Tuesday, October 18, 2011

Jaypee Infratech and Jaiprakash Associates Fixed Deposit - 12.5% Interest Rate

Jaypee Infratech Limited and Jaiprakash Associates Limited, part of Jaypee Group has launched respsective  fixed deposit schemes with an interest rate up to 12.50%.

Jaypee Infratech is one of the leading infrastructure company in India and was incorporated as a Special Purpose Vehicle for implementation of 165 km long 6-lane access controlled Yamuna Expressway in the state of Uttar Pradesh connecting Noida and Agra.

Both the companies are part of Jaypee Group, which is a diversified infrastructure conglomerate in India with interests in civil engineering and construction, cement, power, real estate, expressways, hospitality, Golf courses and education.The total market civilization of Jaypee Infratech Limited is Rs. 7444 crore with over 1.20 lakhs shareholders.

The fixed deposit scheme was launched on 28 September, 2011 and no end date has been specified yet. The minimum investment for Jaypee Infratech fixed deposit is Rs 20,000 and in multiples of Rs 1000 thereafter. The maximum investment for fixed deposit is Rs 10 lakhs. Deposits shall be accepted only from resident individuals, Trusts and HUFs.

There are two schemes available with Jaypee Infratech Fixed Deposits namely non-cumulative deposits and cumulative deposits:

1. Non-cumulative deposits (Interest is compounded monthly and paid quaterly)
12 months – 11.75%
24 months – 12.25%
36 months – 12.50%

2. Cumulative Deposits (Interest is compounded monthly and paid at the end of the term)
6 months – 11.25%
12 months – 11.75%
24 months – 12.25%
36 months – 12.50%

Link Intime India Pvt Ltd is the registrar to the issue.

There are few websites that are giving misleading information that Jaypee Infratech Ltd is offering 15.07% interest fixed deposit. There is a difference between interest rate and yield. 15.07% is the yield if investor invests in 36 months cumulative deposit but the interest rate remains 12.50% only. Since the compounding is monthly, the yield is higher in this case. 12.50% interest rate and 15.07% yield is high compared to other fixed deposits however one should note that it is not possible to close this fixed deposit prematurely.

For more information and application form of Jaypee Infratech FD, click here!
For more information and application form of Jaiprakash Associates FD, click here!

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