Shriram Unnati Fixed Deposits July-August 2010
After the Shriram NCD, now they have come up with Shriram Unnati fixed deposits. This fixed deposit scheme from Shriram Transport Finance Company is open from July 1, 2010 to August 31, 2010. This FD scheme from Shriram is rated as FAA+/stable by CRISIL and MAA+/stable by ICRA rating companies. Hence can be said to be almost safe to invest in them and the returns are secured as it is a profit making company which has been paying dividends to its existing investors in the company. Shriram Commercial Vehicle finance or Shriram Transport is India’s largest asset financing NDFC with over Rs. 30,000 crores of assets under its management.
Investment: The minimum investment under this new Fixed deposit scheme which opened to public on July 1, 2010 is Rs. 25,000 and in multiples of Rs. 1000 thereafter. The maximum investment is Rs. 10 crores. It will be open to public for investments till August 31, 2010.
Scheme Options: Quarterly, half yearly, annual as well as cumulative. The minimum investment period is 1 year while the maximum is 5 years for this existing Shriram FD.
Interest Rate: For 1 year period the rate of interest for the Shriram Unnati Fixed Deposit scheme is 8.75% p.a. For two years it is 9.5%, similarly the interest rate for 3, 4 and 5 years investment is 10% p.a. The investment interest rates vary for the quarterly and half yearly schemes. While the cumulative interest or effective yield for 1 year investment remains the same at 8.75% but for the 2 years is 9.95% and for 3 years it is 11.03%, 4 years it would be 11.6% and finally for the 5 years investment it is 12.21%. Remember this is not an assured yield but only effective yield especially on the cumulative schemes since the interest rate for each year is kind of re-invested (since you are getting the interest paid out) in your existing amount and hence the effective yield changes for the cumulative investment plans.
If you are looking for a fixed return yield but still relatively safer and much higher return than that of the bank deposits, the Shriram Fixed Deposits can be a safe bet for you. But as in case of any investment made on private fixed deposits, this scheme too comes with its own risk factors as such schemes are not governed or backed by Reserve Bank of India or any Government of India institutions. Hence invest in this Shriram Unnati Fixed Deposits at your discretion knowing all the risks and benefits of the same.
If you want to invest you can call 1800-200-0011 for the same.
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Comments
I would like to go for fixed deposits with monthly income. I would like to invest about 50 lacs to 80 lacs. Please suggest the best ways to get maximum monthly income. And also explain the risks involved.
Regards.
HI,
You may consider Monthly interest Fixed deposit with Bank (low FD interest and less risky) or Company Fixed deposits montly payout ( high interest and high risk), if you have a brokerage account(like icici direct) u can apply for the latter. You can apply for the former from banking site itself online, once u log in .
I want to invest in Shriram FDs as interest rates are higher.
Any opinions or feedback on FDs being invested in Shriram and services contentment.
Dear Sir,
i have given cheque of Rs. 25000/ for Unnati scheme on 12th July 2010 ch no 711592 drawn on central bank of india, however i have not received any FD receipt so far.kinldy look into the matter.. let me know.