New Delhi, Nov. 14 -- When opening a fixed deposit, it is essential for depositors to compare the interest rates offered by different lenders. This is imperative as a small difference of 50 to 100 basis points over a period of time can lead to a significant difference in savings.

For instance, if you invest Rs.10 lakh for a five-year period and can earn an extra 100 basis points, there would be an extra Rs.50,000 in your bank at the end of this tenor. And if the amount of the fixed deposit is Rs.20 lakh, your extra savings could be as much as Rs.1 lakh.

Let us compare the interest rates offered by top NBFCs in India.

I. LIC Housing Finance: It offers interest in the range of 6.7% to 6.9% per annum for deposits up to Rs.3 crore. Senior ...