| Depositing
with Housing Finance Companies have multiple advantages.
Apart from high returns and safety, the deposits are eligible
for tax benefits also.
» Interest
from housing finance scheme is eligible for deduction
under section 80L upto Rs 12,000 in a Financial Year.
» Provision
relating to tax deduction at source shall be applicable
if interest earned is more than Rs 5,000 in a financial
year.
» HDFC Ltd
the leading name in housing finance was incorporated
in 1977. The fixed deposit scheme has been given AAA
rating by Crisil and Care respectively. (See table1)
A subsidiary of Sundaram Finance Limited Sundram Home
Finance was incorporated in 1999. The fixed deposit
scheme has been given MA rating by ICRA for adequate
Safety. (See table 2)
Birla Home Finance Limited (BHFL) a part of KKBirla
Group provides a wide range of fixed deposit products
with safety, liquidity and high returns. (See table
3)
HUDCO was incorporated on 25th April,
1970 by the central government. The scheme has been
given a Credit Rating of FAA+ by CRISIL , MAA by ICRA
and AA + (FD) by CARE. There are three schemes offered
by Hudco, these are:
| HDFC Ltd -Table
1 Rating- AAA |
| Rate of
Int (% pa) |
| 1yr |
2yrs |
3yrs |
4yrs |
5yrs |
Fresh/
Renewal |
Region |
|
6.05
|
6.30
|
6.55
|
6.55
|
6.55
|
F/R
|
Mumbai
|
|
|
Sundaram Home Finance Table
2 (Rating-MAA-)
|
| Rate of
Int (% pa) |
| 1yr |
2yrs |
3yrs |
4yrs |
5yrs |
Fresh/
Renewal |
Region |
|
6.25
|
6.50
|
7.00
|
7.00
|
7.00
|
F/R
|
-i
|
|
|
Birla Home Finance Table
1 (Rating-MA)
|
| Rate of
Int (% pa) |
| 1yr |
2yrs |
3yrs |
4yrs |
5yrs |
Fresh/
Renewal |
Region |
|
6.00
|
6.25
|
6.50 |
6.50 |
6.50 |
F/R
|
Delhi
|
|
|
Hudco Public Deposit Scheme
Table 4 (Rating-AAA)
|
| Rate of
Int (% pa) |
| 1yr |
2yrs |
3yrs |
4yrs |
5yrs |
Fresh/
Renewal |
Region |
|
6.25
|
6.50
|
6.75 |
6.75 |
6.75 |
F/R
|
Delhi
|
|
|
