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Here is list of company fixed deposit interest rates
| Company Fixed Deposit Rates | |||||||
| Company Name | Credit Rating | Interest Rates (p.a.) | Additional interest rate for senior citizen | ||||
| Highest Rate Slab | Applicable tenure | 1-year tenure |
3-year tenure |
5-year tenure |
|||
| Shriram Finance* | ICRA – AA+/Stable IND AA+/Stable by India Ratings and Research |
8.47 | 50 months and 5 years | 7.59% | 8.38% | 8.47% | 0.50% |
| Mahindra Finance | CRISIL – AAA/Stable India Ratings – IND AAA/Stable | 8.1 | 3 years and 5 years | 7.50% | 8.10% | 8.10% | 0.25% |
| Manipal Housing Finance Syndicate Ltd. | ACUITE – ACUITE A | 8.25 | 1 year, 2 years and 3 years | 8.25% | 8.25% | 7.75% | 0.25% |
| PNB Housing Finance Ltd. | CRISIL – AA/Positive CARE – AA+/Stable |
7.85 | 36-47 months | 7.45% | 7.85% | 7.65% | 0.20%-0.30% |
| Sundaram Home Finance | CRISIL – AAA/Stable ICRA – AAA/Stable |
7.9 | 4 years and 5 years | 7.45% | 7.75% | 7.90% | 0.35%-0.50% |
| Muthoot Capital Services Limited | CRISIL – A+/Stable | 8.38 | 5 years | 7.21% | 8.07% | 8.38% | 0.50% |
| ICICI Home Finance | CRISIL – AAA/Stable ICRA – AAA/Stable CARE – AAA/Stable |
7.65 | 3 to less than 5 years | 7.25% | 7.65% | 7.60% | 0.25% |
| Can Fin Homes Ltd. | ICRA – AAA/Stable | 7.5 | 3 years | 6.50% | 7.50% | 6.75% | 0.25%-0.50% |
| Bajaj Finance Limited | CRISIL – AAA/Stable ICRA – AAA/Stable |
8.6 | 42 months | 7.40% | 8.10% | 8.10% | 0.25% |
| LIC Housing Finance Ltd. | CRISIL – AAA/Stable | 7.75 | 3 years and 5 years | 7.25% | 7.75% | 7.75% | 0.25% |
| *At Monthly Rests. Additional interest of 0.25% p.a on all renewals, where the deposit is matured. Additional interest of 0.10% p.a. for women depositors. | |||||||
| Data as on 15th May 2024 | |||||||
Is it safe to invest in FDs of these Corporates?
According to the SBI securities website, “The deposit scheme of companies is ‘AA/AAA’ rated from independent rating agencies like CRISIL, ICRA & CARE (reaffirmed over the long period) which indicates credible track record & high to highest degree of safety when it comes to timely repayment of Interest and Principal investment amount.”
Are the returns on Corporate FDs taxable? If yes, what is the TDS treatment?
Yes. Interest earned from Corporate FD is taxed as per the marginal tax slab rate of an individual. Also, 10% TDS is deducted from the interest payable if total interest earned by an individual is equal or more than Rs. 5,000 in a financial year.
Resident Individuals can avail exemption from TDS by submitting form 15G / 15H (as applicable). However, this declaration has to be submitted in every FY until maturity.
Tips for choosing a Corporate FD:
Consider these factors before choosing Corporate FD schemes to invest in.
- Credit Rating: Opt for higher-rated corporate FDs based on its credit rating which indicates the underlying risk of the company.
- Company Background: Assess a company’s business viability by referring to its Financial Statements, Management Discussion and Analysis (MD & A).
- Repayment History: Companies repayment history helps to determine a company’s credit score, credibility and stability.
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