Corporate FDs
A Corporate Fixed Deposit is a financial instrument where an investor gives a certain sum of money to a corporate and the entity pays interest for the duration of the deposit.
What are Corporate Fixed Deposits?
A Corporate Fixed Deposit is a financial instrument where an investor gives a certain sum of money to a corporate and the entity pays interest for the duration of the deposit. Acceptance of fixed deposits by companies is governed by the applicable provisions contained in section 73-76 of the Companies Act, 2013.
These fixed deposits are currently unsecured in nature. They offer slightly higher returns vis-à-vis the bank deposits. Fixed deposits can be made for a period ranging from 1 to 10 years and the investor can choose monthly/quarterly/half yearly/yearly options for receiving the interest payments according to their needs.
Non-Banking Finance Companies (NBFC)
- NBFC can accept deposits basis their credit rating issued by any of the credit rating agencies like CARE, ICRA, CRISIL and FITCH.
- They can accept or renew deposits, not exceeding one and one-half times of its Net Owned Funds.
- They can accept deposits for a minimum period of 12 months and a maximum period of 60 months
- Interest will be paid on a monthly, quarterly, half-yearly, annually and on maturity (cumulative) depending upon the deposit you make.
- Investors can avail a loan up to 75% of the amount invested and also allowed premature withdrawal
- Credit Rating: CRISIL FAAA ICRA MAAA
- 0.25% additional for Senior Citizens.
- Minimum Amount ₹ 25,000
| Period | Rate of Interest |
| 12-23 Months | 5.65% |
| 24-35 Months | 6.10% |
| 36-47 Months | 6.50% |
| 48-60 Months | 6.50% |
- Credit Rating: FAAA by CRISIL
- 0.25% extra interest for Senior Citizen Deposits.
- Minimum Amount ₹ 5,000
| Period | Rate of Interest |
| 12 Months | 6.70% |
| 18 Months | 6.90% |
| 24 Months | 6.95% |
| 30 Months | 7.10% |
| 36 Months | 7.15% |
| 38 Months | 7.20% |
| 44 Months | 7.25% |
| 48 Months | 7.25% |
| 60 Months | 7.25% |
- Credit Rating: ICRA MAA+
- 0.25% extra interest for Senior Citizen Deposits
- Minimum Amount ₹ 25,000
| Period | Rate of Interest |
| 12 Months | 7.50% |
| 24 Months | 7.70% |
| 36 Months | 8.15% |
| 48 Months | 8.20% |
| 60 Months | 8.40% |
- Credit Rating: ICRA MAA+ CRISIL FAAA
- 0.25% extra interest for Renewal Deposits for Senior Citizens.
- Minimum Amount ₹ 25,000
| Period | Rate of Interest |
| 12 Months | 7.93% |
| 24 Months | 8.13% |
| 36 Months | 8.59% |
| 48 Months | 8.63% |
| 60 Months | 8.83% |
Last Updated in August 2020
Housing Finance Companies (HFC)
- As the name implies, these companies have the principal object of providing finance for housing, whether directly or indirectly. They are registered with National Housing Bank.
- They can accept deposit not exceeding five times of their net owned fund.
- They can accept deposits basis their credit rating issued by any of the credit rating agencies like CARE, ICRA, CRISIL, FITCH, Brickwork etc.
- They can accept public deposits for periods between one & ten years only.
- A loan may be taken up to 75% of the amount of deposit after 3 months from the date of public deposit.
Individuals
- Credit Rating: CRISIL FAAA ICRA MAAA
- 0.25% extra interest for Senior Citizen Deposits up to 2 Crore only
- Minimum Amount ₹ 20,000
| Period | Rate of Interest |
| 12-23 Months | - |
| 24-35 Months | 6.20% |
| 36-47 Months | 6.25% |
| 48-59 Months | 6.25% |
| 60-71 Months | 6.25% |
| 72-84 Months | 6.25% |
Trust & Institutions
- Credit Rating: CRISIL FAAA ICRA MAAA
- 0.25% extra interest for Senior Citizen Deposits up to 2 Crore only
- Minimum Amount ₹ 20,000
| Period | Rate of Interest |
| 12-23 Months | - |
| 24-35 Months | 6.05% |
| 36-47 Months | 6.05% |
| 48-59 Months | 6.05% |
| 60-71 Months | 6.05% |
| 72-84 Months | 6.05% |
- Credit Rating: CARE AAA FD, ICRA MAAA
- 0.25% extra interest for Senior Citizen
- Minimum Amount ₹ 10,000
| Period | Rate of Interest |
| 12-23 Months | - |
| 24-35 Months | 6.20% |
| 36-47 Months | 6.25% |
| 48-59 Months | 6.25% |
| 60-71 Months | 6.25% |
| 72-84 Months | 6.25% |
Special Scheme Rates
- Credit Rating: CARE AAA FD, ICRA MAAA
- 0.25% extra interest for Senior Citizen
- Minimum Amount ₹ 10,000
| Period | Rate of Interest |
| 30 Months | 6.30% |
| 45 Months | 6.45% |
| 66 Months | 6.50% |
- Credit Rating: CARE AAA FD, ICRA MAAA
- 0.25% extra interest for Senior Citizen Deposits from Rs.10,000 upto ₹ 20 Crores
- Minimum Amount ₹ 10,000
| Period | Rate of Interest |
| 12 Months | 6.00% |
| 18 Months | 6.05% |
| 24 Months | 6.00% |
| 36 Months | 6.30% |
| 60 Months | 6.30% |
- Credit Rating: CARE AAA FD, ICRA MAAA
- 0.25% extra interest for Senior Citizen Deposits up to 1 Crore only
- Minimum Amount ₹ 10,000
| Period | Rate of Interest |
| 24-35 Months | 7.00% |
| 36-47 Months | 7.15% |
| 48-59 Months | 7.15% |
| 60-71 Months | 7.25% |
| 72-84 Months | 7.35% |
| 120 Months | 7.35% |
- Credit Rating: FAAA/STABLE BY CRISIL
- 0.50% p.a. additional interest for Senior Citizens
- Minimum Amount ₹ 10,000
| Period | Rate of Interest |
| 12 Months | 6.75% |
| 18 Months | 6.75% |
| 24 Months | 7.00% |
| 36 Months | 7.00% |
| 48 Months | 7.00% |
| 60 Months | 7.00% |
Last Updated in August 2020
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