At the time of opening a fixed deposit with an NBFC (Non-Banking Financial Corporation), it is advisable for depositors to compare the interest rates offered by different institutions. Typically, NBFCs offer slightly higher interest rates on their term deposits than what the banks offer.
An FD can be opened by a resident Indian citizen, NRI, HUF, public or private firm, company or other entities like association of persons. Here we give a lowdown on FD interest rates offered by the NBFCs
NBFCs offer these interest rates on term deposits
I. ICICI Home Finance: This NBFC offers 7.65 percent (yearly income plan) on 39-month and 45-month tenure deposits. These rates came into force on May 19, 2025.
Early withdrawal: In case of an emergency, one can withdraw the deposit prematurely but only after paying a minimal fee. However, there is no premature withdrawal allowed in the first 3 months of deposit.
The minimum deposit amount for opening an FD could be ₹10,000 (annual/cumulative income plan), ₹20,000 (quarterly income plan) and ₹40,000 (monthly income plan).
II. Bajaj Finserv: Bajaj Finserv offers interest up to 7.30 percent per annum to senior citizens and 6.95 percent to regular citizens on tenure between 12-60 months. The deposit amount should be more than ₹15,000.
III. Muthoot Capital: FD with Muthoot Capital offers interest of 7.90 percent on 12-month deposit, 8.70 percent on 24-month deposit, 9.10 percent on 36-month deposit, 8.90 percent on 48-month deposit and 8.90 percent on 60-month deposit (annual scheme).
(Source: Company websites; *For senior citizens)
IV. Shriram Finance: Shriram finance offers maximum interest of 8.40 percent to depositors. Women depositors are offered an extra 10 basis points and senior citizens are given an extra 50 basis points. So, overall depositors can earn up to 9 percent per annum.
V. Sundaram Finance: Sundaram Finance offers up to 8 percent to senior citizens and 7.50 percent to regular citizens on fixed deposits on tenure of 24 and 36 months. These rates came into force on May 1, 2025.
On a tenure of 12 months, the NBFC offers 7.20 percent and 7.70 percent to regular and senior citizens, respectively. The minimum deposit is ₹10,000.
VI. PNB Housing Finance: This institution offers up to 7.50 percent per annum on a 60-month fixed deposit.
For all personal finance updates, visit here