THESE 6 NBFCs offer up to 9.10% interest on fixed deposits — check the list
At the time of opening a fixed deposit with an NBFC (Non-Banking Financial Corporation), it is advisable for depositors to compare the interest rates offered by different institutions. Typically, NBFCs offer slightly higher interest rates on their term deposits than what the banks offer.
An FD can be opened by a resident Indian citizen, NRI, HUF, public or private firm, company or other entities like association of persons. Here we give a lowdown on FD interest rates offered by the NBFCs
I. ICICI Home Finance: This NBFC offers 7.65 percent (yearly income plan) on 39-month and 45-month tenure deposits. These rates came into force on May 19, 2025.
Early withdrawal: In case of an emergency, one can withdraw the deposit prematurely but only after paying a minimal fee. However, there is no premature withdrawal allowed in the first 3 months of deposit.
The minimum deposit amount for opening an FD could be ₹ 10,000 (annual/cumulative income plan), ₹ 20,000 (quarterly income plan) and ₹ 40,000 (monthly income plan).
II. Bajaj Finserv: Bajaj Finserv offers interest up to 7.30 percent per annum to senior citizens and 6.95 percent to regular citizens on tenure between 12-60 months. The deposit amount should be more than ₹ 15,000.
III. Muthoot Capital: FD with Muthoot Capital offers interest of 7.90 percent on 12-month deposit, 8.70 percent on 24-month deposit, 9.10 percent on 36-month deposit, 8.90 percent on 48-month deposit and 8.90 percent on 60-month deposit (annual scheme). NBFC Interest (%) Tenure (months) ICICI Home Finance 7.65 percent 39,45 Bajaj Finserv 7.30 percent* 12-60 Muthoot Capital 9.10 percent 36 Shriram Finance 8.90 percent* 36, 50, 60 Sundaram Finance 8 percent* 24, 36 PNB Housing Finance 7.5 percent 60
(Source: Company websites; *For senior citizens)
IV. Shriram Finance: Shriram finance offers maximum interest of 8.40 percent to depositors. Women depositors are offered an extra 10 basis points and senior citizens are given an extra 50 basis points. So, overall depositors can earn up to 9 percent per annum.
V. Sundaram Finance: Sundaram Finance offers up to 8 percent to senior citizens and 7.50 percent to regular citizens on fixed deposits on tenure of 24 and 36 months. These rates came into force on May 1, 2025.
On a tenure of 12 months, the NBFC offers 7.20 percent and 7.70 percent to regular and senior citizens, respectively. The minimum deposit is ₹ 10,000.
VI. PNB Housing Finance: This institution offers up to 7.50 percent per annum on a 60-month fixed deposit.
For all personal finance updates, visit here
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hindu
39 minutes ago
- The Hindu
Cognizant to invest $183 million for new India campus, add 8,000 jobs
Software services firm Cognizant Technology Solutions will invest ₹15.82 billion ($182.76 million) to build a new campus in the southern Indian city of Vishakapatanam that will create about 8,000 jobs, the State Government announced on Friday (June 20, 2025). Commercial operations will begin in March 2029, an Andhra Pradesh Government press release said. Cognizant did not immediately respond to a request for comment. The announcement comes just months after India's top IT firm, Tata Consultancy Services, unveiled plans for ₹13.70 billion campus in the same city, and is expected generate 12,000 jobs. The move aligns with Cognizant's strategy to optimise real estate costs. In May 2023, Chief Executive Ravi Kumar S. said the company would relinquish 11 million square feet of office space globally, mainly in India's largest cities, while investing in tier-2 Indian cities. Globally, IT companies, including those in India's $283 billion sector, are taking cost-cutting measures such as monetising real estate assets and delaying wage increases amid demand uncertainty. Last month, the Teaneck, New Jersey-based company raised its annual revenue forecast and beat first-quarter results driven by increased demand for AI-powered IT services. Cognizant expects 2025 annual revenue between $20.5 billion and $21.0 billion, compared to previous outlook of the midpoint of $20.30 billion to $20.80 billion. ($1 = 86.5625 Indian rupees)
The Hindu
an hour ago
- The Hindu
Lighting the spark in U.K.-India cultural relations
