Fixed Income

Fixed Deposits from Parsvnath Developers

2011-02-04T09:10:00.000-08:00

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

2011-01-25T05:14:00.001-08:00

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

2011-01-07T14:09:00.001-08:00

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

2011-01-03T09:24:00.001-08:00

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.

2011-01-02T21:06:00.001-08:00

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

2010-12-25T05:56:00.001-08:00

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

2010-12-25T05:41:00.001-08:00

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

2010-12-22T09:33:00.000-08:00

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

2010-12-19T07:48:00.001-08:00

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

2010-12-19T07:48:00.000-08:00

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.

Fixed Deposits from Kirloskar Electric

2010-12-10T05:50:00.001-08:00

Kirloskar Electric Company Limited is one of the large Engineering and Manufacturing companies in India. Established in 1946, Kirloskar Electric ushered the Indigenous Electrical Manufacturing Industry in India.
Kirloskar Electric makes more than 70 products under 8 different product groups catering to core sectors of the economy like Power Generation, Transmission and Distribution, Industrial Power, Transportation, Renewable Energy, etc.
Kirloskar Electric Network of
• 9 Manufacturing Facilities for multiple products.
• 34 Sales offices spread across the country and 3 Offices abroad
• Wide network of 47 Spares Dealers and 100+ Service centers with 200+ Dealers enable the company to efficiently serve and advise the customers on suitable products, systems, services at competitive prices.

Kirloskar Electric Company is the first company to make Electric Motors in India.

The Kirloskar Group is back with Fixed Deposits, at attractive rates.

The company is offering two schemes (Non-Cumulative and Cumulative), with interest rates, as listed below:

	Non-Cumulative (interest payable quarterly)	Cumulative (interest payable on maturity)
1 Year	11.5%	11.5%
2 Years	12%	12%
3 Years	12.5%	12.5%

The yield on a 3 year cumulative FD is 14.89% p.a.

The minimum investment is Rs 50000/- and in multiples of Rs 10000 thereafter.

Application forms are available for download.

Update : December 26: Deposit receipts are being sent, to depositors, whose applications were processed by Kirloskar on December 14, 2010.

Fixed Deposits from Kirloskar Electric

2010-12-10T05:50:00.000-08:00

The Kirloskar Group is back with Fixed Deposits, at attractive rates.

The company is offering two schemes (Non-Cumulative and Cumulative), with interest rates, as listed below:

	Non-Cumulative (interest payable quarterly)	Cumulative (interest payable on maturity)
1 Year	11.5%	11.5%
2 Years	12%	12%
3 Years	12.5%	12.5%

The yield on a 3 year cumulative FD is 14.89% p.a.

The minimum investment is Rs 50000/- and in multiples of Rs 10000 thereafter.

Application forms are available for download.

Jai Prakash Associates : Fixed Deposits for Public is back

2010-11-22T10:08:00.000-08:00

The Fixed Deposit Scheme from Jai Prakash Associates is back. The company had stopped accepting FD applications from the public since January and their schemes were open only to existing shareholders (with 100 shares or more).

After a gap of over 11 months, the FD schemes are again open to all.

The interest rates are lower, compared to the previous round.

Period in months	Rate of Interest
6	10.5%
12	10.5%
24	11.0%
36	11.5%

The minimum investment is Rs 20000/. Payment may be made via cheque to “Jaiprakash Associates Limited A/C fixed deposit”.

Application Form is available for download from the company web site.

Jaypee Infratech Fixed Deposits

2010-10-11T05:03:00.000-07:00

Jaypee Infratech (a member of the Jaypee group), is accepting fixed deposits from the public. The company is working on a six lane highway, connecting Noida and Agra. The company shall also build townships at five locations, along the express way. The parent company has interests in Civil Engineering, power generation, cement manufacturing, hotels etc… The fixed deposit scheme from JP Associates (a member company), has been very popular, over the past year.

The company is issuing FDs, under both non-cumulative (ie. interest payable quarterly) and cumulative schemes (interest payable at maturity). Details are as follows:

Download application forms.

CHD Developers Fixed Deposits at 11%+

2010-09-09T10:46:00.001-07:00

CHD Developers, a real estate company is issuing fixed deposits at interest rates ranging from 11% to 15.07%.

