Certain Non-banking Financial Companies (NBFCs) offer competitive interest rates of up to 9.40% p.a. on fixed deposits, making them a reliable investment choice. Explore attractive NBFC
Get up to 9.40% p.a. interest, inclusive of additional benefit of 0.50% p.a. for senior citizens and 0.10% p.a. for women
NBFC FD rates are generally higher as compared to regular FDs, so you can get better returns. However, these interest rates may vary, based on the financial institution and type of FD. Some financiers also offer interest rate benefits to individuals based on their age, payout frequency, and tenor, among other factors.
Before you invest, make sure you compare different options to choose what works best for you On Bajaj Markets, find NBFCs offering interest rates ranging from 7.75% to 8.47%, with minimum deposits ranging from ₹5,000 to ₹10,000.
NBFC |
Minimum Deposit |
Interest Rate (in p.a.) |
Shriram Finance Limited |
₹5,000 |
8.47% |
Bajaj Finance Limited |
₹15,000 |
8.25% |
Mahindra Finance Limited |
₹5,000 |
8.10% |
PNB Housing Finance Limited |
₹10,000 |
7.75% |
Disclaimer: The above figures are subject to change depending on the NBFC’s policy and investment terms.
Let’s assume you start with a deposit of ₹15,000. Here’s a table showing the maximum rates you get for different tenors, along with the corresponding maturity amount:
NBFC |
Interest Rate (in p.a.) |
Tenor (in months) |
Maturity Amount |
Shriram Finance Limited |
8.47% |
60 |
₹22,523 |
Bajaj Finance Limited |
8.25% |
44 |
₹20,065 |
Mahindra Finance Limited |
8.10% |
60 |
₹22,142 |
PNB Housing Finance Limited |
7.75% |
47 |
₹20,098 |
Disclaimer: The above figures are subject to change depending on the NBFC’s policy and investment terms.
Senior citizens usually get the benefit of higher FD rates. The rate benefits on senior citizen fixed deposit range from 0.20% to 0.50%.
NBFC |
Additional Rate Benefit |
Interest Rate |
Shriram Finance Limited |
0.50% |
8.97% |
Bajaj Finance Limited |
0.25% |
8.50% |
Mahindra Finance Limited |
0.25% |
8.35% |
PNB Housing Finance Limited |
0.20% |
7.95% |
Disclaimer: The above figures are subject to change depending on the NBFC’s policy and investment terms.
If you’re looking to see how these additional rate benefits translate to returns, here’s a table demonstrating the interest rates and maturity amounts for an FD of ₹15,000:
NBFC |
Interest Rate |
Tenor (in months) |
Maturity Amount |
Shriram Finance Limited |
8.97% |
60 |
₹23,047 |
Bajaj Finance Limited |
8.50% |
44 |
₹20,235 |
Mahindra Finance Limited |
8.35% |
60 |
₹22,399 |
PNB Housing Finance Limited |
7.95% |
47 |
₹20,245 |
Disclaimer: The above figures are subject to change depending on the NBFC’s policy and investment terms.
Also Check: FD Interest Rates
Here is a list of the leading NBFCs that offer fixed deposits with lucrative interest rates:
PNB Housing Finance Limited
PNB Housing Finance is a registered housing finance company promoted by the Punjab National Bank. The bank offers an attractive fixed deposit rated AA+/Stable rating by CRISIL and CARE. Check out the interest rates below.
PNB Housing Finance Limited FD Plans |
Interest Rate for 1 Year |
Interest Rate for 3 Years |
Interest Rate for 5 Years |
Cumulative Fixed Deposit |
7.45% |
7.75% |
7.60% |
Non-cumulative Fixed Deposit (Monthly payout) |
7.21% |
7.49% |
7.35% |
Senior Citizen (Non-Cumulative) |
7.51% |
7.69% |
7.55% |
Disclaimer: The above-mentioned interest rates are subject to change.
Mahindra Finance Limited
Mahindra Finance is a trusted vehicle financing company that has also emerged as an investment provider in recent years. The company’s fixed deposit plans carry a rating of IND AAA/Stable, offered by India Ratings. The NBFC interest rates across FD types are as follows.
Mahindra Finance Limited FD Plans |
Interest Rate for 1 Year |
Interest Rate for 3 Years |
Interest Rate for 5 Years |
Cumulative Fixed Deposit |
7.50% |
8.10% |
8.10% |
Non-cumulative Fixed Deposit (Monthly Payout) |
7.10% |
7.55% |
7.55% |
Senior Citizen (Non-Cumulative) |
7.35% |
7.80% |
7.80% |
Disclaimer: The above-mentioned interest rates are subject to change.
Bajaj Finance Limited
India’s most diversified NBFC, Bajaj Finance also offers fixed deposits at attractive interest rates. Fixed deposits from this NBFC have been awarded a safety rating of AAA or Stable by CRISIL and ICRA. So, you can rest assured that your investments will be safe. Check out the NBFC FD rates below.
Bajaj Finance Limited FD Plans |
Interest Rate for 1 Year |
Interest Rate for 3 Years |
Interest Rate for 5 Years |
Cumulative Fixed Deposit |
7.40% |
8.10% |
8.10% |
Non-cumulative Fixed Deposit (Monthly Payout) |
7.16% |
7.81% |
7.81% |
Senior Citizen (Non-Cumulative) |
7.39% |
8.05% |
8.05% |
Disclaimer: The above-mentioned interest rates are subject to change.
