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Banks (Finance)

Top NBFCs Offering Best Fixed Deposit Interest Rates in India

Strategic Insights

— 1 min read

Reputable non-banking financial companies (NBFCs) like Bajaj Finance, Muthoot Finance, and LIC Housing Finance offer attractive interest rates on fixed deposits (FDs) to entice investors. Although these companies provide higher interest rates to compensate for the associated credit risk, investors must prioritize safety to avoid defaults and repayment delays. In this context, it is essential to choose FDs from companies that have received high safety ratings from recognized credit rating agencies. Here, we highlight popular NBFCs offering the best fixed deposit interest rates.

Key Takeaways:

  • Bajaj Finance offers interest rates between 7.70% to 8.60% for non-cumulative deposits for senior citizens.
  • Muthoot Finance offers interest rates under Muthoot Cap for non-cumulative deposits with an annual interest plan, ranging from 6.25% to 7.25%.
  • LIC Housing Finance offers interest rates of 7% to 7.75% on deposits up to Rs. 20 crore for non-cumulative deposits.
  • Sundaram Finance offers fixed deposit interest rates between 7.60% to 8.50% for regular citizens and 0.50% higher for senior citizens.
  • ICICI Home Finance offers fixed deposit interest rates between 7.25% to 7.75% for senior citizens in a yearly income plan for non-cumulative deposits.
  • Non-cumulative FDs offer regular income through periodic interest payouts, whereas cumulative FDs yield higher interest returns due to compounding.

Statistics:

  • Bajaj Finance offers 7.70% to 8.60% interest rates for non-cumulative deposits for senior citizens.
  • Muthoot Finance offers 6.25% to 7.25% interest rates for non-cumulative deposits through Muthoot Cap.
  • LIC Housing Finance offers 7% to 7.75% interest rates on deposits up to Rs. 20 crore for non-cumulative deposits.
  • Sundaram Finance offers 7.60% to 8.50% interest rates for regular citizens and 8% to 9% for senior citizens.
  • ICICI Home Finance offers 7.25% to 7.75% interest rates for senior citizens in a yearly income plan for non-cumulative deposits.
  • The minimum investment required for Sundaram Finance FD is Rs. 20,000.

Sources:

  • Bajaj Finance:

* 'Bajaj Finance FD interest rates'

* "Non Cumulative FD"

* "Fixed Deposit"

  • Muthoot Finance:

* 'Muthoot Finance FD interest rates'

* "Muthoot Cap"

* "Non Cumulative Deposit"

  • LIC Housing Finance:

* 'LIC Housing Finance FD interest rates'

* "Non Cumulative Deposit"

* "Fixed Deposit"

  • Sundaram Finance:

* 'Sundaram Finance FD interest rates'

* "Jubilee FD"

* "Fixed Deposit"

  • ICICI Home Finance:

* 'ICICI Home Finance FD interest rates'

* "Non Cumulative Deposit"

* "Fixed Deposit"

  • Axis Bank:

* "Fixed Deposit"

* "Non-Cumulative FD"

* "Cumulative FD"

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