Top-deck non-bank lenders, such as Shriram Transport FinanceTrying to grab a major chunk of household savings, corporate deposit schemes are offering high returns of up to 8.84% amid rising credit demand and moderate liquidity.

Bank relatives are struggling in the race for deposits. The average rates offered by some lenders in specific segments are sometimes lower than sovereign bond Yield.

mortgage lender HDFC, Bajaj FinanceMahindra Finance, ICICI Home Finance And LIC Housing It is one of the triple-A grade NBFCs. They are giving returns in the range of 6.15-7.10% over a maturity period of 1-7 years. Soft conditions are not included in the returns for senior citizens and women receiving additional rewards.

Umesh Revankar, Managing Director, Shriram Transport Finance said, “The biggest advantage of retail deposits is its viscosity which helps us to better manage the asset-liabilities mismatch.” “Prior to the pandemic public retail deposits were costlier than bank loans. Not anymore, which adds to our profits.”

“We will strive to capture more retail deposits while expanding our brand reach, better service and more customization,” he added.