Interest rates are as below:

“A” Regular Income Scheme (interest paid monthly)

Period (in months)	Minimum Amount	Rate of Interest (pa)
6	25000	11%
12	10000	12%
24	10000	12%
36	10000	12.5%

“B” Cumulative Option (interest paid on maturity)

Period (months)	Minimum Amount	Effective Yield (pa)
6	25000	11.28%
12	10000	12.68%
24	10000	13.49
36	10000	15.07%

“C” Non-Cumulative Option (interest paid quarterly/half-yearly/annually)

			Effective Yield pa
Period (months)	Min. Amount	Quarterly	Half Yearly	Yearly
6	25000	11.14	11.28
12	10000	12.12	12.30	12.68
24	10000	12.12	12.30	12.68
36	10000	12.63	12.83	13.24

Download application forms.

D.S. Kulkarni offers 12% interest

2010-06-26T05:11:00.001-07:00

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.

Update (June 24, 2010) : D.S. Kulkarni has stopped accepting fixed deposits. Any new requests, shall be returned.

TATA Capital NCDs in DEMAT accounts

2010-06-26T05:06:00.001-07:00

The TATA Capital NCDs, have started showing up in your DEMAT accounts. Check your brokerage firms, to verify the quantity.

The NCDs were issued last year and pay interest of 12%. The NCDs are listed under the scrip name of TATACAP2 and are priced at Rs 1194, a premium of Rs 194, over the issue price.

Shriram Transport Finance to issue new round of NCDs

2010-05-15T01:17:00.001-07:00

Shriram Transport Finance Corporation shall sell a new set of NCDs worth Rs 500 crores, in May.

Update : The NCD issue was oversubscribed on the second day.

Fixed Deposits from Mahindra Finance

2009-12-21T09:39:00.001-08:00

Mahindra & Mahindra Financial Services is offering fixed deposits, with durations ranging from 1 year to 3 years. The interest rates are conservative, ranging from 8% to 9%, depending on the maturity.

Application forms are available for download.

RBI Relief bonds

2009-12-21T09:29:00.001-08:00

The Reserve Bank of India, is accepting deposits from the public, for RBI Relief Bonds. These bonds have a yield of 8% and are totally tax free. So, if you are in the 30% tax bracket, it equates to a yield of 11+%.

Download the application.

Plenty of NCDs coming down the pipe

2009-12-12T09:32:00.001-08:00

Earlier in the year, investors were presented with NCDs from several companies, such as L & T Fiance, Tata Capital, Shriram Transport Finance etc… However, there has been a lull in the recent months.

Mobilize your finances again. Keep your cash ready. Over the next few months, you can expect a good number of companies, going the NCD route, to raise cash. Some of the companies, that we expect to raise money, via this route are, Dewan Housing Finance, Gujarat Industrial Finance Tech-City, IIFCL, Jaiprakash Associates.

Stay tuned to this blog, for updates on these debt issues.

Trading Mutual Funds via stock exchanges

2009-12-06T03:29:00.001-08:00

The stock exchanges are in the process of allowing mutual funds, to be bought or sold on the stock exchanges. Here is an FAQ.

Q: What are the advantages of trading Mutual Funds on the exchange

A: Investors can now purchase MFs, through the same mechanism, that they use to trade equities. Secondly, many investors in Tier-II and Tier-III cities, do not have MF branches and hence have difficulty in transacting in various funds. With the new platform, MFs can reach out to a larger audience. Thirdly, the current settlement process, is long and it can take over a week for the transaction to be recorded. The new process, requires, that the settlement close in two working days.

Q: Which mutual funds are available on this platform?
A: Selected mutual funds from UTI and Birla Sun Life are currently available. Various other firms such as Reliance, HDFC, Tata, … are in talks to include their funds, on the new platform.

Q: My broker, has always allowed me purchase or sell MFs. How is this different?

A: Some brokers currently allow the purchase or sale of Mutual Funds, via their website. However, they are merely acting as pass-throughs, routing purchaser information to the appropriate mutual fund. With the new exchange based trading system, the MFs are held in your Demat account.

Q: How are MF units priced? Do they vary throughout the trading day?

A: Any order placed prior to 3 PM, shall be closed as of the closing NAV, on that day. MF Units are unlike ETFs and are not expected to have intra-day pricing changes.

Q: Is there a fee for buying/selling via the exchange?

