Consultation For Your Financial Freedom
Company Fixed Deposits are deposits made with businesses by investors for a set period at a set interest rate. Such deposits are also accepted by financial institutions and Non-Banking Finance Companies (NBFCs). Interest rates on corporate fixed deposits (FDs) provided by Housing Finance Companies (HFCs) and Non-Banking Financial Companies (NBFCs) are greater than those on bank FDs, particularly those offered by large private sector banks and public sector banks.
Corporate FDs, in contrast to FDs created with scheduled banks, are not covered by the insurance provided by the Deposit Insurance and Credit Guarantee Corporation (DICGC), a division of the RBI. Therefore, when choosing corporate FDs, depositors should carefully consider the ratings given by reputable rating organizations. Corporate FDs having higher ratings can be considered to carry lower chances of defaults in principal and interest repayments.
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