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Sejal Glass forays into the Fixed Deposit Market

Post Time:Feb 13,2009Classify:Company NewsView:404

Sejal Architectural Glass Limited (SAGL), a leading player in the architectural glass solutions, as part of its strategic initiative to reach out to the masses, has introduced a fixed deposit scheme by inviting deposits from the public, shareholders and employees of the company.

SAGL will offer non-cumulative and cumulative fixed deposit schemes for a period of 1, 2 and 3 years bearing an interest of 11.5%, 12% and 12% per annum respectively. In the cumulative scheme the Company proposes to also launch a six monthly fixed deposit scheme at 11% per annum. The minimum investment amount for its fixed deposit scheme will be Rs. 10,000/- and in multiples of Rs. 1,000/- thereafter.

The company as part of its corporate social responsibility will offer 0.50% additional interest per annum for its employees, company shareholders, senior citizens, physically challenged individuals, defence personnel, para-military forces and ex-servicemen-women.

Mr. Amrut Gada, Chairman & Managing Director, Sejal Architectural Glass Limited said "Sejal is the only Company till now in the Corporate Fixed Deposit Market to offer additional interest to the category belonging to Defence Personnel, Para-Military Force, Ex-Servicemen and the physically challenged. We expect a positive response on our new initiative and the money mobilised from the FD scheme will be used for meeting the working capital requirement needs of the Company."

Source: Moneycontrol.comAuthor: shangyi

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