Tata Motors, which is reeling under losses, resulting from the Jaguar-Land Rover acquisition and the slowing economy, is planning to re-launch a Fixed Deposit Scheme and expects to mop-up Rs 1500 crores.
The previous scheme, which was open until April 15th, offered an interest rate of upto 11%, on FDs with three year maturity. Subsequently the offering was closed to the public and only open to the share holders.
The new scheme from Tata Motors, offers interest rates between 8 and 8.75%, depending on the duration (choice of 2 year or 3 year maturities).
The new schemes are as follows:
Application forms are available for download.
Recommendation : Avoid. The interest rates are not very high for the risk undertaken, especially in relation to the rates offered by bank FDs (7-8%).
Please read this article on Tata Motors Fixed Deposit
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