Non-Banking Financial Companies (NBFCs) have revised their special term FD schemes for 44 months from January 20, 2023, with an interest rate of 8.1% for senior citizens. For other categories of consumers, the FD rate is 7.85%.

• Larsen and Toubro Subsidiary Plans to Sell Nabha Power for Rs 3,661 Crore 
• Singapore Flights to Cost More Over SAF Levy
• Anthropic Opens Bengaluru Office, Expands India Partnerships
• Bill Gates Meets N. Chandrababu Naidu Ahead of AI Summit
• Arkade Developers Shares Gain 1% on Project in Mumbai 

FD is rated AAA by CRISIL and ICRA. The company offers FD rates for special terms of 15, 18, 22, 30, 39 and 44 months.

Seniors will earn 7.4% interest on accumulated FD for 12-14 months, while 15-month special FD will earn 7.55%, and 22-month special FD will earn 7.7%. The company allows you to initiate FDs ranging from 12 months to 60 months.

Savers can deposit up to Rs 15,000-50 crore for the revised interest rate. However, it will help if you also consider several factors before looking to earn higher returns on your deposit.

However, risk-averse savers should look for further rate hikes in the current circumstances before investing in FDs. You can choose a shorter FD deposit term.