National Housing Bank(NHB) offers term deposits as well as tax-saving deposits at attractive interest rates, currently superior to a number of banks. With the strong backing of parent RBI, sound asset quality and adequate capitalization the company has a AAA-rating awarded by credit rating agencies. This rating denotes highest degree of safety in term of servicing your deposits and lowest credit risk.

NHB is a principal agency to promote housing finance institutions and is wholly owned by the Reserve bank of India. It directs, guides and also lends banks and housing finance companies to promote housing activities. Having been launched under an act of parliament in 1988, the company is backed by the government. Hence your deposits are not subject to credit risks. NHB’s latest published financials for FY-12 did not have any non-performing asset. Net profits expanded by a healthy 18 per cent compounded annually over the 3 years ending FY-12 to Rs 387 crore.

WHAT IS RATING?

FAAA and TAAA rating by CRISIL and FITCH respectively

WHAT ARE THE SCHEMES AVAILABLE?

This company offers deposits of duration ranging from 24 months to 60 months and the interest rate ranges from 6.75% to 7.0% p.a.

HOW TO INVEST?

1. Applications for Deposits in the prescribed Form duly signed by all the joint applicants and accompanied by cheques or demand drafts should be sent to Wealth India Financial Services Pvt Ltd.
2. Payments can be made from the online payment gateway provided by FundsIndia.com. In case the payment are made through cheques or demand draft then the payment should be made by means of an Account Payee cheque / demand draft made payable to " NHB SUNIDHI Term Deposit” payable at par at the centers where the application is submitted..
3. Deposits will be accepted from Resident individuals, HUFs, Domestic Company, Charitable institutions and Minors (through their guardians only).
4. Signature by thumb impression must be attested by a Magistrate or a Notary Public or a Special Executive Officer under his Official Seal.

HOW IS FIXED DEPOSIT RECEIPT MAILED?

1. Fixed Deposit Receipts shall be mailed by courier or Registered/Speed Post within 6 weeks of the date of realization of the Cheque, at the address of the first applicant given in the Application Form. The Company shall not be responsible for any loss or delay in transit.
2. In case of loss or destruction or mutilation of the Deposit Receipt, the Company may at its sole discretion issue a duplicate receipt subject to compliance with its terms and conditions including an indemnity duly signed by all the joint depositors. All expenses in this connection will be borne by the depositor(s).
3. Fixed Deposit Receipts will not be transferable. The Company may however, at its discretion permit the addition of one name to the Deposit Receipt under certain circumstances and subject to such terms and conditions as it may deem fit. The Company will not accept or recognize any lien on or assignment of the Fixed Deposit Receipt for a loan taken from or by arrangement with the Company.

HOW IS THE PAYMENT OF INTEREST MADE?

Interest will be payable on the deposit from the date of realisation of cheque / demand draft or RTGS transfer to HDFC's bank account. Interest on deposits placed under Monthly Income Plan , Non-Cumulative Option and Annual Income Plan shall be paid on fixed dates as given below :

Cumulative	On Maturity
Non-Cumulative - Half Yearly Option	September 30 and March 31

WHAT IS THE RENEWAL/REPAYMENT OF DEPOSITS PROCEDURE?

For renewal or repayment of deposit, the duly discharged deposit receipt must be surrendered to NHB at least a week before the date of maturity. In case of renewal, the prescribed application form signed by all depositors is also required to be submitted simultaneously. When the date of maturity falls on any day on which NHB office remains closed the repayment will be made on the next working day. Repayment of deposit will be made by "Accout Payee" cheque drawn favouring the first depositor or by crediting the amount directly to first depositor's bank account through NEFT, based on request from the depositor.

WHAT IS THE PREMATURE WITHDRAWAL PROCEDURE?

Request for premature withdrawal may be permitted at the sole discretion of the corporation only and cannot be claimed as a matter of right by the depositor, subject to the Housing Finance Companies (NHB) Directions, 2001 as applicable from time to time. Premature withdrawal will not be allowed before completion of 3 months from the date of deposit. In case of request for premature withdrawal after the expiry of three months, the rates given in the following table shall apply

Months completed from the date of deposit	Rate of Interest Payable
After 3 months but before 6 months	No Interest
After 6 months but before the date of maturity	The interest payable shall be 2% lower than the interest rate applicable for the period for which the deposit has run or if no rate has been specified for that period, then 3% lower than the minimum rate at which the public deposits are accepted by HDFC. In respect of variable rate deposit, the interest rate applicable for the period for which deposit has run would be considered as applicable on the respective interest reset dates.

Head Office
National Housing Bank
Core 5-A, India Habitat Centre,
Lodhi Road, New Delhi-110003
(PBX) 011-2464 9031-35
Fax : 011-2464 9030
E-mail: ho@nhb.org.in