National Housing Bank (NHB) an apex housing financial institution has launched three fixed deposit schemes, with a tax-saving scheme. NHB is offering interest rate of up to 9.25 per cent.
In a statement released by NHB it stated, “The funds mobilized would be used by the NHB for its business activities”.
Under Sunidhi term-deposit scheme, one of the schemes launched by NHB the investors would get 9.25 per cent interest for 12 months and 9 per cent interest for up to five years.
While under NHB tax saving Suvrigdhi investors will get an interest rate of 8.75 per cent. Under this scheme the deposit will have a lock-in period of five years.
Another scheme launched by NHB is Sumeru zero-coupon bonds, which will be sold at a discount at Rs 4,360 with a face value of Rs 10,000. The holder will get the amount after a maturity period of 10 years.
May 8, 2009 at 10:46 am
Interest rates are reduced hugely as on 08th May’09.
ELSS FD int rates is just 8%, similar to any other private/PSU banks.
May 8, 2009 at 5:43 pm
Hi Krish,
Yes… The FD interest rates are reduced. Banks like HDFC offers only 7.5% p.a. It may not come down further.
Thanks,
Krishna
January 17, 2010 at 9:01 pm
It’s been written “Under Sunidhi term-deposit scheme, one of the schemes launched by NHB the investors would get 9.25 per cent interest for 12 months and 9 per cent interest for up to five years.”
Are the interest rates other way around?