Company Fixed Deposit or Corporate FD is a term deposit which is held over a fixed period at fixed rates of interest which are offered by Financial and Non-Banking Financial Companies (NBFCs). Such deposits, issued by Housing Finance Companies (HFCs) / Non-Banking Financial Companies (NBFCs), come with higher interest rates than regular fixed deposits with banks, especially the public sector banks and major private sector banks. However, corporate FDs are not secured under the insurance cover offered by the Deposit Insurance and Credit Guarantee Corporation (DICGC), an RBI subsidiary unlike FDs opened with scheduled banks. Therefore, it is extremely important to carefully examine the ratings assigned by recognized ratings agencies like CRISIL, CARE, ICRA, etc. while selecting the corporate FDs.