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There are no banks currently offering interest rates of more then 10% annum, as interest rates are trending lower. With the RBI expected to further cut interest rates, here are a few deposit ideas with interest rates of over 10% per annum and reasonable safety of capital and interest.
4 fixed deposits with high interest rates and good safety
Mahindra Finance is one of the largest non-banking finance companies in the country. Net profits for 2011-12 was Rs 620 Crs. The deposits are rated "FAAA" by CRISIL, indicating the highest level of safety in servicing capital and interest. The company is offering an interest rate of 10.25% for a 3 year deposit giving an yield of around 11.34%. A 0.25% additional interest is offered for Senior Citizens.
4 fixed deposits with high interest rates and good safety
Shriram Transport Finance is the largest Commercial Vehicle Finance company in the country. It's deposits have a "FAA+/stable" rating by CRISIL & "MAA+/stable" by ICRA. A deposit of 3 years attracts an interest of 10.75%, giving an yield of around 11.94%. 0.25% additional interest is being for Senior Citizens.
4 fixed deposits with high interest rates and good safety
Thrirumalai Chemicals has a track record of more than 40 years in manufacturing & sale of various chemical products. The company reported a net profit of Rs 30 Crs for the 9 months period ending December 2012. The company's fixed deposits offer an interest rate of 11 per cent for 2 years.
4 fixed deposits with high interest rates and good safety
Surya Roshni is also a profit making dividend paying company in existence for the last 40 years. The company is offering an interest rate of 12 per cent per annum on a 3 year deposit.
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