What is Corporate FD
Corporate Fixed Deposit plan is also a type of FD plan. Corporate FDs are provided by non-banking firms. These NBFCs include housing finance firms and personal finance firms. These companies raise money from the public in this way.
How much interest are Shriram City Union Finance and Shriram Transport Finance Corporation paying on fixed deposits up to Rs 5 crore?
General public on 12-month FD – 6.50 percent interest, for senior citizens the interest rate will be 7 percent
General public will get 6.75 percent interest on 15-month FD, senior citizens will get 7.25 percent interest
General public will get 6.75 percent interest on 24-month FD and 7.25 percent interest to senior citizens.
On 30-month FD, the general public will get 7.75 percent and senior citizens will get 8.25 percent interest rate.
The general public will get 7.75 percent interest on FD of 36 months, then this interest rate will be 8.25 percent for senior citizens.
The general public will get 7.80 percent interest on 45-month FD, then the same interest rate for senior citizens will be 8.30 percent.
The general public will get 7.90 percent interest on 60 months FD, then it will be 8.40 percent for senior citizens.
How much interest are banks paying?
Public sector Punjab National Bank is giving an interest of 3.00-5.25 percent on fixed deposits. The interest rate on FD in IDFC First Bank ranges from 3.50 to 6.00 percent. In private sector HDFC Bank, this rate is between 2.50-6.00 percent. All these interest rates are for deposits of less than Rs 2 crore.