Interest rates have moved lower in the last few quarters, with investors finding it very difficult to get even 8-9 per cent returns. Here are a list of 7 deposits that investors could consider investing in the month of July.
A 40-month deposit at DHFL, would give you an interest rate of 8.90 per cent and probably this is the best that it can get. The deposits are AAA rated and hence very safe.
If you have amounts in excess of Rs 50 lakhs, you could get an interest rate of as much as 9.15 per cent. Not bad at all.
RBL Bank Fixed Deposits
A 24-month deposit at RBL Bank gives you an interest rate of 8.77 per cent, with the yield going up to 9.11 per cent.
This is pretty decent from a bank point of view. On the other tenures the interest rates are pretty low.
On a 18-60 months deposit Bajaj Finserv offers an interest rate of 8.65 per cent.
Senior citizens are offered an additional 0.25 per cent. The deposits are AAA rated and very safe.
KTDFC Fixed Deposit
These deposits are very safe as they are guaranteed by the government of Kerala. The interest on these deposits is 8.50 per cent and for senior citizens the same is 8.75 per cent.
The yields can go up to 10 per cent on a 5-year deposit.
Shriram Transport Finance
Shriram Transport Finance offers an interest rate of 8.75 per cent on a 4 and 5 year deposit. It is important to remember that company fixed deposits are not safe.
So, make sure that you invest in safe and highly rated companies. The company has a AAA rating for its deposits.
Mahindra Finance offers an interest rate of 8.45 per cent across all tenures. The deposits are highly rated with a AAA rating.
It is relatively safe, considering that it comes from the Mahindra group.
LIC Housing Finance
LIC Housing Finance offers an interest rate of 8.40 per cent on a 4-year deposit.
Not bad in a falling interest rate regime. Remember that company deposits would attract a TDS, if the interest amount is over Rs 5000.