One of the disappointing factor for investors is banks are reducing fixed deposit rates due to RBI repo rate reduction. Some of the bank FD rates are worse at 7.5% to 8.5% only. Now investor attention has moved to best company FD Schemes which are offering high interest. While the interest rate is one of the factors, investors should consider Credit rating too before investing in such Company FD Schemes. Which are the best Company FD Schemes which are offering high interest and which has a good rating? In this article, I would touch upon top company FD Schemes, its interest rates, features and credit rating so that investors can review and take a decision for investment.
What are company Fixed Deposits?
If you are familiar about company fixed deposits, skip this section. Companies/Corporates offer FD schemes to general public to mobilize funds for their working capital or expansion purpose or any other requirement. Since this is the easiest way to get money, many corporates approach public directly, however within SEBI guidelines. Such company FD Schemes are un-secured in nature. Means if something happens to the company and it gets windup, the investors of the FD scheme would be given last preference (before paying it to equity shareholders) to repay the deposit amounts along with interest. Hence, companies would issue such fixed deposits with high interest rates, which carries a high risk.
Also Read: How to open Sukanya Samriddhi Yojana Account and get 9.1% tax free interest for your girl child?
How I picked up these best company FD Schemes?
I have considered a few parameters in filtering these best company FD Schemes to invest.
- Filtered from well established companies. New / unfamiliar companies are ignored.
- Companies which are offering high interest rates of 9%+ per annum are considered.
- Companies whose credit rating are FAAA / MAAA, are considered as top rated companies for this purpose.
Is there any further risk if you invest in these top rated company FD Schemes?
Company FD Schemes are high risk. Top rated companies would have less risk compared to low credit rating companies. However, risk is still not eliminated. High risk individuals who are willing to park money for 2 to 5 years and expecting to get higher interest rates can invest in these Best Company FD Schemes. I suggest that you should invest only for short to medium term (upto 5 years) in such FD Schemes. It would be very very high risk if you want to invest for 5 to 10 years in such schemes as we do not know how the company would perform in such a long run.
Best Company FD Schemes offer high interest now
1) Shriram Transport Finance – Unnati FD Scheme
Shriram Transport is one of the largest transport, finance company in India.
Features of Shriram Transport Finance Unnati FD Scheme
- This FD scheme is available for 1 to 5 year period
- This FD scheme is available for cumulative and non-cumulative options
- Interest rates are between 8.65% to 9.75% per annum
- Annualised yield for 5 year FD scheme works out to be 11.85%.
- Individuals / HUF / Association of persons / Firms can invest in these Fixed deposit scheme
- Minimum deposit of ₹ 5,000 for cumulative interest option and ₹ 10,000 for monthly/quarterly/half yearly/yearly interest option.
- Premature withdrawal available with certain conditions
- No TDS in case interest in a year does not exceed ₹ 5,000. If interest is exceeding ₹ 5,000, TDS would be deducted on total interest amount (not just beyond ₹ 5,000) based on applicable tax laws.
- ICRA rated this as MAA+/Stable. The high-credit-quality rating assigned by ICRA. CRISIL rated this as FAA+/Stable. The rated deposits carries low credit for medium term.
- More details about FD scheme can be checked at this link
Also Read: Revised Interest Rates on Post office small saving schemes for FY 2015-2016
2) DHFL – Aashray Deposit Plus
Deewan Housing Finance Limited (DHFL) is one of the largest private housing finance company in India. DHFL has been assigned a rating ‘CARE AAA’ by CARE and ‘FAAA’ by Brickworks for various secured long term debt instruments.
Features of DHFL Aashray Deposit Plus FD Scheme
- This FD scheme is available for 1 to 10 year period
- This FD scheme is available for cumulative and non-cumulative options
- Interest rates are between 9.5% to 9.85% per annum
- Annualised yield for 5 year FD scheme works out to be 15.54%.
- Senior Citizens would get an extra interest rate of 0.25% more compared to others.
- Individuals / HUF / Association of persons / Firms can invest in these Fixed deposit scheme
- NRI’s can invest in this DHFL FD scheme on non repatriation basis. The interest also would be transferred to NRO account and a maximum deposit period would be for 3 years only.
- Minimum deposit of ₹ 10,000 for cumulative interest option and ₹ 20,000 for monthly/quarterly/half yearly/yearly interest option.
