New Corporate FDs

Gruh Finance
Gruh Finance is offering fixed deposits for tenures of 15, 18, 21, 30 and 33 months at 9%, 9.25%, 9.50%, 9.75% and 10% respectively, if you opt to receive interest annually. The minimum amount of investment is Rs2,000, with multiples of Rs1,000 beyond that. Gruh Finance, a housing finance provider focused on the rural and semi-urban sector, is AAA-rated by CRISIL and ICRA. Although it represents a sound investment option, interest rate offered isn’t so high as to take additional risk by choosing the investment over bank fixed deposits.

Sundaram Finance
The company has revised its interest rates recently and deposits are currently open for 12, 18, 24 and 36 months for amounts of Rs10,000 with multiples of Rs1,000 thereafter. These deposits are rated MAAA / Stable by ICRA. The rate of interest offered for senior citizens is 9.25%for the 12- and 18-month deposits and 9.50%for the 2- and 3-year deposits. Senior citizens get a bonus of 50bps on all tenures. Although it represents a sound investment option, the interest rate offered isn’t so high as to take additional risk on choosing the investment over bank fixed deposits.

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Corporate Bonds

Corporate bond yields have risen on cue from 10-year government bond benchmark yield. Yield on top-rated corporate bonds, especially the AAA-rated, safest, corporate bonds, has risen since June. These are attractive options for those seeking yields higher than on bank deposits and, yet, want safety of principal.

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The Benchmark Yield this Fortnight

Yields on 10-year benchmark government securities have been rising after the announcement of rise in wholesale price index (WPI) to 5.79% in July, up from 4.86% in June. The rise in bond yields was also due to the rise in the US Treasury yields, which added to bearish sentiments. Since RBI is left with limited policy options due to currency risks, growth in FY '14 may slip downwards, if the same trend continues.
 

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