Top 6 “AAA” Rated Corporate Deposits For Investment In 2021
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Mahindra & Mahindra Financial Services Limited
Crisil has given Mahindra Finance Fixed Deposits an FAAA rating, indicating a higher standard of deposit safety. This corporate deposit offers elderly people an extra 0.25 percent on Samruddhi Fixed Deposits and 0.35 percent to the company’s employees. Mahindra Finance is now offering the below-listed interest rates on deposits and the latest rates are applicable from 20th September 2021.
Samruddhi Cumulative Scheme (Up to Rs 1 Cr)
| Period in months | Interest p.a.(%) |
|---|---|
| 12 | 5.50% |
| 24 | 6.00% |
| 36 | 6.30% |
| 48 | 6.45% |
| 60 | 6.45% |
Samruddhi Non-Cumulative Scheme (Up to Rs 1 Cr)
| Period in months | Interest p.a. (Monthly) | Interest p.a. Quarterly) | Interest p.a. (Half yearly) | Interest p.a. (Yearly) |
|---|---|---|---|---|
| 12 | 4.95% | 5.30% | 5.40% | 5.50% |
| 24 | 5.45% | 5.80% | 5.90% | 6.00% |
| 36 | 5.75% | 6.10% | 6.20% | 6.30% |
| 48 | 5.90% | 6.25% | 6.35% | 6.45% |
| 60 | 5.90% | 6.25% | 6.35% | 6.45% |
| Source: mahindrafinance.com |
ICICI Home Finance Fixed Deposits
CRISIL has given ICICI HFC Fixed Deposits an FAAA/Stable rating, ICRA has given it an MAAA/Stable rating, while CARE has given it a AAA/Stable rating. Senior citizens can benefit from a 0.25 percent higher rate of interest on this corporate fixed deposit, which requires a minimum deposit of Rs 10,000. The following are the interest rates that are in force from August 23, 2021.
| Tenure in months | Cumulative | Non-Cumulative | ||
|---|---|---|---|---|
| Monthly Income Plan | Quarterly Income Plan | Yearly Income Plan | ||
| >=12 to | 5.25% | 5.10% | 5.15% | 5.25% |
| >=24 to | 5.65% | 5.50% | 5.55% | 5.65% |
| >=36 to | 5.75% | 5.60% | 5.65% | 5.75% |
| >=60 to | 6.45% | 6.25% | 6.30% | 6.45% |
| >=72 to | 6.65% | 6.45% | 6.50% | 6.65% |
| Source: icicihfc.com |
HDFC Green & Sustainable Deposits
For the last 27 years, HDFC Ltd. has maintained AAA ratings from two major credit rating agencies (CRISIL and ICRA) for its deposit scheme. The deposit scheme of the corporate provides the following competitive interest rates for a deposit amount of up to Rs 2 Cr.
Special Deposits (Fixed Rates)
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
| 33 Months | 6.00% | 6.05% | 6.10% | 6.20% | 6.20% |
| 66 Months | 6.40% | 6.45% | 6.50% | 6.60% | 6.60% |
| 99 Months | 6.45% | 6.50% | 6.55% | 6.65% | 6.65% |
Premium Deposits (Fixed Rates)
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
| 15 Months | 5.60% | 5.65% | 5.70% | – | 5.80% |
| 22 Months | 5.75% | 5.80% | 5.85% | 5.95% | 5.95% |
| 30 Months | 5.80% | 5.85% | 5.90% | 6.00% | 6.00% |
| 44 Months | 6.05% | 6.10% | 6.15% | 6.25% | 6.25% |
Regular Deposits (Fixed & Variable Rates)
| Period | Monthly Income Plan | Quarterly Option | Half-Yearly Option | Annual Income Plan | Cumulative Option |
|---|---|---|---|---|---|
| 12-23 Months | 5.50% | 5.55% | 5.60% | – | 5.70% |
| 24-35 Months | 5.65% | 5.70% | 5.75% | 5.85% | 5.85% |
| 36-59 Months | 5.85% | 5.90% | 5.95% | 6.05% | 6.05% |
| 60-83 Months | 6.20% | 6.25% | 6.30% | 6.40% | 6.40% |
| 84-120 Months | 6.35% | 6.40% | 6.45% | 6.55% | 6.55% |
Bajaj Finance Fixed Deposit
On deposits maturing in 36 to 60 months, Bajaj Finance Fixed Deposit provides the maximum interest rate of up to 6.50 percent to the general public and up to 6.75 percent to senior persons. Bajaj Finance has achieved CRISIL’s FAAA/Stable and ICRA’s MAAA stable ratings, ensuring the safety of your deposit.
| Tenors (Months) | Regular Citizens | Senior Citizens |
|---|---|---|
| 12-23 | 5.51% to 5.65% | 5.75% to 5.90% |
| 24-35 | 5.94% to 6.10% | 6.17% to 6.35% |
| 36-60 | 6.31% to 6.50% | 6.55% to 6.75% |
| With effect from 12th May 2021. Source: bajajfinserv.in |
Sundaram Finance Fixed Deposits
Sundaram Finance Fixed Deposits require a minimum deposit of Rs. 10,000/- per account and interest can be received through the RBI Electronic Clearing Service, NEFT, or cheques. Sundaram Finance deposits have been rated AAA for the past 30 years, indicating the safety of your capital. The below-listed interest rates are in force from August 08, 2021 for both regular and senior citizens.
| Tenors (Months) | Senior Citizen | Others | ||
|---|---|---|---|---|
| Monthly Interest Rate %p.a(FD) | Rate (% p.a at Quarterly rests for FD ) | Monthly Interest Rate %p.a(FD) | Rate (% p.a at Quarterly rests for FD ) | |
| 12 | 5.97 | 6 | 5.48 | 5.5 |
| 24 | 6.12 | 6.15 | 5.62 | 5.65 |
| 36 | 6.27 | 6.3 | 5.77 | 5.8 |
LIC HFL Sanchay Deposit Scheme
CRISIL has given LIC Housing Finance Limited’s Sanchay Deposit Scheme an FAAA/Stable rating. The interest rates on public deposits up to Rs 20 crore are applicable from April 1, 2021, and are mentioned below. For deposits of Rs 20,000/- and above, but up to Rs 20 Crores on all tenors, senior persons would be entitled to an additional 0.25 percent p.a. interest rate.
| TERM | INTEREST RATE P.A. FOR MONTHLY OPTION | INTEREST RATE P.A. FOR YEARLY OPTION |
|---|---|---|
| Non-Cumulative Deposits | Cumulative & Non-Cumulative Deposits | |
| 1 YEAR | 5.10% | 5.25% |
| 18 MONTHS | 5.35% | 5.50% |
| 2 YEARS | 5.50% | 5.65% |
| 3 YEARS | 5.60% | 5.75% |
| 5 YEARS | 5.60% | 5.75% |
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