Nowadays, there is a problem for retired people about interest rate reduction on month to month basis. Now banks are giving at the most 9.5% per annum which will be reduced to 9% soon. In order to preserve interest more than 11% and in good company, the following one is suggested for our followers and others who are yet to become our followers in this site.
Shriram Transport Finance – Good company having AAA rating.
Secured, Non-Convertible Debentures of Shriram Transport Finance Co. Ltd of Rs.1000 each. It is listed in Bombay stock exchange and traded in secondary stock market. The BSE code for this is 934811. The annual coupon (interest rate) is 11.6%. Interest paid annually. It will mature in 27th June 2016. Now it is available in demat form with all stock brokers. So this safest debenture can be purchased by any one who wants high interest. Also No TDS in it but interest is included in the income of individual. So why wait? Contact your stock brokers and purchase the same from stock brokers. In the same way, IIHFL with a coupon rate of 12% available but matures on April 2020 and the debenture of Rs.1000 trades at Rs. 1035 now. But I prefer the above one.
C.R. Venkata Ramani