Stay up-to-date with the Latest FD Rates from Top NBFCs
Fixed deposits are one of the most secure and popular investment options in India. Investors primarily opt for fixed deposits when looking for assured returns, liquidity and capital protection. In India, banks and Non-Banking Financial Companies (NBFCs) are the preferred options for fixed deposit investments. NBFCs offer a higher interest rate compared to traditional banks, making it a lucrative investment option. However, with a plethora of options available in the market, it is essential to stay updated with the latest FD rates from top NBFCs.
To make the process of finding the best FD interest rates easier, we have curated a list of top NBFCs and their latest interest rates. Please note that the interest rates mentioned in this article are subject to change and the investor must check the latest rates beforehand.
Bajaj Finance – One of the leading NBFCs in India, Bajaj Finance offers highest fd interest rates of up to 6.75% for a tenure of 60 months. The minimum deposit amount is Rs. 25,000, and the interest rates vary based on the tenure of the fixed deposit.
Mahindra Finance – Mahindra Finance is a popular NBFC known for its competitive interest rates. Currently, the interest rate ranges from 5.75% to 6.35% per annum, depending on the tenure of the fixed deposit. The minimum deposit amount is Rs. 5,000.
LIC Housing Finance – LIC Housing Finance offers an interest rate of up to 5.65% for a period of 5 years and up to 5.75% for senior citizens. The minimum deposit amount is Rs. 10,000, and the interest rates vary based on the tenure of the fixed deposit.
HDFC Ltd – HDFC Ltd is a renowned housing finance company that offers fixed deposit schemes with an interest rate ranging from 5.50% to 6.25% per annum. The minimum deposit amount is Rs. 5,000, and the interest rates vary based on the tenure of the fixed deposit.
Shriram City Union Finance – Shriram City Union Finance offers an attractive interest rate of up to 7.25% per annum for a tenure of 60 months. The minimum deposit amount is Rs. 5,000, and senior citizens can avail an additional interest rate of 0.5%.
ICICI Home Finance – ICICI Home Finance is a subsidiary of ICICI Bank, offering fixed deposits with an interest rate ranging from 4.40% to 5.75% per annum. The minimum deposit amount is Rs. 10,000, and the interest rates vary based on the tenure of the fixed deposit.
Tata Capital – Tata Capital offers a range of fixed deposit options, with an interest rate ranging from 4.50% to 6.75% per annum. The minimum deposit amount is Rs. 10,000, and the interest rates vary based on the tenure of the fixed deposit.
All the aforementioned NBFCs offer competitive interest rates, but it is imperative to note that high-interest rates also come with an inherent risk factor. Investing in NBFCs is subject to credit risk, and investors must conduct thorough research before making investment decisions.
In conclusion, fixed deposits offered by NBFCs are a lucrative investment option, providing a higher interest rate than traditional banks. The interest rates from different NBFCs vary based on the tenure and corpus invested, and it is imperative to stay updated with the latest rates before making investment decisions. Investing in any financial instrument comes with risks, and investors must gauge all the pros and cons before investing in the Indian financial market.
Summary:
Fixed deposits offered by top Non-Banking Financial Companies (NBFCs) in India are a lucrative investment option, primarily offering a higher interest rate than traditional banks. NBFCs like Bajaj Finance, Mahindra Finance, and LIC Housing Finance offer an interest rate ranging from 5.65% to 6.75%. However, investing in NBFCs comes with inherent risks, and investors must research appropriately before making investment decisions in the Indian financial market.