3 FDs You Must Invest For High Interest Rates

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Finally, after a four year lull, we are seeing interest rates rising. It is not possible to get decent interest rates and even higher yields, after a long time. Here are a few high quality Fixed Deposits, that offer you high interest rates and yields.

    Mahindra Finance: A high interest rate of 8.75 per cent

    Mahindra Finance offers an interest rate of as high as 8.75 per cent for its online deposits. This rate of interest is applicable on 33 and 40 month deposits. This is the best interest when compared to banks and most NBFCs in the country. The yields on these deposits can be as high as 9.71 per cent, which is very good. Senior citizens are entitled to an extra 0.10 per cent on the FDs.

    3 FDs You Must Invest For High Interest Rates

    Also remember that the deposits are rated AAA, which means there is very little possibility if default on timely payment of interest and principal amount.

    Bajaj Finance FDs 

    Bajaj Finance too has hiked its interest rates recently. The company offers an interest rate of 8.40 per cent on 36-60 months tenure on cumulative deposits. Senior citizens are entitled to an extra 0.35 per cent, which takes the total interest rate to 8.75 per cent for these set of investors.

    Again, rating agencies have rated these deposits as "AAA", which means they are extremely safe. Coming from the Bajaj stable we see very little possibility of a default.

    One can choose from from Cumulative FDs (where interest is payable at the time of maturity) or Non-cumulative FDs (where interest may be payable at monthly, quarterly, half-yearly or annual basis).

    DHFL FDs 

    DHFL too has hiked its interest rates lately. The company is offering an interest rate of 8.50 per cent over 40 to 60 months tenure. There is also a double my money deposits, where money doubles in 103 months. There is also a special deposit for trusts and institutions where the interest rate offered is 7.75 per cent.

    This deposit again is a highly rated AAA rated deposit and is safe, though the interest rates is lower than compared to Mahindra Finance FDs.

    One must remember that fixed deposit interest rates in India are subject to a TDS. For example, these deposits attract a TDS of 10 per cent, if the interest payable is more than Rs 5,000 in a given financial year. In the case of banks, TDS is applicable when the deposits are above Rs 10,000.

    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more