General Terms of Acceptance

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General Terms of Acceptance

  1. The deposit acceptance activity of GRUH is regulated by National Housing Bank (NHB) and if NHB changes any of the directions of the Housing Finance Companies (NHB) Directions 2010 then GRUH retains the discretion to change any of the terms and conditions, including interest rate, in accordance with the changes carried out by NHB to the extent and from such date, as may be decided by GRUH.
  2. The NHB has granted a certificate of registration to GRUH for carrying on the business of a housing finance institution vide Certificate No. 01.0015.01 under Section 29 A of the National Housing Bank Act, 1987.
  3. GRUH also retains the discretion to vary the terms and conditions as it may deem fit, provided such alterations are not inconsistent with the Housing Finance Companies (NHB) Directions 2010 as are in force from time to time.
  4. Deposits placed with GRUH are exempt from Wealth - Tax.
  5. Income-tax will be deducted at source from interest, wherever applicable, as per Statutory requirements.
  6. The fixed deposit programme is rated  "MAAA" by ICRA Ltd, and "FAAA" by CRISIL – both NHB approved rating agencies
  7. The deposit acceptance activities of GRUH are regulated by NHB. It must, however, be distinctly understood that the National Housing Bank does not undertake any responsibility for the financial soundness or for the correctness of any statements or representations made or opinions expressed by GRUH, and for repayment of deposits/discharge of liabilities by GRUH. GRUH deposits programme is designed in accordance with NHB regulations with the objective to channelize resources for housing.

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