A fixed deposit scheme has been launched by EPC Industries. The scheme has been launched for one, two and three years respectively. It requires a minimum investment of Rs. 15, 000 and further investments are to be made in multiples of Rs. 1000 and so on.
EPC Industries is a manufacturing company which manufactures micro irrigation systems like drip and sprinklers, parts of drip and sprinklers, industrial pipes and special pipes used for the distribution of water and gas.
The interest rates for one year deposits have been kept at 10 percent; two year deposits attract rates of 10.5 percent and three year deposits have interest rates of 11 percent. In case an investor wishes to break a deposit in the first six months itself, no interest will be provided on the deposit. In addition to this, breaking a deposit before its maturity will not attract more than 9.5 percent interest in any case.
It is to be noted that corporate fixed deposits are unsecured and illiquid investments, although, generally they offer more interest than interest offered by bank fixed deposits.