Mahindra Finance FD Rates
Updated on June 27, 2024
Written by Manish Kothari
CEO Zfunds
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Mahindra Finance FD Rates
Mahindra & Mahindra Finance Services Limited is one of the leading Non-Banking Financial Companies (NBFC) in India, allowing its customers to invest their money in fixed deposits (FDs) and earn interest on it at higher rates. Mahindra Finance offers Samruddhi Scheme to its customers for cumulative and non-cumulative investment options, which are available to them both on the online as well as on the offline platform.
What is a Fixed Deposit (FD) ?
A fixed deposit (FD) is an investment instrument offered by various banks and non-banking financial companies (NBFC) to their customers. Through an FD, people may invest a specific sum of money for a fixed tenure at a predetermined interest rate. The interest rate varies from one financial organization to another, although it is relatively higher than the interest offered on the savings accounts.
Also Read : Shriram Transport FD Interest Rates
Mahindra Finance Fixed Deposit Features
The Fixed Deposit offered by Mahindra & Mahindra Finance Services Ltd. has a CRISIL rating of 'FAAA,' indicating a high investment in safety and security for the customers.
It also offers a 0.25% additional interest rate for senior citizens under the Samruddhi Fixed Deposits scheme.
An additional interest rate of 0.35% is also offered by the same for all Mahindra group company employees along with their relatives for the Samruddhi Fixed Deposits scheme.
Mahindra Finance Fixed Deposit Interest Rates
Mahindra Finance Fixed Deposit rates are w.e.f. 24th August 2020 given below:
Samruddhi Cumulative Scheme (up to Rs 1 crore either online or offline)
| Investment period | Interest rates (per annum) | |
| General | Senior Citizens | |
| 1 year | 5.5% | 5.75% |
| 2 years | 6.0% | 6.25% |
| 3 years | 6.3% | 6.55% |
| 4 years | 6.45% | 6.70% |
| 5 years | 6.45% | 6.70% |
Samruddhi Non-Cumulative Scheme (up to Rs 1 crore either online or offline)
· Payment/Investment may be done on a monthly, quarterly, half-yearly, or yearly basis.
· Minimum investment: Rs 50,000 (for monthly and quarterly basis) and Rs 25,000 (half-yearly/yearly)
| Investment period | Interest rates (per annum) | Interest rates (per month) | ||
| General | Senior citizens | General | Senior citizens | |
| 1 year | 5.5% | 5.75% | 4.95% | 5.20% |
| 2 years | 6.0% | 6.25% | 5.45% | 5.70% |
| 3 years | 6.3% | 6.55% | 5.75% | 6.00% |
| 4 years | 6.45% | 6.70% | 5.90% | 6.15% |
| 5 years | 6.45% | 6.70% | 5.90% | 6.15% |
Bulk deposit (Rs 1 crore – Rs 5 crore): Cumulative scheme
| Investment period | Interest rates (per annum) |
| General | |
| 1 year | 5.25% |
| 2 years | 5.50% |
| 3 years | 5.90% |
| 4 years | 5.90% |
| 5 years | 6.00% |
Bulk deposit (above Rs 5 crore): Cumulative Scheme
| Investment period | Interest rates (per annum) |
| General | |
| 1 year | 5.00% |
| 2 years | 5.35% |
| 3 years | 5.70% |
| 4 years | 5.70% |
| 5 years | 5.70% |
Mahindra Finance Fixed Deposit Eligibility
- Resident Individuals
- Companies
- NRIs
- Partnership Firms
- Trusts and Foundations
- Family Trusts
- Charitable Trusts
- HUFs
- Sole Proprietorship
- Clubs, Association, Societies
Frequently Asked Questions (FAQs)
Q. What are the schemes of deposit available in Mahindra Finance ?
A. Mahindra Finance offers cumulative and non-cumulative deposit schemes to its customers.
Q. What are cumulative and non-cumulative deposit schemes ?
A. In Cumulative schemes, the interest is calculated either quarterly or half-yearly and is then paid cumulatively at the time of scheme’s maturity. Whereas, In non-cumulative deposit schemes, the interest is paid either monthly, quarterly, half-yearly, or yearly as opted by the depositor.
Q. Who can apply for the Mahindra Finance FD account ?
A. Mentioned below can apply and open an FD account in Mahindra Finance:
- Resident Individuals
- NRIs
- Companies
- Partnership Firms
- Trusts and Foundations
- Family Trusts
- Charitable Trusts
- HUFs
- Sole Proprietorship
- Clubs, Association, Societies
Q. What is a Fixed Deposit (FD) ?
A. A fixed deposit (FD) is an investment option offered by various banks as well as non-banking financial companies (NBFC) to their customers. People may invest a specific amount of money for a fixed tenure at a pre-decided interest rate through an FD account.
Q. Why choose the Mahindra Finance FD account ?
A. Mahindra & Mahindra Finance Services Limited is one of the leading Non-Banking Financial Companies (NBFC) in India which allows its customers to invest and save their money in fixed deposits (FDs) and earn interest on it at higher rates. The Fixed Deposit of Mahindra & Mahindra Finance Services Ltd. has a CRISIL rating of 'FAAA,' which indicates a high investment along with safety for the customers. It also offers a 0.25% additional interest rate on the savings only for senior citizens under the Samruddhi Fixed Deposits scheme. A different rate of interest of 0.35% is also provided for all Mahindra group company employees and their relatives for the Samruddhi Fixed Deposits scheme.
Q. What is the interest rate of the Samruddhi Cumulative Scheme for Rs 1 crore for senior citizens?
A. For Samruddhi Cumulative Scheme for Rs 1 crore for senior citizens, interest rates are:
| Investment period | Interest rates (per annum) |
| Senior Citizens | |
| 1 year | 5.75% |
| 2 years | 6.25% |
| 3 years | 6.55% |
| 4 years | 6.70% |
| 5 years | 6.70% |
Also Read :
Mahindra Finance FD Interest Rates