A: The NSE has indicated that they will not be charging a fee for the transaction. However, the individual brokerage firms are free to charge. Brokers may institute a fee, ranging between 0.5 and 1%, depending on the client and volume, if the market dynamics allow for additional fees.

Q: What about taxes?

A: The purchase / sale of Equity MFs, will be subject to Securities Transaction Tax (STT) (currently at 0.125%). You must factor this tax, into your calculations. The Debt and Liquid funds are not subject to STT. All MFs, shall be subject to capital gains taxes as applicable (Units held for 12 months or less are liable to a tax at 15%, while units held for more than 12 months are exempt from capital gains tax, provided, that the transfer of units, were subject to STT).

TV 18’s FDs offer 14%+ interest

2009-11-07T10:26:00.001-08:00

Television Eighteen is accepting fixed deposits, under both cumulative and non-cumulative schemes, with annual yield upto 14.19%.

The Network operates several televison channels including CNBC-TV18, CNBC Awaaz, CNN-IBN, etc… and has interests in various entertainment and travel related properties such as bookmyshow.com, yatra.com, in.com etc…

Interest Rates (Scheme –A, non-cumulative)

Period (months)	Min. amount	Rate of interest (%p.a.)
6	10,000	9
12	10,000	12
24	10,000	12
36	10,000	12

Interest Rates (Scheme B, Cumulative)

Period (years)	Min. Amount	Rate of Interest (% p.a.)	Amount payable on maturity (Rs.)	Effective Yield (%)
1	10,000	12.00	11,255	12.55
2	10,000	12.00	12,688	13.34
3	10,000	12.00	14.258	14.19

Senior citizens and employees of Network 18, can avail of an additional interest of 0.5% p.a.

The fixed deposit scheme is rated MA-.

Application forms are available for download.

November 22: The company has reached it’s target of 8-10 crores from the public. The scheme is closed for the public. Shareholders can continue to invest in the scheme, against the target of Rs 50 crores, allocated for shareholders.

Sakthi Finance revises interest rates

2009-11-07T10:08:00.001-08:00

Sakthi Finance Limited has revised the interest rates on deposits. The new rates are effective from November 1st, 2009. All deposits maturing on or after Nov 01, shall be renewed at the new rates.

Sakthi Finance is part of the Sakthi Group, a Rs 1200 crore group, with investments across Sugar, Industrial Alcohol, Foundry, Plantation, Truck/Car dealerships etc…

Sakthi Finance engages in financing of commercial vehicles and equipment, via it’s 26 branch network.

Interest Rates : Cumulative Deposit (Scheme 1)

Term (months)	Interest Rate p.a. (%)	Annual Yield
12	9	9.31
18	9.50	10.08
24	10	10.92
36	10.50	12.16

Interest Rates : Cumulative Deposit (Scheme 2)

Interest is payable on a quarterly basis.

Term (months)	Interest Rate p.a. (%)
12	9
18	9.5
24	10
36	10.5

Interest warrants, payable at par, at select cities, are issued in advance, for every financial year.

The company also pays interest through Electronic Clearing System.

Terms and Conditions.

Application Form.

Companies Bill 2009

2009-10-19T11:08:00.001-07:00

Per the Companies Bill 2009, to be enacted by Parliament, companies, shall be prevented from accepting or renewing deposits from the public.

Banks and Non-Banking Finance Companies, can continue to accept or renew deposits.

Any (fixed) deposits, accepted by a company, prior to the commencement of this act, shall be refunded to the investor within 12 months of passage of this act.

For more details, refer to “Chapter V: Acceptance of deposits by companies”.

Companies currently accepting fixed deposits

2009-10-05T10:01:00.000-07:00

The following companies are currently offering attractive interest rates on Fixed Deposits:

Company	Minimum Amount	Interest Rate 1 year (%)	Interest Rate 2 years (%)	Interest Rate 3 years (%)	Credit Rating
Fenner India	5000	10	10.25	10.25
Godrej & Boyce	100000			10.00
TCP Ltd	10000	9	9.5	10
State Bank Of India		6.25
HDFC	20000	6.65-7.15			AAA
HDFC Premium	20000		6.75
Tata Motors	20000		8.00	8.75
Mahindra Finance	10000	8.00	8.50	9.00	FAA
LIC Housing Finance	10000	6.75	7.25	7.5	FAAA
Shriram Transport Finance	25000	8.00	9.00	9.00	AA
Godrej Industries	10,000		8.00	8.50
SIDBI	10,000	6.50	7.00	7.00	AAA
JP Associates	10,000	11.0	11.5	12.50	A+
Sakthi Finance		9	10	10.50	MA
TV 18	10,000	12	12	12	MA-
Apollo Hospitals	25,000	8	8.25	8.75
Shriram City Union Finance		8	8.50	9

