With a legacy of trust and security, Mahindra Finance Fixed Deposit schemes offer investors a great investment opportunity. The attractive Mahindra Finance FD rates coupled with flexible tenors and numerous benefits could help you meet your investment goals.
Interest Rates for Mahindra Finance Fixed Deposits
Refer to the below tables to know the rate of interest for a Mahindra Finance FD:
Interest Rates for Cumulative Deposits:
| Tenor (Months) | Regular Citizens (p.a.) | Senior Citizens (p.a.) |
| 12 | 7.60% | 7.85% |
| 24 | 7.75% | 8.00% |
| 36 | 8.05% | 8.30% |
| 48 | 8.05% | 8.30% |
| 60 | 8.05% | 8.30% |
Disclaimer: These FD rates can vary at the discretion of the issuer.
Interest Rates for Non-cumulative Deposits:
| Tenor ( in Months) | Monthly Interest | Quarterly Interest | Half-yearly Interest | Yearly Interest | ||||
| Regular Citizen (p.a.) | Senior Citizen (p.a.) | Regular Citizen (p.a.) | Senior Citizen (p.a.) | Regular Citizen (p.a.) | Senior Citizen (p.a.) | Regular Citizen (p.a.) | Senior Citizen (p.a.) | |
| 12 | 7.20% | 7.45% | 7.25% | 7.50% | 7.35% | 7.60% | 7.60% | 7.85% |
| 24 | 7.25% | 7.50% | 7.35% | 7.60% | 7.50% | 7.75% | 7.75% | 8.00% |
| 36 | 7.50% | 7.75% | 7.60% | 7.85% | 7.80% | 8.05% | 8.05% | 8.30% |
| 48 | 7.50% | 7.75% | 7.60% | 7.85% | 7.80% | 8.05% | 8.05% | 8.30% |
| 60 | 7.50% | 7.75% | 7.60% | 7.85% | 7.80% | 8.05% | 8.05% | 8.30% |
Disclaimer: These FD rates can vary at the discretion of the issuer.
Features and Benefits of Mahindra Finance Fixed Deposits
You can enjoy the following features and benefits when you invest in a Mahindra Finance FD:
Guaranteed Returns
You get assured returns at fixed interest rates, regardless of market fluctuations. You can rest assured that the maturity amount will exceed your initial investment at the end of the term.
The FDs of Mahindra Finance have been granted the ‘IND AAA/Stable’ status by India Ratings and ‘CRISIL AAA/Stable’ by CRISIL Ratings. This indicates high safety for your initial investment.
Convenient Application Process
You can apply for a Mahindra Finance FD online via your smartphone or laptop from home. This eliminates the hassle of visiting the NBFCs nearest branch and completing the formalities offline, saving you time and effort.
In addition, the eligibility criteria and paperwork requirements are also minimal, making the application process convenient and simple.
Attractive Interest Rates
One reason that these fixed deposit options are popular with investors is that they come with competitive interest rates. This allows you to grow your initial investment and build a substantial corpus over time. You can use this amount for your short- as well as long-term goals.
For senior citizens, the interest rates can go up to 0.25% p.a. higher than the interest rates offered to non-senior citizens. In addition, employees of the Mahindra Group and relatives, can enjoy an extra 0.35% p.a. when investing in the Samruddhi fixed deposit.
High Flexibility
Another great advantage is that you enjoy the flexibility of choosing a suitable FD plan among the various options available. In addition to the fixed deposit, you also get the flexibility of selecting the investment amount, tenor, and interest payout plan.
With this high flexibility, you can choose an investment plan considering your investment goals, finances and preferences.
Eligibility Criteria of Mahindra Finance Fixed Deposits
The following entities can invest in a Mahindra Finance FD:
- Resident Indian citizens
- Non-resident Indians (NRIs)
- Hindu Undivided Family (HUF)
- Sole Proprietorship
- Companies
- Partnership Firms
- Charitable Trust
- Family Trust
- Clubs
- Trusts and Foundation
- Association Societies
Here are some essential points to remember regarding eligibility:
- There is no specific age limit to apply for the FD
- Minors can also invest with the help of a legal guardian or parents
- The minimum amount that you need to invest is ₹5,000
- The minimum investment tenor is 12 months
- The maximum investment tenor can go up to 60 months
Documents Required for Mahindra Finance Fixed Deposits
Apart from meeting the required eligibility criteria, submit the following documentation for verification purposes:
Indian Residents: Passport, Driving licence, PAN card, Voter identity card, ‘NREGA’ Job card, ‘Unique Identification Authority of India’ letter
Non-resident Indians: Passport with valid visa/ OCI, PIO cards, PAN card, local proof of address, Bank account statement or passbook, voter identity card, driving licence, tax residency certificate, overseas employment letter, local property papers, EB bill card, copy of the passport
Companies: PAN card, Certificate of incorporation, Memorandum of article and association, address proof such as bank statement or telephone bill, ID and address proof of authorised signatories
Partnership Firms: PAN card, Address proof such as bank statement or telephone bill, cancelled cheque leaf for bank account verification, ID and address proof of all authorised signatories, partnership deed, resolution copy, photograph of the signatories
Sole Proprietorship: PAN card of the proprietor, address proof, photograph, ID and address proof of the proprietor, bank statements, registration certificate, telephone bill, cancelled cheque leaf for bank account verification
The Mahindra Finance fixed deposits are characterised by attractive interest rates, flexible tenors, and numerous benefits, providing investors with the opportunity to meet their investment goals effectively. With minimal eligibility criteria and simple documentation requirements, investors can easily apply for Mahindra Finance Fixed Deposits online, saving time and effort.