The Pune-based, Sudarshan Chemicals has introduced fixed deposits schemes for a time frame of one, two and three years.
The minimum amount of investment is Rs 25000 and in multiple of Rs 5000 thereafter. Interest on fixed deposit will be paid in a quarterly basis. There is no cumulative option for the fixed deposit. For one year deposit the interest paid will be 9.5%, for two years interest charged will be 10% and for three years interest charged will be 11%.
Senior citizens, shareholders and employees are eligible for a 0.25% extra interest. Premature withdrawal is possible after the completion of six months but you may have to pay a penalty of 2% on the original interest rate.