With retail inflation hovering around 8-9 per cent, you need to generate more returns than that, to ensure your real rate of returns are high. We are suggesting 7 fixed deposits that can beat retail inflation and also bank deposits, which are offering an interest rate of around 9 per cent only.
10 per cent interest
At 10 per cent on 36-month cumulative deposit, your returns are pretty decent, as compared to banks. The deposits are safe as they are AAA rated and come with the banking of the cash rich Mahindra group.
9.75 per cent on a 15-month deposit
At 9.75 per cent on a 15-month deposit, the returns are pretty decent from Bajaj Finserv. Again a AAA rated deposits with backing of the Bajaj group makes it a rather secure investment.
A yield of 11.65 per cent
A 36-month cumulative deposit at Shriram Transport can give you a yield of as much as 11.65 per cent. The deposits are FAA rates by CRISIL.
Highest interest rate from a govt backed institution
The KTDFC deposit should be the pick of the lot, since it offers an interest rate of 10.25 per cent on a one, two and three year deposit. The deposits are backed by the government of Kerala and the company is a government owned company.
A solid institution
A 15-month deposit at HDFC, under the Platinum scheme would fetch you 9.5 per cent. The deposits are AAA rated and hence highly secure.
Pretty decent interest rate
Shriram City Union is offering an interest rate of 10.50 per cent on a three year deposit. This should be the highest rate along with KTDFC. The deposits are rated FAA by Crisil.
Not the best interest rate around
PNB Housing Finance is a subsidiary of the government owned Punjab National Bank. The housing finance company offers an interest rate of 9.4 per cent annually. Not the highest when compared to peers.