Muthoot Capital Services Publishes Newspaper Notice on Fixed Deposit Acceptance/Renewal
Muthoot Capital Services Limited has published a newspaper notice detailing its fixed deposit acceptance and renewal policies. The company has outlined interest rates for fresh deposits and renewals up to ₹3 Crore, effective April 1, 2025. Details on deposit tenures, eligibility, KYC, and tax provisions are also provided.
This is a standard disclosure regarding the company's fixed deposit program, which is a regular part of its operations as a Non-Banking Financial Company. It does not introduce any new business initiatives or significant financial changes that would directly impact the stock price or market perception.
The announcement is a routine regulatory filing about fixed deposit acceptance and renewal, providing information on interest rates and procedures. It does not contain any new financial performance data or strategic developments that would significantly impact the company's outlook.
Muthoot Capital Services Limited has published a notice in The Hindu Business Line (English) and Mangalam (Malayalam) regarding the acceptance and renewal of fixed deposits.
The company has detailed its interest rates for fresh deposits and renewals up to ₹3 Crore, effective from April 1, 2025. For non-cumulative deposits, the rates range from 7.65% for a 12-month Monthly Interest Plan to 8.50% for a 60-month Annual Interest Plan. For cumulative deposits, the rates vary from 7.00% for a 12-month Maturity Plan to 10.08% annualized yield for a 60-month Maturity Plan.
An additional 0.25% interest is applicable for senior citizens, excluding Non-Resident Senior Citizens. The company accepts deposits with a minimum amount of ₹1,000 for tenures ranging from 12 to 60 months. The notice also outlines the eligibility criteria for depositors, required KYC documents, details regarding joint deposits, and provisions for non-resident Indian deposits on a non-repatriation basis.
Furthermore, the company has provided comprehensive information on nomination facilities, income tax provisions including TDS deductions, renewal procedures, loan against deposits, premature withdrawal conditions, and repayment terms. The credit ratings for the company are AA-/Stable by CRISIL and AA/Stable by Brickwork. The Board approved this advertisement for deposit acceptance/renewal on August 31, 2026, and it will be valid until the next Annual General Meeting.
A plain-language summary of a public exchange filing by Muthoot Capital Services Limited. Read the original for the full detail.