Written on August 29, 2011 at 11:49 am by Amit

Zenith Birla Fixed Deposit Scheme

Filed under Fixed Deposit, Fixed Income {no comments}

Company Profile: Zenith Birla (India) Ltd

Zenith Limited, incorporated in 1960 is a part of The Yash Birla Group. Its Steel Pipes Division located at Khopoli, 80 kms from Mumbai, went into production in a record time of eighteen months. This Division ranks as one of the pioneers amongst Steel Pipe manufacturers of India. Till 1971, Zenith manufactured Steel Pipes By ERW process. Thereafter, the manufacturing Process was converted to the latest technology of High Frequency Induction Welding (HFIW) process.

Besides, Steel Pipes Division, the Zenith Ltd. consists of an international Trading House, units Manufacturing intermediate products for industrial machines, textiles, chemicals etc. The company has 2 subsidiaries one each at Dubai & US which imports steel from India & distributes them locally.

Features and Benefits of Zenith Birla (India) Ltd. Fixed Deposit Scheme:

Minimum amount of deposit to be accepted is Rs. 10,000 and in multiple of Rs. 1,000 thereafter
Post dated Interest Warrants for each financial year will be dispatched in advance
Income Tax will not be deducted upto interest Rs. 5,000 in a Financial Year
In case of Single deposit of Rs. 1,00,000 and above, additional interest of 0.25% p.a. will be offered, irrespective of the period of deposit.
An additional interest of 0.50% shall be paid to the following category, provided the applications are received directly by the Company : (a) Shareholders of Zenith Birla, or (b) Employees of Yash Birla Group, or (c) Senior Citizens (60 Years)
Nomination facility available
Premature withdrawal permissible as per the statutory guidelines and at the discretion of the company

Interest Rate of Zenith Birla (India) Ltd. Fixed Deposit Scheme:

Scheme A: Non-Cumulative Scheme (Interest payable Half Yearly)
Period (Months)	Minimum Deposit (Rs)	Interest Rate (p.a.)
12	10,000	9.00%
24	10,000	10.50%
36	10,000	11.00%

Scheme B: Cumulative Scheme (Interest compounded Half Yearly)
Period (Months)	Minimum Deposit (Rs)	Maturity Value (Rs)	Interest Rate (p.a.)	Effective Yield (p.a.)
12	10,000	10,920	9.00%	9.20%
24	10,000	12,271	10.50%	11.36%
36	10,000	13,788	11.00%	12.63%