- Premature withdrawal available with certain conditions
- No TDS in case interest in a year does not exceed ₹ 5,000. If interest is exceeding ₹ 5,000, TDS would be deducted on total interest amount (not just beyond ₹ 5,000) based on applicable tax laws.
- BWR rated as FAAA which indicates excellent credit quality and Crisil rated this as CAAA which indicates high quality by all standards and high investment safety.
- More details about FD scheme can be checked at this link
3) PNB HFL – Fixed Deposit scheme
PNB Housing Finance Limited is a joint venture of Punjab National Bank (74% stake) and Destimoney Enterprises Pvt Ltd (26% stake) which provides housing finance.
Features of PNB HFL Fixed Deposit scheme
- This FD scheme is available for 1 to 10 year period
- This FD scheme is available for cumulative and non-cumulative options
- Interest rates are between 8.8% to 9.15% per annum
- Annualised yield for 10 year FD scheme works out to be 14%.
- Senior Citizens would get an extra interest rate of 0.25% more compared to others.
- Individuals / HUF / Association of persons / Firms can invest in these Fixed deposit scheme
- NRI’s can invest in this PNB HFL FD scheme on non repatriation basis. The interest also would be transferred to NRO account.
- Minimum deposit of ₹ 20,000 for cumulative interest option and ₹ 20,000 for yearly interest option.
- Premature withdrawal available with certain conditions
- No TDS in case interest in a year does not exceed ₹ 5,000. If interest is exceeding ₹ 5,000, TDS would be deducted on total interest amount (not just beyond ₹ 5,000) based on applicable tax laws.
- Crisil Rated this PNBHFL as FAAA which indicates high safety assurance.
- More details about FD scheme can be checked at this link
Also Read: PNB Housing Finance Ltd Fixed Deposit Scheme Review
4) Mahindra Finance – FD Scheme
Mahindra Finance is wholly owned by Mahindra and Mahindra Ltd. This is a non-banking finance company focused on financing in urban and rural sector.
Features of Mahindra Finance Fixed Deposit scheme
- This FD scheme is available for 1 to 5 year period
- This FD scheme is available for cumulative and non-cumulative options
- Interest rates are between 8.4% to 9.25% per annum
- Annualised yield for 5 year FD scheme works out to be 11.13%.
- Senior Citizens would get an extra interest rate of 0.25% more compared to others.
- Individuals / HUF / Association of persons / Firms can invest in these Fixed deposit scheme
- NRI’s can invest in this Mahindra Finance FD scheme.
- Minimum deposit of ₹ 10,000 for cumulative interest option and ₹ 25,000 for half yearly interest option and ₹ 50,000 for yearly interest non cumulative option
- Premature withdrawal available with certain conditions
- No TDS in case interest in a year does not exceed ₹ 5,000. If interest is exceeding ₹ 5,000, TDS would be deducted on total interest amount (not just beyond ₹ 5,000) based on applicable tax laws.
- More details about FD scheme can be checked at this link
4) Bajaj Finance Ltd – FD Scheme
Bajaj Finance Ltd. is the most diversified fastest growing NBFC in the country from one of the most trusted and respected business houses in India & the largest financier of consumer durables in the country and one of the most profitable firms in the category
Features of Bajaj Finance Ltd FD Scheme
- This FD scheme is available for 1 to 5 year period
- This FD scheme is available for cumulative and non-cumulative options
- Interest rates are between 9.25% to 10% per annum
- Annualised yield for 5 year FD scheme works out to be 11.85%.
- Senior Citizens would get an extra interest rate of 0.25% more compared to others.
- Individuals / HUF / Association of persons / Firms can invest in these Fixed deposit scheme
- NRI’s cannot invest in these FD Scheme.
- Minimum deposit of ₹ 50,000 for rural and semi-urban areas and ₹ 1.5 / ₹ 1 Lakhs for metro cities / urban areas.
- Premature withdrawal available with certain conditions
- No TDS in case interest in a year does not exceed ₹ 5,000. If interest is exceeding ₹ 5,000, TDS would be deducted on total interest amount (not just beyond ₹ 5,000) based on applicable tax laws.
- More details about FD scheme can be checked at this link
Conclusion: While risk is still not eliminated, these top rated high interest FD Schemes would provide higher interest compared to bank FD Schemes. While liquidity is an issue, a high risk investor who are willing to park money for 2 to 5 years can invest in these company FD Schemes and enjoy high returns.
Readers, what is your opinion about these Top and Best Company FD Schemes?
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Suresh
Best Company FD Schemes offer high interest now
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