May was a month of magical bonanza for United Kingdom-India relations. The long-anticipated Free Trade Agreement was ratified by both Prime Ministers, and it was another milestone that illuminated a different but equally significant dimension of their partnership: culture. On May 2, U.K. Secretary of State for Culture, Rt Hon Lisa Nandy, and India's Minister for Culture, Gajendra Singh Shekhawat, signed the Programme of Cultural Cooperation (POCC). This landmark agreement promises to light up the cultural corridor between the two nations, reaffirming their shared creative spirit. The POCC outlines five programme areas: digital technologies for culture, exhibitions and collections, performances and events, cultural property, and sustainability. These themes directly support the creative economy, a core sector driving the U.K. government's industrial strategy. This agreement signals a shared commitment to cross-cultural collaboration and economic growth. Before arriving in Delhi to sign the POCC, Ms. Nandy, the first Labour Cabinet Minister of Indian heritage, was the highest-ranking international delegate at the World Audio Visual & Entertainment Summit (WAVES) Summit, held in Mumbai. In her keynote, she powerfully highlighted the collaborative potential of the India-U.K. cultural and creative industries, sustainable by nature and an employment multiplier. The growth of the creative arts sector Globally, the creative arts sector is rapidly growing, projected to reach 10% of global GDP by 2030. At the G-20 New Delhi Leaders' Summit in 2023, global leaders unanimously called for greater investment in the sector. India hosting WAVES for the first time underscored its commitment, resulting in significant business deals and international agreements. The POCC between India and the U.K. builds on this momentum. It brings together the Indian Ministry of Culture, the U.K. government's Department for Digital, Culture, Media & Sport and the British Council in India, alongside major U.K. cultural institutions — including Arts Council England, the British Library, the British Museum, the Natural History Museum, and the Science Museum Group. With over 1,700 accredited museums in the U.K., the scope for partnerships with their Indian counterparts is tremendous, especially around leveraging digital technology for sharing cultural experiences and heritage. At its core, the POCC signals hope: the creative economy can foster a more inclusive future, encompassing tech-driven sectors such as gaming, digital content, film, OTT, television and more — creating opportunities for skilled workers and innovators. That is great news for India. With its deep cultural heritage, cutting-edge technology, skilled artisan base, and the world's largest youth population, India is uniquely positioned to lead. India's creative economy, valued at $35 billion, employs nearly 8% of its workforce, second only to agriculture. According to the Asian Development Bank's report (2022), 'Creative India: Tapping the Full Potential', six of India's top 10 creative hubs — from Badgam in Jammu and Kashmir to Tiruppur in Tamil Nadu — are in non-metro regions. This shows India's diverse cultural heritage. India, with over 300 universities and 3,000 colleges offering courses in design, arts, and architecture, is nurturing a global creative workforce. A role for the U.K. In 2023, during India's G-20 presidency, the U.K. played a pivotal role in supporting the cultural agenda. Artistic partnerships, creative project grants, and year-long cultural exchanges, such as Wales in India, which culminated at the 2024 Hornbill Festival in Nagaland, furthered that agenda bilaterally, redefining India-U.K. cultural ties and building lasting bonds. Why do these global partnerships matter so much? First, the creative economy is evolving rapidly. It faces challenges including skilled labour shortage. To meet this, we need sustained investment in education, vocational training and apprenticeships. International collaborations can help empower creative professionals with global competencies and best practices. Second, emerging technologies such as Artificial Intelligence and augmented reality and virtual reality (AR/VR) are transforming the sector. As the British Council's recent report, Arts and Technologies in India: Reimagining the Future argues, it is time to integrate it into India's creative education framework. Cultural exchange and cross-border partnerships can support professionals in navigating this digital shift. India's creative canvas is expanding, driven by cultural wealth, youth potential, and a bold vision. Prime Minister Narendra Modi envisions India as a global creative hub — and with a three-pronged approach focused on education, skills, and international collaboration, we are well on our way. But it will require sustained cooperation between government, industry and academia to make that vision a reality. Businesses and projects Indian companies, too, are doing their bit. Take Royal Enfield, the iconic U.K.