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Top 3 Non-banking Financial Companies (NBFCs) in India 2021 Offering High Interest Rates

Fixed deposit (FD) is an ideal way to save money with safety. It’s one of the oldest ways for people to save money for tough times and a better future. There is a range of banks and non-banking organizations offering the best FD schemes to invest in. FD provides a high-interest rate as compared to banks and suggests a better way to stand up for a typical living.

Here we enlisted the top 3 NBFCs that are highly trusted by people and provide high interest rates to their customers. If you plan to invest in FD, you can choose these NBFC to attain a high yield.

Read also: Fed cuts interest rates amid fears of COVID-19

  • Bajaj Finance

If you want to get the best interest rates on your FDs, Bajaj Finance is one of the best possibilities. Bajaj Finance Fixed Deposits provide competitive interest rates of up to 8.35 percent, allowing you to swiftly multiply your money.

Your principal amount is not in danger because Bajaj Finance is AAA-rated. It’s vital to remember that if the interest amount surpasses Rs 5,000 throughout the fiscal year, a 10% TDS would be applied.

  • Mahindra Finance

The Fixed Deposit scheme from Mahindra Finance was created with this low-risk investment in mind, ensuring guaranteed returns at highly competitive FD interest rates. Mahindra Finance has a Crisil rating of ‘FAAA,’ indicating a high level of safety.

Senior citizens can earn an additional 0.25 percent interest rate on Samruddhi and DhanSamruddhi Deposits. Employees, Employees’ families, M & M group firm Retired Employees, and Retired Employees Relatives are eligible for a 0.35 percent interest rate increase. Investors should be aware that if the interest amount exceeds Rs 5,000 throughout the financial year, a TDS of 10% will be applied.

Read also: Kotak Mahindra Bank cuts home loan interest rate to 6.5% for 2 months

  • Shriram Transport Finance

Shriram Transport Finance Company FD, rated “FAA / Stable” by CRISIL and “MAA+/ Stable Outlook” by ICRA, offers high-interest rates with assured principal protection.

STFC (Shriram Transport Loan Company Ltd.) is a well-known commercial vehicle finance company. A Non-Banking Financial Company (NBFC) offers attractive interest rates on fixed deposits (FDs), RDs, and STFCs. Without any doubt you can invest for future in Shriram Transport Finance Company FD scheme. 

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