GRUH accepts deposits from Registered TRUSTs, registered with the Charity Commissioner or a similar Authority or Regulator set up to monitor the activities of the TRUSTs. GRUH offers 25 bps over and above the regular rate of interest applicable on the GRUH’s Deposits, to such TRUSTs who place their money in deposits with GRUH.
Kindly note that these TRUSTs shall be solely and directly responsible for the compliance of the regulation of the respective Governing Authority/Regulator governing such TRUSTs. GRUH shall in no way be held responsible for any non compliance of any of the regulation by the TRUSTs. The Trustees of the depositor TRUSTs shall therefore take responsibility to comply with the rules and regulations as laid down by the respective Governing Authority/Regulator, in respect of the deposits placed at GRUH.
The taxability of the interest paid on deposits placed under the “TRUST” category will be governed by the prevalent Income Tax Rules.
Acceptance of deposits under the “TRUST” category will be at the sole discretion of GRUH. GRUH reserves the right to discontinue acceptance of deposits under this category at any time.