Fixed deposits aren’t the most secure avenues for investing your hard-earned money. There have been numerous instances in the past of companies defaulting on interests and even principal payments. As such, the need for reputed agencies providing ratings to various fixed deposit products available in India becomes imperative. Major among such agencies are Credit Analysis and Research Limited (CARE), Investment Information and Credit Rating Agency (ICRA), and Credit Rating Information Services of India Limited (CRISIL).

CRISIL Rating 2015
       CRISIL Rating 2015

Each of these agencies provides different ratings namely CARE ratings, CRISIL ratings and ICRA ratings. These ratings are highly sought-after and provide unbiased safety and security assessment of fixed deposit products. According to assessment from these agencies, the following fixed deposit providers are the best bet right now in India:


HDFC Bank fixed deposits have the highest ratings of safety from both ICRA and CRISIL. Rated as AAA, the bank has been given the top rating for 19 years straight now. Customers of Platinum FD Scheme from HDFC Bank can currently avail cumulative interest rate of 9.50% for tenures of 15, 22, and 33 months.

Sundaram Finance

Given a rating of MAAA by ICRA, Sundaram Finance is another good option for opening fixed deposits. It currently offers 9.25% cumulative rate of interest for tenures of 12 and 18 months, while this figure stands at 9.50% for 24 and 36 months tenures.

Fixed depositMahindra and Mahindra Finance

Rated as FAAA by CRISIL, Mahindra and Mahindra Finance provides fixed deposit schemes with high yields and security. Customers can expect more than 11% yield on 36 month FDs, while close to 11.50% yield can be earned for 60 month FDs.

PNB Housing Finance Ltd

With a CRISIL rating of FAAA, PNB HFL fixed deposit with high safety and secure schemes. Present interest rate is 9.50% for all tenures ranging from 12 months to 60 months.

LIC Housing

Also rated as FAAA, LIC Housing offers fixed deposit schemes with interest rates ranging from 9.3% to 9.6% according to selected tenure.

Bajaj Finserv

Given a CRISIL rating of FAAA, Bajaj Finserv fixed deposits offer very high safety of receiving periodic interest payments as well as principal amounts. With the cumulative interest rate scheme, customers can receive rate of interests up to 9.75% for 15 month FD tenure.

Gruh Finance

Another FAAA rated company, Gruh Finance provides interest rates within 9% and 9.50%. It is a subsidiary of HDFC Bank and so the deposits come with an added layer of security.

These 7 represent only a handful of fixed deposit schemes available in the market. You are advised to check for rates with the respective banks or online to keep up-to-date with any changes. Also, if you need more criteria before deciding upon a fixed deposit plan, you can use various aggregator websites which give you the option for comparing products and providers side-by-side.

Finally, fixed deposits are your best bet to watch the investment grow but in a secured way, if you are careful with your choice.


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