Mahindra Finance Fixed Deposit
Last Updated : April 7, 2017, 2:46 p.m.
About Mahindra Finance Fixed Deposit
To invest and grow your money you always look for such investment options which are safe, secure and offer you more returns on your investment. People who don’t want to take the risk with their invested money and want assured returns on your investment always look for safest options for investment. Fixed deposit is one such investment tool, which is considered as one of the safest modes of investment. Fixed deposit rate of interest is higher than other investment tools. Mahindra Finance offers you a highly competitive rate of interest, which enables your corpus to grow consistently over a period of time.
Mahindra Finance Fixed Deposits scheme is specially designed to ensure guaranteed returns at very competitive interest rates with this low-risk investment. The company offers up to 7.55% p.a. for a cumulative deposit on 5 years for senior citizens.
Interest rate of Mahindra Finance Fixed Deposit
Below is the detailed list of interest for different terms for the cumulative and non-cumulative rate of interest.
| Tenure | Interest p.a. |
|---|---|
| 12 | 7.50% |
| 18 | 7.50% |
| 24 | 7.50% |
| 36 | 7.55% |
| 48 | 7.55% |
| 60 | 7.55% |
Non-cumulative scheme
| Tenure | Interest p.a. (half-yearly) | Interest p.a. (quarterly) |
|---|---|---|
| 12 | 7.35% | 7.30% |
| 24 | 7.35% | 7.30% |
| 36 | 7.40% | 7.35% |
| 48 | 7.40% | 7.35% |
| 60 | 7.40% | 7.35% |
Advantages of Mahindra Finance Fixed Deposit
- The MMFSL Fixed Deposit has a CRISIL rating of ‘FAAA’, which indicates a higher level of safety.
- The interest rate is available for cumulative and non-cumulative options.
- It offers 0.25% additional rate for senior citizens.
- 0.35% additional interest for all Mahindra group of company employees and employees relatives.
Documents required for Fixed deposit
| For resident Individuals | For Companies | For NRIs | For Family Trust |
|---|---|---|---|
| ID proof & address proof | PAN card | Passport with valid visa | Proof of identity |
| Valid passport | Address proof (Bank statement, Telephone bill) | Overseas employment letter (optional for confirmation of residential status and overseas address) | Copy of the Registration Certificate |
| Valid driving license | Certificate of incorporation | A PIO card to establish Indian Origin, if it is a foreign passport | Acknowledgment of registration application if applied for |
| PAN card | Memorandum of Article & association & Latest Board resolution with specimen signatures | PAN card | PAN card |
| Voter ID card | Authorized Signatory list with photographs of signatories | A local address proof if different from the passport address such as Bank account statement, electricity bill, voter ID, driving license, etc. | Address proof |
| Aadhar card | ID & Address Proof of Authorized signatories | Tax Residency Certificate from the Income Tax department of the country the investor is a resident | List of signatories and individual KYC of all Trustees |