Company Fixed Deposit with High Credit Rating - February 2021
Thursday , March 18 , 2021 53 0
Company deposit is the deposit amount held for a fixed or defined time at a specific rate of interest. Generally, company investors opt for fixed deposits, and Non-Banking Financial companies, as well as other financial institutions, accept such amounts. The fixed amount is controlled under Section 58A by the Companies Act. The money invested is unsecured; therefore, if the company fails, the investor cannot recover the capital by selling it. The fixed deposit rates finance companies involved need a serious analysis as the process is very risky.
Five Corporate FDs with higher credit rating
The company or corporate fixed deposit schemes generally have a higher rate of interest than that bank FDs. The fixed deposit rates finance companies offer to lure the corporate investors into putting money into such financial institutions.
DICGC does not cover the fixed deposits under financial companies. So, it is highly important to opt for better-rated companies where there is more sense of security and higher returns. Most banks provide interest nearly around 6 to 7 percent on the fixed deposits, but higher credit-rated companies offer much more than it. One can increase up to 150 basis points by simply changing from bank fixed deposit to a highly certified financial institution.
Some of the financial companies and institutions with higher credit rating agencies are mentioned below.
1. Bajaj Finserv Fixed Deposit scheme
The scheme of Bajaj finance fixed deposit has the following highlights.
- Credit rating agencies like CRISIL, ICRA, and MAAA has provided excellent rating to the Bajaj finance fixed deposit scheme. This ensures the investments have a potentially lower risk.
- The minimum amount needed for the deposit is Rupees 25,000. It also provides higher rates of interest for senior citizens which can range up to 0.25 percent increased rates.
- The deposit amount tenure or time period ranges from one year to 60 months.
- Online loan amount up to four lakhs is available, and it also provides an auto-renewal option.
There are new changes in the interest rates on fixed deposits. In the tenure of 12-23 months, the recent interest rate is 6.15percent which was earlier 6.10 percent. For the time period of 24 to 35 months, previous rates were 6.30 percent which increased to 6.60 percent now. The interest rates for 36-60 months have become 7 percent which is .40 percent more than the previous one. All the rates are calculated cumulatively.
2. Tata Capital account fixed deposit:
Tata fixed deposit 2021 scheme has several lucrative offers on depositing a lump sum amount for a particular time period. The tenure Tata fixed deposit 2021 scheme fulfills one's financial objective.
- It offers competitive rates of interest with flexibility in the FD time period that will tone with any investment plans.
- It gives easy access to opening a fixed deposit account. One can open FD online or visit the nearest Tata Capital Account branch.
- No limitations on interest rates or caps are given on the maximum deposit amount.
- The time period starts from 7 days up to 10 years.
- A nomination facility and easy liquidity options are available.
- Loans against fixed deposit facilities are presented up to 85 percent on the amount.
- Tax profit money up to 1,50,000 and auto as well as part renewal facility is also available.
- Non-resident external (NRE), Nonresident ordinary (NRO), and foreign currency non-resident (FCNR) account facility is also at hand.
- The company provides higher interest rates to senior citizens as compared to regular citizens, which is 0.25 to 0.75 percent more.
3. L&T Finance limited:
The L &T finance fixed deposit interest rates are very lucrative for investors and highly stable with AAA ratings. Credit rating agencies like CRISIL have given the entire financial services of L&T a stable rating. The L&T housing finance FD rates offer easy and high interest on housing facilities.
4. HDFC limited fixed deposit:
The key highlights of the HDFC limited fixed deposit are mentioned below
- The company rating is very stable according to CRISIL and ICRA, which provided it AAA rating.
- A loan facility is available for the investors against the fixed deposit facility.
- It offers cumulative as well as non-cumulative options, which means one can receive payouts quarterly and half-yearly.
- Annual and monthly income plan is accessible.
- Tenure of the fixed deposit can range from 7 days up to 10 years.
- The minimum amount required for investment in FD is Rupees 20,000 for the cumulative option.
The rates differ according to the time period. For 7- 29 days, the interest rate is 2.50 percent, and for 30 to 90 days, the rate remains 3 percent. From 90 days up to 6 months, the rate remains at 3.50 percent. If the FD remains for one year, the interest rate available is 4.40 percent. Within ten years, the interest rates increase to 5.50 percent, and for senior citizens, it is up to 6.25 percent.
The above-mentioned rates are only available for deposits less than two crores, and the interest rate above it may vary.
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5. PNB housing finance fixed deposits:
PNB housing finance company ensures a safe level of investment with an FAAA rating by CRISIL.
- The minimum deposit amount is rupees 10,000 and has no TDS up to 5000 rupees annually.
- Corporates, residents, and HUFs can apply for the FD in the company.
- Loan/ overdraft available on the FD facility up to 75 percent on the amount.
- A nomination facility is also available based on the NHB guidelines.
- The tenure of the deposit amount varies from 12 months to 120 months.
- The rate of interest from 12 to 23 months is 5.90 percent and reaches up to 6.70 percent in 120 months. The rates are available for a value of fewer than five crores.
- Senior citizens get 0.25 percent additional interest, and it is only valid for an amount up to one crore.
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