HDFC Ltd. India’s premier housing finance company, is introducing ‘HDFC Systematic Savings Plan’ [HDFC SSP], a first-of-its-kind deposit product, which offers a variable rate of interest. It is a monthly savings plan, where one can deposit a fixed sum every month to accumulate a larger capital for future needs. This plan will be available February 3, 2010 onwards to all resident individuals in select Indian cities where ECS facility is available.
Announcing the launch of the HDFC Systematic Savings Plan, Mr. V.S. Rangan, Executive Director, HDFC Ltd. said, “HDFC has always been quick to recognize the market pulse and set higher benchmarks of service delivery through introduction of pioneering products and services. HDFC SSP is a disciplined approach to wealth creation. It allows the investor to adopt a systematic and dedicated approach to financial planning by inculcating a regular savings habit according to his convenience and ability. We have developed this unique installment plan keeping in mind the safety and growth requirements of especially the younger working individuals. For investors looking at earning assured returns over a 2-5 year horizon, SSP will surely emerge as an attractive investment avenue.”
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