GRUH Finance is a subsidiary of HDFC Ltd.
Company Overview : Incorporated in the year 1986 on 26th July, as Gujarat Rural Housing Finance Corporation Ltd., and was changed to GRUH Finance Ltd in the year 1995-96 is a Housing Finance Company recognized by National Housing Bank. GRUH offers loans to individuals for purchase, construction, repairs, renovation of dwelling units, Self-employed and also to professionals for purchase of office premises. GRUH has 120 offices in 7 states of the country viz Gujarat, Maharashtra, Karnataka, Rajasthan, Madhya Pradesh, Chhattisgarh and Tamil Nadu.
Ratings : GRUH deposits are rated MAA+ by ICRA and FAA+ by CRISIL
Who Can Apply : Fixed Deposit can be placed by Resident Indians/Trusts/Minors through Guardians/Association of Persons/HUF/Proprietory Concerns and Partnership firms.
Fixed Deposit Plans and ROI
| Period |
Monthly Income Plan |
Quarterly Option |
Annual Income Plan |
Cumulative Growth Plan |
| 12 - 23 Months |
9.00% |
9.25% |
9.50% |
9.50% |
| 24 - 35 Months |
9.25% |
9.50% |
9.75% |
9.75% |
| 36 - 47 Months |
9.50% |
9.75% |
10.00% |
10.00% |
| 48 - 59 Months |
9.50% |
9.75% |
10.00% |
10.00% |
| 60 - 71 Months |
9.50% |
9.75% |
10.00% |
10.00% |
| 72 - 83 Months |
9.50% |
9.75% |
10.00% |
10.00% |
| 84 Months |
9.50% |
9.75% |
10.00% |
10.00% |
| Minimum Amount |
20,000/- |
2,000/- |
2,000/- |
1,000/- |
| Interest Paid |
- |
Every Qtr |
Every Year |
Annually |
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Additional Benefits : 0.25% additional Interest Rates (p.a) for Senior Citizen above 60 years and Trusts
- GRUH is a recognized Housing Finance Company by NHB.
- Trust Deposit placed with GRUH qualify under the category of specified investment as defined under section 11 (5)(ix) of the income Tax Act, 1961.
- No TDS on interest on deposit upto Rs.5000/- per financial year.
- Loan against individual deposits as per NHB guidelines.
- ECS facility available for payment of interest on non-cumulative deposits.
- Advance Interest warrants for one financial year.
- Premature withdrawal facility as per existing NHB directives.
- Exempted from Wealth Tax.
- Nomination facility available.
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