Fixed Maturity Plan from HDFC

2009-09-30T21:45:00.000-07:00

HDFC Funds has launched a new Fixed Maturity Plan (FMP) mutual fund, for the month of October.

Name	HDFC Fixed Maturity Plan Series XI
Dates	Opens : October 05 Closes: October 18
Duration	18 Months
Redemption	Early redemption via stock exchanges.
Listing	NSE & Other stock exchanges
Holdings	Debt and Money Market instruments : 60% – 100% Government securities : 0% – 40%
Load	Entry Load : None.
Additional Information	Information Brochure
Benefits	Gains are taxed at lower rates, compared to fixed deposits. Offers diversification, compared to single company FDs. Has the potential to offer higher returns over bank FDs, as FMPs can invest in corporate debt.
Disadvantages	FMPs do not provide guidance on potential returns.
Where to apply	Contact your broker.

JM Fixed Maturity Fund – Series XVI

2009-09-30T09:36:00.000-07:00

JM Financial has launched a new Fixed Maturity Plan (FMP) mutual fund, with the objective of generating regular returns through investments in fixed income securities, maturing on or before the maturity date of the scheme (375 days).

Name	JM Fixed Maturity Fund Series XVI (Growth & Dividend)
Dates	Opens : September 29 Closes: October 27
Duration	375 days
Minimum Investment	Rs 5000/- (retail plan)
Redemption	Early redemption via stock exchanges.
Listing	NSE & Other stock exchanges
Holdings	Short term debt securities: upto 100% Government securities/money market instruments : 0% – 100% Can invest in AAA/AA+/AA/AA-/A+/A/A-/BBB+/BBB related paper.
Load	Entry Load : None. Exit Load : None.
Expense Ratio	upto 2.25%
Additional Information	Information Brochure
Benefits	Gains are taxed at lower rates, compared to fixed deposits. Offers diversification, compared to single company FDs. Has the potential to offer higher returns over bank FDs, as FMPs can invest in corporate debt.
Disadvantages	FMPs do not provide guidance on potential returns.
NRI investments	NRIs can invest on a fully-repatriable basis.
Where to apply	Contact your broker or the fund house for an application form.

Our take: As with any FMP, the returns are unknown. The fund may not be able to match fixed deposit rates of 10-12%, which is currently offered by some private issuers. The expenses are high and will eat into returns.

Interest Rates on FDs from Banks

2009-09-28T21:34:00.001-07:00

The Fixed Income India team has summarized a list of Fixed Deposits, that offer the highest interest rates. Only FD offerings from Banks, have been taken into consideration.

Duration of FD	Interest Rate	Bank
less than three months	4.75%	Development Credit Bank
six months	5.75%	IndusInd Bank, Karur Vysya Bank, Tamilnad Mercantile Bank
1 year	7.75%	The J & K Bank
2+ years	8%	The Lakshmi Vilas Bank
3+ years	8.25%	The Lakshmi Vilas Bank

Happy Investing!

D.S. Kulkarni offers 12% interest

2009-09-28T11:27:00.000-07:00

D.S. Kulkarni Developers Ltd., a real-estate development firm, has launched fixed deposit schemes.

The company is listed on the NSE and BSE.

(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.

Fixed Deposits from Jagatjit Industries

2009-09-16T04:29:00.000-07:00

Jagatjit Industries, is offering fixed deposits, with rates upto 12.5%. The company and markets alcoholic beverages, malt, malt extract, malted milk foods, milk powder, ghee, glass and pet containers.

Interest rates are as below:

More details are available on the company web site. Applications are available for download.

Update : November 7th: The company is now accepting fixed deposits, only from existing investors.

