Gruh Finance Ltd. Fixed Deposit interest rate up to 8.25% p.a.
Company Profile
Gruh Finance Ltd (formerly known as Gujarat Rural Housing Finance Corporation) was incorporated in 1986 to provide financial services mainly for rural housing, construction/up gradation of dwelling units, and to developers. The company came out with an FCD issue in 1994-95, which was oversubscribed. Keeping in view the competitive environment and the emerging challenges, the company has introduced new loan products like site finance and loans for non-residential premises. It also plans to finance land development projects. The company received a rating of “MA+” (1999-2000) for its fixed deposit programme from Investment Information & Credit Rating Agency of India. To focus on poorer households in rural and semi-urban areas, the company decided to set up Gruh Foundation. Also, during the year 1999-2000, GRUH opened four new retail office in Amravati, Chandrapur, Modasa and Palanpur and three service centres – one in Pune and two in Surat and hence total retail network now consists of 28 offices – 17 in Gujarat and 11 in Maharashtra. Due to the stiff competition, the company has introduced three-tier pricing strategy linked to the duration of the loan. The company was the first HFC to re-introduce the 20 year home loan product in the market. During the year 2000-01, Housing Development Finance Corporation Ltd., (HDFC) the largest shareholder of the company acquired 68,90,000 equity shares from Gujarat Ambuja Cements Ltd.,(GACL) in July 2000.
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[su_spoiler title=”Who can apply / invest?” open=”yes” style=”fancy”]
Who can apply / invest?
Resident Individual/ NRI / HUF / Minor / Trusts / Firms / Association Persons.
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[su_spoiler title=”General Terms & Conditions” style=”fancy”]
General Terms & Conditions
1] Cumulative Growth Plan – Interest Compounded Annually on 31st March and payable on maturity.
2] Non-Cumulative Scheme – Interest Payable Monthly / Quarterly / Annually.
a) Monthly Income Plan – Interest will be paid last date of every month.
b) Quarterly Income Plan – Interest will be paid every quarter on 1st July, 1st Oct, 1st Jan & 31st March.
c) Annual Income Plan – Interest will be paid each year on 31st March.
3] Minimum amount of deposit to be accepted is Rs. 20,000/- and in multiples of Rs. 1,000/-.
4] Additional rate of 0.25% p.a. rate for Sr. Citizens / Trust Depositors.
5] Interest payment will take place through ECS / Post Dated Cheques.
6] Nomination facility is available.
7] Fixed Deposit Receipt(FDR) will be dispatched directly to the depositor by registered post /courier service at the address provided in the application form within 08(eight) weeks or such extended period as may be decided by Company, from the date of DD/cheque realisation.
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[su_spoiler title=”Important Information (Instructions)” style=”fancy”]
Important Information (Instructions)
Attach following document along with the application form:-
1] Self attested copy of PAN Card and address proof (all the applicants in case of joint applications).
2] Stick Passport size photograph of sole applicant on application form.
3] Signature of all applicants on the application form.
4] At par A/c Payee Cheque / DD (payable at Pune) should be drawn in favour of “GRUH FINANCE LTD”.
5] One cancelled cheque (for ECS).
6] Send your application form on our address.
7] The Acknowledgement copy will be sent by Email / Post.
8] Keep photocopy of application form for your record.
9] Free Home Service is available.*
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For Renewal of Deposit
Send us below mentioned documents along with the Original FDR
1] Stick Rs.1 Revenue stamp on the back side of fixed deposit receipt and across Signed by all depositors.
2] Signature of all applicants on the application form.
3] Self attested copy of PAN Card and address proof (all the applicants in case of joint application)
4] One cancelled cheque (for ECS).
5] Stick Passport size photograph of sole applicant on application form.
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[su_spoiler title=”Interest Rates (%)” style=”fancy”]
Interest Rates (%)
| Period | Monthly | Quarterly | Annual / Cumulative |
|---|---|---|---|
| 12-23 Months | 7.25% | 7.50% | 7.75% |
| 24-35 Months | 7.50% | 7.75% | 8.00% |
| 36-120 Months | 7.75% | 8.00% | 8.25% |
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[su_spoiler title=”Profit & Dividend” style=”fancy”]
| Year | Profit Before Tax | Profit After Tax | Dividend % |
|---|---|---|---|
| 2015 | 300.84 | 203.80 | 100 |
| 2014 | 244.46 | 176.96 | 150 |
| 2013 | 196.81 | 145.88 | 125 |
| 2012 | 162.76 | 120.34 | 115 |
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[su_spoiler title=”Download Application Form” style=”fancy”]
Please take print of the Application Form on A4 paper size.
Gruh Finance Ltd Fixed Deposit Application Form
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