Manipal Housing Finance FD Interest Rates

Manipal Housing Finance FD Rates

Cumulative Growth Plan

Tenure	Interest Rates (% p.a.)
1 year	8.25
2 years	8.25
3 years	8.25
4 years	7.75
5 years	7.75

Monthly Income Plan

Tenure	Interest Rates (% p.a.)
1 year	7.95
2 years	7.95
3 years	7.95
4 years	7.50
5 years	7.50

Quarterly Income Plan

Tenure	Interest Rates (% p.a.)
1 year	8.00
2 years	8.00
3 years	8.00
4 years	7.55
5 years	7.55

Half-Yearly Income Plan

Tenure	Interest Rates (% p.a.)
1 year	8.10
2 years	8.10
3 years	8.10
4 years	7.60
5 years	7.60

Annual Income Plan

Tenure	Interest Rates (% p.a.)
1 year	8.25
2 years	8.25
3 years	8.25
4 years	7.75
5 years	7.75

Types of Manipal Housing Finance FD Schemes

• Depositors can opt for either a monthly/quarterly/half-yearly/annual income plan or a cumulative growth plan
• Minimum deposit amount:
  • Monthly Income Plan: Rs 10,000
  • Quarterly Income Plan: Rs 5,000
  • Half Yearly Income Plan: Rs 5,000
  • Annual Income Plan: Rs 1,000
  • Cumulative Growth Plan: Rs 1,000

Features of Fixed Deposit

• Deposits in cash are accepted up to Rs 19,900 provided no deposits are outstanding as of the date of the deposit, otherwise the deposits will be accepted by “Account Payee Crossed” Cheque/Draft/Pay Order only
• Joint deposits can be held in maximum 3 names
• Instant loan facility is available against deposits
• Nomination facility is also available
• Interest Payment:
  • Under the Non-Cumulative Option, interest will be paid monthly/quarterly/half yearly from the date of deposit.
  • Under the Annual Income Plan interest will be paid annually from the date of deposit.
  • Under the Cumulative Option, interest is compounded annually and is paid on maturity along with the principal
• The interest will be paid by crossed “Account Payee” cheque drawn in the favour of the first depositor

Premature Withdrawal of Fixed Deposits

• FD can be prematurely withdrawn after a lock-in period of 3 months from the date of the deposit.
• The following rates will be applied for premature withdrawals of FDs after 3 months:

Months completed from the date of deposit	Interest Rates payable
After 3 months but before 6 months	4% p.a. for the individual depositor and others no interest
After 6 months but before the date of maturity	1% less than the interest rate applicable for the duration completed. If no rate has been specified, 2% less than the minimum interest rate

Loan Against Deposits

• Loan can be granted after 3 months from the date of deposit
• Loan against deposit is available for up to 75% of the balance outstanding in the FD account (including accrued interest)
• Depositors availing of the loan need to pay a 2% above the deposit rate
• Loans are granted at MHFSL’s discretion