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Senior citizen fixed deposit rates: What are 4 NBFCs offering in July 2026?
4 min read | Updated on July 03, 2026, 16:53 IST
SUMMARY
Even though NBFC fixed deposits offer a relatively higher interest rate than bank fixed deposits, investors should be mindful of the NBFC’s credit rating.
NBFC fixed deposits, unlike bank deposits, are not covered by thr DICGC insurance. | Image: Shutterstock
NBFC fixed deposits are deposit schemes offered by non-banking financial companies (NBFCs). This investment instrument, similar to bank fixed or term deposits, allows investors to invest a lump sum amount for a fixed tenure and, in return, earn interest income.
Depending on the scheme, investors can receive interest either at maturity or at chosen intervals such as monthly, quarterly, half-yearly, or annually.
Here are the fixed deposit rates offered by four NBFCs as of July 3, 2026:
- Muthoot Capital: Under the cumulative option, the NBFC offers the highest interest rate of 8.95% per annum for a three-year tenure. For other tenures, the FD rate ranges between 7.9% and 8.75%. The minimum amount required to book the FD is ₹1,000. Senior citizens get an additional interest rate of 0.25%.
Under the monthly income option, the NBFC offers the highest interest rate of 8.6% for a four-year deposit. Similarly, under the annual interest pay-out option, the highest rate is 9.1% for a three-year deposit. Thus, the maximum interest rate on Muthoot Capital fixed deposits is 9.35% for senior citizens.
- Shriram Finance: The NBFC is offering the highest interest rate of 7.5% on deposits with a tenure of 36-60 months under both the cumulative and non-cumulative (yearly option) deposit schemes. Senior citizens receive an additional interest rate of 0.5% per annum, while women depositors get an additional 0.05%.
| Period (Months) | Monthly % p.a. | Quarterly % p.a. | Half-Yearly % p.a. | Yearly % p.a. | At Maturity % p.a. |
|---|---|---|---|---|---|
| 12 | 6.64 | 6.68 | 6.74 | 6.85 | 6.85 |
| 15 (Digital Only) | 6.88 | 6.92 | 6.98 | 7.10 | 7.10 |
| 18–23 | 6.83 | 6.87 | 6.93 | 7.05 | 7.05 |
| 24–35 | 6.88 | 6.92 | 6.98 | 7.10 | 7.10 |
| 36–60 | 7.25 | 7.30 | 7.36 | 7.50 | 7.50 |
The minimum deposit amount for a Shriram Finance FD is ₹5,000. The deposits are rated CARE AAA (Stable) by Care Ratings, CRISIL AAA/Stable by CRISIL Ratings, ICRA AAA (Stable) by ICRA, and IND AAA/Stable by India Ratings.
- Bajaj Finance: On deposits of ₹15,000 to ₹3 crore, investors can earn an interest rate of up to 7.4% per annum. The NBFC's fixed deposits are rated CRISIL AAA/Stable and ICRA AAA (Stable). Senior citizens receive an additional interest rate of 0.35%.
| Period (Months) | At Maturity % p.a. |
|---|---|
| 12–17 | 6.60 |
| 18–30 | 6.85 |
| 31–60 | 7.40 |
- PNB Housing Finance: The NBFC is offering the highest interest rate of 7.25% under the cumulative option. Under the non-cumulative option, it is also offering a maximum interest rate of 7.25% per annum under the annual interest payout option. Senior citizens are eligible for an additional 0.25% interest rate.
| Tenure (Months) | Cumulative Option ROI (p.a.) | Non-Cumulative Monthly | Non-Cumulative Quarterly | Non-Cumulative Half-Yearly | Non-Cumulative Annual |
|---|---|---|---|---|---|
| 12–23 | 6.70% | 6.50% | 6.54% | 6.59% | 6.70% |
| 24–35 | 6.85% | 6.64% | 6.68% | 6.73% | 6.85% |
| 36–47 | 7.10% | 6.88% | 6.92% | 6.98% | 7.10% |
| 48–59 | 7.10% | 6.88% | 6.92% | 6.98% | 7.10% |
| 60 | 7.25% | 7.02% | 7.06% | 7.12% | 7.25% |
The housing finance company is also offering special tenure scheme deposit plans for 22 and 40 months. The limited time-period offer is available from May 15, 2026 to August 31, 2026.
Even though NBFC fixed deposits offer a relatively higher interest rate than bank fixed deposits, investors should be mindful of the NBFC’s credit rating. Issuers with a higher rating are generally safer. Also, note that these NBFC fixed deposits, unlike bank deposits, are not covered by thr DICGC insurance.
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