L & T Finance's NCD issue is now open.
The company is issuing Secured redeemable NCDs with five, seven and ten year duration. The NCDs shall be listed on the NSE.
Details are as below:
| Company | L & T Finance | |
| Business | Provides financing for businesses. | |
| Minimum amount of deposit | Rs. 10,000/- and multiples of Rs. 1,000/ thereafter for all schemes for regular investors (ie non High Networth / Non QIBs) | |
| Interest Payments | Various schemes, with interest payable quarterly, semi-annually or on maturity. | |
| Mode of Interest payments | | |
| Payment | | |
| Ratings & Reviews | CARE : AA+ ICRA : LAA+ | |
| Application | Obtain an application from the authorized brokers. | |
| TERMS | ||
| SCHEMES | ||
| Period | Rate of interest pa (%) | |
| 5 years | 9.51% p.a., interest payable quarterly | |
| 5 years | 9.62%, payable semi-annually | |
| 88 months (7+ years) | 9.95%, compounded annually, payable on maturity | |
| 10 years | 10.24%, payable semi-annually | |
| Additional Incentives | Senior Citizens : NIL Shareholders : NIL Employees : NIL | |
The rates on longer term NCDs (88 and 120 months), are not very attractive, while the 60 months NCDs present a decent premium, compared to Bank FDs. Most recently, Shriram and Tata Capital offered much better terms on their NCDs, compared to L & T Finance.
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