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Who can Give you an 8% FD interest rates? Explore now!

Who can Give you an 8% FD interest rates? Explore now!

Are you looking to invest in a fixed deposit scheme that can give you around 8% fixed deposit interest rate gains?

Yes, there are many reputed online non-banking finance companies or NBFCs that can help you grab more than 8% profits as per your membership status.

As per the Section 58A of the Companies Act, non-banking finance companies or NBFCs are eligible to offer fixed deposit product online.

As a result, you stand to not only gain a good amount of interest on your investment but even a host of other features and benefits when compared to banks.    

These features and benefits include a hassle-free online application process,Apply online today with a leading NBFC and make the most of it. Fixed Deposit Calculator availability to know how much you will earn on your investment over a tenor, tenor flexibility so that you can choose as per your wish, doorstep documents collecting service and beyond.

Fixed Deposit Schemes – Your Passport to Financial Freedom!

Let’s provide you what you can stand to gain if you happen to invest in a fixed deposit scheme of a non-banking finance company (NBFC) as per your membership status.

If you are a New Fixed Deposit Subscriber

If you are a new customer who wants to open an FD account with an online NBFC, you can gain around 7.85% fixed deposit interest rate on a cumulative FD. However, if you opt for a non-cumulative type of FD, your FD interest rate payout will depend on when you want the payment to be given (monthly, quarterly, half-yearly and annually) and the duration.

For example – If you go for a tenor ranging between 3 and 5 years, the rate of interest (cumulative) will be 7.85%. On the other hand, if you opt for the same tenor but choose a non-cumulative FD type, your non-cumulative interest rate will be 7.58%, 7.63%, 7.70% and 7.85% as per monthly, quarterly, half-yearly and annually payout timing.

You can go for a cumulative FD type so that you can avail a larger FD interest rate payment on maturity. Non-cumulative customers will lose out on compounding interest rate benefits, though!  

If you Already have a Loan account with a NBFC Company

If you already have an existing loan account with a NBFC, you can avail the benefits of being previously availing other products and get an additional 0.10% more. It means that you can get 7.95% as your fixed deposit interest rate profits.

If you are Reinvesting or Renewing the FDs

Suppose your existing fixed deposit account with a NBFC is about to mature and if you opt to renew or reinvest your account, you can gain 0.10% more. Example – if you are receiving 7.85% as the fixed deposit interest rate, your new FD interest rate will be 7.95% if you choose to reinvest or renew on maturity.

If you are a Senior Citizen

You should know that being a senior citizen pays you back! How? It’s because senior citizens earn the highest on their fixed deposits. Yes, if you have a senior citizen FD account, you can again a flat 8.10% on maturity of your tenor to an amount of up to Rs.1 crore.

The Bottom Line

Now that you know that non-banking finance companies (NBFCs) can offer you an 8% FD interest rates gains, shop around for the best service provider and apply online.
Saving is indeed a good habit that credits you back and investing your savings in an FD is one of the most beneficial things to do today! All the best!   


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