Rating agencies like Crisil, ICRA and CARE offer ratings to the fixed deposits of companies. This is very necessary since fixed deposits of companies are not secure deposits and in the past there have been numerous companies that have defaulted on payment of principle and interest amounts. Here are seven highly rated company fixed deposits in India.
HDFC Fixed Deposit
The Fixed Deposits from HDFC come with the Highest safety of a AAA rating from both CRISIL and ICRA and have been so for the last 19 consecutive years. The cumulative option currently offers an interest rate of 9.50 per cent for 15, 22 and 33 months under the Platinum Fixed Deposit Scheme.
Sundaram Finance Offers an interest rate of 9.25 per cent on its cumulative scheme for 12 months and 18 months, while the 24-months and 36-months deposit fetches an interest rate of 9.50 per cent. The Deposits are rated MAAA by ICRA.
Mahindra and Mahindra Finance
The Mahindra and Mahindra Finance Fixed Deposit has a Crisil rating of 'FAAA', and offers a yield of as much as 11.03 per cent under the 36-month option and 11.48 per cent under the 60-month option. A good rate when compared to banks.
The PNB Housing deposit offers high safety assurance through a FAAA rating by CRISIL. The deposits come with an interest rate of 9.5 per cent across various tenure ranging from 12 months to 60 months.
LIC Housing also has a FAAA rated fixed deposits scheme. The interest rates under the various schemes range from 9.3 per cent to 9.6 per cent across various tenures.
The Fixed Deposits of Bajaj Finserv are rated FAAA by Crisil, offering the highest possible safety for timely payment of interest and principal amount. Investors can get an interest rate of as high as 9.75 per cent on a 15-month tenure under the cumulative scheme.
Gruh Finance is again rated FAAA by CRISIL. The interest rates range from 9 per cent to 9.5 per cent. The company is an HDFC subsidiary and hence deposits cal also be considered as very safe.