New Delhi. Due to the new variant of Corona, Omicron, apprehensions about the country’s economy have started increasing again. This will also have an effect on the interest earned on the deposited capital.
Not only private banks, but public sector banks are also able to give interest up to a maximum of 5.5 percent. In such a situation, people are looking for such options of investment tips for financial security, where high return investment is being given.
Those who want safe returns with low risk, they invest money in fixed deposits (Bank / PO Fixed Deposit) of banks and post offices. However, the interest rates here are quite low. In such a situation, a large number of people are investing money in FDs of companies, where the maximum interest is getting up to 7.48 percent. At present, many housing finance companies are giving annual interest ranging from 5.75 to 7.48 percent on FDs.
Freedom to choose deposit tenure with guarantee
According to bankbazaar.com, company or corporate FDs are fixed deposit schemes like bank FDs. The top rated company FD guarantees assured returns and also offers flexible options to choose the deposit tenure. Their biggest attraction is getting more interest than bank rates. The tenure of company FD can be from 12 months to 120 months.
Must see rating before investing money
Before investing money in company FD, investors must pay attention to the rating. Sometimes low rated companies pay higher interest on FDs, but they can be risky. Investors should choose companies after looking at AAA, AA and AA+ ratings while investing in company FDs. Rating agencies like CRISIL, ICRA (ICRA), CARE (CARE) rating these FDs.
Higher interest to senior citizens
According to bankbazaar.com, all companies pay 0.25 percent more interest on FDs for senior citizens. However, Shriram City Union and Shriram Transport Senior Citizen pay 0.40 per cent higher interest to such depositors. In Sundaram Home Finance and Sundaram Finance, he gets 0.50 percent more interest on the company.
