Top 5 NFBCs offer higher interest rates on their fixed deposits; check list here

1 week ago 6

2 min read 06 May 2024, 09:06 AM IST

Bajaj Finserv offers higher involvement rates connected peculiar periods i.e., 18, 22, 33 and 44 months. The involvement rates scope betwixt 7.40 percent to 8.25 percent per annum crossed durations.

Non-banking fiscal corporations (NFBCs) connection higher involvement rates successful examination to banks

When you are assertive successful your risk appetite, you whitethorn privation to gain a higher income astatine a somewhat higher risk. Besides opening a fixed deposit (FD) with a bank, you whitethorn see opening an relationship with a non-banking fiscal corp (NBFC) arsenic good which typically connection a higher involvement complaint connected their fixed deposits but are somewhat riskier vis-a-vis banks. Here we database retired NFBCs offering higher involvement rates

Bajaj Finserv: This NBFC offers higher involvement rates connected peculiar periods i.e., 18, 22, 33 and 44 months. The involvement rates scope betwixt 7.40 percent to 8.25 percent per annum crossed durations.

ALSO READ: Bank of Baroda raises lending complaint by 5 bps starting today. Details here

On an 18-month FD, the involvement complaint is 7.8 percent. On 22-month FD, the involvement complaint is 7.9 percent. The involvement complaint rises to 8.10 percent connected 33-month FD and the maximum involvement of 8.25 percent is offered connected 44-month FD.

Months	Interest (%)
18	7.80
22	7.90
33	8.10
44	8.25

(The supra array refers to peculiar play FDs)

Months	Interest (%)
12-14	7.40
15-23	7.50
24-35	7.80
36-60	8.10

(Source: bajajfinserv.in; Regular period)

Muthoot Capital: It offers involvement successful the scope of 7.45 to 8.5 percent per annum. For 1 year, the NBFC offers 7.45 percent involvement rate, for 15 months, the involvement complaint rises to 8.5 percent, for 2 years the complaint is 8 percent and for 3 years it is 8.5 percent and for 5 years, it is7.5 percent.

Tenure	Interest (%)
1	7.45
2	8
3	8.5
5	7.5

(Source: muthootcap.com)

Shriram Finance: It offers involvement successful the scope of 7.85 to 8.8 percent per annum. On one-year FD, the NFBC offers 7.85 percent. On two-year FD, the complaint of involvement is 8.15 percent and connected 3-year FD, it is 8.70 percent. The maximum involvement of 8.80 percent is offered connected a five-year fixed deposit.

Tenure	Interest (%)
1	7.85
2	8.15
3	8.70
5	8.80

(Source: shriramfinance.in)

Mahindra Finance: It offers involvement successful the scope of 7.75 to 8.05 percent. For 15 period tenure, the involvement complaint is 7.75 percent, for 30 months, the complaint of involvement is 7.9 percent and for 42 months, the complaint of involvement is 8.05 percent.

Tenure	Interest (%)
15	7.75
30	7.9
42	8.05

(mahindrafinance.com)

ICICI Home Finance: This NBFC offers involvement complaint successful the scope of 7.25 to 7.65 percent. On a fixed deposit of tenure betwixt 12 to 24 months, the involvement complaint is 7.25 percent. It rises to 7.55 percent connected a tenure betwixt 24 to 36 months.

ALSO READ: These NBFCs connection FD involvement rates upto 8.8 per cent. Check latest rates here

Months	Interest (%)
12-24	7.25
24-36	7.55
36-60	7.65
60-72	7.60
72-120	7.50

(icicihfc.com; non-cumulative deposits)

When the tenure is betwixt 36 to 60 months, the involvement complaint is 7.65 percent. The involvement past falls erstwhile the tenure rises beyond 60 months. On a FD with a tenure betwixt 72-120 months, the involvement complaint is 7.50 percent.

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Published: 06 May 2024, 09:06 AM IST