KSE Limited launches FD Schemes

2009-09-08T10:22:00.001-07:00

KSE Ltd is a producer of cattle feed, coconut oil from oilcakes and also has a marginal presence in the dairy segment in milk and ice-creams. The Kerala based company, has declared dividends of 10%, 35% and 50%, in 2007, 2008 and 2009 respectively.

The company has launched two FD schemes, as below:

Non-Cumulative Deposit Scheme

Term	Rate of interest (payable quarterly)
1 year	10%
2 years	10%
3 years	11%

Cumulative Deposit Scheme

Term	Minimum Deposit (Rs.)	Rate of Interest	Maturity Value (Rs.)	Yield
1 year	5000	10%	5520	10.40%
2 years	5000	10%	6090	10.90%
3 years	5000	11%	6925	12.84%

Applications are available for download.

L & T Finance NCD subscribed

2009-09-07T11:35:00.001-07:00

The NCD issue from L& T finance has been fully subscribed. While the initial response from the retail investors was slow, the issue managed to get the required subscriptions, to fill the 35% NCDs allocated for this category.

The 7 and 10 year NCDs, attracted over 50% of applications.

Overall, the issue was oversubscribed by 3.86 times the original amount of 500 crores. The lack of enthusiasm, can be attributed to the relatively low interest rates and long lock-in periods, when compared to other recent offerings (Shriram Transport NCD, Tata Capital NCD) and other short term FDs that are currently available.

Update : September 24 : L & T Finance NCD has listed at a premium of Rs 29 and traded at an intra-day high of Rs 42 over the listing price.

Investors can look up the intraday quotes, by using the ticker symbol “L&TFINANCE – N1” on NSEDAILY.COM.

Sundaram Finance revises interest rates

2009-09-01T05:13:00.001-07:00

Sundaram Finance has revised the rates on it’s 2 and 3 year Fixed Deposit rates, by 0.5%, while leaving the interest rates on the 1 year FD unchanged.

Interest rates, effective September 7th are as follows:

Application forms are available for download, on the company web site.

Shriram Transport Finance Corporation NCD oversubscribed

2009-09-01T02:33:00.001-07:00

The NCD issue from STFC has received applications for Rs 4930 crores or about 9 times the original issue amount of 500 crores. The company has an option to retain an additional 500 crores and plans to exercise this option, to retain a total of Rs 10000 crores, from this issue.

Investors who were not allotted the NCDs, have started receiving the refunds into their bank accounts.

Update (September 24, 2009):

Ticker symbols for the various NCDs on NSE are:

SRTRANSFIN - N1
SRTRANSFIN - N2
SRTRANSFIN - N3
SRTRANSFIN - N4
SRTRANSFIN - N5

You can quotes, by checking the NSE web site.

Fixed Deposits from KTDFC

2009-08-31T10:17:00.000-07:00

Kerala Transport Development Finance Corporation Ltd., a Govt. of India Undertaking is accepting fixed deposits. The deposits upto 400 crores are guaranteed by the government of Kerala.

KTDFC’s mission is to provide financial support for infrastructure development in the transport sector and finances vehicles and is involved in modernization of bus stations in the state.

Interest rates are as below:

Senior citizens will benefit from an additional 0.25% in interest, over the rates stated above.

The company has two schemes per below:

Scheme	Details
Money Multiplier Scheme	Minimum : Rs 10000/- Additional amount : in multiples of Rs 1000/- Compounding : Monthly
Periodic Interest Payment Scheme	Minimum : Rs 10000/- Additional amount : in multiples of Rs 1000/- Interest payable, monthly or quarterly.

Duration of schemes : 12/24/36/48/60 months.

TDS shall be applicable, if the interest exceeds Rs 5000/- per year. The maximum amount, that you can invest at 9.75%, without being subject to TDS is Rs 51,000.

Application forms are available for download.

Shriram Transport Finance Corporation Issues Refunds

2009-08-30T23:44:00.000-07:00

STFC has commenced refunding application money (with interest), to individuals, who were not allocated NCDs.

Tata Motors to re-launch Fixed Deposit Scheme

2009-08-29T10:12:00.001-07:00

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%).

Ansal Housing & Construction offers fixed deposits

2009-08-29T07:05:00.001-07:00

Highlights (taken from web site)

Post dated interest warrants in advance for each Financial Year.

Interest Warrants & Principal Amounts payable at par at all centers of acceptance of deposits.

Refund of deposit money at any time before the maturity date as per the rules.

