Mahindra Finance fixed deposit (FD) interest rates start from a whopping 7.95%
As the fixed deposit (FD) interest rates offered by large public sector banks (PSBs) such as the State Bank of India (SBI) stay stunted at 6.65 per cent on its one-year FD, the depositors can explore a viable alternative of opening fixed deposits (FDs) with the NBFCs (non-banking financial companies) that pay significantly higher interest rates, which are atleast 100 basis points higher than the SBI's FD rates. For instance, Diwan Housing Finance Ltd (DHFL) offers a rate of interest, which jumps to as high as 8.5 per cent when the deposit is made for 60 months. A one-year deposit fetches an interest rate of 7.7 per cent, which rises to 7.9 per cent and further to 8 per cent in case of 24 month deposits.
Diwan Housing Finance Fixed Deposit (FD) Rates
| Tenure | Minimum deposit | Cumulative Interest rate |
|---|
| 12 | 2000 | 7.70% |
| 14 | 10000 | 7.90% |
| 24 | 2000 | 8% |
| 36 | 2000 | 8.45% |
| 40 | 2000 | 8.50% |
| 48 | 2000 | 8.50% |
| 60 | 2000 | 8.50% |
Mahindra Finance Fixed Deposit (FD) Interest Rates| Minimum Amount (Rs) | Tenure | Amount | Interest |
|---|
| Rs.5,000† | 15 | 5505 | 7.95% |
| 20 | 5688 | 8% |
| 27 | 6011 | 8.50% |
| 33 | 6301 | 8.75% |
| 40 | 6619 | 8.75% |
| Additional rate for senior citizens is 0.10% |
| Additional amount will be accepted in multiples of Rs. 1,000/- |
KTDFC Fixed Deposit (FD) Interest Rates| Period | Rate(p/a) |
|---|
| 1 year | 8.25% |
| 2 years | 8.25% |
| 3 years | 8.25% |
| 4 years | 8% |
| 5 years | 8% |
Bajaj Finserv Fixed Deposit (FD) Interest Rates| Tenor | Minimum deposit | Rate of interest |
|---|
| 12-23 months | 25,000 | 7.60% |
| 24-35 months | 25,000 | 8.15% |
| 36-60 months | 25,000 | 8.40% |
| 0.35% extra for senior citizen |
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