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Investment Guide
How SIP Returns Helps in Meeting Your Long-Term Goals
Top Corporate Fixed Deposit Schemes
| Corporate FD scheme | Rating | Tenure | Safety | Amount | Interest rate |
|---|---|---|---|---|---|
| Mahindra Finance FD | CRISIL FAAA | 1-5 years | Highest | Rs. 5,000 to 5 crores | 7.20% - 8.05% p.a. |
| Shriram Finance Limited FD | ICRA AA+ | 1-5 years | High | Rs. 25,000 to 5 crores | 7.59% - 8.80% p.a. |
| PNB Housing Finance FD | CARE FAA+ | 1-10 years | High | Rs. 20,000 to 5 crores | 6.79% - 7.70% p.a. |
| ICICI Home Finance FD | ICRA MAAA | 1-10 years | Highest | Rs. 5,000 to 2 crores | 6.80% - 7.60% p.a. |
| LIC Housing Finance FD | CRISIL FAAA | 1-5 years | Highest | Rs. 20,000 to 20 crores | 6.80% - 7.50% p.a. |
Benefits of Company Fixed Deposit
Higher and Fixed Returns
Deposit starts at just ₹5000
Flexible Tenure of 1 to 5 Years
Senior citizens can earn an extra 0.25%
How does Corporate Fixed Deposits Works?
Create, update and activate your Moneyfy CFD Account
Choose the tenure you want to invest for and start investing in one simple click
View & track your Corporate FD. You can also withdraw before maturity!
Eligibility Criteria for Corporate/Company FD
The following groups are eligible to invest in a corporate FD:
Indian residents
Non-Resident Indians (NRIs)
Hindu Undivided Families (HUFs)
Clubs
Schools and other educational institutions
Partnership firms
Cooperative organisations
Companies
Associations
Societies
Documents Required for Corporate FD
To open a corporate FD account, you need to submit a few documents. While specific documentation can vary from one financial institution to another, the general requirements are as follows-
- Identity documents (Voter ID card/ Passport/ Ration card/ Aadhaar card/ Driver license)
- PAN card
- Valid employee’s ID
- Government validated address proof
- 2 colour passport-sized photographs
Tips for Choosing a Corporate FD
Before investing in a corporate FD, consider the following factors to pick the best scheme for your financial needs-
- Credit rating: Choose a high-rated corporate FD based on the credit rating as a high rating indicates low risk of the company.
- Repayment history: Make sure to evaluate the company’s repayment history as it will help determine the company’s credit score, stability, and credibility.
- Company Background: It is important to assess a company’s financial background and stability by referring to its financial statements or Management Discussion and Analysis.
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FAQs on Corporate FD
view allWhat is a Corporate Fixed Deposit and how it is different from bank FDs?
FDs are normally a fixed deposit and a saving instrument, which gives a higher rate of interest than a regular savings account.
Regular Fixed Deposits are offered by banks, while Corporate Fixed Deposits are offered by NBFCs. They carry a slightly higher risk with a much better return than Bank FDs.
What are the key parameters to be checked before investing in Company FD?
Credit Rating: Opt for higher-rated corporate FDs based on its credit rating which indicates the underlying risk of the company.
Company Background: Assess a company’s business viability by referring to its Financial Statements, Management Discussion, and Analysis (MD & A).
Repayment History: Companies’ repayment history helps to determine the company’s credit score, credibility, and stability.
Risk profile: Make sure that the company you pick is financially healthy and helps you rule out any default risk during the fixed deposit period.
Terms of FD: A cumulative scheme could be better than a regular income option as the interest earned gets invested in other avenues. At the end of the day, you’ll have a lump-sum amount in your hands. But not if you’re looking for a regular income from the FD.
What is the difference between a non-cumulative deposit and a cumulative deposit? (interest pay out and interest on maturity)
Cumulative deposit: The interest gets accumulated and is paid upon maturity along with the principal. It is reinvested every year until maturity. This option gives you the benefit of compound interest for wealth creation.
Non-cumulative deposit: You can opt for a monthly, quarterly, half -yearly or yearly interest pay-out in this scheme as chosen by the depositor. It will be convenient for pensioners or anyone who require a periodical interest payment.
If parents for the minor are not alive, then who is to be deemed as the guardian?
Only the person(s) who have been appointed as guardian(s) by the competent court should sign the application. A copy of the court order has to be submitted to us.
Can a deposit be made in the name of minor alone?
- Yes. You can make a deposit in the name of minor provided such minor is represented by his natural or legal guardian and the application form for the deposit is signed by the natural/legal guardian, on behalf of the minor. All communication in relation to the deposit shall be addressed to the guardian.
Can a power of the Attorney (POA) holder sign the deposit application form?
- Yes. A copy of the Power Of Attorney is to be obtained and filled by the depositor.
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