Bengal Pincon Housing Infrastructure Limited has launched its Fixed Deposit Scheme for the tenure of 6 months to 3 years offering interest rate 11.50% to 12.50% per year.
Scheme Highlights:
- The deposit will be accepted in multiples of Rs 1000/- subject to a minimum of Rs. 20,000/-.
- For Scheme ‘A’ – Non Cumulative Deposits, interest will be paid quarterly, on 31st March, 30th June, 30th September, 31st December & on maturity.
- For Scheme ‘B’ – Cumulative Deposits, interest will be compounded at quarterly basis & paid on maturity.
- Interest Warrants will be payable at par major centers all over India. Post dated interest Warrants will be issued in advance for each financial year.
Interest Rates:
| Scheme A – Non-Cumulative | |
| Period | Rate of Interest |
| 12 Months | 11.75% |
| 24 Months | 12.25% |
| 36 Months | 12.50% |
| Scheme B – Cumulative | |||
| Period | Rate of Interest | Yield | Maturity Value (for investment of Rs 20,000) |
| 6 Months | 11.50% | 11.50% | 21,150 |
| 12 Months | 11.75% | 12.40% | 22,480 |
| 24 Months | 12.25% | 13.60% | 25,520 |
| 36 Months | 12.50% | 15.07% | 29,044 |
Why invest?
- The interest rate of 12.5% is higher by 3% than that offered by most banks.
Why not to invest?
- Company fixed deposits are unsecured and illiquid.
- Interest income from company fixed deposits is taxable and for those in the highest tax bracket the post tax return works out to a mere 8.29%.
- The company is not very well known and there are other companies of more repute offering similar interest rates.
About Bengal Pincon Housing Infrastructure Limited:
- This is West Bengal based Infrastructure Company
- Has PPP venture with Contal Municipality (Govt. of WB) of Rs 22 Crores
- Has PPP venture with Egra Municipality (Govt. of WB) of Rs 85 Crores
- Other Construction Project of Rs 100 Crores
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