National Housing Bank (NHB) Deposit Scheme

National Housing Bank (NHB) is a statutory organization that was established on July 9, 1988. It is the apex level financial institution for the housing sector in the country and a wholly owned subsidiary of the Reserve Bank of India.

NHB is offering three deposit schemes at attractive rates of interest.

NHB SUNIDHI Term Deposit Scheme: It is a term deposit scheme for Individuals/HUFs/Partnerships/Societies & Trusts & Association of persons. The minimum deposit in the scheme is Rs. 50,000 with a maturity period ranging from 12 months to 60 months.

The below interest rates are effective from October 31, 2011

NHB SUNIDHI Term Deposit Scheme
Duration of Deposit All Others For Senior Citizens
Interest Rate (%) Annualised Return (%) Interest Rate (%) Annualised Return (%)
12 Months 9.5 9.84 10.1 10.49
24 Months 9.5 9.84 10.1 10.49
36 Months 9.25 9.58 9.85 10.22
60 Months 9.25 9.58 9.85  10.22
  • Interest rates offered above are as on date and computed on quarterly compounding basis.
  • Deposit Amount: Minimum of Rs. 50,000 and higher in multiples of Rs. 10,000/-.
  • Who can deposit: Individuals / HUF / Societies / Trusts / Partnership Firms /Association of Persons
  • Interest option under the Scheme: Cumulative Interest Option / Non- Cumulative Interest Option.
  • Premature Withdrawal option: Premature encashment is available (subject to certain conditions).
  • Nomination: Available
  • TDS on interest: Deduction of Income-tax at source from interest payments will be governed by the provisions of the Income Tax Act, 1961, as in force from time to time, and the rules frame there under. As per the present provisions U/S 194A of the Income Tax Act, 1961, interest upto Rs. 5000/- in a financial year is exempt from deduction of tax at source.
  • Ceiling on Deposit: Maximum Aggregate amount under Sunidhi Term Deposit should not exceed Rs. 1 crore per Depositor.

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