Mahindra Finance Fixed Deposit - FD Interest Rates, Calculator - Wishfin

Mahindra Finance Fixed Deposit

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.

TenureInterest p.a.

Non-cumulative scheme

TenureInterest p.a. (half-yearly)Interest p.a. (quarterly)

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 IndividualsFor CompaniesFor NRIsFor Family Trust
ID proof & address proofPAN cardPassport with valid visaProof of identity
Valid passportAddress proof (Bank statement, Telephone bill)Overseas employment letter (optional for confirmation of residential status and overseas address)Copy of the Registration Certificate
Valid driving licenseCertificate of incorporationA PIO card to establish Indian Origin, if it is a foreign passportAcknowledgment of registration application if applied for
PAN cardMemorandum of Article & association & Latest Board resolution with specimen signaturesPAN cardPAN card
Voter ID cardAuthorized Signatory list with photographs of signatoriesA local address proof if different from the passport address such as Bank account statement, electricity bill, voter ID, driving license, etc.Address proof
Aadhar cardID & Address Proof of Authorized signatoriesTax Residency Certificate from the Income Tax department of the country the investor is a residentList of signatories and individual KYC of all Trustees

Personal Loan Interest Rates March 2024
HDFC Bank10.75% - 14.50%
ICICI Bank10.75% - 19.00%
IndusInd Bank10.25% - 26.00%
Kotak Bank10.99%
RBL14.00% - 23.00%
SMFG India Credit12.00% - 24.00%
Standard Chartered Bank11.49%
Tata Capital10.50% - 24.00%
Home Loan Interest Rates March 2024
Axis Bank8.75% - 9.15%
Bank of Baroda8.50% - 10.60%
Citibank8.75% - 9.15%
HDFC8.50% - 9.40%
ICICI Bank9.00% - 9.85%
Indiabulls Housing Finance Limited8.65%
Kotak Bank8.70%
LIC Housing8.50% - 10.50%
Piramal Capital & Housing Finance10.50%
PNB Housing Finance8.50% - 10.95%
Reliance Home Finance8.75% - 14.00%
State Bank of India/SBI9.10% - 9.65%
Tata Capital8.95% - 12.00%