TN Power Finance Fixed Deposits

This is a subsidiary of the Government of Tamil Nadu.

Hence, the deposits can be considered as relatively safe.

A 36, 48 and 60 months TN Power Finance Fixed Deposits fetches an interest rate of 9.25 per cent, which is almost 2 per cent higher than what banks are offering.  Senior citizens on the other hand get an interest rate of 9.75 on tenures mentioned above.  

The interest rates are 8.5 per cent and 8.75 per cent on 12 and 24 months, so it is best to got 36 months and higher deposits.

Bajaj Finance Fixed Deposits

Bajaj Finance Fixed Deposits are AAA rated and have a strong pedigree. A cumulative fixed deposit of 24 and 36 month fetches an interest rate of 8.90 per cent. A 18 and 23 month fixed deposit fetches an interest rate of 8.85 per cent.

Senior citizens are entitled to an extra 0.25 per cent interest rate. The above mentioned deposit interest rates are for cumulative fixed deposits.

DHFL Fixed Deposits

DHFL fixed deposits offer an interest rate of 8.90 per cent on a 40-month deposit. A 14, 24 and 36 month deposit offers an interest rate of 8.75 per cent.

You can get an interest rate of 9.15 per cent, if you invest an amount of above Rs 50 lakh on a 40 month deposit.

The deposits are rated AAA by CARE, which indicates the highest safety for timely payment of interest and principal amount.

KTDFC Fixed Deposits

These deposits are backed by the government of Kerala, since KTDFC is a government of Kerala owned entity.

The interest rates on the 12, 24 and 36 month deposits is 8.50 per cent. Senior citizens are entitled to an interest rate of 8.75 per cent on 12, 24 and 36 months deposit.

A relatively safe deposit with state government backing.

LIC Housing Finance Fixed Deposits

LIC Housing Finance is offering an interest rate of 8.50 per cent on a 60 month deposit. A 2 year deposit comes with an interest rate of 8.35 per cent, whereas a 3 year deposit offers an interest rate of 8.40 per cent.  

This is not the best interest rate when compared to peers, though is much better than bank interest rates.

  Mahindra Finance Fixed Deposits

The fixed deposits of Mahindra Finance come with a AAA rating. The deposits come with an interest rate of 8.45 per cent across all tenures under the cumulative scheme. Senior citizens are entitled to an extra interest rate of 0.25 per cent.

The interest rate is not the best, when compared to other AAA rated deposits mentioned earlier.

  HDFC fixed Deposits

HDFC Fixed Deposits come with a AAA rating. The cumulative option offers investors an interest rate of 8.25 per cent on 12-23 and 24-60 month deposits.

These are for deposits under Rs 5 crores.

Senior citizens are entitled to an interest rate of 0.25 per cent extra, over and above that mentioned above.Again, not very competitive interest rates as compared to a few others.

Shriram Transport Fixed Deposits

Shriram Transport Fixed deposits, offer an interest rate between 7.92 and 8.42 per cent depending on the tenure. The maximum interest rate is on 60 month deposits, while the minimum is on 12 month deposit.

Again, the deposits are highly rated at AAA, but, the interest on 12 month deposit is not very attractive under the cumulative option.