The KCP Limited Fixed Deposit Schemes
After the Mahindra Finance Fixed Deposit and Shriram Unnati Fixed Deposit another new scheme which is open for public is the KCP Limited Fixed Deposits. It is open for the public and its existing shareholders indefinitely until they announce and close the same, till then they will start accepting new deposits. The KCP Group is a Chennai based company which involves in engineering, cement, Hydel power, biotech, software development, technologies and much more industries in India.
There are going to be two schemes in which one can start investing their money. Scheme 1 and Scheme 2, where the scheme 1 you will get your interest paid quarterly while the scheme 2 is a cumulative deposit where you will get all your returns including your principal and interest at the end of the term.
Scheme 1 Fixed Deposits:
Under this scheme, as mentioned above The KCP Limited will be paying you the interest every quarter via account payee cheques payable at par on selected branches of Axis Bank and HSBC Bank. The minimum amount of deposit under this scheme is Rs. 21,000 and thereafter in multiples of Rs. 1000. The interest amount will be paid on every quarter on July 30, September 30, December 31, and March 31 of each year.
Interest Rate: Under this scheme the interest rate for your deposit for one year is 10%, while for 2 years it is 10.25% and for 3 years it is 10.50% and the same will be, as mentioned above, paid via cheque.
Scheme 2 Fixed Deposits:
This is a cumulative option of deposit where the interest will be paid only on maturity while it is calculated compounded quarterly.
Interest Rate: The interest rate for 1 year under the cumulative scheme is 10%, for 2 years it is 10.25% and 3 years 10.50% but since being a cumulative scheme the interest rate will be like invested back and you will get further interest for the same and hence the effective yield will be 10.38%, 11.22% and 12.16% for 1, 2, and 3 years respectively. For every Rs. 21,000 invested you will get back Rs. 23,180, Rs. 25,712, and Rs. 28,659 for one, two and three years respectively.
The registrar for the KCP Fixed Deposit scheme is Integrated Enterprises. And you can contact them for all your deposits related information and details. You can contact your financial advisor or any of the investment planners if you are planning to invest in The KCP Limited Fixed Deposit in any of the schemes as mentioned above.
As I have told previously all these private fixed deposit schemes can assure you guaranteed returns but they come along with certain risks and cannot always be guaranteed that you get back your investment back due to various reasons and hence put some thoughts before you actually invest and this particular fixed deposit from KCP does not come with any ratings from credit rating companies like CRISIL, ICRA, etc., and hence the risk is much higher when compared to those that are rated like the Mahindra Finance and Shriram Fixed Deposits.
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I WANT TO INVEST RS. 10.00 LACS IN A SAFE CO WHICH GIVES A MONTHLY RETURN OF 12-15K. PL SUGGEST.