D.S. Kulkarni Developers Ltd., a real-estate development firm, has launched fixed deposit schemes.
The company is primarily engaged in construction projects around the Pune, Mumbai and Nashik area. It’s parent company DSK Group commenced operations in 1970 and has operations across IT, Car dealerships, hotels, engineering, chemicals, etc…
The company is listed on the NSE and BSE.
The company is accepting fixed deposits with a number of maturity periods, ranging from 6 months to 36 months, with an interest rate of 12%. Interest is payable quarterly or at maturity. Post Dated cheques for principal and interest, shall be issued in advance.
(A) Cumulative Deposits (Interest compounded monthly)
| Period | Interest Rate p.a. | Minimum Deposit (Rs.) | Amount payable at maturity (Rs.) | Effective Rate of Interest |
| 6 months | 12 | 15,000 | 15,923 | 12.30 |
| 12 months | 12 | 15,000 | 16,902 | 12.68 |
| 24 months | 12 | 15,000 | 19,046 | 13.49 |
| 36 months | 12 | 15,000 | 21,462 | 14.36 |
(B) Non-Cumulative Deposits (Interest paid quarterly)
| Period | Effective Interest Rate p.a. | Minimum Deposit (Rs) |
| 6 months | 12 | 15,000 |
| 12 months | 12 | 15,000 |
| 24 months | 12 | 15,000 |
| 36 months | 12 | 15,000 |
Shareholders, flat holders (of DSK group), senior citizens and members of the Armed Forces can get an additional 0.5% interest rate.
Tax shall be deducted at source, if the interest exceeds Rs. 5000/year. The maximum amounts that can be invested in any scheme, without being subject to TDS are as below:
Application forms are available for download.
i agreed for tis deposites but can i knw is i invest 100000 in it
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