DEWAN HOUSING FINANCE CORP. LIMITED – FAQs
Aashray Deposit Plus (ADP)
Q.1 - What is Aashray Deposit Plus
(ADP)?
ADP is the DHFL’s Fixed Deposit
Product launched on the 1st June 2010.
Q.2 - How Long is the ADP Scheme
Open?
ADP is open till notice to the contrary.
Q. 3 - Who are Eligible to Invest
in ADP?
Individuals / Jt.Individuals/ NRIs/
PIOs/HUFs/ Trusts /Corporates/Co- Op.Soc./Clubs/Associations/Banks
etc.
Q.4 - What is the Tenure of ADP?
Not below 12 and not above 84 months.
Q.5 - What are the various Schemes?
Cumulative, Non Cumulative , Certificate & Small Savings Schemes.
Q.6 - What are the Rates of Interest
Offered for different periods?
Click
here to view latest Interest rates table.
Q.7 - What is the extra Interest
Payable to the Privileged Customer?
25 bps above the Normal Rate
Q.8 - Who is considered a Privileged
Customer for the benefit of Interest in DHFL ADP Schemes?
Senior Citizen, Widow, Armed Forces
Personnel, Existing DHFL Home Loan Borrower & DHFL Shareholder.
Other than Senior citizen all benefit is in offline cetegory only.
Q.9 - What are the Rates Offered
to Privilege Customer?
Refer to latest Interest rates table.
Q.10 - What is the Mini:/Maxi:
amount Investible in ADP?
Minimum Amount – Rs. 2000/-,
Maximum Amount – No Limit.
Q.11 - Can an NRI/PIO Invest in
ADP?
Yes, NRI can Invest in ADP.
Q.12 - If so, is it on Repatriable
/ Non- Repatriable ?
It is on Non – Repatriable Basis
(NRO Deposits) as per RBI Guidelines.
Q.13 - Since the Deposit is Non
Repatriable basis, Can an NRI Invest from NRE Accounts?
Yes, he can Invest in ADP by transfer
of funds from NRE/FCNR/NRO Accounts. Alternatively, he can remit directly from overseas through banking channels.
Q.14 - What are the periods allowed
in NRI Deposit?
Not below 12 and not above 36 months.
Q.15 - Whether Premature Closure
of ADP is allowed?
Yes, it is allowed.
Q.16 - What are the guidelines
for Premature Closure of ADP?
Here is a Lock-in-period of 3 months
for closure as under:
a. Lock in period of 3ms from deposit
date No Closure allowed
b. After 3 ms but < 6 ms. No Interest
Allowed
c. After 6 ms but < 12 ms 3 % lower
than the mini. Rate offered ,i.e. 10.25 – 3 =7.25 %
d. After 12 ms but before maturity
2% lower than the deposit run period.
Q.19 - Is Loan against FD allowed?
Yes, Loan is allowed.
Q.20 - What are the guidelines?
Q.21 - Will the Income Tax be Deducted
at source on Interest earning?
Income tax will be deducted at source
on Interest of Rs. 5000/- & above.
Q.22 - What is the TDS Tariff?
TDS @10% from 1st April
2010 with PAN Card or 20% without PAN Card.
Q.23 - Can ADP Receipt be a Collateral
Security to Loan?
Yes, Acceptable as Collateral Securities
against DHFL Loan.
Q.24 - Is there any free Insurance
cover?
Yes, every individual depositor is
offered a free accidental Insurance cover of 1Lac.
Q.25 - What is the Unique Selling
Points (USP) / Unique Set of Advantages (USA)?
(1) Higher Returns
(2) 25 bps Extra Earnings on
Deposits of Rs. 25 Lacs & Above / Privil. Customer. Hence, ROI on the scheme
is 10.25 to 10.75% p.a.
(3) Higher Safety as indicated
by FAAA Rating by Brickwork & FAA+ FD by care.
(4) Higher Liquidity with only
3 ms Lock In Period.
(5) ECS payments for Interest
/ Brokerage.
(6) Free Accidental Insurance
Cover.
(7) Competitive Brokerage/
Payout.
Q.26 - Is Insurance Benefit available
to same Individual Depositor for every subsequent deposits he makes.
No, Regardless of the number of deposits
he/she makes or the amount of deposit every individual depositor is covered with
Rs. 100000/- accidental