The FD schemes would provide you with stable and fixed income, irrespective of interest rate fluctuations and equity market fluctuations. However, banks are offering low interest rates on FD. In such situation, company fixed deposit schemes would help you to earn higher interest. In this article, I would provide the top rated company fixed deposits, their features, interest rates and how they can help you get higher interest rates. Which are the best company FD schemes to invest in 2016?
What are company Fixed Deposits?
If you are familiar with company fixed deposits, you can skip this section. Companies/Corporates offer fixed deposit schemes for general public to mobilize funds for their working capital and business expansion. Since this is the easiest way to get money, many corporates would adopt this approach. However, these are un-secured fixed deposit schemes. Means if something happens to company performance and company is getting windup, the investors of the FD scheme would be given last preference (before paying it to shareholders) to repay the deposit amounts. Hence, companies would issue such fixed deposits with high interest rates, which carries a high risk.
Also Read: Best Post Office Small Saving Schemes to invest in 2016
How to reduce the risk and invest in such Corporate FD schemes?
Best way to reduce the risk is to invest in a top rated company fixed deposit schemes. ICRA, Crisil, BWR rates corporates and this could be a good indication about the performance of the company. I have analyzed a few top and best rated company FD schemes which you can invest in 2016.
Top Rated Company Fixed Deposit Schemes to invest in 2016
These company FD schemes can be invested to get superior returns.
1) Bajaj Finance Ltd FD Scheme
Bajaj Finance Ltd is the part of Bajaj group and one of the most diversified non-bank and the largest financier of consumer durables in India.
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 8.75% to 8.9% per annum
- Annualised yield for 5 year FD scheme works out to be 10.63%.
- Individuals / HUF / Association of persons / Firms can invest in these Fixed deposit scheme.
- NRI’s cannot invest in this FD scheme.
- Minimum deposit of ₹ 75,000.
- 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 company FD scheme as FAAA which indicates high credit-quality.
- You can invest in this FD scheme online at this link.
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 8.5% to 8.75% per annum
- Annualised yield for 5 year FD scheme works out to be 10.4%.
- 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 CARE rated this as AAA which indicates high quality by all standards and high investment safety.
- More details about FD scheme can be checked at this link
Also Read: Best Mid-cap Mutual Funds to invest in India
3) LIC Housing Finance Ltd FD Scheme
LIC Housing Finance Limited is one of the largest Housing Finance companies in India.
Features of LIC HFL 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 8.25% to 8.5% per annum
- Annualised yield for 5 year FD scheme works out to be 10%.
- Individuals / HUF / Association of persons / Firms can invest in these Fixed deposit scheme.
- NRI’s can invest in this FD scheme for upto 3 years FD scheme only.
- Minimum deposit of ₹ 10,000.
- 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 company FD scheme as FASS which indicates high credit-quality.
- You can download application form at this link.
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 8.45% per annum for 1 to 5 years tenure FD schemes.
- Annualised yield for 5 year FD scheme works out to be 10%.
- Senior Citizens would get an extra interest rate of 0.25% more compared to others.
- The Mahindra Finance Ltd Fixed Deposit has a Crisil rating of ‘FAAA’, which indicates a high level of safety.
- Individuals / HUF / Association of persons / Firms can invest in these Fixed deposit scheme
- NRI’s can invest in this Mahindra Finance FD scheme on non repatriation basis. The amount should be transferred from NRO account only. The interest also would be transferred to NRO account.
- Minimum deposit of ₹ 5,000 for cumulative interest option and ₹ 25,000 for half yearly interest option and ₹ 50,000 for yearly interest non cumulative option
- Premature withdrawal can be made after 3 months from the date of deposit/renewal as per the Directions of Reserve Bank of India and the terms and conditions of the company.
- 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.
- You can apply online at this link. https://www.mahindrafinance.com/online-application-form.aspx?ProductType=FixedDeposits
- More details about FD scheme can be checked at this link.
5) 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 7.95% to 8.42% per annum
- Annualised yield for 5 year FD scheme works out to be 9.96%.
- 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 and CRISIL FAAA/Stable which indicates high credit-quality. The rated deposits carries low credit for medium term.
- More details about FD scheme can be checked at this link: https://stfc.in/deposits.aspx
- Application form can be downloaded at this link.
6) PNB HFL – FD 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 5 year period
- This FD scheme is available for cumulative and non-cumulative options
- Interest rates are between 8% to 8.25% per annum
- Annualised yield for 5 year FD scheme works out to be 9.73%.
- 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 ₹ 10,000 for cumulative interest option and ₹ 20,000 for half 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: Complete review of PNBHFL FD Scheme which offers highest interest rates
Comparison of best company FD Schemes to invest in 2016
Conclusion: My suggestion is that investors who want superior returns, but willing to take risks can invest in such FD schemes. Since these are top rated FD schemes, I feel the so called ‘risk’ would be less.
Readers, I would love you hear from you about these FD schemes. Have you invested in these schemes? If yes, what is your experience?
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Suresh
Top Rated Company Fixed Deposit Schemes to invest in 2016
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