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5 Best High Rated Company Fixed Deposits To Invest
Among fixed-return instruments such as bank fixed deposits, small savings schemes, and so on, the company or corporate fixed deposit option provides investors with an alternative investment choice. The company fixed deposits are provided by non-banking financial companies (NBFCs) and provide higher interest rates than bank fixed deposits but are not covered by DICGC which can be a serious concern for risk-averse investors. In general, the term ranges from 6 months to 60 months, with interest payment choices spanning from cumulative to non-cumulative deposits.
Because the majority of NBFCs and HFCs offering fixed deposits having high ratings, such as AAA, it is preferable to invest in them for excellent safety. The initial contribution amount in corporate fixed deposits varies depending on tenure and firm. So if you want to invest in corporate fixed deposits amid falling interest rates of bank FDs, then here are the 5 best high rated company fixed deposits to bet on.
Bajaj Finance FD
With a Bajaj Finance FD, you can earn a high-interest rate ranging from 5.65 per cent to 6.75 per cent on a minimum deposit period ranging from one year to five years. This fixed deposit is rated FAAA (STABLE) by CRISIL and MAAA by ICRA, indicating the deposit's higher safety. Here are the most recent Bajaj Finance Fixed Deposit interest rates, effective from May 12, 2021.
| Tenure in months | Regular FD Rates | Senior Citizen FD Rates |
|---|---|---|
| 12 to 23 | 5.51% to 5.65% | 5.75% to 5.90% |
| 24 to 35 | 5.94% to 6.10% | 6.17% to 6.35% |
| 36 to 60 | 6.31% to 6.50% | 6.55% to 6.75% |
| Source: bajajfinserv.in |
HDFC Limited Fixed Deposit
HDFC Fixed Deposit has got FAAA ratings from CRISIL and ICRA, providing investors with the highest level of deposit security. The deposit has a flexible maturity period ranging from 12 to 120 months. Senior citizens aged 60 and over are eligible for an additional 0.25 per cent p.a. on all deposits. Here are the most recent HDFC Fixed Deposit interest rates for deposits of less than Rs 2 crore, effective from March 30, 2021.
| Tenure | Monthly Income Plan | Quarterly Option | Half-yearly option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
| 12-23 Months | 5.50% | 5.55% | 5.60% | - | 5.70% |
| 24-35 Months | 5.65% | 5.70% | 5.75% | 5.85% | 5.85% |
| 36-59 Months | 5.85% | 5.90% | 5.95% | 6.05% | 6.05% |
| 60-83 Months | 6.20% | 6.25% | 6.30% | 6.40% | 6.40% |
| 84-120 Months | 6.35% | 6.40% | 6.45% | 6.55% | 6.55% |
| Source: hdfc.com |
LIC Housing Finance Ltd. Fixed Deposit
CRISIL has rated LIC Housing Finance Fixed Deposits as FAAA/STABLE. This corporate fixed deposit scheme now offers interest rates ranging from 5.25 per cent to 5.75 per cent. Senior citizens would receive an additional interest rate of 0.25 per cent per annum on deposits of Rs 20,000/- and more, but only up to Rs 20 Crores on all tenors. Here are the latest interest rates of the LIC Housing Finance Fixed Deposit scheme which are in force from 01.04.2021.
| Term | ROI for monthly option | ROI for yearly option |
|---|---|---|
| Non-cumulative deposits | Cumulative deposits & non-cumulative deposits | |
| 1 YEAR | 5.10% | 5.25% |
| 18 MONTHS | 5.35% | 5.50% |
| 2 YEARS | 5.50% | 5.65% |
| 3 YEARS | 5.60% | 5.75% |
| 5 YEARS | 5.60% | 5.75% |
| Source: lichousing.com |
ICICI Home Finance Company Limited (ICICI HFC)
ICICI HFC Fixed Deposits are rated FAAA/Stable by CRISIL, MAAA/Stable by ICRA, and AAA/Stable by CARE, indicating guaranteed safety with the highest credit ratings in the category. Senior citizens and ICICI Group employees can receive 0.25 per cent additional interest. Here are the most recent interest rates of ICICI HFC Fixed Deposits which are in force from April 15, 2021.
| Term in months | Cumulative | Non-cumulative | ||
|---|---|---|---|---|
| Monthly income plan | Quarterly | Yearly | ||
| 12 to less than 24 | 5.70% | 5.55% | 5.60% | 5.70% |
| 24 to less than 36 | 5.85% | 5.70% | 5.75% | 5.85% |
| 36 to less than 48 | 6.05% | 5.90% | 5.95% | 6.05% |
| 48 to less than 60 | 6.30% | 6.10% | 6.15% | 6.30% |
| 60 to less than 72 | 6.45% | 6.25% | 6.30% | 6.45% |
| 72 to less than equal to 120 | 6.65% | 6.45% | 6.50% | 6.65% |
| Source: icicihfc.com |
Mahindra Finance Fixed Deposits
Mahindra Finance Fixed Deposits are rated CRISIL FAAA rating, signifying the best level of security for your deposit. An initial deposit of Rs 5000 is required to start investing in Mahindra Finance Fixed Deposits. Senior folks are also eligible for an additional 0.25 per cent FD interest rate. Here are the latest interest rates of Mahindra Finance Fixed Deposits which are in force from 24 August 2020.
| Term in months | Cumulative option | Non-cumulative option | |||
|---|---|---|---|---|---|
| Monthly | Quarterly | Half-yearly | Annually | ||
| 12 | 5.70% | 5.15 | 5.5 | 5.60% | 5.70% |
| 24 | 6.20% | 5.65 | 6 | 6.10% | 6.20% |
| 36 | 6.30% | 5.75 | 6.1 | 6.20% | 6.30% |
| 48 | 6.45% | 5.9 | 6.25 | 6.35% | 6.45% |
| 60 | 6.45% | 5.9 | 6.25 | 6.35% | 6.45% |
| Source: mahindrafinance.com |
