Fund Based Services

GSFS offers two products one of which is Liquid Deposit Scheme (LDS) and the second is the Inter Corporate Deposit (ICD). While LDS is generally opted by entities placing their funds for very short tenor of even less than 15 days, ICD is preferred by the entities wanting to deploy their funds for a longer tenor.

GSFS is wedded with the task of providing dual advantage of enhancing the returns of the Government of Gujarat entities as well as providing them enough liquidity. The details of both the products as are mentioned below.

Inter Corporate Deposit

GSFS pays interest rate for the different tenors towards the Inter Corporate Deposits placed by various Government of Gujarat entities. The present interest rates offered by GSFS for different tenors are as under:

(W.E.F. 16th October, 2023)
ICD Tenure
ICD Rate
15 days to 90 days 6.50% p.a.
91 days to 180 days 7.00% p.a.
181 days to less than 1 year 7.25% p.a.
1 year to 3 years 7.50% p.a.

Interest to be paid on premature withdrawal of ICD at 0.50% below the rate applicable for the period ICD has remained with GSFS. However, to extend more benefits to GoG entities, in cases of partial premature withdrawals, the remaining principal amount of ICD will continue at the original rate till maturity.

The loan against ICD is provided upto 85% of the ICD amount @ 1% higher than the ICD rate.

# For Repayments, please intimate not later than 2.00 p.m. on prior working day. No repayment on Saturdays.

AUTO RENEWAL FACILITY: With a view to provide operational convenience to our depositors, GSFS has implemented AUTO RENEWAL FACILITY for ICDs placed by GoG Entities w.e.f 15th November 2018. Under this facility, in case of no instructions, the ICDs will be automatically renewed alongwith interest at applicable rate of interest for same period on maturity date.

However, if any entity wishes to avail full/partial repayment or wants to change any other terms of maturing ICD, it shall send written instruction alongwith duly discharged ICD receipt to GSFS atleast 3 WORKING DAYS BEFORE the maturity date. For this purpose, GoG entities may download the ICD FORM from GSFS website.

Liquid Deposit Scheme

This scheme offers the facility of earning interest on funds of very short tenure, even for less than 15 days, which otherwise typically earn no interest lying in a current account and there are no other avenues for deployment of such funds.

Under this scheme, an organization can place funds with GSFS even for less than 15 days. GSFS parks these funds in money market operations ensuring maximum safety and liquidity. The investor is paid fixed rate of interest which is @5.75% p.a. effective from 16th October 2023 onwards, on the funds placed by it in the Liquid Deposit Scheme.

# For Repayments, please intimate not later than 2.00 p.m. on prior working day. No fresh placements or repayment on Saturdays.


The preference for deploying funds by GSFS is Government of Gujarat controlled entities at competitive rate, which enhance their competitiveness also.

GSFS provides Financial Assistance to the Government of Gujarat entities in the form of following products:

  1. Inter Corporate Deposit
  2. Line of Credit
  3. Short term and Medium Term Loan

Keeping in view the safety of the funds, the company is investing remaining funds in the money market and with RBI registered primary dealers till it gets the opportunity to cater the need of any Government of Gujarat entity.