Fixed deposits or FDs are one of the most popular schemes because of their risk-free nature. But is Hawkins Cookers' fixed deposit worth investing? Check here
The Hawkins Cookers Company's fixed deposit (FD) scheme is available for investing from Tuesday, September 20. The kitchenware firm is offering a minimum tenure of 13 months and a maximum tenure of 36 months under the offer. The interest rates for this fixed deposit scheme vary between 7.5 percent to 8 percent, the company said in a statement.
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Investors can register their interest online at the official website of Hawkins Cookers — www.hawkinscookers.com/fd2022.aspx for the same.
Here are the interest rates of Hawkins fixed deposit scheme:
|Tenure||Interest Rates (p.a.)|
The minimum amount that one has to invest is Rs 25,000.
The rates have remained unchanged from the last year despite RBI hiking the repo rate by 140 basis points (bps) in the past few months.
Should you invest?
The company’s fixed deposit scheme looks attractive because of its higher FD interest rates compared to bank FDs. However, corporate FDs are considered less secure than banks.
Though Bankbazaar says that Hawkins fixed deposit scheme can be a relatively safe investment option since the company has received an MAA (stable) grade from credit rating agency ICRA ltd.
However, before making any investment choices, investors should research the scheme's terms and conditions.
Hawkins Cookers FD is rated AA- (stable) by ICRA. The interest rates on the company’s FD have gradually declined over the last few years, in line with the fall in key lending rates, from 10.5 percent (on 36-month tenor) in 2019, to 9 percent in 2020.