Swayamsidha Deposit is tailor made deposit scheme from DHFL specially designed for women customers with a higher rate of interest compared to similar deposits.
The interest rate offered at public sector banks are very low say around 7-8.5 per cent. Women customers can make most out of it, due to the benefit of higher interest rate.
5 Reasons why one should consider
1. The deposit offered at a interest rate of 9.10% for a period of 18 months.
2. There is a free insurance cover of Rs 1 lakh to individual depositor in case of single deposit account and every first depositor in case of joint deposit account.
3. An additional rate of 0.25% can be availed by privileged* women customers and senior citizens under the same scheme.
4. DHFL Fixed Deposits has been rated AAA by CARE and BWR FAAA by Brickworks and assure highest degree of safety regarding timely servicing of financial obligations.
5. Swayamsidha FDs are available with a minimum investment of Rs 10,000/- (Rupees Ten Thousand Only).
There also a facility to avail loan against the deposit.
Other things to consider
# Do make a nomination for your Fixed Deposit while applying for the FD
# Do submit form 15G/15H, if applicable
# It is always better to check past company performance before investing
# Do ask for the FD receipt after the investment
It is also important to remember that there would be a TDS on this fixed deposit as applicable to company fixed deposits. At the moment, a sum beyond Rs 5000 would attractt a TDS of 10 per cent.
Also, while most banks offer an interest rate of around 8 per cent, one can avail of an interest rate of as much as 9.1 per cent. Not a bad proposition, in a falling interest rate regime.