Dewan Housing Finance Corporation (DHFL), founded in 1984, allows a vast population of society to avail of economical housing with its attractive SD schemes. An FD in DHFL comes with exquisite interest rates and a lengthy tenure of up to 10 years. The DHFL FD rates range from an attractive value of 8.25% to 8.95% per annum for the general clientele and around 8.65% to 9.35% for senior citizens. The tenure starts at 12 months, going up to around 120 months.
DHFL INTEREST RATES FOR REGULAR AND SENIOR CITIZENS
|TENURE||REGULAR CUSTOMERS||SENIOR CITIZENS|
Dewan Housing Finance Corporation has certain eligibility criteria that the clients need to remember before making the decision to start an account and enjoy the benefits of the DHFL corporate FD rates. The following criteria need to be fulfilled in order to start an account –
- Indian Resident
- Hindu Undivided Families
- Non-Resident Indians
They should possess the following to be eligible to start an FD account with DHFL.
- Identity card of the individual
- Address proof
- PAN card
- A working telephone/contact number
- A permanent residential address
- PAN card
- 2 passport-size photographs
- Address Proof (like telephone bill, electricity bill, ration card, or statements of the bank account)
- Identity Proof of the individual(passport, Aadhar card, driving license, voter ID)
- Fixed Deposit Scheme application form filled and duly signed
Dewan Housing Finance Corporation allows a tenure of one year (12 months) to 10 years (120 months) for its FD schemes. Monthly, quarterly, half-yearly, and annual DHFL FD payments for the interests are offered. An additional interest of 0.4% is provided for customers with privileges as well as senior citizens. The organisation allows auto-renewals and auto-repayment options to all its clientele. All FD renewals get an additional 0.15% interest, according to DHFL FD rates policies, terms and conditions.
Clients can visit the nearest DHFL FD branch to open and create an FD account with them. Complete the provided DHFL FD application form pdf, submit the necessary paperwork and documentation and pay the required deposit. The organisation will provide an FD receipt after verifying and processing the application. Customers can fill out the DHFL FD claim form in order to avail their entitled interests during the tenure of their deposit/investment. To know more about the different payments and fixed deposit schemes, contact the DHFL FD customer care service or visit the nearest branch.
DHFL FD rates come in two different terms.
- Medium-Term Deposits – these FD schemes for medium-terms are applicable for a term of one year to less than 5 years. The interest rate ranges from an attractive value of 8.25% to 8.95%.
- Long-term Deposits – these FD schemes for long-terms are applicable for the term of 5 years to around 10 years. The interest rate value is 8.95%.
A loan against a Fixed Deposit conveniently allows the public to obtain loans with their FDs as collateral or security. The loan amounts, as well as the rates of interest for the loan, are decided on the basis of principles and rules set forward by Dewan Housing Finance Corporation. Up to around 75% of the principal deposited amount can be issued as a loan to the investors of this organisation.
Following three months from the date of the money deposit in the FD account, DHFL FD premature withdrawal is permitted. For tenure that is completed at least 3 months, but before the completion of 6 months, an interest rate of 4% will be due. Additionally, if the fixed deposit’s tenure is finished after 6 months but before its actual completion, then the interest rate on the principal will be reduced by 1% from what was originally stated. An interest rate of 2%, reduced from the minimum rate, will be taken into consideration by GHFL if no specific date is indicated.
DHFL FD rates under the short-term corporate scheme of the Fixed Deposit programme provide a tempting discount. A minimum principal deposit of Rs. 10 lakhs must be made under this programme, and the DHFL corporate FD rates range from a value of 7.55% to 8.40% for a duration of 31 days to 364 days.
DHFL FD Rates FAQ’s:-
Customers can easily utilise the formula mentioned below to calculate the compound interest on their principal amount.
A = P (1 +r/n)^nt
To avoid the hectic manual and lengthy calculations to calculate interest and returns on your fixed deposits, DHFL has come up with its DHFL FD calculator available online to obtain an accurate result. It helps customers make several adjustments before making any investment choices.
The interest that is earned on the invested amount in fixed deposit schemes of DHFL is subjected to TDS, where if the total interest earned by an individual from a single account exceeds an amount of Rs. 40,000, then a TDS rate of 10% is levied and deducted. In the case of an account owned by a senior citizen, the total interest amount is increased to Rs. 50,000.
If one wishes to open an account with DHFL, then the minimum amount of money to be deposited for an FD account as principal is Rs. 5000.
The online DHFL FD calculator can be used to calculate interest returns for DHFL FD programmes. The clients need to enter the desired amount to be invested along with the investment tenure. Then the calculator will compute the desired results.
Dewan Housing Finance Corporation allows its clients to avail of loan facilities against their investments in fixed deposit schemes. The loan amounts, as well as the rates of interest for the loan, are decided on the basis of principles and rules set forward by Dewan Housing Finance Corporation. Up to around 75% of the principal deposited amount can be issued as a loan to the investors of this organisation.