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.
- 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.
|Scheme A – Non-Cumulative|
|Period||Rate of Interest|
|Scheme B – Cumulative|
|Period||Rate of Interest||Yield||Maturity Value (for investment of Rs 20,000)|
- 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