Deposits will be accepted in multiples of Rs. 1,000/- subject to minimum amount mentioned under each scheme.

Interest compounded monthly, in quarterly and cumulative deposit scheme.

Nomination facility u/s 58A(II) of the Companies Act, 1956 is provided under the Scheme.

Download application forms.

Fixed Deposits from Jai Prakash Associates

2009-08-29T06:24:00.000-07:00

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Jaiprakash Associates, is offering attractive rates on Fixed Deposit Schemes. The company participates in Engineering & Construction, Cement, Power and Real Estate sectors.
The company offers fixed deposits with 1,2 and 3 year terms, with interest that is payable monthly, quarterly or cumulative. Details on the various schemes are below:

NON CUMULATIVE DEPOSITS – SCHEME A : QUARTERLY INCOME PLAN

PERIOD	Min. Amount (Rs.)	Rate of Interest (% p.a.)
1 year	10,000/-	11.00
2 years	10,000/-	11.50
3 years	10,000/-	12.00

CUMULATIVE DEPOSITS
SCHEME C

Period	Min. Amount (Rs.)	Category	Payable on Maturity (Rs.)	Yield (% p.a.)
6 months	10,000/-	General Special	10, 550 10,575	11.00 11.50
1 year	10,000/-	General Special	11,157 11,213	11.57 12.13
2 years	10,000/-	General Special	12,572 12,697	12.86 13.48
3 years	10,000/-	General Special	14,308 14,522	14.36 15.07

Special Rate : Shareholders (holding a minimum of 100 shares), employees and senior citizens can get 0.5% extra interest.
Additional amounts, should be in multiples of Rs 1000/-.
Maximum amount per investor, for 6 month FDs is limited to Rs. 10 lakhs.
Interest is compounded monthly on terms greater than or equal to 1 year.

Application Form and Prospectus are available for download from the company web site.
Ratings : The credit rating for JP’s long term debt is ‘CARE A+’, which indicates that is assigned to instruments that are considered to offer adequate safety for
timely servicing of debt obligations. Such instruments carry low credit
risk.
Company Highlights

Participated in 54% of hydropower projects in the 10th five year plan.
Built largest underground surface powerhouse.
Plans to be a 32 million ton per annum cement producer by 2011.
India’s largest private sector hydropower producer.
Slated to be a 4270 MW power entity by 2013.
Constructing 165 km Noida – Agra, Yamuna Expressway.
Constructing 1047 km Noida – Ballia, Ganga Expressway.
To develop 37 mln sq. meter of Real Estate over the next decade.
Market capitalization of around Rs. 20,000 crores (4.15L shareholders, 27000 depositors).

Recommendation : Many of the jaypee group’s projects have a long gestation period.      Further,   the company has an interest coverage ratio of 1.77 (ie.   the total number of times a company can pay interest,    out of it’s earnings before taxes, an interest coverage ratio greater than 1.5 is considered high.)    Invest in FDs with 1-2 year terms, to take advantage of the high interest rates.     It is likely that deposits longer than the 2 year period, may be returned to the investors,   if the new Companies Bill is enacted.
Updates:
September 21 : JP Associates has been awarded the Ganga Expressway project on a Build Operate Transfer basis.    The project is worth Rs. 40000 crores.    JP has been given rights to develop properties, along the expressway.
September 25 : Given the investor interest, the company may stop accepting fixed deposits or close some of the schemes.
October 1: The company has closed the Monthly Income Plan.        Investors,   looking for interest at monthly intervals, should look for other companies.
October 12: Our analysis indicates that the jaypee’s FD scheme has generated tremendous investor interest.     The company may either stop accepting fixed deposits or reduce the interest rates, in the near future.   The company has previously closed the monthly interest option.
November 20: The company is currently dispatching FD certificates and interest warrants, for applicants,   who submitted their applications in the first week of September.   Plan on a wait time of atleast 2.5 months, to receive your interest warrants.
November 21: Contact numbers for JP Associates : (0120) 460-9000, (0120) 9700-9800.
December 4: The company shall stop accepting deposits from the general public, from January 7th.    Shareholders (holding 100 shares or more) can continue to send in their applications.

