Sumeet Industries Limited Fixed Deposit Scheme

Sumeet Industrues has begun fixed deposit for a occasion frame of 1-2 and 3 years respectively. The lowest amount amount of asset is Rs 20,000 and in multiples of Rs 1,000 after that. The annualized yield is as high as 15.07 Percentage for a three year fixed deposit. At the same time as the yield looks fine, check several indications to deposit in the scheme.

Sumeet Industries is an Surat Based and in the textile business with a spinning capacity of 100,000 TPA. It fabricates and exports pet chips, polyester yarn & polypropylene yarn. It has Twenty Years of track record in textile sector. Sumeet Industries listed in NSE and BSE and has a track record of paying dividend for the last three years.

Fixed Deposit scheme is available in Cumulative & Non-cumulative schemes.

1} Silent Features of Cumulative Fixed Deposit scheme:

  • Your interest would be calculated monthly and would be paid at maturity.
  • Minimum investment is Rs. 50,000. You can devote additional amounts in multiples of Rs. 1,000.

SCHEME: 1 Non-Cumulative Fixed Deposits

Period

Minimum Amount {In Rs.}

Rate of Interest % P.A

One Year

50,000

12.00%

Two Years

50,000

12.25%

Three Years

50,000

12.50%

2) Silent Features of Non-Cumulative Fixed Deposit scheme:

  • Your interest would be calculated monthly and would be paid at the end of the quarter.
  • Minimum investment is Rs. 20,000. You can invest additional amounts in multiples of Rs. 1,000.
SCHEME: 2 Cumulative Fixed Deposits

Period

Minimum Amount                                  {In Rs.}

Rate of Interest % P.A

Amount Payable On Maturity {Rs}

Effective Yield {%} P.A

One Year

20,000

12.00%

22,536

12.68%

Two Years

20,000

12.25%

25,520

13.80%

Three Years

20,000

12.50%

29,042

15.07%

3) Common features for mutually cumulative and non-cumulative fixed deposits:

  • Post dated interest cheques should be dispatch in advance. Also post dated principal repayment cheque would be sent along with Fixed Deposit acknowledgment.
  • Tax Deductions would be deducted as per applicable rates.
  • Nomination facility is accessible.
  • Pre-mature withdrawal is available after six months. On the other hand 2 percent would be reduced as penalty from original interest rates.

Read more in detail for  Sumeet Industries Limited Fixed Deposit Scheme.

Why to Invest:

The interest rate of 12.5 percent per annum is upper by 300-350 basis points than that offered by the majority banks. Sumeet Industries is profit making and dividend paying. It places a grid profit of Rs 19.15 crore for the year ended March 2013.

Why you should not invest:

Sumeet Industries fixed deposits be unsecured and illiquid. Interest income from business fixed deposits is chargeable and for individuals in the highest tax group the post tax return works out to a meager 8.67 Percent. As of March 2013, and 55.42 percent of the promoter shareholding is oath.

Termination: Sumeet Industries Fixed deposit scheme interest rates are good-looking. It has good quality track record of profits and it pays dividend for the last three years. On the other hand, in case of urgent need, one cannot withdraw the amount as there is a 2 percent penalty on original interest rate. Bearing in mind this, an investor who is willing to take risk, can invest moderate investment in such fixed deposit schemes.