While most investors are skeptical of investing in NBFC deposits, we have chosen highly rated AAA deposits or deposits that are guaranteed by the state government. Reserve Bank of India (RBI) increasing the repo rate by 2 of its three last fiscal policy reviews by 25 basis points(bps), the benchmark repo has risen by 50 bps since the fiscal cycle turned out to be a success. Many banks have thus increased their deposit rates. Here are 5 such FDs, which offer higher returns when compared to commercial banks in the country.
Bajaj Finance
Invest in a fixed deposit to maximize the investment, with good stability and security of the principal amount. Bajaj Finance Fixed Deposit delivers up to 8.35% competitive FD interest rates so that your deposits can be quickly amplified. Bajaj Finance is one of the top options to invest in FDs if you are looking for the highest interest rates. Bajaj Finance FD gives one of India's best FD rates, amounting to 8.10% for new investors, up to 8.20% for existing BFL customers and up to 8.35% for senior citizens. Bajaj Finance is AAA rated which means that your principal amount is not at risk. It's important to remember that there will be a TDS of 10% if the interest amount exceeds Rs 5,000 during the fiscal year. Below given is the interest rate per annum for deposit up to Rs 5 Cr.
Non Cumulative
Tenure
Min Deposit
Cumulative
Monthly
Quarterly
Half Yearly
Annually
12-23 months
Rs 25000
7.60%
7.35%
7.39%
7.46%
7.60%
24-35 months
Rs 25000
7.90%
7.63%
7.68%
7.75%
7.90%
36-60 months
Rs 25000
8.10%
7.81%
7.87%
7.94%
8.10%
Mahindra Finance
As we know fixed deposits have become the most preferred banking method for preparing a financially trouble-free future for the household. For which Mahindra Finance's Fixed Deposit scheme was specifically designed with this low-risk investment to ensure guaranteed returns at highly competitive FD interest rates. Mahindra Finance has ' FAAA ' Crisil rating which indicates a high safety factor. Senior Citizens can get 0.25% additional interest rate for Samruddhi & DhanSamruddhi Deposits. M & M group company Employee, Employees relatives', M& M group company Retired Employees & Retired Employees Relatives can get a 0.35% additional interest rates. Investors must keep on mind that there will be a TDS of 10% if the interest amount exceeds Rs 5,000 during the financial year.
For General Investors
Non Cumulative (Interest Rate)
Tenure in months
Interest Per Annum
Amount Deposited
Amount Payable
Yearly
Monthly
15
7.75%
Rs 5000
5492
7.75%
7.25%
20
7.75%
Rs 5000
5666
7.75%
7.25%
27
8.05%
Rs 5000
5954
8.05%
7.55%
33
8.35%
Rs 5000
6238
8.35%
7.85%
40
8.35%
Rs 5000
6537
8.35%
7.85%
For Senior Citizens
Non Cumulative (Interest Rate)
Amount Deposited
Tenure
Amount Payable
Interest Per Annum
Yearly
Monthly
Rs 5000
15
5499
7.85%
7.85%
7.35%
Rs 5000
20
5675
7.85%
7.85%
7.35%
Rs 5000
27
5967
8.15%
8.15%
7.65%
Rs 5000
33
6254
8.45%
8.45%
7.95%
Rs 5000
40
6558
8.45%
8.45%
7.95%
Shriram Transport
Shriram Transport Finance Company FD rated CRISIL's "FAA / Stable" and ICRA's "MAA+/ Stable Outlook" offers high interest rates with guaranteed safety of your principal amount. Shriram Transport Finance Company Ltd. (STFC) is a prominent provider of commercial vehicle finance. It is a Non-Banking Financial Company (NBFC) that serves services like Fixed Deposits (FDs), RD, STFC at competitive interest rates. Below given is the interest rates on fresh deposits/renewals. Shriram Transport charge a TDS of 10% if the interest amount exceeds Rs 5,000 p.a
Non Cumulative
Cumulative
Tenure
Monthly % p.a
Quarterly % p.a
Half yealry % p.a
Yearly % p.a
Monthly % p.a
Effective yield % p.a
Maturity value for deposit of Rs 5000
12
7.53
7.58
7.65
7.80
7.53
7.80
5390
24
7.72
7.77
7.85
8.00
7.72
8.32
5832
36
8.28
8.34
8.42
8.60
8.28
9.36
6404
48
8.37
8.43
8.52
8.70
8.37
9.90
6980
60
8.42
8.48
8.57
8.75
8.42
10.42
7605
KTDFC
Kerala Transport Development Finance Corporation Limited (KTDFC) is a Non Banking Financial Company wholly owned by the Kerala Government with a valid registration certificate issued by Reserve Bank of India pursuant to section 45-IA of the RBI Act, 1934. The deposits are insured by the Kerala government, which promises 100 per cent protection and additional profits. The Government of Kerala assured repayment deposits up to Rs 4500 cr with attractive interest rates. If the interest rates exceed Rs 5000 then the investor has to submit Form 15G/15H. Check the interest rates on FDs of KTDFC
For General Investors
Period
Rate p.a
Approx maturity value for Rs 10,000
Approx Cumulative
1 year
7.50%
10776
7.76%
2 year
7.50%
11613
8.06%
3 year
7.50%
12514
8.38%
4 year
7.25%
13353
8.38%
5 year
7.25%
14354
8.71%
For Senior Citizens
Period
Rate p.a
Approx maturity value for Rs 10,000
Approx Cumulative
1 year
7.75%
10803
8.03%
2 year
7.75%
11671
8.35%
3 year
7.75%
12608
8.69%
4 year
7.50%
13486
8.71%
5 year
7.50%
14533
9.07%
PNB Housing Finance Limited
PNB HFL provides a wide range of FD options with high interest rates. The PNB HFL is rated as 'CARE AAA' and FAAA/Stable by CARE and CRISIL, which means you can securely invest your money without any risk. There is a compulsory lock-in for 3 months, after which the fixed deposit can be withdrawn. However, the interest rate charged would be lower than the initial agreed about FD interest rate. PNB HFL has a mandatory 3-month lock-in period, after which you can withdraw the fixed deposit. Applicable interest rates are listed below for regular deposit up to Rs 5 Cr
Tenure in months
Cumulative Interest Rate p.a
Yield to maturity
12-23
8.00%
8.00%
24-35
8.00%
8.32%
36-47
8.10%
8.77%
48-59
8.10%
9.14%
60-71
8.15%
9.59%
72-84
8.15%
10.00%
120
8.00%
11.59%
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