Bearing in mind the current decline in the interest rate levels, the fixed deposit programme of Canbank Factors, a subsidiary of Canara Bank, appears to be a good option for investors. The interest rates are higher by almost one per cent than that offered by leading banks.
Canbank Factors provides factoring services to business enterprises. The company also undertakes services such as collection of receivables and maintenance of sales ledger.
Given the credit quality and strong fundamentals, the company is not likely to face any problems servicing its fixed deposit base. Investors can choose any of the options on offer.
