4 NBFCs offer over 8 percent interest rate on their fixed deposits
fixed deposit, investors are advised to compare different financial institutions and the interest rates they offer in order to maximise the returns they can earn. Although financial banks are considered safest institutions to open a fixed deposit, or FD, some investors opt for non-banking financial institutions to earn higher returns. Here, we list out top NBFCs which offer the highest interest rates.
Bajaj Finserv: Bajaj Finserv offers 7.4 per cent for loans of 12-to-14 month-tenure. It increases to 7.5 percent for loans of 15-23-month tenure. The interest rate is 7.55 percent for loans with 24-month tenure.
When the tenure is between 25-35 months, the NBFC offers 7.35 percent interest and when the tenure is between 36 to 60 months, the rate of interest stretches to 8.05 percent. Muthoot Fincorp: Muthoot Capital offers 7.45 percent on FDs with one-year tenure. When the tenure is between 1-2 years, the interest rate is 8 percent.
When the tenure is between 2-3 years, the interest rate is 8.5 percent. On a 4-year tenure, the NBFC offers 7.4 percent interest. And when the FD tenure stretches to 5 years, the interest rate is 7.5 percent.
(Source: Companies’ websites) Shriram Finance: Shriram Finance offers interest rate in the range of 7.8 to 8.6 percent per annum. The interest rate is 7.8 percent on 12-month deposit, it rises to 7.95 percent when the tenure is 18 months. This further rises to 8.10 percent when the tenure is 24 months.
And when the tenure is 30 months, the interest rate is 8.30 percent. The maximum rate of 8.60 percent is offered when the FD is booked for 50 or 60 months. ALSO READ: How NBFCs are an opportunity for retail investors Mahindra Finance: Mahindra Finance offers interest in the range of 7.75
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