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Hawkins Cookers Opens Fixed Deposits With 8% Interest. Should You Invest?


Amid the low-interest rate regime of Indian banks, debt investors who want to invest in fixed deposits for a regular flow of income with higher interest rates than that of leading private and public sector banks, Hawkins Cookers Limited started pre-registration for its Fixed Deposit Scheme on 15th September 2021. Hawkins Cookers FD comes with a maturity period of 12 months, 24 months, and 36 months with an interest rate of 7.5 percent, 7.75 percent, and 8 percent, respectively. As of now, the applicable interest rates are undoubtedly pretty good if we compare them with the interest rates of some leading banks such as SBI, HDFC Bank, ICICI Bank, Axis Bank, etc. However, there is a grab when it comes to investing in Hawkins Cookers Fixed Deposit Scheme, which we'll go over in the conclusion of this article.


Hawkins Cookers FD Interest Rates

Hawkins Cookers FD Interest Rates

According to Hawkins Cookers Ltd "Proposed time schedule mentioning the date of opening of the Scheme and the time period for which the circular or advertisement is valid from September 15, 2021, to September 30, 2022, or the date of the Company's 62nd Annual General Meeting, whichever is earlier." The following interest rates will be applicable on minimum deposits of Rs.25,000 and in multiples of Rs.1,000 subject to a maximum of Rs.20,00,000.

Scheme (A) Cumulative (Interest compounded monthly)

PeriodRate of Interest per annumMinimum Deposit (Rs.)Amount payable at Maturity (Rs.)
12 months 7.50% 25,000 26,941
24 months 7.75% 25,000 29,177
36 months 8% 25,000 31,756

Scheme (B) Non-Cumulative (Interest payment Half-Yearly)

PeriodMinimum Deposit (Rs.)Rate of Interest per annum
12 months 25,000 7.50%
24 months 25,000 7.75%
36 months 25,000 8%

Hawkins Cookers FD Ratings & Mode of Interest Payout

Hawkins Cookers FD Ratings & Mode of Interest Payout

ECS/Direct Credit/RTGS/NEFT/Warrant mode will be used for interest payment and repayment. Deposits can be repaid through ECS/Direct Credit/RTGS/NEFT/Cheque, subject to SEBI and RBI restrictions. Hawkins Cookers Ltd has obtained [ICRA] MAA (Stable) rating by the Credit Rating Agency ICRA Limited. The rating was issued on July 21, 2021, and it simply means that the company has excellent credit quality with minimal credit risk. The credit rating of Hawkins Cookers Limited is a quantifiable evaluation of the company's credibility that educates investors about the risk of the company failing on its financial commitments.

It is mandatory for interested investors to pre-register their interest online at from 9:30 am onwards on September 15, 2021, according to the circular of the company. The Fixed Deposit form along with the detailed Terms and Conditions can be downloaded from

Should you invest?

Should you invest?

Amid the current low interest rates on fixed deposits of leading private and public sector banks, small finance banks offer higher interest rates with DICGC insurance benefit on fixed deposits up to Rs 5 lakhs which makes investment in small finance banks risk-free up to the amount covered. However, when it comes to corporate deposits, such as Hawkins Cookers Fixed Deposit Scheme, the only condition on which investors should rely is the credit rating.

Placing a fixed deposit with a positive score is a safe bet, which is why Hawkins Cookers FD Scheme can be a good option for debt investors as the company has obtained MAA (Stable) rating by the Credit Rating Agency ICRA Limited. As a result, investing in Hawkins Cooker FDs may be a better option than investing in a leading bank's fixed deposit scheme like SBI, which offers a low-interest rate of 5,40 percent as of now. However, we advise our readers to briefly look at the applicable terms and conditions, inflation risk, and taxation as per your income tax slab which may lower your post-tax return if you are in the higher tax bracket.

If the interest income received on a corporate FD surpasses Rs. 5000, the TDS rate is 10% for all resident Indian citizens. TDS deduction on FD interest is charged at 20% if PAN details are not submitted, it is one of the main considerations apart from higher rates and credit rating which our readers should keep in mind. Last but not least, it is critical to select Corporate FD with caution and to reduce the risk of default, choose only those certified 'AAA' in terms of rating.

Read more about: fd fixed deposit investment
Story first published: Thursday, September 16, 2021, 17:12 [IST]
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