Interest rates are falling and falling real fast. It is time to start investing in fixed deposits, before interest rates fall even further. Here are few companies which are providing top interest rates in India.
Bajaj Finance Limited
Bajaj Finance Limited a subsidiary of Bajaj Finserv, and a Non-Banking Financial Company(NBFC) which provides good interest rates. To open a fixed deposit the minimum amount is Rs 75,000 and the intrest rate for short term, which is for one or two years is 8 percent where as, for long term such as three, four or five years it is 8.05 percent.
Bajaj finance limited is rated FAAA by CRISIL and MAAA by ICRA.
Dewan Housing Finance Corporation Limited is the third largest Home Loan & Housing Finance Company in India and offers a lot of schemes in its fixed deposits(FD's) including Aashray Deposit Plus, which has a very attractive interest rate for 1 year.
The interest rate is 8.25 for 2 year or 3 year deposit and the interest rate is 8.30 per cent for 3 and 4 years FD.
In this scheme the minimum deposit amount is Rs 20,000 for monthly plan and for quarterly half yearly and yearly the minimum is Rs 10,000.
If you are going for a one year plan then you will get better interest rate in DHFL Aashray Deposit Scheme which is a 13 months plan and the interest rate is 8.35 for it. For this scheme the minimum deposit amount is Rs 50,000.
Both these schemes are rated AAA by CARE and BWR.
LIC Housing Finance Limited.
LIC Housing Finance Limited which we can call LIC HFL is one of the largest Housing Finance companies in India. The company offers a good interest rates on fixed deposits for 12 months 18 months and an interest rate of 7.85 per cent and 24 months plan it is 7.90 per cent and 5 years 7.95 per cent.
The minimum deposit amount is Rs 50,000 and LIC Housing Finance Limited is rated FAAA by CRISIL.
Mahindra and Mahindra Financial Services Limited
Mahindra & Mahindra Financial Services Limited (MMFSL) is one of India's leading Rural Non-Banking Financial Company(NBFC). The fixed deposit can be for a minimum deposit amount of Rs 10,000, whereas the interest rates are 7.90 per cent the for one year scheme and 8.00 for the two year scheme. For the four and five year scheme it is 8.05 per cent. Mahindra and Mahindra Financial Services Limited is rated FAAA by CRISIL.
Shriram City Union Finance Limited
Shriram City Union Finance Limited offers a good interest rates for fixed deposits for 1 year , which is 8.00 per cent. For the 2 year deposit is is 8.10 per cent and for 3 year it is 8.25 per cent per year. The minimum deposit amount is Rs 10,000. Shriram City Union Finance Limited is rated FAA+ by CRISIL and MAA+ by ICRA.