Shriram Finance Limited
Fixed deposits from Shriram Finance Limited are yet another option you can consider for high returns and safety. ICRA has rated FDs from this NBFC [ICRA]AA+ (Stable), ensuring safety of your deposit. Check out the table below to know the interest rates.
Shriram Finance Limited FD Plans |
Interest Rate for 1 Year |
Interest Rate for 3 Years |
Interest Rate for 5 Years |
Cumulative Fixed Deposit |
7.59% |
8.38% |
8.47% |
Non-cumulative Fixed Deposit (Monthly Payout) |
7.59% |
8.38% |
8.47% |
Senior Citizen (Non-Cumulative) |
8.09% |
8.88% |
8.97% |
Disclaimer: The above-mentioned interest rates are subject to change.
Features and Benefits of NBFC Fixed Deposits
NBFC FDs are getting popular because of the many attractive benefits they offer. Here are some of them:
Better Returns than FDs Offered by Banks
The NBFC fixed deposit interest rates are typically higher than those offered by banks, allowing you to accumulate more funds
Loan Against FD Facility
During financial emergencies, you can apply for a loan against FD and get up to 90% of the total FD value at nominal interest rates
Guaranteed Returns
NBFC FDs offer assured returns as neither your capital nor the interest earnings are affected by market volatility
Simple and Quick FD Renewal Process
You can easily renew the FD from the comfort of your home by logging into your account on the NBFC website
Regular Income Options
You can opt for a non-cumulative FD and receive your interest income as monthly, quarterly, half-yearly, and annual payouts
Flexible Investment Tenors
You can choose from a wide range of investment tenors, which generally range from 12 months to 120 months
Higher Rates for Senior Citizens
The NBFC FD interest rates for senior citizens are higher than regular FDs, by around 0.50%, offering better returns
While fixed deposits offered by NBFCs are similar to FDs offered by banks, there are a few points of difference between the two. Here is a closer look at how NBFC fixed deposits differ from regular fixed deposits.
Particulars |
Fixed Deposit from Bank |
NBFC Fixed Deposit |
Rate of Interest |
Lower, compared to NBFC FD interest rates |
Higher rates of interest than FDs offered by banks |
Investment Tenor |
Range from 7 days to 10 years |
Range from 1 year to 5 years |
Insurance on the FD |
Insured up to ₹5 Lakhs per account as per the RBI’s regulations |
Do not come with any such insurance coverage. |
Safety |
Generally considered safer |
Varying degrees of risk as indicated by their credit ratings |
Tax Benefits |
Up to ₹1.5 Lakhs per financial year u/s 80C |
No tax benefits |
If you are planning to invest in an NBFC fixed deposit, consider the following tips to maximise your returns.
Compare the NBFC FD rates offered by different issuers to identify the highest returns
Review the lender's credibility to ensure your fixed deposit is safe
Choose deposits that carry AAA ratings, depending on the agency that rated them
Ensure the NBFC you choose offers an easy application process and provides good customer service
Choose the FD tenor wisely to avoid penalty charges for premature withdrawal
Calculate estimated returns to ensure the investments give the desired maturity amount
Other FD Related Pages |
||
FAQs about NBFC Interest Rates
Can I book an FD in an NBFC?
Yes, you can book a fixed deposit in an NBFC, just like a bank fixed deposit.
What is the NBFC interest rate on fixed deposits?
The NBFC FD rates differ from one company to another and can change from time to time. The interest rates are dependent on the FD amount, the investment tenor and the prevailing repo rates. Senior citizens are offered comparatively higher NBFC interest rates on deposits.
Which NBFC gives the highest FD rates?
The FD interest rates vary from time to time based on changes to the current repo rate and the NBFC’s internal policy and regulations. So, when deciding which NBFC gives the best returns on FDs, different NBFCs may hold the top spot at different points in time. You can check out the NBFC offering the highest FD rates by comparing your options online.
How does an NBFC decide the interest rate on fixed deposits?
NBFCs decide the interest rate based on factors like their internal policies, profitability, repo rates, etc. That said, NBFC FD rates cannot exceed the ceiling rate set by the Reserve Bank of India.
What is the current rate of interest offered by NBFC?
The rate of interest on NBFC fixed deposits varies from company to company. They also change based on the tenor and the amount of the deposit made.
Is interest from NBFC fixed deposits taxable?
Yes, the interest you earn from your NBFC fixed deposit is taxable as income from other sources.
Is it safe to invest in an NBFC FD?
Yes, compared to various other market-linked investment options, investing in NBFC fixed deposits provides safe and reliable returns. However, the reliability of the issuer depends on its credit rating. Hence, check out the credibility factor of the NBFC before booking an FD.
Which NBFC is best for fixed deposits?
The NBFC FD rates vary depending on the RBI regulations and internal policies. As such, the best NBFC for FDs are usually those with both high credit ratings and rates. Ideally, compare the interest rates across different NBFCs along with the credit ratings before choosing a specific issuer.
Explore FDs From Our Partners