L & T Finance NCD - Interest rates and maturity periods at a glance

2009-08-20T10:14:00.001-07:00

Subscription period : August 18 - September 4

Options	I	II	III	IV
Interest payment	Quarterly	Semi-annual	Cumulative	Semi-annual
Minimum Application Amount	Rs 10,000	Rs 10,000	Rs 10,000	Rs 10,000
Face value of NCDs	Rs 1,000	Rs 1,000	Rs 1,000	Rs 1,000
Coupon	9.51 %	9.62 %	9.95 %	10.24 %
Yield on redemption	9.85 %	9.85%	9.95 %	10.50 %
Redemption date	60 months	60 months	88 months	120 months

Secured Non Convertible Debentures from L & T Finance

2009-08-18T09:13:00.001-07:00

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.

Canara Bank to launch NCDs

2009-08-12T09:18:00.000-07:00

Canara Bank is likely to issue NCDs worth 600 crores over the next week. The interest rate is likely to be 2-3% lower than comparable offerings from Shriram Transport Finance or L & T Finance. Stay tuned for more details.

L & T Finance to issue NCDs

2009-08-02T11:46:00.001-07:00

L & T Finance is planning on issuing Non Convertible Debentures, during the second half of August. The NCDs shall have duration of five years and higher. The interest rate is expected to be higher than the 10 year G-Secs, which currently are in the 6-6.5% range.

Stay tuned for updates.

Shriram Transport Finance Corporation NCD oversubscribed

2009-08-01T11:51:00.000-07:00

The NCD from Shriram Transport Finance was oversubscribed on the first day. As of August 1st, the issue was over-subscribed by 10 times, with a bulk of the money coming in from QIB and High Networth Individuals. The retail portion had received 20% subscription on the first day, but appears to be on track towards subscription. The NCDs offer interest between 10.75% and 11.50%, depending on the term chosen and carry an AA+ rating from CARE.

K.C.P. SUGAR’s FD scheme for existing depositors

2009-07-30T23:31:00.000-07:00

K.C.P. Sugar and Industries Corporation, offers two fixed deposit schemes. Both schemes are available for existing depositors, who wish to renew their existing deposits.

Scheme 1: FD with Periodic Interest Payment

Term	Rate of Interest	Minimum Amount
2 years	10%	Rs 25000/-
3 years	10.5%	Rs 25000/-

Additional deposits in multiples of Rs 1000/- only. Interest is payable on June 30th, Sep 30th, Dec 31st and Mar 31st.

Scheme 2: Cumulative Deposit

Term	3 years. No premature closure.
Rate of Interest	10.5% p.a.
Minimum amount	Rs 25,000/- (in multiples of Rs 1000/- only)
Interest payable	On maturity.

Interest shall be paid by “AT PAR” warrants/demand drafts.

No tax will be deducted at source, on interest payments upto Rs 5,000/- per financial year. The maximum principal, for which interest shall not be subject to TDS is as below:

FD (2 years)	10%	upto Rs 47,000/-
FD (3 years)	10.5%	upto Rs 45,000/-
Cumulative Deposit	10.5%	upto Rs. 35,000/-

Contact Information :

KCP Sugar & Industries Corporation
Phone: 044-28555171 to 176
email : kcpsugar@vsnl

Registrar:

TIPS Data Systems Pvt Ltd
Phone : 044-24812333, 044-2481-2335
Email: investor@tipsdatasys

Indian Hotels Fixed Deposits

2009-07-18T11:15:00.001-07:00

Indian Hotels, invites fixed deposits from the public.

2 and 3 year terms are available across Non-cumulative and cumulative schemes.

Details are as below:

Company		The Indian Hotels Company Limited
Business		Runs Hotel and catering services, under various subsidiaries, such as United Hotels, KTC Hotels, Taj SATS Air Catering, Roots, Taj International Hotels, …
Minimum amount of deposit		Rs. 25,000/- and multiples of Rs. 5,000/ thereafter for both schemes
Interest Payments		Interest is payable half-yearly on March 31^st and Septemberr 30^th and on maturity
Mode of Interest payments		A/C Payee cheque payable at par in major cities in India. ECS facility available.
Payment		Cheque/Draft, in favour of 'IHCL Fixed Deposit'
Ratings & Reviews		Credit Rating : NA
Application		Obtain an application from the authorized brokers.
TERMS
SCHEME A – Non Cumulative
Period	Rate of interest pa (%), payable quarterly.
2 years	9.50
3 years	10
Additional Incentives	Senior Citizens : 0.25% Shareholders : 0.25% Employees : 0.25%

More …

Apollo Hospitals Fixed Deposits

2009-07-18T10:49:00.001-07:00

Apollo Hospitals, invites fixed deposits from the public.

