For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Top 10 Corporate FDs With Good Returns Up To 8.35%

|

A corporate fixed deposit (corporate FD) is a term deposit that is kept for a set period of time at a fixed rate of interest. Fixed deposits from different companies can have maturities of up to 5 years. As opposed to the leading commercial, private sector, and small finance banks, these deposits will yield higher interest rates. You must consider some factors before choosing Corporate FD schemes to invest in such as choose higher-rated corporate FDs based on their credit rating which shows the firm's inherent risk, measure a company's business profitability, and pay attention to the company's repayment background, which helps to decide the credit rating, credibility, and reliability of the firm. Before you invest, keep in mind that corporate deposits are not covered by DICGC insurance cover if the company defaults. Corporate FDs, in contrast to bank FDs, are unsecured. Neither deposit protection nor interest payments are guaranteed by these instruments. If a company is in financial straits, an investor's capital may be lost. However, you should and should verify the credit health of the company in question to fix it. Various credit-rating firms, such as CRISIL, ICRA, and CARE, assess the credit quality of these non-banking financial companies (NBFCs). As a result, investing in a high-rated corporate deposit with AAA or similar grade is always a right approach. It denotes the highest level of security in terms of interest and principal payments. So by considering the only catch of credit rating, here we have compiled top 10 corporates which are high rated and will give you decent returns against your deposit.

 

1. Shriram Transport Finance FD

1. Shriram Transport Finance FD

Shriram Transport Finance FD is rated "FAAA/Stable" by CRISIL and "MAA+/with stable outlook" by ICRA." The deposit period varies from 12 to 60 months, and the available annual interest rates on deposits for the general public vary from 7.01 percent to 7.95 percent for the same period. Senior citizens on the other hand are eligible to get an additional rate of 0.40% per annum. These rates are applicable on deposits of below Rs 5 Cr and are in force from 1st April 2021.

Period in monthsRegular FD RatesSenior Citizen FD Rates
12 7.01% 7.41%
15 7.25% 7.65%
24 7.25% 7.65%
30 7.72% 8.12%
36 7.72% 8.12%
45 7.81% 8.21%
48 7.81% 8.21%
60 7.95% 8.35%
Source: Shriram Transport Finance Co. Ltd.

2. Shriram City Union Finance FD
 

2. Shriram City Union Finance FD

Shriram City's term deposit has an ICRA rating of "MAA+/ with Stable Outlook," with investment terms ranging from 12 to 60 months. Shriram City has an interest rate range of 7.01 percent to 7.95 percent, with a 0.40 percent additional rate for senior citizens. These rates are applicable on deposits of less than Rs 5 Cr and are effective from 1st April 2021.

Period in monthsRegular FD RatesSenior Citizen FD Rates
12 7.01% 7.41%
15 7.25% 7.65%
24 7.25% 7.65%
30 7.72% 8.12%
36 7.72% 8.12%
45 7.81% 8.21%
48 7.81% 8.21%
60 7.95% 8.35%
Source: Shriram City Union Finance Co. Ltd.

3. Bajaj Finance FD

3. Bajaj Finance FD

CRISIL's FAAA/Stable Rating and ICRA's MAAA (stable) Rating bring Bajaj Finance fixed deposits the best stability score. Bajaj Finance accepts deposits with terms ranging from 12 to 60 months. Bajaj Finance Fixed Deposits deliver a decent interest rate of up to 7.00 percent, with senior citizens receiving a higher rate of 7.25 percent. These rates are in force from 1 February 2021.

Tenure in monthsRegular FD RatesSenior Citizen FD Rates
12 - 23 5.98% to 6.15% 6.22% to 6.40%
24 - 35 6.41% to 6.60% 6.64% to 6.85%
36 - 60 6.79% to 7.00% 7.02% to 7.25%
Source: Bajaj Finance Ltd.

4. KTDFC Fixed Deposit

4. KTDFC Fixed Deposit

The Government of Kerala completely guarantees KTDFC's fixed deposits along with interest rate. KTDFC FDs have terms ranging from one to five years, with interest rates ranging from 6% to 5.75 percent for the general public and 6.25 percent to 6% for senior citizens. These rates are in force from January 1, 2021.

TenureRegular FD RatesSenior Citizen FD Rates
1 year 6.00% 6.25%
2 years 6.00% 6.25%
3 years 6.00% 6.25%
4 years 5.75% 6.00%
5 years 5.75% 6.00%
Source: Kerala Transport Development Finance Corporation Ltd.

