+ years).

Fixed Deposits from Avon Corporation

 

Avon Corporation, a manufacturer of electronic weighing scales and other equipment is issuing FDs per the following rates:

Period (years)	Cumulative Scheme (Rate of Interest % pa)	Non-Cumulative Scheme (Rate of Interest % pa)
1	11.00	10.75
2	11.50	11.25
3	12.00	11.75

Shareholders and citizens can get an additional 0.5% p.a.

Minimum Deposit for both schemes : Rs 5000/- and in multiples of Rs 1000/- thereafter.

The company also deposits interest via NECS/ECS.

Update : Jan 20: The company is issuing FD receipts,  for payments sent around mid December 2010.

IBN 18 Broadcast Limited is accepting fixed deposits again

 

IBN18 owns and operates several prominent channels including CNN-IBN,  IBN7,  IBM Lokmat,   Colors, MTV,  Nick etc…in India.   The company has stopped accepting fresh deposits from public and was accepting only renewals from existing depositors.

The company is now accepting fresh deposits with maturities ranging from 6 months to 3 years, under both non-cumulative and cumulative schemes.

Scheme A – Non Cumulative (Interest paid quarterly)

Period	Rate of Interest (%p.a.)
6 months	9
1 year	11
2 years	11
3 years	11

Scheme B – Cumulative (Interest compounded quarterly and paid on maturity)

Period	Rate of Interest (%p.a.)
1 year	11
2 years	11
3 years	11

Sr Citizens and employees of the company can avail of an additional 0.5% interest rate.

Deposits are accepted for a minimum amount of Rs 10000/- and in multiples of Rs 1000/- thereafter.

You can use the older forms,  for subscribing to the issue.   However, the interest rates mentioned in those forms (11% for FDs of 1/2/3 year durations,  are no longer applicable).

Fixed Deposits from Kolte-Patil Developers

 

Kolte-Patil is a real estate company.    The company is accepting cumulative and non-cumulative deposits, per the following rates.

Non-Cumulative Deposits (Interest paid quarterly)

Period	Rate of Interest p.a. (%)	Minimum Deposit (Rs.)
1 year	11.00	20,000
2 years	11.50	20,000
3 years	12.00	20,000

Cumulative Deposits (minimum deposit : Rs 20,000).  Interest compounded quarterly

Period	Interest Rate p.a. (%)
1 year	11.00
2 years	11.50
3 years	12.00

Additional interest of 0.5% shall be paid to senior citizens,   shareholders,   employees of Kolte-Patil group,   handicapped, flat owners of Kolte-Patil group and Armed forces personnel.

The mininum amount for all schemes is Rs 20,000/- and in multiples of Rs 10,000/- there-after.

Interest shall be paid via either post-dated cheques of NECS.

Early withdrawals are allowed (with a 1% reduction in the rate of interest).

Application forms are available on Fixed Income India.

Update (Jan 3 2011) : The company is currently processing applications that were sent around Dec 10 2010.

PAN required for all Fixed Deposits.

Happy New Year to all our readers.     Thanks to you, this has become one of the top blogs for fixed deposits in India.

Effective January 1st,   all FD applications will require your PAN information.       Previously, you were required to submit PAN,  only under the following circumstances:

1. The amount deposited was greater than Rs. 50,000/-

2.  The interest in the year,  was likely to exceed Rs 5000/-

3. The company accepting the FD,  mandated PAN information.

Starting today,  please provide your PAN number on all your new FD applications.

Invest wisely

 

Company Fixed Deposits offer higher interest rates, than bank interest rates,  partially to compensate for the higher risk associated with them.   Investors should study the fundamentals of the company, before investing.        There have been a few instances of the companies,  defaulting on their payment obligations.       The post from Jago Re Investor,   provides some examples of defaults.

Investor Beware!

Tax Savings Bonds from NHAI and REC

If you have sold a property and made a profit from the sale – you are liable for capital gains taxes.       You can minimize or avoid the tax liability by investing the capital gains, into Section 54 EC bonds, issued by the National Highway Authority of India or Rural Electrification Bonds.  

Use the following formula, to determine the amount to invest, to eliminate taxes.

