Mahindra Finance FD Rates

Investing in a fixed deposit is an excellent way to grow your savings. Here’s why, Mahindra Finance offers FD plans with competitive interest rates and flexible tenures that are flexible plan for retirement. They aid in emergencies and further your child’s education. All individuals, NRIs, HUFs, companies, and other parties can invest in a Mahindra Finance FD saving scheme.

Mahindra Finance FD rates can go up to 8.05% p.a. for regular citizens with an extra 0.25% for senior citizens on the Samruddhi Scheme and 0.10% p.a. additional rate on the Dhanvruddhi Scheme of up to ₹5 crores only. Select your Mahindra Finance FD savings type and enjoy optimal returns on your selected tenure.

Mahindra Finance FD Interest Rates

Mahindra Finance offers two FD schemes, providing flexibility and choice to you, making it an ideal option to grow your savings. These schemes are the Dhanvruddhi Scheme and the Samruddhi Scheme. Offering different interest rates for different tenures for both cumulative and non-cumulative FD accounts. The Mahindra Finance FD interest rates are provided in the following tables below.

Mahindra Finance FD Dhanvruddhi Cumulative Scheme

For deposits up to ₹5 Crore, the Dhanvruddhi Scheme offers varied tenures of 15, 30, and 42 months where you can invest a minimum amount of ₹5000.

The interest rates for the respective tenures offered by the Dhanvruddhi Cumulative Scheme for deposits up to ₹5 Crore are as follows:

Mahindra Finance FD Dhanvruddhi Non-cumulative Scheme

For Non-cumulative FD accounts, the Dhanvruddhi scheme requires a minimum deposit of ₹50,000 for monthly and quarterly interest payouts and ₹25,000 for half-yearly and yearly interest payouts. The Mahindra Finance FD interest rates and tenures offered by the Dhanvruddhi Non-cumulative Scheme for deposits up to ₹5 crore are:

Mahindra Finance FD Samruddhi Cumulative Scheme

Mahindra Finance offers the Samruddhi Cumulative scheme for a minimum deposit amount of ₹5000 at varied tenures of 12, 24, 36, 48, and 60 months. The deposits in thai scheme are upto ₹5 Crores. The interest rate of the fixed deposit with Mahindra Finance are:

Mahindra Finance FD Samruddhi Non-cumulative Scheme

The Samruddhi Non-cumulative scheme offers FD accounts with a minimum deposit of ₹50,000 for monthly and quarterly interest payouts and ₹25,000 for half-yearly and yearly interest payouts. The interest rates for deposits of up to ₹5 crores are:

Mahindra Finance FD Cumulative Bulk Deposits

Mahindra Finance FD also offers bulk deposits above ₹5 crores for a tenure of 12 and 24 months. The interest rate for Mahindra Finance FD bulk deposits are:

Online FD Calculator

Before you invest, it's wise to estimate your maturity amount, so if you’re curious about your potential returns with Mahindra Finance FD, try using an online FD Calculator! It is an easy tool to use, all you need to do is input the investment amount, interest rate, and tenure.

Mahindra Finance FD Types

A fixed deposit offers cumulative and non-cumulative based returns, i.e. flexible and would purely align with your financial goals

• Cumulative Fixed Deposit: In a Cumulative FD, interest is compounded and added to the principal amount. The total sum, including interest, will be paid out at maturity.
• Non-cumulative: In this FD account, the interest is not added to the principal amount. Instead, you receive periodic interest payments, making it an ideal source of regular income, especially for senior citizens.

