Top four NBFC fixed deposits with AAA rating that offer up to 7.95 % interest

One of the leading consumer companies Bajaj Finance is a AAA rated NBFC. It offers a deposit interest rate of 7.95 percent for tenure of 44 months. NBFC also offers an additional 0.25 percent interest rate per annum to senior citizens. Moreover, the depositor can also avail loan against fixed deposits.  

Second pick, HDFC Ltd (Housing Development and Finance Corporation Ltd ) is also a AAA rated organisation for nearly 28 years. Recently, on its 45th anniversary, HDFC launched a new product namely Sapphire deposits with a tenure of 45 months and the annual and cumulative fixed deposit offers an interest rate of 7.60 percent per annum to general public and 7.10 to 7.85 percent per annum to senior citizens on tenures ranging from 1 year to 10 years. 

Third pick, Sundaram Finance has been a AAA rated NBFC for over 30 years. According to the ICRA, AAA indicates highest-credit-quality and carries lowest credit risk for the depositors. The NBFC offers a fixed deposit interest rate of 7.20 to 7.50 percent for 1 year to 3 years to the general public. It also offers an additional 0.5 percent to senior citizens across tenures, making the effective fixed deposit interest rate of 7.70 to 8.00 percent. 

Our fourth pick is Mahindra Finance, which is also a AAA rated NBFC. The company’s fixed deposit product, called Dhanvruddhi. It offers fixed deposit interest rates of 6.75 to 7.50 percent per annum to the general public and 7.00 to 7.75 percent per annum to senior citizens on tenures ranging from 1 year to 5 years. (Note: All the interest rates are updated as of 13 January 2023 from the official websites)