Company Fixed Deposits (CFDs) are Term Deposits offered by companies viz. manufacturing firms and housing finance ventures. They usually offer a higher interest rate as compared to banks and Non-Banking Financial Companies (NBFCs). This variant of Term Deposits is regulated by Section 58 A of the Companies Act, 2013.
|Top 10 Company FD rates|
|Company||CRISIL/ICRA Rating||Maximum FD rate (per annum)|
|ICICI Home Finance Ltd FD||CRISIL FAAA||5.70% p.a. - 6.65% p.a.|
|Mahindra Finance Ltd FD||CRISIL FAAA||5.70% p.a. - 6.45% p.a.|
|Shriram Transport Finance Ltd FD||ICRA MAA+||7.51% p.a. - 8.26% p.a.|
|PNB Housing Finance Ltd FD||CRISIL FAAA||5.90% p.a. - 6.70% p.a.|
|LIC Housing Finance Ltd FD||CRISIL FAAA||5.25% p.a. - 5.75% p.a.|
|HDFC LTD FD||ICRA MAAA||Up to 6.55%|
|Housing and Urban Development Corporation (HUDCO) FD||ICRA AAA||7.25% p.a. - 7.50%p.a.|
|Sundaram Finance Company FD||CRISIL FAAA||5.72% p.a. - 6.22% p.a.|
|Muthoot Capital FD||CRISIL FAAA||7.75% p.a. - 8.00% p.a.|
*The interest rates mentioned here tend to vary at the respective company’s discretion. The rates mentioned here are for cumulative deposits as of May 2021.
Read more about: Top Bank FDs in India
CRISIL, ICRA and CARE are globally-recognized rating agencies. These help you assess the credibility of a firm or institution before making an investment or applying for a loan.
|FAAA||Highest Safety/Most Stable|
|AAA||Highest safety/Lowest credit risk|
|AA||High safety/Very low credit risk|
|A||Adequate safety/low credit risk|
|BB||Moderate risk of default|
|B||High risk of default|
|C||Very high risk of default|
|D||Defaulted or expected to be in default|
Bank FD schemes are schemes offered by banks while company offered FD schemes are schemes offered mainly by Non-Banking Financial Corporations (NBFCs). The interest rate offered by companies are higher as compared to bank FDs.
Yes, you can apply for a company FD online.
The mode of payment is either cumulative or non-cumulative.
Minimum tenure offered is generally one year.
Senior citizens can earn up to 0.50% additional interest rates on their deposits.
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