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5 Best NBFC Fixed Deposits For High Returns in India

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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.

5 Best NBFC Fixed Deposits For High Returns
 

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%

5 Best NBFC Fixed Deposits For High Returns
 

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%

5 Best NBFC Fixed Deposits For High Returns

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%
Read more about: nbfc fd non banking fd
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