Fixed deposit or FD, a secure financial instrument, is offered by banks as well as non-banking financial companies (NBFCs). The interest rates offered on company fixed deposits are higher than those on bank fixed deposits. However, while returns on bank FDs are assured, the interest rates on corporate fixed deposits depend on the profits posted by the companies, say financial experts. Non-banking finance companies such as Shriram Transport Finance Company Limited, Bajaj Finserv and Mahindra Finance offer the option of opening a fixed deposit.
Here are the latest interest rates offered by non-banking finance companies on fixed deposits:
Shriram Transport Finance Co.
The following FD interest rates are applicable on non-cumulative deposits according to stfc.in:
| Non-Cumulative Deposits | ||||
|---|---|---|---|---|
| Period (months) | Monthly % (p.a.) | Quarterly % (p.a.) | Half yearly % (p.a.) | Yearly % (p.a.) |
| 12 | 7.95 | 8 | 8.08 | 8.25 |
| 24 | 8.19 | 8.25 | 8.33 | 8.5 |
| 36 | 8.65 | 8.71 | 8.81 | 9 |
| 48 | 8.65 | 8.71 | 8.81 | 9 |
| 60 | 8.88 | 8.95 | 9.05 | 9.25 |
The company also offers an additional interest rate of 0.25 per cent to senior citizens.
Bajaj Finserv
The following FD interest rates are applicable on non-cumulative deposits according to bajajfinserv.in:
| Non-Cumulative Deposits | ||||||
|---|---|---|---|---|---|---|
| Period (months) | Minimum deposit | Monthly % | Quarterly % | Half Yearly % | Annual % | |
| Rs 25,000 | 7.72 | 7.77 | 7.85 | 8.00 | ||
| 24 - 35 | 7.88 | 7.93 | 8.00 | 8.15 | ||
| 36 - 60 | 8.28 | 8.34 | 8.42 | 8.60 | ||
| 15 | Rs 1,00,000 | 7.77 | 7.82 | 7.89 | 8.05 | |
The company also offers an additional interest rate of 0.35 per cent to senior citizens.
Mahindra Finance
The following FD interest rates are applicable on non-cumulative deposits according to mahindrafinance.com:
| Non-Cumulative Deposits | ||
|---|---|---|
| Period (Months) | Yearly % (p.a.) | Monthly % (p.a.) |
| 15 | 8.30 | 7.75 |
| 20 | 8.35 | 8.00 |
| 27 | 8.60 | 8.10 |
| 33 | 9.00 | 8.50 |
| 40 | 9.00 | 8.50 |
| Minimum amount | Rs 50,000 | Rs 50, 000 |
The company also offers an additional interest rate of 0.10 per cent to senior citizens.
In a non-cumulative FD, interest is paid out monthly, quarterly, half-yearly, or annually, according to the investor's choice.
Fixed deposit interest rates are subject to change from time to time. On Monday, SBI revised its FD interest rates across all maturities.
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