1. Tamil Nadu Power Finance FD
Tamil Nadu Power Finance and Infrastructure Development Corporation Limited is wholly owned by government of Tamil Nadu. It has been registered with RBI as a Non-Banking Finance Company. It Mobilizes funds through various attractive Deposit Schemes. As it is backed by the Tamil Nadu Government, the FDs are safe. It offers non-cumulative fixed deposits and cumulative fixed deposits. It offers the maximum interest rate of 8.50% to senior citizens and 8% interest rate for general citizens for FDs for the tenor of 4 years.
2. Shriram Finance FD
Shriram Transport Finance Company or STFC was incorporated in the year 1979 and is registered as a Deposit taking NBFC with Reserve Bank of India under section 45IA of the Reserve Bank of India Act, 1934. STFC decided to finance the much-neglected Small Truck Owner. It offers commercial vehicle loan, deposits, working capital loan, life insurance and business loan. Currently, it is offering fixed deposits at the maximum interest rate of 8.40% to senior citizens and 7.9% to general citizens for 4-year tenor.
3. Bajaj Finance Ltd FD
It is the leading arm of Bajaj Finserv Limited and emerged as one of the most diversified NBFCs in the Indian market. It has the highest domestic credit rating of AAA/Stable for long term borrowing, A1 + for short term borrowing and FAAA/Stable and MAAA Stable for its FD program. So deposits remain safe. Currently, it is offering highest interest rate of 7.65% to senior citizens and 7.40% to general citizens for 3-year tenor.
4. Jana Small Finance Bank FD
Jana Small Finance Bank Limited (Jana Small Finance Bank) is one of the leading Small Finance Banks of India in terms of assets under management and deposit size as at March 31, 2020. Jana Small Finance Bank has the second most geographically diversified portfolio with a pan-India presence among all Small Finance Banks in India as at March 31, 2020 (Source: IRR Report). Senior citizens can fetch the best interest rate of 8.15% and general citizens can get the best rate at 7.35% for 3-year tenor. It has the highest rating of AAA, rated by ICRA and CRISIL.
5. PNB HFL FD
PNB Housing Finance Limited (PNB Housing) is a registered housing finance company with National Housing Bank (NHB). It was incorporated under the Companies Act, 1956 and commenced its operations on November 11, 1988. PNB Housing is promoted by Punjab National Bank (PNB). It has received the rating of CARE AA/Stable so your deposits are safe. Seniors citizens can get best interest rate of 7.50% while general citizens can get maximum interest rate of 7.25% for the tenor of 5 years.
6. Utkarsh Small Finance Bank FD
Utkarsh Small Finance Bank is a Small Finance Bank from Varanasi. It was established in 2009 with the mission to empower the low-income group financially. The best interest rate it is offering is under tenor 700 days to 1000 days. Senior citizens can get an interest rate of 7.75% for 1-year tenor while general citizens can get the interest rate of 7.25% when they open an FD with the bank.
7. Suryoday Small Finance Bank FD
Suryoday Small Finance Bank is a new age bank that went live on January 23rd 2017. It is among the 10 companies and the only one from Maharashtra to obtain a ‘Small Finance Bank’ license from the Reserve Bank of India (RBI). The bank is offering best interest rate in the 999 days tenor. It is offering an interest rate of 7.99 to senior citizens and 7.49% to general citizens.
8. RBL Bank
RBL Bank is one of India’s leading private sector banks with an expanding presence across the country. The Bank offers specialized services under five business verticals namely: corporate & institutional banking, commercial banking, branch & business banking, retail assets and treasury and financial markets operations. It is offering best interest rate in the tenor of 15 months. Senior citizens can get an interest rate of 7.15% while general citizens can get the interest rate of 6.65%.
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