Indian Hotels revises FD scheme
PTI
Mumbai, March 17
Indian Hotels Company, a Tata Group firm, has revised its fixed deposit scheme and will now offer 9.5 per cent interest for a two-year deposit and 10 per cent for three-year deposits. The company had launched the scheme in August last year to raise funds and offered 6.25 per cent interest rate on a three-year deposit.
The earlier scheme allowed only shareholders to invest in the scheme, but the revised one, in which the minimum deposit amount is Rs 25,000, will allow the public to invest. As per rules, Indian Hotels can raise Rs 498.16 crore from the public and Rs 199.26 crore from members by way of deposits.
The company raised Rs 3.08 crore by way of FDs as on March 31, 2008.
