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With market volatility on an all-time high, investors have been looking for safer avenues to keep their investments safe. When it comes to looking for safe and steady returns, fixed deposits are one of the most preferred investment avenues. When investing in fixed deposits, investors pick FDs offering higher interest rates. However, it is important to ascertain that your corpus is safe and the lender can pay back your principal along with the interest. This is where credit rating agencies can help you.

A credit rating agency helps you filter through financial companies and their offerings, so you can choose one that is most reliable and trustworthy. CRISIL ratings in India are considered to be one of the ways of assessing an issuer. By checking these ratings, you can gauge whether your chosen FD issuer will be able to pay interest regularly on your fixed deposits and give you accumulated amount at the time of maturity. The higher the credit rating of an investment option, the more credible it is. So, you can must select the one which has the highest CRISIL rating to ensure that you yield assured returns on time.

Here are top 5 financial institutions which have the highest FAAA CRISIL ratings in India.

• Bajaj Finance

Fixed Deposits from Bajaj Finance has CRISIL’s ‘FAAA/stable rating’, which ensures the highest possible safety for your investment by giving you timely payment of interest and principal amount. When you invest in FD with Bajaj Finance, you can earn interest up to 8.75% if you are starting a cumulative FD for at least 36 months and start with a nominal amount of Rs.25,000 and up to 9.10% if you are a senior citizen investing for the same amount of time. You can also avail a flexible tenor from 12 to 60 months as per your financial needs. The online account management system lets you keep track of your interest amount, due dates, and the accumulated amount on your investment with great ease and convenience.

• Mahindra and Mahindra Finance

The Mahindra and Mahindra Finance Fixed Deposit has a CRISIL rating of FAAA and offers considerable returns on the amount invested. The deposits are safe as it is backed by a renowned business house in India and even offers you an accidental cover worth Rs.1 lakh when you invest in its fixed deposit.

• PNB Housing

With the FAAA rating by CRISIL, PNB Housing also has the highest safety assurance on its fixed deposit. Interest rates offered on these fixed deposits are very competitive as it is promoted by Punjab National Bank, a government enterprise. Further, you can open an FD with an amount as low as Rs.1,000, so you can start earning interest even when you begin your career and do not have a large corpus accumulated.

Also, Related Article: Investment Options during a Stock Market Crash

• Gruh Finance

Another company which is rated FAAA by CRISIL, Gruh Finance offers you the ability to invest an amount as low as Rs.1000 for a term ranging from 12 to 120 months. This company offers loans to individuals for purchasing or constructing new houses. HDFC holds approximately 60% of shares in Gruh Finance.

• HDFC Fixed Deposit

HDFC Fixed Deposits are also given the credible AAA rating by CRISIL and the company maintained the rating at the same level for last 23 consecutive years. These FD offer an attractive interest rate and a flexible tenor with applications accepted across their 420 offices. Further, you can avail prompt doorstep assistance to speed your application process.

With these companies offering highly safe FDs, compare the different interest rates on FD available before selecting the one that suits your needs. Apart from the credit rating, you must also see the eligibility and documents needed for opening an FD as well as understand the possibility of getting an affordable Loan against FD and the penalty for premature withdrawal. This will help you choose the best issuer and get an FD that truly satisfies your financial needs.

With the help of CRISIL scores, you can enhance your access to funding, find funding alternatives, optimise costs, and safeguard your investment.