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Top 5 Corporate Fixed Deposits Rated ‘AAA’ By ICRA & CRISIL
In the current low-interest-rate regime of banks and the stock market is soaring at a record high, investors especially having risk-averse attitudes are searching for peaceful investment. As most of the financial advisors are suggesting to move from equity to debt category, but for a fresh investor or especially senior citizens this suggestion is not worthy and safe too. For them investing in small savings schemes or fixed deposits are the secure nest. Investing in small saving schemes can be a good bet only if you invest for the long term, whereas investing in fixed deposits is the ideal option for all types of financial goals no matter if it is short-term or long-term. Talking about investing in fixed deposits, small finance banks as of now are promising better interest rates than leading private and commercial banks. But what if you get an interest rate up to 8.25% on your fixed deposit?
Corporate fixed deposits are the bet where you can get better interest rates than even small finance banks. These are the deposits that are rated by the agencies like CRISIL and ICRA but are not insured by DICGC. So by keeping your risk factor in mind, here we have chosen the top 5 corporate fixed deposits for you which are offering the best returns in the market and are rated 'AAA' rated by the leading agencies ensuring the credit quality and safety of your deposit.
Shriram Transport Finance Fixed Deposit
CRISIL graded Shriram Transport Finance Company Fixed Deposit "FAAA/Stable" and ICRA classified it "MAA+/with Stable Outlook," indicating deposit security and credit strength. This corporation's fixed deposit interest rates, which are as follows, are in effect for retail deposits less than Rs 5 crore as of April 1, 2021. Note: Additional interest rates of 0.40% p.a. will be paid to senior citizens on their deposits.
| Period in months | Monthly % p.a. | Quarterly % p.a. | Half-yearly % p.a. | Yearly % p.a. |
|---|---|---|---|---|
| 12 | 7.01 | 7.06 | 7.12 | 7.25 |
| 15 | 7.25 | 7.3 | 7.37 | 7.5 |
| 24 | 7.25 | 7.3 | 7.37 | 7.5 |
| 30 | 7.72 | 7.77 | 7.85 | 8 |
| 36 | 7.72 | 7.77 | 7.85 | 8 |
| 45 | 7.81 | 7.87 | 7.94 | 8.1 |
| 48 | 7.81 | 7.87 | 7.94 | 8.1 |
| 60 | 7.95 | 8.01 | 8.09 | 8.25 |
| Source: Shriram Transport Finance Ltd. |
Muthoot Capital Ltd.
CRISIL has granted the firm a score of 'CRISIL A/Stable,' which indicates the extent of stability in terms of deposit safety and interest payout. Here are Muthoot Finance's most current fixed deposit interest rates, which include a 0.25 percent additional interest rate for elderly citizens.
| Period | Monthly Income Scheme | Annual Scheme | Maturity Plan |
|---|---|---|---|
| 1 year | 7.50% | 7.75% | 7.75% |
| 2 year | 7.50% | 7.75% | 7.75% |
| 3 year | 7.50% | 7.75% | 7.75% |
| 4 year | 7.75% | 8.00% | 8.00% |
| 5 year | 7.75% | 8.00% | 8.00% |
| Source: Muthoot Capital Services Ltd. |
Housing and Urban Development Corporation Ltd (HUDCO)
The credit rating of the HUDCO public deposit plan is 'IND tAAA/Stable' by India Ratings and Research (IndRa), 'CARE AAA (FD) ;Stable' by CARE, and "MAAA (Stable)" by ICRA. In each rate slab, HUDCO fixed deposits give Senior Citizens an additional 0.25 percent interest rate. Here are HUDCO's most recent fixed deposit rates, effective as of July 10, 2018.
| Period in months | Cumulative | Non- Cumulative Scheme | ||
|---|---|---|---|---|
| Quarterly | Half-yearly | Yearly | ||
| 12 | 7.5 | 7.3 | 7.35 | 7.5 |
| 24 | 7.5 | 7.3 | 7.35 | 7.5 |
| 36 | 7.5 | 7.3 | 7.35 | 7.5 |
| 48 | 7.25 | 7.05 | 7.1 | 7.25 |
| 60 | 7.25 | 7.05 | 7.1 | 7.25 |
| Source: HUDCO |
Bajaj Finserv Ltd.
CRISIL's FAAA/Stable and ICRA's MAAA/stable ratings have been given to Bajaj Finance Fixed Deposit. Bajaj Finance is currently providing non-senior citizens interest rates as high as 6.50 percent, and senior citizens receiving an additional 0.25 percent rate benefit. Here are the most recent Bajaj Finance FD rates, which are effective as of May 12, 2021.
| Tenure in Months | Non senior citizens | Senior Citizens |
|---|---|---|
| 12-23 | 5.51% - 5.65% | 5.75% - 5.90% |
| 24-35 | 5.94% - 6.10% | 6.17% - 6.35% |
| 36-60 | 6.31% - 6.50% | 6.55% - 6.75% |
| Source: Bajaj Finance Ltd. |
PNB Housing Finance Ltd.
CRISIL has granted PNB Housing's fixed deposits the FAA+/Negative rating and CARE has assigned it the AA/Stable rating. For elderly folks, PNB Housing provides a 0.25 percent higher FD interest rate. PNB Housing Finance Ltd.'s most current fixed deposit rates, effective November 28, 2020, are listed below.
| Tenure in months | Cumulative | Non- Cumulative Option | |||
|---|---|---|---|---|---|
| Monthly | Quarterly | Half-yearly | Yearly | ||
| 12 - 23 | 5.90% | 5.74% | 5.77% | 5.81% | 5.90% |
| 24 - 35 | 6.15% | 5.98% | 6.01% | 6.05% | 6.15% |
| 36 - 47 | 6.60% | 6.40% | 6.44% | 6.49% | 6.60% |
| 48 - 59 | 6.60% | 6.40% | 6.44% | 6.49% | 6.60% |
| 60 -71 | 6.70% | 6.50% | 6.53% | 6.59% | 6.70% |
| 72 - 84 | 6.70% | 6.50% | 6.53% | 6.59% | 6.70% |
| 120 | 6.70% | 6.50% | 6.53% | 6.59% | 6.70% |
| Source: https://www.pnbhousing.com/ |
