NBFCs That Offer 10% Interest on Fixed Deposits

Highlights

  • Want double digit returns on fixed deposits? Choose from Hawkins Cooker, M&M fixed deposit schemes
  • Minimum deposit amount and tenure should also be considered

Make hay while the sun shines. The say fits aptly to fixed deposit market whose weak sentiments seem to be a thing of the past with returns starting to tread the upward territory. The latest is that the leading pressure cooker manufacturer Hawkins Cookers Ltd has launched a new fixed deposit scheme offering interest to the tune of 10.75% per annum for a 36-month deposit. The effective yield, which adds on to the interest rate offered, goes up to 11.30% p.a. The minimum deposit amount needed to earn such interest is ₹25,000.

At a time when banks are offering returns of 6%-8%, the news of double-digit returns is a sheer welcome for all those wanting the assurance of capital as well as good returns over a period of time. Even though Hawkins may be offering the highest, there are some more non-banking financial companies (NBFCs) that give double-digit returns on fixed deposits. Want to know which are they? Keep reading.

10% Fixed Deposit Interest Rates of NBFCs

A fine list of NBFCs with double-digit returns is shown in the table below.

NBFCsFixed Deposit SchemeEffective Yield Applicable (In Per Annum)Minimum Deposit Needed (In ₹)Minimum Deposit Tenure Needed to Yield Double-digit Return
Hawkins Cookers LtdHawkins Cookers Fixed Deposit Scheme11.30%250003 Years
Mahindra & Mahindra Financial Services LimitedSamruddhi Cumulative Scheme10.07% (Normal)

10.32% (Senior Citizens)
50005 Years
Shriram City Union FinanceCumulative Deposit10.42% (Normal)

10.77% (Senior Citizens
50005 Years
KTDFC LtdKTDFC Fixed Deposit Scheme10.17% (Senior Citizen)100005 Years

To be investing and to be investing for the future are two different things altogether. Well, the latter would grab your attention, isn’t it? Your future is in good hands when there’s an assurance of getting back the capital invested, along with reasonably good returns to withstand the inflation prevailing in the market.

People Also Look For  5 Years Fixed Deposits: Tax Benefits & Higher Returns

And, if you are ears to economic developments doing the rounds, you must know the consumer price-based inflation is hovering around 3.70%-4.20% mark. So, your fixed deposit investments must at least fetch a return of 7%-10% to counter the inflation better. Let’s check out the banks and NBFCs that deliver such returns to the depositors.

List of Banks/NBFCs Offering 7%-10% Return on Fixed Deposits

Check out the list of the banks, NBFCs and small finance banks offering 7%-10% fixed deposit interest rates, in the table below.

Banks/NBFCsInterest Rate/Effective Yield (In Per Annum)Minimum Deposit Needed (In ₹)Maximum Deposit Needed(In ₹)Minimum Deposit Tenure Required
State Bank of India (SBI)7.20%-7.35% (Senior Citizens)As ApplicableAbove 10 Crores1 - 10 Years
HDFC Bank7.00%-7.40% (Normal)

7.20%-7.90% (Senior Citizens)
5000Greater Than Equal to 5 Crores9 Months 1 Day - 10 Years
ICICI Bank7.00-7.95%10000Greater Than Equal to 500 Crores61 Days - 10 Years
Axis Bank7.00-7.70% (Normal)

7.25%-8.10% (Senior Citizens)
5000100 Crores and Above6 Months - 10 Years
Kotak Mahindra Bank7.00%-7.90% 500025 Crores and Above180 Days - 2 Years
IndusInd Bank7.00%-8.50%1000Less Than 5 Crores270 Days - Less Than 61 Months
YES Bank7.00%-7.71% (Normal)

7.50%-8.24% (Senior Citizens)
10000Less Than 1 Crore46 Days - 18 Months 18 Days
Canara Bank7.00%-7.29% (Normal)

7.20%-7.82% (Senior Citizens)
5,00,000Less Than 1 Crore1 Year - 555 Days
DHFL7.85%-8.75% (Normal)

8.25%-9.15% (Senior Citizens, Defence Personnel, Widows, as well as home loan, mortgage loan and SME loan customers of DHFL)
5000Up to 5 Crores1 Year
Bajaj Finserv7.35%-8.40% (Normal)

7.60%-8.65% (Employees or customers of fixed deposits and loans of Bajaj Group)

7.70%-8.75% (Senior Citizens)
25000As Applicable1 Year
Sundaram Finance7.45%-7.75% (Normal)

7.95%-8.25% (Senior Citizens)
10000As Applicable1 Year
Bandhan Bank7.40% (Normal)

8.15% (Senior Citizen)
1,000As ApplicableMore Than 18 Months - Less Than 1 Year
RBL Bank7.00%-7.98% (Normal)

7.50%-8.51% (Senior Citizen)
As ApplicableUp to 3 Crores46 Days - Less Than 36 Months
IDFC Bank7.00%-8.25% (Normal)

7.50%-8.75% (Senior Citizen)
As ApplicableLess Than 1 Crore181 Days - 5 Years
Fincare Small Finance Bank7.00%-9.00% (Normal)

7.50%-9.50% (Senior Citizen)
1,000-5,000Less Than 1 Crore181 Days - 36 Months
Utkarsh Small Finance Bank7.00%-9.00% (Normal)

7.50%-9.50% (Senior Citizen)
1,000Less Than 1 Crore211 Days - Less Than 2 Years But More Than 455 Days
ESAF Small Finance Bank7.50%-8.75% (Normal)

8.00%-9.25% (Senior Citizen)
1,000Less Than 1 Crore180 Days - 727 Days
Jana Small Finance Bank7.00%-8.50% (Normal)1,000Less Than 1 Crore61 Days - More Than 2 Years to Up to 3 Years
Ujjivan Small Finance Bank7.50%-8.50% (Normal)

8.00%-9.00% (Senior Citizen)
1,000Less Than 1 Crore180 Days - 799 Days
Suryoday Small Finance Bank7.50%-9.31% (Normal)

8.00%-9.84% (Senior Citizen)
1,000Less Than 1 Crore181 Days - 950 Days
People Also Look For  Post Office Monthly Income Scheme (MIS) Account

Personal Loan Interest Rates October 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.50%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank11.50% - 14.50%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates October 2018
State Bank of India/SBI8.70% - 9.25%
HDFC8.80% - 9.60%
Bank of Baroda8.55% - 9.55%
LIC Housing8.70% - 9.05%
PNB Housing Finance9.00% - 13.00%
ICICI Bank8.85% - 9.10%
Axis Bank8.80% - 9.05%
Citibank8.90% - 9.65%
Indiabulls Housing Finance Limited8.80% - 11.05%
Kotak Bank8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 10.00%
EMI Calculator