Birla Shloka Edutech Limited has launched its Fixed Deposit Scheme for the tenure of 1 to 3 years offering interest rate 11.50% to 12.50% per year.
- Minimum amount of deposit to be accepted is Rs 10,000/- and in multiples of 1,000/- thereafter.
- Nomination facility available.
- Premature withdrawal permissible as per the statutory guidelines and the discretion of the Company.
- Income tax will not be deducted up to an interest amount of Rs 5000/- in a Financial Year, subject to any change in the applicable Tax Laws.
- In case of single deposit of Rs 1, 00,000/- and above, additional interest of 0.25% p.a. (for a period up to two years) will be offered, irrespective of the period of deposit.
- In case of Senior Citizens (60 years & above) an additional 0.50% p.a interest (for a period up to two years) will be paid.
- Senior Citizens will also have an option to receive interest warrants on quarterly/half yearly basis.
- The additional interest rate of 0.50% given to senior citizens and 0.25% given if the deposit is more than Rs. 1,00,000/-, in this regard both the schemes can’t be clubbed together i.e. a senior citizen when applied will get an additional interest of 0.50% but if his investment is more then 100000/- then he will not get the additional benefit of 0.25%, he will only avail the benefit of 0.50% and not of 0.25%.
- In any case the interest rate will not exceed for more than 12.50%
- The interest rate of 12.5% is higher by 3% than that offered by most banks.
- The company belongs to Yash Birla Group.
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 7.95% to 8.64%.
About Birla Shloka Edutech Limited:
- It is a Yash Birla Group Company.
- Birla Shloka Edutech limited is one of the education companies in India and is engaged in sales & services of varied products to education institutions.
- The Company is also engaged in IT and IT enabled education in schools of varied boards. The Company has also setup computer labs, Digital classroom solutions and Audio Visual solutions in schools, along with our software product “XL@school”, which is a curriculum based interactive multimedia software for mathematics and science subjects.
- The company is listed on BSE
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