Omnitech Infosolutions launches new fixed deposits

NEW DELHI: Omnitech Infosolutions has launched fixed deposits for tenures of one, two and three years. The minimum amount of investment is Rs 25,000 and in multiples of Rs 1,000 thereafter.

Interest on the fixed deposit will be paid quarterly, annually or on a cumulative basis. For a one year deposit you will get 11.5%, for two years 12% and for three years 12.50%. You will receive post dated interest payment cheques

Omnitech provides IT technology services which include Remote Infrastructure Management Services, Business Continuity Planning, Disaster Recovery Services, Application Services, Enterprise Solutions and Software Testing Services.

Why invest

The interest rate of 12.5% per annum is 2.5-3.0%higher than the rate offered by most banks. The company is profit making and it has posted a net profit of Rs 55.02 crore for the year-ended March 2012.

Why not to invest

Company fixed deposits are unsecured and illiquid. Interest income from company fixed deposits is taxable and for those in the highest tax bracket the post tax return works out to a mere 8.64%. As of December 2012, 29.96% of the promoter shareholding is pledged.