For those seeking higher returns, exploring non- financial companies (NBFCs) can be a viable option, as they often more lucrative interest rates ond deposits compared to traditional banks. Here’s a list of leading NBFCs offering attractive interest rates exceeding 7% per annum.
Bajaj Finserv: This NBFC offers elevated interest rates on select maturity periods, ranging from 7.40% to 8.25% annually. The interest rate for an -month fixed deposit is 7.%, while a 22-month deposit earns 7.9%. The rate further increases to 8.10% for a 33-month term and reaches a maximum of 8.25% a 44-month fixed deposit.
Muthoot Capital: This NBFC presents interest rates between 7.45% and 8.5% per annum. For a one-year fixed deposit, the interest rate is 7.45%, and it rises to 8% for a 15-month term.
Shriram Finance offers a range of interest rates, from 7.85% to 8.% per year. A one-year fixed deposit earns 7.85%, while a two-year deposit yields 8.15% and a three-year deposit pays 8.70%. The highest rate of 8.80% is available for a five-year fixed deposit.
Mahindra Finance provides interest rates between 7.75% and 8.05%. For a 15-month tenure, the rate is 7.75%, rising to 7.90% for a 30-month term and 8.05% for a 42-month deposit.
ICICI Home Finance’s interest rates fall within the 7.25% to 7.65% range. Deposits with a12- to 24-month term earn 7.25%, while those with a 24- to 36-month tenure receive 7.55%. For 36- to 60-month deposits, the rate is 7.65%, but it drops to 7.50% for deposits with a 72- to 120-month term.
