Organisation :Housing & Urban Development Corporation Ltd
Facility : Register Public Deposit Scheme
Home Page :https://hudco.org.in/Site/FormTemplete/frmTemp1PLargeTC1C.aspx
Download here :https://www.statusin.in/uploads/1342-af-fa.pdf
Register Public Deposit Scheme :
Regular Plus Multiplier Plus Cash Certificate General Instructions Deposit Repayment Loan Against Deposit Premature Withdrawals Application Form Customer Identification Broker List Bonds
Related : Ministry of Urban Development Smart Cities Mission : www.statusin.in/10090.html
Regular Plus
PDS Scheme Housing and Urban Development Corporation Limited Invites Deposits under Public Deposit Scheme
Highlights
** Safe Investment
** High Returns
** Easy Liquidity
** Advance Interest Warrants (For HUDCO Regular Plus)
** Tax benefit under Section 80C (2)(xvi)(a) of Income-tax Act, 1961.
** Tax Benefits – Trust deposits are specified investment under section 11(5) (ix) of Income Tax Act, 1961.No tax deduction at source from interest paid/credited up to Rs.5,000/- in a financial year.
** Interest compounded on quarterly basis
** Credit Rating ‘tAA+(ind)’ by FITCH and ‘CARE AA+(FD)’ by CARE
** Loan facility against Deposit (excluding deposits received u/s 80C)
Periodic Income Scheme(w.e.f. 03.02.2015) :
** Deposit Calculator In this scheme a person can earn interest every quarterly/half yearly/yearly as per the rates
** Period of Deposit (Months) Rate of Interes ( %p.a.)
** For Individuals and HUF Depositers Minimum Deposit of Rs.50000/- Qty ** Hly ** Yly Rate of Interest ( %p.a.)
** For Other Depositors (Company,Firm,Trust etc) Minimum Deposit of Rs.50000/- Qty ** Hly ** Yly
** Minimum deposit amount is Rs :50,000/-. Additional amount in multiples of Rs. 5,000/-.
** Interest compounded on quarterly basis.
** 0.25% p.a. extra interest for Sr. Citizens of 60 years and above age. Age to be supported by attested copy of a passport or birth certificate or high school / 10th class certificate/PAN Card/Valid LIC Policy/ Driving License etc. Figures in brackets (#) have been indicated accordingly.
** Loan against deposit eligible upto 75% of deposit amount except in case of deposits received u/s 80C of IT Act.
Tax Benefits :
** HUDCO Public Deposit Scheme qualifies under Section 80C (2)(xvi)(a) of Income-tax Act, 1961. Accordingly, the deposits with minimum lock in period of 5 years made under HUDCO Public Deposit Scheme will qualify for deduction from gross total income upto Rs. 1,00,000/-.
** The above tax benefit is only for individual and HUF investors.
General :
** All new depositors shall provide proper introduction at the time of submitting deposit, introduction can be given by either the existing depositor or on the basis of one of the following i.e. Income tax permanent account number, Election identity card, Passport or Ration Card.
** Interest shall be rounded off to the nearest Rupee i.e., upto 50 paise will be ignored. Interest and deposit amount will be paid by crossed Account Payee Cheque payable at par of all branches of designated bank drawn in favour of the first name depositor.
** The interest on deposit will cease on the date of maturity e.g. if a deposit is maturing on 15th Oct 2013. The interest on deposit will not accrue after 15th Oct 2013. If the FD is not surrendered for repayment unless renewed, interest will accrue thereafter only if the deposit is renewed as per terms prevailing on the date of expiry.