The Omicron variant of Corona is raising the possibility of increasing the problems of the economy. In such a situation, people are looking for such investment options for financial security where high returns are being given. Those who want safe returns are putting money in FDs of banks and post offices. But here the interest rates are very low. In such a situation, a large number of people are investing money in FDs of companies, where up to 7.48 percent interest is being received.
At present, many public and private sector as well as housing finance companies are giving annual interest ranging from 5.75 to 7.48 percent on FDs. According to bankbazaar.com, the maximum interest is getting 7.48 percent.
Earn money by looking at ratings
Company or corporate FDs are fixed deposit schemes just like bank FDs. The top rated company FD guarantees assured returns and also offers flexible options to choose the deposit tenure. Their biggest attraction is getting higher interest than bank rates. The tenure of company FD can be from 12 months to 120 months.
However, investors must keep the rating in mind. Many times more interest is paid by FDs with lower ratings but they can be risky. Investors should choose after looking at the AAA, AA and AA+ ratings while investing in FDs in the company. Rating agencies like CRISIL, ICRA (ICRA), CARE (CARE) rating these FDs. Company FD can be selected on the basis of the list given here. This list has been prepared by BankBazaar.com.
All companies give 0.25% more interest to FD senior citizens. However, Shriram City Union and Shriram Transport Senior Citizen pay 0.40 per cent higher interest to such depositors. On the other hand, Sundaram Home Finance and Sundaram Finance gives them 0.50 percent more interest.
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