‘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.||CRISIL FAAA||6.15%|
|Mahindra Finance Ltd.||CRISIL FAAA||6.45%|
|Shriram City Union Finance Ltd||ICRA MAA+||8.40%|
|PNB Housing Finance Ltd.||CRISIL FAAA||6.70%|
|LIC Housing Finance Ltd||CRISIL FAAA||5.75%|
|HDFC LTD||ICRA MAAA||6.25%|
*The interest rates mentioned here tend to vary at the respective company’s discretion. The rates mentioned here are for cumulative deposits as of October 2020
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.
CRISIL Fixed Deposit Rating scale
|FAAA||Highest Safety/Most Stable|
Ratings by ICRA
|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|
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