Hawkins Cookers offers up to 8% on fixed deposit
- Hawkins Cooker FD is rated AA Stable by ICRA and is a long-standing product in the market
- In September 2019, the company had FDs worth ₹22 crores on its books. As of July 29th, the figure for existing FDs had gone up to 34 crore
On 15th September, Hawkins Cookers Ltd opened pre-registration for its Fixed Deposit (FD). The FD scheme is offered in 3 tenors - 12 months, 24 months, and 36 months. The company is offering interest rates of 7.5%, 7.75%, and 8% respectively on the three tenors. For payment of interest, the company is offering two options - half-yearly and cumulative. In half-yearly payment, you receive interest twice a year whereas, in the cumulative option, you receive interest at the end of the tenor. The cumulative option allows the interest portion to also compound monthly and hence your yield increases to 8.3%. Existing FD holders can also renew their FDs. For this, they must register their interest in renewal online at least 10 days before the maturity of the FD.
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