The Housing And Urban Development Corporation Of India(HUDCO) was incorporated on 25th April 1970,under companies act 1956,as a fully owned enterprise of Govt Of India.The establishment of HUDCO was to deal with the problems of growing housing shortages,rising number of slums and to accelerate the pace of construction and elimination of housing shortages.
Operational Areas of company:
1.Project financing.
2.Consultancy.
3.Research/Training.
Fixed Deposits:
Highlights of HUDCO Fixed Deposits:
1.High safety.
2.Both cumulative as well regular payment facility.
3.Advanced interest warrants in case of Regular periodic payouts.
4.Highest rating from Fitch and CARE rating agencies.
Deposit Schemes:
A) Regular Plus:
Regular payout will be paid to investor.
Min. investment: Rs.50,000/-.
Income tax benefit U/S 80C for deposits of 5 yrs.
0.25% extra for senior citizens.
Interest Rates:
| Deposit Period(Months) | Rate Of Interest | Interest Payable on deposits of Rs.50,000/-. | ||
| Quarterly | Half-Yrly | Yrly | ||
| 12 & 24 Months | 9.40% | 1175 | 2378 | 4868 |
| 36 to 84 | 9.10 | 1138 | 2301 | 4708 |
B) Multiplier Plus Deposits:
1.Interest rates are compounded quarterly.
2.Min. deposit amount is Rs.10,000/-.
3.Tax benefits U/S. 80C for deposits of period of 5 yrs.
4.Loan of 75% against deposit amount.
| Period | Rate Of Interest | Maturity value of Rs.1 Lac | Maturity Value for Sr.citizens |
| 12 | 9.40 | 1,09,740 | 1,10,000 |
| 24 | 9.40 | 1,20,420 | 1,21,010 |
| 36 | 9.10 | 1,30,990 | 1,31,950 |
| 48 | 9.10 | 1,43,320 | 1,44,730 |
| 60 | 9.10 | 1,56,820 | 1,58,740 |
| 72 | 9.10 | 1,71,580 | 1,74,110 |
| 84 | 9.10 | 1,87,740 | 1,90,970 |
If anyone is looking to invest apart from his bank and rather want to invest at another safe place,then HUDCO deposits may be a good option.
