Top 5 NFBCs offer higher interest rates on their fixed deposits; check list here
risk appetite, you may want to earn a higher income at a slightly higher risk. Besides opening a fixed deposit (FD) with a bank, you may consider opening an account with a non-banking financial corporation (NBFC) as well which typically offer a higher interest rate on their fixed deposits but are slightly riskier vis-a-vis banks. Here we list out NFBCs offering higher interest rates Bajaj Finserv: This NBFC offers higher interest rates on special periods i.e., 18, 22, 33 and 44 months.
The interest rates range between 7.40 percent to 8.25 percent per annum across durations. ALSO READ: Bank of Baroda raises lending rate by 5 bps starting today. Details here On an 18-month FD, the interest rate is 7.8 percent.
On 22-month FD, the interest rate is 7.9 percent. The interest rate rises to 8.10 percent on 33-month FD and the maximum interest of 8.25 percent is offered on 44-month FD. (The above table refers to special period FDs) (Source: bajajfinserv.in; Regular period) Muthoot Capital: It offers interest in the range of 7.45 to 8.5 percent per annum.
For one year, the NBFC offers 7.45 percent interest rate, for 15 months, the interest rate rises to 8.5 percent, for two years the rate is 8 percent and for three years it is 8.5 percent and for five years, it is7.5 percent. (Source: muthootcap.com) Shriram Finance: It offers interest in the range of 7.85 to 8.8 percent per annum. On one-year FD, the NFBC offers 7.85 percent.
On two-year FD, the rate of interest is 8.15 percent and on 3-year FD, it is 8.70 percent. The maximum interest of 8.80 percent is offered on a five-year fixed deposit. (Source: shriramfinance.in) Mahindra Finance: It offers interest in the range of 7.75 to 8.05 percent.
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