Deposits

Deposits for all the Individuals

Can Fin Homes Ltd is a recognized housing finance company by National Housing Bank and is permitted to accept deposits from the public. Accordingly we accept two types of deposits, i.e. Fixed Deposit and Cumulative deposit. Under both types we have the general scheme, the senior citizen scheme and trust deposit scheme. All these schemes are designed to suit the needs of the common man. The details of these schemes are briefed below:

Interest rate structure on our deposit schemes is as follows with effect from 29/06/2017.


Fixed Deposit Scheme/Cumulative Deposit Scheme

 

Period of deposits in months

Deposits upto Rs.1 cr

Bulk deposits :   >Rs.1 cr

General Public

Senior Citizen

12

7.00%

7.50%

7.00%

13-36

7.10%

7.60%

7.10%

37–60

7.25%

7.75%

7.25%


1.    Bulk deposits are those deposits with amount from Rs.1,00,00,001/-.

2.    The above interest rates are applicable on all deposit products (as indicated above), accepted / renewed on or after 29/06/17.

3.    The above indicated additional interest of 0.50% for senior citizens will be available only for all deposits upto Rs.1 crore. Interalia, the said additional interest is not available for bulk deposits.

4.    For Fixed deposits, minimum amount eligible for acceptance/renewal shall be  Rs.20,00,000/- for payment of monthly interest.

Minimum deposit amount: Rs. 5 lakh for payment of quarterly, half yearly or yearly interest(not eligible for monthly interest)

5.    For Cumulative deposits, minimum amount for acceptance/renewal is Rs.20,000/- (interest compounded quarterly and payable on maturity).

6.  Minimum Period of deposits is 12 months.


Additional interest of 1% will be paid on deposits of our staff members (who are on rolls or retired)


Minimum & Maximum Amount of Deposit

The minimum amount accepted by us under Fixed Deposit Scheme is Rs.20,00,000/- for payment of monthly interest

The minimum amount accepted by us under Fixed Deposit Scheme is Rs.5,00,000/- for payment of quarterly, half-yearly and yearly interest.

 The minimum amount accepted by us under Cumulative Deposit Scheme is Rs.20,000/-.

Period of Deposit
The minimum period for which we accept deposits is 12 months and the maximum period is 60 months.

Deposit application forms & other annexures
Deposit Application forms can be downloaded from this site or can be obtained from any of our branches.  Along with deposit application, one passport size photograph of the depositor, copy of PAN card, copy of ID proof and Address proof should also be submitted.

How to make the Deposit
Deposits can be made by A/c payee cheque/demand drafts/RTGS/NEFT drawn in favour of Can Fin Homes Ltd.

TDS applicability
TDS on interest on deposits is applicable whenever the interest amount exceeds Rs. 5000/- in a financial year.  15H and 15G forms will be available in our branches to  avail exemption from TDS wherever applicable.

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