Purchase Price   : A	Rs
Sale Price           : B	Rs
Inflation Index in the year of purchase (eg. if the unit was purchased during 1990-1991, then the Index is 182)  : C
Inflation index in the year of sale                       : D
Inflation Adjusted Purchase Price : E = A * D/C
Gains                   : F=B - E	Rs
Taxes with indexation : G =  0.20 * F	Rs

The amount (Rs. G) above is the amount, that you owe in taxes.     You can reduce the tax liability to Zero,   by investing the capital gains (E) ,  into three year bonds from National Highway Authority of India or Rural Electrification Corporation.    The amount must be invested within six months of sale of the property.

These bonds currently yield 6% and are rated AAA by CRISIL.    The interest on the bonds is taxed.   Further,  you can invest a maximum of Rs 50 lakhs, in a given year.

NHAI Series XI Application Form  (Details)

REC Capital Gains Tax Exemption Bonds Series VIII Application Form

Fixed Deposits from Damodar Threads

 

Damodar Group is one of leading manufacturers and exporters of Cotton , Polyester and Polyester Blended Value Added Yarns. The group  specializes in manufacturing of Linen Like Yarns, Silk Like Yarns, Slub Yarns, Neps Yarns in 100 % Cotton, 100 % Polyester, Poly/Viscose and other special blends.  

The Group has been constantly expanding in various fields of yarns like Air Texturising, Yarn Dyeing, Multi Printed Space Dyed Yarns, Mono Filament Polyester Yarn, Textured Twisted Yarn.  

The Group has a widespread presence in India through its own offices and its agency network for marketing its products. In India the company is present in Mumbai, Bhilwara, Surat, Ichalkaranji, Delhi and other places.  

Damodar Group is well established in different textile markets across the globe .  They currently export to over 40 countries across Europe, South Africa, South America, Australia, Korea, Belgium, Singapore, Italy, Egypt and the Gulf countries.

The company is offering Fixed Deposits,  with durations ranging from 1 to 3 years,  as per the table below:

Period	Rate of Interest
1 year	11 % p.a.
2 years	11.50 % p.a.
3 years	12 % p.a.

Employees of Damodar Group,   Senior Citizens (60+) and share holders will be given an additional 0.5%.

Deposits should be for a minimum amount of Rs 5000/- and in multiples of Rs 1000/- thereafter.

Tamil Nadu Power Finance and Infrastructure Development Corporation Limited revises interest rates

 

TN Power Finance is owned by the Govt. of Tamil Nadu.      It has been offering FDs since 1991 and has over 4 lakh depositors.

Effective December 16, 2010,  the corporation has revised the interest rates on its Fixed Deposits:

The company offers two schemes : Regular Interest Payment Scheme (RIPS) and Cumulative Interest Payment Scheme (CIPS).    The interest rates for the various schemes are as follows:

Regular Interest Payment Scheme

	all depositors	Senior Citizens (58+ years)
36,  48 and 60 months	9.50% pa (compounded monthly) Yield : 9.91% pa	10 % pa  (compounded monthly) 10.47 % pa

Cumulative Interest Payment Scheme

	all depositors	Senior Citizens (58+ years)
60 months	9.50% pa (compounded monthly) Yield : 12.10% pa	10 % pa  (compounded monthly) 12.91 % pa

Download application forms from www.tninfrafinance.com or www.tnpowerfinance.com.

Tamil Nadu Power Finance and Infrastructure Development Corporation Limited revises interest rates

 

TN Power Finance is owned by the Govt. of Tamil Nadu.      It has been offering FDs since 1991 and has over 4 lakh depositors.

Effective December 16, 2010,  the corporation has revised the interest rates on its Fixed Deposits:

The company offers two schemes : Regular Interest Payment Scheme (RIPS) and Cumulative Interest Payment Scheme (CIPS).    The interest rates for the various schemes are as follows:

Regular Interest Payment Scheme

	all depositors	Senior Citizens (58+ years)
36,  48 and 60 months	9.50% pa (compounded monthly) Yield : 9.91% pa	10 % pa  (compounded monthly) 10.47 % pa

Cumulative Interest Payment Scheme

	all depositors	Senior Citizens (58+ years)
60 months	9.50% pa (compounded monthly) Yield : 12.10% pa	10 % pa  (compounded monthly) 12.91 % pa

Download application forms from www.tninfrafinance.com or www.tnpowerfinance.com.