Apart from banks, many finance houses and Non-Banking Financial Companies (NBFCs) also offer investors the facility to open fixed deposits. NBFCs and several finance houses offer Fixed Deposits (FDs) at attractive interest rates, sometime more than regular banks.
A company FD or company term deposit is nothing but a type of FD that is issued by companies such as finance companies, housing finance firms or other types of NBFCs. Company fixed deposits are a great way to raise funds from the general public for many firms/companies. These time deposits are usually rated for their credibility by a number of rating agencies such as ICRA, CARE, CRISIL, etc.
|Company||Regular FD Rates||Senior Citizen FD Rates|
|Kerala Transport Development Finance Corporation Limited||5.75% - 6.00%||6.00% - 6.25%|
|Mahindra Finance||5.70% - 6.45%||5.95% - 6.70%|
|LIC HFL||5.10% - 5.60%||5.35% - 5.85%|
|Gruh Finance Limited||3.00% - 5.75%||3.75% - 6.50%|
|ICICI Home Finance||5.70% - 6.65%||5.95% - 6.90%|
|Shriram City||7.25% - 8.25%||7.65% - 8.65%|
|Who can apply?||
The important things that you need to know about the fixed deposit interest rates offered by non-banking finance companies are:
In terms of differences, both are FD accounts and offer the same features. Bank FDs are generally regarded more safer and pay lesser interest rate.
Yes. The deposit can be broken before the maturity period but some NBFCs mandate a longer minimum investment period that may go upto 6 months to a year.
You can apply for a company FD online or by contacting the firm where you want make an investment.
Receipts may be issued to those who have applied for an FD offline/by visiting the branch.
Yes, in most cases.
Interest payments will be credited to the bank account of the customer electronically as per the chosen frequency of interest payment.
In most cases, yes.
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