Dewan Housing Finance Corporation Ltd. (DHLF), is a deposit-taking housing finance company registered with the NHB and focused on providing financing products for the LMI segment in India primarily in Tier II and Tier III cities and towns. It has been active in the housing finance sector in India since 1984. DHFL provides secured finance primarily to individuals, partnership firms and companies for the purchase, self-construction, improvement, and extension of homes, new and resalable flats, commercial properties and land. It also provides certain categories of non-housing loans, asset management services, mutual fund products, and insurance products. It has a robust marketing and distribution network, with a presence across 347 locations including 187 branches, 135 micro branches, 20 zonal/ regional / CPU offices, two disbursement hubs, one collection center, one Corporate office and One National office. At the time when interest rates on bank fixed deposits are low, non-convertible debentures (NCDs) offer you a chance to lock your funds at much higher interest rates. The largest-ever NCD issue of 12,000 crore by Dewan Housing Finance Corp Ltd (DHFL) opens from tomorrow at the interest rate of 8.9 percent to 9.1 percent for the period of 3 to 10 years. It also offers a loyalty bonus of 0.5 percent, 0.7 percent and 1 percent to original subscribers on the tenure of 5, 7 and 10 years, respectively. An additional interest of 0.10 percent is paid to senior citizens taking the effective yield to 9.3 percent. Last year DHFL’s maiden public issue came in August 2016 when it attracted subscription worth Rs 19,000 crore against the issue size of Rs 4,000 crore. This time DHFL is offering the interest rate of 8.9%, 9%, 9% and 9.1%, for the period of 3, 5,7 and 10 years, respectively. You can choose the tenure depending on your requirement. It offers floating interest rates based on overnight MIBOR benchmark rates plus the spread of 2.16 percent. It is a secured NCD where 65% of the issue will be available to retail and high net-worth individual. The rest will be open for subscription from institutions. These instruments are rated CARE AAA/Stable by CARE and BWR AAA/Stable by Brickwork. Instruments with this rating are considered to have the highest degree of safety regarding timely servicing of financial obligations.
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