PERSONAL FINANCE
The minimum application amount is Rs 10,000 across all options and in multiples of one NCD after that
The non-convertible debenture issue of Dewan Housing Finance Corporation Limited (DHFL) will open on May 22. The coupon rate is between 8.9 and 9.1% across various tenors, said a press release issued by DHFL.
The minimum application amount is Rs 10,000 across all options and in multiples of one NCD after that. Investors can apply demat as well as physical form. The issue has been rated ‘AAA’ by rating agencies.
In Series I the tenor is three years and the coupon rate is 8.9% for all investors. In Series II, the tenor is five years and the coupon rate is 9% for retail individual and High Networth Investors (HNIs). In Series III, the tenor is seven years and the coupon rate for retail investors and HNIs is 9%. In Series IV, the tenor is 10 years. The coupon rate for retail investors is 9.1% and HNIs is 9%. Retail investors are those applying for up to Rs 10 lakh and HNIs are those applying for more than Rs 10 lakh.
There is also a floating interest rate option, where the tenor is three years and the coupon is Benchmark MIBOR plus spread of 2.16%.
Senior citizens will get an additional interest of 0.1% per annum.
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