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Snapshot

 
Snapshot

National Housing Bank (NHB) has launched a Special Deposit Scheme for Housing Finance Companies. The Scheme has been rated FAAA by CRISIL and tAAA by Fitch indicating highest safety with regard to timely payment of financial obligations. The Deposit Scheme is open only to the HFCs accepting deposits from public and the amount deposited with NHB under the scheme would be an eligible investment for SLR requirement under Section 29B(2) of the National Housing Bank Act, 1987.
Minimum deposit accepted under the scheme is Rs.25,00,000/-(Rs. twenty five lacs) and in the multiple of Rs.5,00,000/- (Rs. five lacs ) thereafter , upto Rs. 5,00,00,000/- (Rs. five crores) for duration of 18 months to 60 months. For any deposit amount above Rs. 5,00,00,000/- (Rs five crores), prior approval from NHB is mandatory. The interest rates on offer are as follows:

Existing Interest Rates

Revised Interest Rates
(w.e.f. 30/11/2009)

Duration

Interest Rate*
(in % p.a.)

Duration

Interest Rate*
(in % p.a.)

18 Months to < 2 Years

2 Years to < 3 Years

3 Years to < 5 Years

7.25

7.25

7.25

18 Months to < 2 Years

2 Years to < 3 Years

3 Years to < 5 Years

6.00

6.00

6.00

*Interest rates offered above are as on date on quarterly compounding basis. NHB retains the right to change/modify the above rates at any point of time for fresh deposits

For further details or clarification please contact us at Phone Nos. 011-24617832/24617019 & mail your queries at rajeevs@nhb.org.in