With competitive interest rates and flexible investment periods, the Mahindra Finance Fixed Deposit scheme provides a safe and secure way to grow your money. It is among the most beneficial investment schemes for numerous reasons. One of them is the AAA/Stable rating by CRISIL, a testament to its financial strength and stability.
Mahindra Finance FD rates are among the most competitive, going up to 8.30% per annum. The FD also comes with a flexible investment amount and tenor of up to 5 years, allowing you to invest as per your goals.
Tenor (in months) |
Non-senior Citizen |
Senior Citizen |
12 |
7.50% |
7.75% |
15 |
7.75% |
8.00% |
24 |
7.80% |
8.05% |
30 |
7.90% |
8.15% |
36 |
8.10% |
8.35% |
42 |
8.05% |
8.30% |
48 |
8.05% |
8.30% |
60 |
8.10% |
8.35% |
Disclaimer: The above interest rates are as of 25th April 2024, and are subject to change at the issuer’s discretion.
Monthly |
Quarterly |
Half-Yearly |
Annually |
||||
Non-senior Citizen (p.a) |
Senior Citizen (p.a) |
Non-senior Citizen (p.a) |
Senior Citizen (p.a) |
Non-senior Citizen (p.a) |
Senior Citizen (p.a) |
Non-senior Citizen (p.a) |
Senior Citizen (p.a) |
7.10% |
7.35% |
7.20% |
7.45% |
7.25% |
7.50% |
7.50% |
7.75% |
7.25% |
7.50% |
7.35% |
7.60% |
7.50% |
7.75% |
7.75% |
8.00% |
7.30% |
7.55% |
7.40% |
7.65% |
7.55% |
7.80% |
7.80% |
8.05% |
7.40% |
7.65% |
7.50% |
7.75% |
7.65% |
7.90% |
7.90% |
8.15% |
7.55% |
7.80% |
7.65% |
7.90% |
7.85% |
8.10% |
8.10% |
8.35% |
7.50% |
7.75% |
7.60% |
7.85% |
7.80% |
8.05% |
8.05% |
8.30% |
7.50% |
7.75% |
7.60% |
7.85% |
7.80% |
8.05% |
8.05% |
8.30% |
7.55% |
7.80% |
7.65% |
7.90% |
7.85% |
8.10% |
8.10% |
8.35% |
You can invest in a Mahindra Finance Fixed Deposit for a tenor of up to 60 months
A non-cumulative Mahindra Finance FD comes with multiple payout options, including monthly, quarterly, half-yearly, and yearly
You can book an FD online or offline and enjoy a hassle-free process
Senior citizens get additional returns of 0.25% under the Samruddhi Fixed Deposits option by Mahindra Finance.
The Mahindra Finance Fixed Deposit comes with a simple eligibility criterion wherein you need to be at least 18 years or older to start investing. Parents or legal guardians can book a Mahindra Finance FD on behalf of a minor.
In addition to the above, here’s a list of people and organisations eligible for booking a Mahindra Finance FD:
Resident Individuals
Non-resident Indians
Companies
Sole Proprietorship
HUF
Partnership Firms
Trusts
Family Trust
Charitable Trust
Society, Club, Association
Now that you know about the Mahindra Finance fixed deposit rates, features, and eligibility criteria, book your investment today on Bajaj Markets. Invest in a safe and secure fixed deposit and secure your future.
Here are a few simple steps you must follow to book an FD online on www.bajajfinservmarkets.in.
Click on ‘Invest Now’
Enter your mobile number, date of birth, and verify using the OTP sent to your phone
Explore various FD options with attractive interest rates. Select the preferred partner, investment term, and interest payout frequency
Upload your PAN card, Aadhaar card, and a selfie for swift processing
Verify your personal details like address, marital status, and email address
Safely enter your bank name, IFSC code, and account number
Ensure your loved ones' future by adding nominee details
Make your online payment and start reaping returns on your investment.
The information provided by BFDL herein above is related to the partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial investment advice or endorsement of any sort. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. in the content mentioned hereinabove, as well as offers by the partnered Banks/ NBFCs. "YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED.”
Mahindra Finance FD rates vary for senior citizens. Senior citizen investors get a special hike of 0.25% p.a. on existing interest rates for Samruddhi cumulative FDs.
Yes, you can choose a monthly payout frequency when you book a non-cumulative Mahindra Finance Fixed Deposit. In fact, you can receive interest earnings every quarter, half-yearly or yearly.
Interest is paid as per two payout schedules, cumulative and non-cumulative. Cumulative fixed deposits pay the total interest amount at the end of the maturity period. Non-cumulative FDs allow you to choose a specific payout schedule when booking the FD. You can receive your interest amount every month, three months, six months, or twelve months.
The minimum and maximum Mahindra Finance FD rates currently are 8.05% p.a. and 8.30% p.a. for a Samruddhi cumulative FD.
According to the Income Tax Act of 1961, the returns earned from fixed deposits are subject to TDS deduction. This is applicable only if they exceed the stipulated yearly income of ₹40,000 for non-senior citizens and ₹50,000 for senior citizens.
Yes, NRIs are offered similar interest rates to the resident non-senior citizens investing in a fixed deposit with Mahindra Finance.
Yes, you can prematurely withdraw your Mahindra Finance FD. However, the interest rate applicable to premature withdrawals will be lower than the contracted rate. Additionally, you may have to pay a penalty fee.
Yes, you can avail of a loan by keeping your Mahindra Finance fixed deposit as security. The loan amount can be up to 75% of the investment amount, and the interest rate on the loan will be lower than that of a personal loan.
Yes, TDS is deducted on a Mahindra Finance FD if the interest earned exceeds ₹40,000 for non-senior citizens and ₹50,000 for senior citizens in a financial year.