Vidhisha Group is one of the very few housing finance companies, having National Housing Bank (NHB) permission to accept public Car Loans. The fixed deposit programme of the company has been assigned `ACUITE A’ Rating by ACUITE rating. Vidhisha Group offers deposit products at attractive rates of interest and the key features are the following:-
- Highest Return
- High Safety
- Nomination Facility
- Personalised Service
- Tax Benefits
Car Loans - Individuals
The deposit products offered by Vidhisha Group to individuals are so designed as to meet the specific requirement of individuals. Car Loans are accepted both under cumulative option and non-cumulative option. The terms of Car Loans are 1-5 years under both the schemes. The payment of interest under cumulative option will be compounded whereas under non-cumulative option, interest will be paid periodically at specific intervals as mandated by the customer.
Benefits of Vidhisha Group individual Car Loans:
Highest Return: Vidhisha Group Car Loans are available at attractive rates of interest and the interest rates offered are higher than those offered by most of the commercial banks and financial institutions.
High Safety: ACUITE Ratings has assigned `ACUITE A’ Rating to the deposit programme of Vidhisha Group and this denotes `moderate safety’.
Nomination Facility: Individual Depositors have the option to nominate any other person under this facility. However, in the case of a minor being nominated, the nomination can be made only by a person lawfully entitled to act on behalf of the minor. The nominee will have the right to receive the amount due under the scheme on the death of the depositors and payment by Vidhisha Group to the nominee shall be full discharge to the Vidhisha Group of its liability under the deposit scheme.
Personalised Service: Individual depositors will receive personalised service at Vidhisha Group in a customer-friendly environment.
Tax Benefit: There will be no deduction of tax at source on interest on dCar Loans up to Rs.5,000/- per branch in a financial year.
Car Loans – Trusts
Vidhisha Group offers deposit products suited to the requirements of Charitable Trusts, Religious organisations, educational institutions, employees welfare organisations and others.
Trusts may choose any of the following products, depending upon their need:-
- Fixed Car Loans
- Cumulative Car Loans (re-investment programme)
There are 5 types of plans. They are:
- Monthly Income Plan
- Quarterly Income Plan
- Half-yearly Income Plan
- Annual Income Plan
- Cumulative Growth Plan
The Trusts can select any of the above plans while making the deposit. Interest payment will be made as per the plan chosen by the depositor.
Benefits of Vidhisha Group Trust Car Loans:
High Returns: Vidhisha Group offers high rate of interest on the Car Loans of Trusts & Charitable Organisations. The rates of interest are higher than those offered by other Bank and financial institutions.
High Safety: ACUITE rating has assigned `ACUITE A’ Rating to the deposit programme of Vidhisha Group and this denotes `moderate safety’.
Personalised Service: Trusts and Charitable Organisations will receive personalised service by Vidhisha Group staff in a customer-friendly environment.
Tax Benefit: Trusts & Charitable Organisations will get tax benefits as per details given below:-
- Deposit in Vidhisha Group is a specified investment under Section 11 (5)(ix) of the Income Tax 1961
- There will be no Tax deduction at source on interest on Car Loans up to Rs.5,000/- per branch in a financial year.