-India motorcycle brand, which is working in the Himalayas through its Social Mission. In partnership with UNESCO, it is helping to safeguard intangible cultural heritage and working with over 580 artisans through its textile conservation project, The Himalayan Knot. This initiative not only preserves sustainable textile traditions but also creates new market linkages for craft communities. Ms. Nandy heard this story first hand at the reception hosted in her honour by British High Commissioner Lindy Cameron and this writer in Delhi, where the Serendipity Arts Festival's Birmingham chapter was also launched — a moving reminder of how businesses can be storytellers too. What truly binds the U.K. and India together are their people and their stories. In a world grappling with conflict and uncertainty, culture and creativity remain among the most time-tested healers of relations between people and nations. And in that, we have every reason to celebrate — and invest in — the creative spark that unites us. Alison Barrett, MBE, is the Country Director India at the British Council
News18
an hour ago
- News18
Indian Hockey Players To Get A Monthly Stipend From Sports Ministry
Last Updated: Indian hockey players selected for national camps will receive a Rs 25,000 monthly allowance. The decision, costing Rs 20 lakh per month, was approved by the sports ministry. For the first time, Indian hockey players selected for the men's and women's national camps will receive a Rs 25,000 monthly out-of-pocket allowance, a decision sanctioned by the sports ministry after consistent requests from the sport's governing body. Eighty players (40 men and 40 women) are set to benefit from this allowance, which is extended to athletes in the developmental group of the Target Olympic Podium Scheme. The decision was made during the Mission Olympic Cell's monthly meeting on Thursday. This allowance will cost the government Rs 20 lakh per month, while core group athletes receive Rs 50,000 per month. 'The allowance was being requested by Hockey India for some time, and we have decided to accept the demand. The players have performed reasonably well, and it is on merit," Sports Minister Mansukh Mandaviya informed reporters in an informal interaction. Hockey India will need to submit a list of players every month to facilitate the disbursement of funds. 'The list will consider form and fitness, and names might change depending on these factors," a sports ministry source explained. Currently, hockey players earn salaries from their respective departments and organisations, although a proposal for a graded contract system by Hockey India has been under consideration for the past few years. Their additional source of income comes from prize money for strong international performances in events like the Olympics and the Asian Games. The men's team has secured two consecutive bronze medals in the 2021 Tokyo Olympics and the subsequent Paris Games last year. The women's team finished fourth in Tokyo but did not qualify for the Paris event. Both teams are currently competing in the FIH Pro League's European leg, where the results have not been particularly encouraging so far. The MOC also approved financial proposals amounting to Rs 4.28 crore during the meeting. A significant portion of the funds — Rs 1.38 crore — will be allocated to tennis players such as Saketh Myneni, Jeevan Nedunchezhiyan, and three women players. 'Several proposals for assistance from para-athletes were also approved. Additionally, a few additions were made to the TOPS developmental group. The core group remains unchanged for now," a Sports Authority of India (SAI) official stated. The ministry has also decided to enhance its talent identification process with an app that will allow talented youngsters to upload their performances for evaluation by regional talent identification panels of the SAI. 'If found promising at first glance, the youngster will be invited to Khelo India Regional Centres where their potential will be assessed. This will broaden our talent identification mechanism, which is currently limited to age group competitions," Mandaviya said. 'It will ensure that we can reach the remotest corners of the country to find promising athletes. This is all part of the National Sports Repository System," he added. With PTI inputs.
