Thursday, May 7, 2020

Can Fin Homes public deposit rates, Canara Bank

Can Fin Homes  Public Deposit Scheme

Can fin Homes was promoted by Canara Bank in the year 1987. Canara Bank is a Nationalised Bank listed in 1991. 




Fixed Deposit

Deposits are Fixed-term deposits repayable after an agreed period fixed at the time of making the deposit. The interest on the deposit is payable periodically i.e. monthly/quarterly/half-yearly/yearly as per the request of the depositor.

Terms:


  • The minimum amount accepted by us under the Fixed Deposit Scheme is Rs.10,00,000/- for payment of monthly interest
  • The minimum amount accepted by us under Fixed Deposit Scheme is Rs.2,00,000/- for payment of quarterly, half-yearly and yearly interest.
  • The minimum period of deposits is 12 months and the maximum period is 60 months.
  • Bulk deposits are those deposits with amounts from Rs.1,00,00,001/- (Rupees One Crore and one only).
  • Additional interest of 0.50% for senior citizens, aged 60 years and above paid for deposits up to 
  • Rs.1,00,00,000/- (Rupees One crore only). Interalia, the said additional interest is not available for a bulk deposit.
  • Additional interest of 1% paid on deposits of our staff members (who are on rolls or retired).
  • For more info, visit:  https://www.canfinhomes.com/fixed-deposite.aspx


 Cumulative Deposit



A lump sum amount, accepted for a fixed period, at an agreed rate of interest where interest is paid along with 
principal amount on maturity of the deposit, is called a cumulative deposit. The interest accrued is added back 
to the principal amount on quarterly intervals. In other words, the interest earned gets compounded on a quarterly basis.

The salient points of our deposit schemes w.e.f 03/02/2020 are as under:

  • Bulk deposits are those deposits of Rs.1,00,00,001/- and above.
  • The above interest rates are applicable on all deposit products (as indicated above), accepted/renewed on or after 03/02/2020.
  • Additional interest of 0.50% for senior citizens (aged 60 years and above) will continue to be available only for deposits up to 
  • Rs.1 crore on all deposits. Interalia, the said additional interest is not available for bulk deposits.
  • For Fixed deposits, the minimum amount eligible for acceptance/renewal shall be  Rs.10,00,000/- for payment of monthly interest
  • Minimum deposit amount: Rs. 2 lakh for payment of quarterly, half-yearly or yearly interest (not eligible for monthly interest).
  • For Cumulative deposits, the minimum amount for acceptance/renewal is Rs.20,000/- (interest compounded quarterly and payable on maturity).
  • Minimum Period of deposits is 12 months and the maximum is 60 months.

Terms:

  • The minimum amount eligible for acceptance/renewal is Rs.20,000/- (Rupees Twenty Thousand only).
  • Interest is paid only on maturity along with the principal amount.
  • The minimum period of deposits is 12 months and the maximum period is 60 months.
  • Bulk deposits are those deposits with amounts from Rs.1,00,00,001/-.
  • Additional interest of 0.50% for senior citizens, aged 60 years and above paid for deposits up to 
  • Rs.1 crore. Interalia, the said additional interest is not available for the bulk deposit.
  • Additional interest of 1% paid on deposits of our staff members (who are on rolls or retired).


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