1, 2 and 3 year terms are available across Non-cumulative and cumulative schemes.

Details are as below:

Company		Apollo Hospitals Enterprise Limited.
Business		Runs modern super-speciality hospitals, pharmacies and consultancies in various metros (Ahmedabad, Bangalore, Chennai, Hyderabad, New Delhi etc…)
Minimum amount of deposit		Rs. 25,000/- and multiples of Rs. 1,000/ thereafter for both schemes
Interest Payments		Scheme A (Non-cumulative) : Interest shall be paid quarterly. Scheme B (Cumulative) : Interest shall be compounded monthly and paid on maturity
Mode of Interest payments		Scheme A : Post dated interest warrants, shall be sent for each financial year. ECS facility available.
Payment		Cash/Cheque/Draft, payable at Chennai, in favour of 'Apollo Hospitals Enterprise Limited – Deposit A/C'
Ratings & Reviews		Credit Rating : NA
Application		Download
TERMS
SCHEME A – Non Cumulative			Scheme B – Cumulative
Period	Rate of interest pa (%), payable quarterly.		Period	Rate of interest pa (%) compounded quarterly	Minimum amount of deposit (Rs.)	Amount payable on maturity (Rs.)	Effective Yield pa (%)
1 year	9.00		1 year	9.00	25,000	27,345	9.38
2 years	9.25		2 years	9.25	25,000	30,059	10.12
3 years	9.50		3 years	9.50	25,000	33,207	10.94
Additional Incentives	15% concession on room rent and all investigations at Apollo Hospitals. Discount coupon is tranferable. First named deposit holder is covered under Group Personal Accident Insurance scheme to the extent of the value of the deposit. Senior Citizens : NIL Shareholders : NIL Employees : NIL

J.K. Industries invites fixed deposits from the public

2009-07-18T09:46:00.001-07:00

J.K. Industries (manufacturers of J.K. Tyres and Vikrant tyres), invites fixed deposits from the public.

1, 2 and 3 year terms are available across Non-cumulative and cumulative schemes.

Details are as below:

Company	J.K. Industries
Minimum amount of deposit	Rs. 10,000/- and multiples of Rs. 1,000/ thereafter for both schemes
Interest Payments	Scheme A (Non-cumulative) : Interest shall be paid quarterly on March 31, June 30, September 30^th and December 31^st and on maturity. Scheme B (Cumulative) : Interest shall be compounded quarterly and paid on maturity
Mode of Interest payments	Scheme A : Post dated interest warrants, from the date of acceptance of deposit upto the following March 31^st shall be sent in advance. Post Dated Cheques for subsequent years, shall be sent by April 25thof each year.
Payment	'A/c Payee Cheque/Bank Draft' in favour of 'J.K. Industries Ltd.'
Ratings & Reviews	Credit Rating : NA
Application	Download
TERMS
SCHEME A – Non Cumulative		Scheme B – Cumulative
Period	Rate of interest pa (%), payable quarterly.	Period	Rate of interest pa (%) compounded quarterly	Minimum amount of deposit (Rs.)	Amount payable on maturity (Rs.)	Effective Yield pa (%)
1 year	9.50	1 year	9.50	10,000	10,984	9.84
2 years	10.00	2 years	10.00	10,000	12,184	10.92
3 years	10.00	3 years	10.00	10,000	13,449	11.50
Additional Incentives	Senior Citizens : NIL Shareholders : NIL Employees : NIL

Jindal Steel and Power launches Fixed Deposit Scheme

2009-04-25T07:10:00.000-07:00

Jindal Steel & Power Limited has launched a fixed deposit scheme, with durations of 12, 24 and 36 months. Interest can be obtained either at maturity of the term or in quarterly intervals.

The rate of interest varies between 8% and 8.5% pa, depending on the duration.

Application forms are available at the company's web site.

Fixed Income in India

2009-04-25T07:06:00.000-07:00

Ever wanted to discuss regarding Fixed Income/Debt Funds/Fixed Deposits, in India. This is the portal, you should be a part of.