5. PNB Housing Finance FD

5. PNB Housing Finance FD

CRISIL has given PNB Housing's fixed deposits the FAA+/Negative rating and CARE has given it the AA/Stable rating, indicating a sense of capital security. This firm now offers an interest rate ranging from 5.9% to 6.7 percent to the general public, with senior citizens (over 60 years) receiving an additional 0.25 percent rate of interest. This rate change is effective from 28.11.2020.

Tenure in monthsRegular FD RatesSenior Citizen FD Rates
12 - 23 5.90% 6.15%
24 - 35 6.15% 6.40%
36 - 47 6.60% 6.85%
48 - 59 6.60% 6.85%
60 -71 6.70% 6.95%
72 - 84 6.70% 6.95%
120 6.70% 6.95%
Source: PNB Housing Finance Ltd.

6. Sundaram Home Finance FD

6. Sundaram Home Finance FD

Sundaram Home Finance has an ICRA rating of MAAA and a CRISIL rating of FAAA, signaling a high degree of deposit safety. This company's fixed deposit scheme has a term spanning from 12 to 60 months, at an interest rate of 5.75 percent to 6.25 percent. These rates are effective from September 1st, 2020.

Tenure in monthsRegular FD RatesSenior Citizen FD Rates
12 5.75% 6.25%
24 6.00% 6.50%
36 6.25% 6.75%
48 6.25% 6.75%
60 6.25% 6.75%
Source: Sundaram Home Finance

7. Mahindra Finance FD

7. Mahindra Finance FD

Fixed Deposits from Mahindra Finance have a CRISIL FAAA rating, which means you'll get a decent return against your deposit along with an add-on benefit of capital safety. The company is now offering an interest rate of 5.7 percent to 6.45 percent on FDs maturing in 12 months to 60 months, as well as an additional rate of 0.25 percent for senior citizens across all tenors. These rates are in force from 24 August 2020.

Tenure in monthsRegular FD RatesSenior Citizen FD Rates
12 5.70% 5.95%
24 6.20% 6.45%
36 6.30% 6.55%
48 6.45% 6.70%
60 6.45% 6.70%
Source: Mahindra Finance Ltd.

8. ICICI Home Finance FD

8. ICICI Home Finance FD

ICICI HFC provides you with a range of flexible tenure options ranging from 12 to 120 months. CRISIL has rated ICICI HFC Fixed Deposits as FAAA/Stable, ICRA as MAAA/Stable, and CARE as AAA/Stable, making them the best deposit scheme in the category. With effect from April 15, 2021 interest rates of this company are capped between 5.70% to 6.65% and an additional rate of 0.25% is also given to the senior citizens against their deposit.

Tenure in monthsRegular FD RatesSenior Citizen FD Rates
>=12 to <24 5.70% 5.95%
>=24 to <36 5.85% 6.10%
>=36 to <48 6.05% 6.30%
>=48 to <60 6.30% 6.55%
>=60 to <72 6.45% 6.70%
>=72 to <=120 6.65% 6.90%
Source: ICICI Home Finance Ltd.

9. HDFC Ltd Fixed Deposits

9. HDFC Ltd Fixed Deposits

Two major credit rating agencies have given HDFC AAA ratings for its deposit scheme (CRISIL and ICRA). Individuals can select from a variety of deposit products with maturities ranging from 12 to 120 months which will give them attractive interest rates against their deposit. Senior citizens aged 60 and over are eligible for an additional 0.25 percent interest each year. The general public, on the other hand, will receive an interest rate ranging from 5.70 percent to 6.55 percent. These rates are effective from March 30, 2021.

PeriodRegular FD RatesSenior Citizen FD Rates
12-23 Months 5.70% 5.95%
24-35 Months 5.85% 6.10%
36-59 Months 6.05% 6.30%
60-83 Months 6.40% 6.65%
84-120 Months 6.55% 6.80%
Source: HDFC Ltd.

10. LIC Housing Finance FD

10. LIC Housing Finance FD

CRISIL has provided the LIC Housing Finance FD an FAAA/Stable rating. This firm will pay you an interest rate of 5.25 percent to 5.75 percent on cumulative and non-cumulative deposits for 1 to 5 years. Senior citizens, on the other hand, will be paid a 0.25 percent additional rate. From April 1, 2021, the LIC Housing Finance FD interest rate mentioned below are in force.

TermRegular FD RatesSenior Citizen FD Rates
1 YEAR 5.25% 5.50%
18 MONTHS 5.50% 5.75%
2 YEARS 5.65% 5.90%
3 YEARS 5.75% 6.00%
5 YEARS 5.75% 6.00%
Source: LIC Housing Finance Ltd.

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X