Best AAA Rated Corporate Fixed Deposits With High Interest Rates; From Bajaj, Mahindra, To Shriram

Fixed deposits (FDs) are the most traditional saving schemes offered by banks across the country. The interest rates vary from bank to bank. Just like banks, RBI has also allowed NBFCs to offer these FDs with attractive and competitive interest rates. Some of the NBFCs' FD rates are rated AAA/Stable by rating agencies like CRISIL and India Ratings.

According to ICICI Direct's website, in these times of high market volatility and uncertain returns, Corporate FDs help you secure your future financially with fixed, predictable returns. Investors can choose to earn a regular income with a pay-out option or accumulate capital through a cumulative option.

The brokerage highlighted six reasons why corporate FDs are attractive to invest. These are:

- Get Fixed, Predictable Returns

- Ideal for Regular Income or Accumulating Capital

- High interest rates. 0.25% extra for Senior Citizens

- Invest with AAA-rated corporates which offer High Safety & Low Risk

- Flexible Investment Tenure and Interest Payment Frequency

- Independent of Market Volatility

Here is a list of six attractive corporate FDs with AAA ratings.

Bajaj Finance:

The minimum deposit amount at the largest NBFC in India in terms of market share is Rs 15,000. The NBFC is offering from 7.45% to 8.35% interest rates on tenures from 15 months to 44 months under its special period. While the rates are from 7.40% to 8.05% in the regular period.

Senior citizens however are the biggest beneficiary with interest offered higher by 0.25% than normal rates to them.

Mahindra Finance:

The minimum FD amount here is Rs 5,000. An investor can earn between 7.75% to 8.05% from tenures of 15 months to 42 months. Senior Citizens will get an additional interest rate of 0.25% p.a for Samruddhi Deposits and a 0.10% p.a. additional rate for Dhanvruddhi Deposits up to 5 crore only.

Shriram Finance:

This NBFC offers interest rates from 7.80% to 8.60% on tenures from 12 months to 60 months. However, an additional interest rate of 0.50% is paid to senior citizens. It offers an additional rate of 0.25% on renewals of the FDs and an additional 0.10% rate to women depositors.

ICICI Housing Finance:

This HFC is offering from 7.25% to 7.60% on tenures from 12 months to 120 months. 0.25% additional interest for senior citizens and ICICI Group employees. Also, in case of a cumulative deposit, interest is compounded before deduction of Tax.

LIC Housing Finance:

LIC HF is offering 7.25% to 7.75% on its tenures from 1 year to 5 years. Tenure is available for 1 Year, 18 Months, 2 Years, 3 Years and 5 Years under Cumulative Public Deposit Scheme. Attractive card rate for deposit amounts up to Rs 20 Crore and above Rs 20 Crore for all tenure. Interest will be compounded annually and paid on maturity along with the Principal Amount after deducting the tax wherever applicable.

PNB Housing Finance:

PNB HF is offering interest rates from 7% to as high as 7.85% on tenures from 12 months to 120 months. Senior citizens (above 60 years) will be eligible for 0.30% additional Rate of Interest.

Disclaimer: The recommendations made above are by market analysts and are not advised by either the author nor Greynium Information Technologies. The author, nor the brokerage firm nor Greynium would be liable for any losses caused as a result of decisions based on this write-up. Goodreturns.in advises users to consult with certified experts before making any investment decision.