HDFC Mutual Fund is launching HDFC FMP 370Days November 2008 (1) on the dates as mentioned below.
This FMP Scheme will be closing in line with the maturity of HDFC FMP 26M August 2006 (1) on 6th November 2008.
HDFC FMP 370D November 2008 (1)Opening Date - 3rd November 2008 (Monday)Closing Date - 6th November 2008 (Thursday)Maturity Date - 11th November 2009.
Yields will be known shortly.
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Investment Scenario Analysis for 370D FMP - An Illustration
Bank Fixed Deposit** Fixed Maturity Plan - 370D
Wholesale Plan - Growth Option Retail Plan - Growth Option
With Indexation Without Indexation With Indexation Without Indexation
Investment Amount (Rs.) 10,000 10,000 10,000 10,000 10,000
Assumed Net Yield to investor (p.a) 10.00% 10.50% 10.50% 9.55% 9.55%
Tenor (Days) 370 370 370 370 370
Amount at Maturity (Rs.) 11,013.70 11,064.38 11,064.38 10,968.08 10,968.08
Assumed Indexation Rate (%) N.A 5%
Interest/Long Term Capital Gain 1,013.70 1,064.38 1,064.38 968.08 968.08
Indexed Cost of Acquistion N.A. 10,500.00 N.A 10,500.00 N.A
Indexed Gain/ (Loss) N.A. 564.38 1,064.38 468.08 968.08
Tax Rate ^ * 33.99% 22.66% 11.33% 22.66% 11.33%
Tax on Interest on FD/ Capital Gain on MF 344.56 127.89 120.59 106.07 109.68
Post Tax Income 669.14 936.49 943.79 862.01 858.40
Post Tax Yield (Simple Annualised) 6.60% 9.24% 9.31% 8.50% 8.47%
* Including surcharge @10%, Education Cess @ 2% and Secondary and Higher Education Cess @ 1%
^ Assumed to be in the highest tax bracket
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