Investing in Fixed Deposits (FDs) through Non-banking Financial Companies (NBFCs) remains one of the most secure and reliable ways for individuals to grow their savings over time. With the promise of guaranteed returns and low risk, FDs from NBFCs are a popular choice among conservative investors looking for higher interest rates compared to traditional banks.
For those in India seeking to maximise their returns on a 5-year FD, selecting the right NBFC is crucial. Here are some of the top 5 NBFCs offering the highest interest rates on their 5-year FDs, helping you make an informed decision.
1. Bajaj Finance
Bajaj Finance, a prominent name in the NBFC sector, offers highly competitive interest rates on its 5-year FDs. Known for its robust financial health and customer-centric approach, Bajaj Finance provides one of the highest FD interest rates in the market, making it an attractive option for investors.
Key Features:
- High Interest Rates: Bajaj Finance offers attractive interest rates of up to 8.35% p.a. on its 5-year FD.
- Flexible tenors: While focusing on a 5-year tenor, Bajaj Finance also provides various other options to suit different investment horizons.
- Easy Online Process: The convenience of booking an FD online through platforms like Bajaj Markets, a financial supermarket, adds to the appeal. This marketplace allows investors to compare FD interest rates across various financial institutions, ensuring they choose the best option available.
2. Mahindra Finance
Mahindra Finance is another leading NBFC that offers competitive FD interest rates, making it a strong contender for those looking to lock in their funds for a 5-year period. Known for its strong rural presence and customer trust, Mahindra Finance FDs are a reliable option.
Key Features:
- Attractive Returns: Mahindra Finance provides high returns of up to 8.35% p.a. on its 5-year FDs, making it an attractive choice for both urban and rural investors.
- Senior Citizen Benefits: Higher interest rates for senior citizens are a significant advantage, allowing them to earn 0.25% p.a. more on their savings.
- Secure Investment: The NBFC’s FDs are rated AAA/Stable by CRISIL
3. PNB Housing Finance
PNB Housing Finance is well-regarded for its attractive FD schemes and competitive interest rates. Catering to a wide range of customers, PNB Housing Finance ensures that your investment grows steadily over time.
Key Features:
- Competitive Rates: The FD interest rates offered by PNB Housing Finance on the 5-year tenor go up to 7.80% p.a.
- Reputation and Trust: Backed by a major national bank, the trust and reliability of PNB Housing Finance are unparalleled.
- Flexible Investment Options: Investors can choose from a variety of tenors, going up to 10 years.
4. Shriram Finance
Shriram Finance is known for offering some of the highest FD interest rates in the NBFC sector. With a strong focus on customer satisfaction and secure investment options, Shriram Finance FDs are an excellent choice for long-term investors.
Key Features:
- High Returns: Shriram Finance offers some of the highest returns on 5-year FDs, at up to 8.97% p.a.
- Senior Citizen Benefits: Higher interest rates of up to 0.50% p.a. for senior citizens provide an added advantage for older investors.
- Women Depositor Benefit: The NBFC offers women an additional 0.10% p.a. on their investments
5. HDFC Ltd.
HDFC Ltd., one of the most trusted names in the Indian financial sector, offers attractive FD schemes with competitive interest rates. Known for its strong financial foundation and excellent customer service, HDFC Ltd. is a preferred choice for many investors.
Key Features:
- Competitive Returns: The FD interest rates offered are among the highest in the industry, at up to 7.50% p.a. for the 5-year period.
- Customer-Friendly Processes: Easy online application and management of FDs add to the convenience of investing with HDFC Ltd.
Conclusion
Choosing the right institution for your 5-year FD can significantly impact your returns. NBFCs like Bajaj Finance, Mahindra Finance, PNB Housing Finance, Shriram Finance, and HDFC Ltd. offer some of the highest FD interest rates in the market. This ensures that your savings grow securely over time. Platforms like Bajaj Markets can help you compare and choose the best FD options, ensuring you make the most informed investment decision.
By considering the interest rates, reputation, and specific benefits offered by these top companies, you can ensure that your investment in a 5-year FD yields the best possible returns. Whether you are looking for short-term or long-term investment options, these NBFCs provide reliable and lucrative opportunities to grow your savings securely.
