PNB vs HDFC vs LIC vs Bajaj vs Mahindra FDs: Check fixed deposit rates of these companies FDs
With RBI's monetary policy announcement, bank interest rates have come down below the 7 per cent mark. The State Bank of India (SBI) has also reduced interest rates on Fixed Deposits (FDs), extending a maximum of 6.4 per cent.
With RBI's monetary policy announcement, bank interest rates have come down below the 7 per cent mark. The State Bank of India (SBI) has also reduced interest rates on Fixed Deposits (FDs), extending a maximum of 6.4 per cent. The way interest rates have fallen, you need to search for new options to invest your hard earned money. Among the available options, company FDs can be one such investment tool, but a comparative study is needed prior to going ahead. It should be ensured that they belong to AAA category ratings as these firms offer better interest rates. Here are few such AAA rated companies offering better interest rates are given here.
1. PNB Housing Finance belongs to AAA rated category, as it offers an interest rate of over 8 per cent on its 5-year deposits. The housing finance company's 1-year tenure deposit gives the interest rate of 8.10 per cent and on two-year deposit, you can earn the interest of 8.15 per cent.
2. HDFC Ltd is also AAA rated company offering an interest rate of 7.62 per cent across tenures. If you go for 1, 2, 3, 4 and 5 year deposit, you will be able to earn an interest of 7.62 per cent. It comparatively offers the lowest interest rates among all the deposits of NBFCs and Housing Finance companies, but deposits are considered safe.
3. Mahindra and Mahindra Financial Services offers an interest rate of 8.40 per cent on 3, 4 and 5 year tenure investment. Since the deposits are rated in AAA category, you can look for this option. The Financial Services company is stated to offer both a cumulative and a non-cumulative deposit scheme.
4. Bajaj Finance is another AAA rated finance company that offers 8 per cent interest rate on its 1-year tenure deposit, 2-year tenure offers an interest rate of 8.05 per cent, while the 3-year tenure offers 8.35 per cent interest rate. Bajaj Finance fixed deposits are also reported to be well rated, as they come from a very strong promoter background.
Watch Zee Business Live TV
5. LIC Housing Finance is also AAA rated FD, offering an interest rate of 7.95 per cent on its 3 and 5 year deposits. If you want to invest your money for 2 years, you will get an interest rate of 7.90 per cent. Here you can see that the interest rates on deposits are comparatively more than the BSI offers. Notably, NRIs can also invest in the company with a maximum tenure of 3-years.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
04:13 PM IST