Latest FD Rates from Top NBFCs
Many non-banking financial companies in India offer fixed deposit rates, including Bajaj Finserv, Mahindra Finance, ICICI Home Finance, HDFC Ltd, and LIC Housing Finance. This article overviews the latest fixed deposit rates offered by these NBFCs in India. Regarding the best FD interest rates, these NBFCs offer flexible tenures on their best short term investments ranging from 12 to 120 months, depending on the type of depositor and the tenure. An additional 0.25% interest rate is available for fixed deposits held by senior citizens. Since the government does not back NBFCs like banks, investors should know the risks involved.
India’s fixed deposit (FD) market is considered among the safest in the world. Investors seeking attractive fixed deposit rates with higher returns increasingly turn to non-banking financial companies (NBFCs). Fixed deposits held by NBFCs typically yield the best FD interest rates than those held by banks. In this article, several major NBFCs in India, including Bajaj Finserv, offer the latest fixed deposit rates.
Bajaj Finserv
One of the leading NBFCs in India, Bajaj Finserv, offers attractive interest rates on fixed deposit schemes. Bajaj Finserv fixed deposits have an interest rate ranging from 5.50% to 6.60% per annum, depending on the tenure and type of depositor. Senior citizens are eligible for an additional 0.25% interest rate on fixed deposits. There are flexible tenures available from 12 to 60 months with Bajaj Finserv, so investors can choose the term that best suits their financial goals.
ICICI Home Finance
Another NBFC that offers fixed deposits with attractive interest rates is ICICI Home Finance. ICICI Home Finance offers fixed deposits with the best FD interest rates ranging from 4.00% to 6.85% based on tenure and depositor type. A senior citizen’s fixed deposit earns an additional 0.25% interest rate. Flexible tenures of 12 to 120 months are available through ICICI Home Finance, allowing investors to choose the right term.
HDFC Ltd
Another leading NBFC in India that offers fixed deposit schemes with attractive interest rates is HDFC Ltd. Depending on the type of depositor and the deposit tenure, HDFC Ltd fixed deposits offer interest rates ranging from 4.90% to 6.25% per year. The interest rate on fixed deposits for senior citizens has increased by 0.25%. A flexible tenure of 12 to 120 months is available from HDFC Ltd, allowing investors to choose a term that suits their financial goals.
LIC Housing Finance
LIC Housing Finance offers fixed deposits with attractive interest rates, another NBFC in India. According to the tenure and type of depositor, LIC Housing Finance fixed deposits offer interest rates ranging from 5.00% to 6.50% per annum. Fixed deposits held by senior citizens earn an additional 0.25% interest rate. LIC Housing Finance offers a range of tenures, allowing investors to choose a term that meets their financial needs.
Mahindra Finance
Mahindra Finance is another popular NBFC in India that offers fixed deposit schemes. Mahindra Finance offers fixed deposit rates ranging from 5.75% to 6.85% per annum, depending on the depositor type and tenure. Seniors can earn an additional 0.25% interest rate on their fixed deposits. With a term range of 15 to 40 months, Mahindra Finance provides investors with the flexibility to choose a term that best suits their needs and the best short term investments.
Tata Capital
Tata Capital is one of the renowned NBFCs that offers FDs to individuals, with tenures ranging from one to ten years. The rates of interest on these FD policies start at 5.50% for a tenure of one year and extend to 6.25% for textures ranging from five to ten years.
Muthoot Finance
Muthoot Finance currently provides FDs with tenures varying from 12 to 60 months, where the interest rates start at 5.50% for a tenure of 12 to 23 months. For a tenure of 48 to 60 months, the rates are 6.50%.
L&T Finance
L&T Finance is a subsidiary of L&T Finance Holdings, and their FDs also range from 1 to ten years. The rates here vary between 5.25% to 5.80% for one to five, respectively.
Shriram City Union Finance
The company provides FDs with tenures varying from one to five years. You get a 5.00% rate on one year tenure and 6.00% for 4 to 5 years.
Apart from the NBFCs that we have mentioned here, many more in India offer attractive interest rates on fixed deposits. Bajaj Finserv can offer you help associated with investment risks, fixed deposit choices based on your interests, and more.
