Written on February 13, 2011 at 4:10 am by Amit

Amrit Corp. Limited Fixed Deposit Scheme

Filed under Fixed Deposit, Fixed Income {no comments}

Company Profile: Amrit Corp. Limited

Amrit Corp. Limited, formerly known as Amrit Banaspati Company Ltd., is the flagship holding company of the Amrit Group. It is a public limited company listed on the stock exchanges at Mumbai and Kanpur. Starting off in the year 1940, Amrit Corp. set up various businesses including edible oils, writing & printing paper, dairy milk & milk products, real estate and services to emerge as a diversified conglomerate.

Amrit Corp. is now into following activities:

UHT dairy milk, flavoured mik, dairy mixes and milk/milk based products
Real Estate i.e. development of residential township, commercial spaces and group housing complexes
Services i.e. corporate & strategic advisory services and BPO/back-office services to the Group Companies

Features and Benefits of Amrit Corp. Limited Fixed Deposit Scheme:

Minimum amount of deposit to be accepted is Rs. 5,000 and in multiple of Rs. 1,000 thereafter
Additional interest rate of 0.5% would be paid for Senior citizens and shareholders of the company (min 100 shares)
Income Tax will not be deducted upto interest Rs. 5,000 in a Financial Year
Nomination facility available
Premature withdrawal permissible as per the statutory guidelines and at the discretion of the company

Interest Rate of Amrit Corp. Limited Fixed Deposit Scheme:

Scheme A: Non-Cumulative Deposit Scheme (Interest Payable Quarterly)
Period (Years)	Minimum Deposit Amount (Rs)	Rate of Interest (p.a.)
1	5,000	9.00%
2	5,000	9.50%
3	5,000	10.00%

Scheme B: Cumulative Deposit Scheme (Interest compounded quarterly)
Period (Years)	Minimum Deposit Amount (Rs)	Maturity Amount (Rs)	Rate of Interest (p.a.)	Effective Yield (p.a.)
1	5,000	5,465	9.00%	9.32%
2	5,000	6,033	9.50%	10.33%
3	5,000	6,742	10.00%	11.50%