Mahindra Finance FD Eligibility Criteria

There are no strict eligibility policies set by Mahindra Finance. The Mahindra fixed deposits can be opened by any of the following entities:

• Resident Indian citizens
• Minors (through their parents or guardians)
• NRIs (Non-resident Indians)
• Family Trust
• Charitable Trust
• HUF (Hindu Undivided Family)
• Clubs
• Companies
• Trusts and Foundation
• Sole Proprietorship
• Partnership Firms
• Association Societies

Mahindra Finance FD Documents

Mahindra Finance asks for a few essential documents when opening a fixed deposit account. Here's the complete list of required documents for all eligible entities:

Resident Indian Citizens

• Passport
• Driving licence
• Permanent Account Number (PAN) card
• Voter identity card issued by the Election Commission of India
• Job card issued under the National Rural Employment Guarantee Act (NREGA), duly signed by a State Government officer
• Letter from the Unique Identification Authority of India containing details of name, address, and Aadhaar number, or any other document specified by the Central Government in consultation with the regulator

NRIs (Non-Resident Indians)

• Passport with valid visa/OCI
• Overseas employment letter (optional, for confirmation of residential status and overseas address)
• PIO cards
• PAN card
• Local proof of address, if different from the passport address
• Bank account statement or passbook
• Local property papers with registration deed
• EB Bill card
• Voter ID or driving licence
• Tax Residency Certificate from the Income Tax department of the country of residence
• Copy of the passport at the beginning and end of the financial year.

Trust and Foundations

• For investments exceeding Rs 1 crore, a declaration of the income source is required.
• Provide names, addresses, and contact details of trustees, settlers, beneficiaries, and signatories.
• Only deposits from registered trusts are accepted.
• Our investment does not qualify under Sec 11(5) of the Income Tax Act.

Partnership Firms

• PAN card
• Address proof (bank statement, telephone bill, utility bill)
• Partnership deed copy
• Copy of resolution
• ID and address proof of all authorised signatories
• Photographs of signatories
• Cancelled cheque leaf for bank account verification

Companies

• PAN card
• Address proof (bank statement or telephone bill)
• Certificate of incorporation
• Memorandum of articles & association with the latest board resolution and specimen signatures
• List of authorised signatories
• Photographs of signatories
• Cancelled cheque leaf for bank account verification
• ID and address proof of authorised signatories

Sole Proprietorships

• ID and address proof of the proprietor
• Address proof
• PAN card of the proprietor
• Telephone bill
• If the sole proprietorship is under a different name, provide the bank statement or registration certificate
• Cancelled cheque leaf for bank account verification
• Photograph

Features & Benefits of Mahindra Finance FD

Mahindra Finance fixed deposit offers many features and benefits that will cater to your diverse financial needs. Making it an ideal choice for investors seeking stability, flexibility, and attractive returns on their savings. These features and benefits are:

• Guaranteed returns: Your investment is highly secure with Mahindra Finance FDs. You'll receive guaranteed returns at fixed interest rates, ensuring that the maturity value exceeds the initial investment.
• Competitive interest rates: Enjoy competitive interest rates of up to 8.05% p.a. which ensures financial growth. Senior citizens enjoy even higher rates, with up to 0.25% more than regular investors. Additionally, Mahindra Group employees and their relatives can avail of an additional 0.35% interest on the Samruddhi fixed deposit scheme.
• Diverse FD schemes: Enjoy flexibility and choose between different FD schemes that fit your financial goals and requirements. You can easily customise your investment amount, tenure, and interest payout term based on your financial goals.
• Paperless process: Mahindra Finance boasts convenience through their complete streamlined online process. Open an account seamlessly from home in just a few minutes. With minimal documentation required for fixed deposit accounts.
• Minimum Deposit: You can easily open an FD Cumulative account with a minimal deposit of ₹5000. You can also open a Mahindra FD non-cumulative account at a minimum deposit of ₹50,000 for monthly and quarterly interest payouts and ₹25,000 for half-yearly and annual interest payouts. Making FDs easily accessible for anyone to grow their savings.

How to Apply for Mahindra Finance FD?

The account opening process for Mahindra fixed deposit is easy and direct. You can also call customer care to get the support required at any point in the application. Here are the steps that you can follow to open a Mahindra Finance FD account:

• Step 1: Visit the Mahindra Finance website.
• Step 2: Click fixed deposit and ‘Apply Now’.
• Step 3: Provide your name and date of birth
• Step 4: Enter your contact information
• Step 5: Choose your FD scheme
• Step 6: Verify your KYC details
• Step 7: Input your bank information
• Step 8: Complete your payment to successfully open your FD.