Earn interest up to 7.50% p.a. by investing in a Mahindra Finance | FAAA by CRISIL

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  • Interest Rates and Charges

The interest rate of Mahindra Finance ranges from 5.80% to 7.50%, offering substantial and secure returns to support your financial goals and objectives. The Mahindra Finance interest rates are affected by factors such as the FD type and category. 

 

Fixed deposit categories impact Mahindra FD rates greatly. According to whether you are a senior citizen or non-senior citizen, your interest rates subsequently change. Additionally, 0.25% is added to regular interest rates for FD accounts booked by senior citizens. Use the FD interest rate calculator to determine the interest you would earn on investing in a fixed deposit. This simple-to-use tool takes your inputs such as the tenor, interest rate and deposit amount, and instantaneously calculates your return on investment.

Mahindra Finance FD Interest Rates

Given below is an understanding of the Mahindra Finance FD rates, depending on the Mahindra Finance FD types and categories, for your perusal. 

  • Mahindra Finance FD Rates from 25,000 to Rs.5 Cr. for Non-senior citizen 

Cumulative fixed deposits assure a payout of your returns towards the end of your FD tenor. For non-senior citizens, regular interest rates are offered from 6.25% to 7.25%. You will find below Mahindra Finance fixed deposit rates for a cumulative fixed deposit for non-senior citizens. 

FD Tenor

Cumulative FD Interest Rates for Non-senior Citizens

1 Year

6.25%

2 Years

6.60%

3 Years

7.25%

4 Years

7.25%

5 Years

7.25%

  • Mahindra Finance FD Rates from 25,000 to Rs.5 Cr. for Senior citizen 

The cumulative payout, which is disbursed at the end of the FD tenor, comes with special interest rates for senior citizens, i.e. the Mahindra Finance FD rates for senior citizens are higher than the regular rates by 0.25%. Drawn below is a table indicating cumulative FD rates for senior citizens with a deposit amount of up to ₹5 Crores. 

FD Tenor

Cumulative FD Interest Rates for Senior Citizens

1 Year

6.50%

2 Years

6.85%

3 Years

7.50%

4 Years

7.50%

5 Years

7.50%

  • Mahindra Finance Fixed Deposit Interest Rates for Non-Cumulative Deposits for Regular Citizens

Non-cumulative FDs involve the payout frequency ranging over a monthly, quarterly, half-yearly or annual basis. Following are the Mahindra Finance FD rates drawn for you considering non-cumulative fixed deposit as the type of FD and category as non-senior and regular citizen.

FD Tenor

Non-cumulative FD Interest Rates for Non-senior Citizens (Quarterly)

Non-cumulative FD Interest Rates for Non-senior Citizens (Yearly)

1 Year

5.90%

6.10%

2 Years

6.20%

6.40%

3 Years

6.90%

7.00%

4 Years

6.90%

7.00%

5 Years

6.90%

7.00%

  • Mahindra Finance Fixed Deposit Interest Rates for Non-Cumulative Deposits for Senior Citizens

Senior citizens who wish to save or multiply their corpus through a non-cumulative FD are eligible to receive a special hike of 0.25% in Mahindra Finance fixed deposit rates. You will find in succession a tabular explanation of the quarterly and yearly Mahindra Finance FD interest rates.

FD Tenor

Non-cumulative FD Interest Rates for Senior Citizens (Quarterly)

Non-cumulative FD Interest Rates for Senior Citizens (Yearly)

1 Year

6.15%

6.35%

2 Years

6.45%

6.65%

3 Years

7.15%

7.25%

4 Years

7.15%

7.25%

5 Years

7.15%

7.25%

  • Mahindra Finance NRI Fixed Deposit Interest Rates of deposits from Rs 25,000 to Rs 5 Cr.

Non-resident Indians can book a fixed deposit with Mahindra Finance at rates similar to the non-senior citizen Mahindra Finance interest rates. The interest amount can be transferred to their Non-resident Ordinary (NRO) or Non-resident External (NRE) account based on the interest rates given below. 

FD Tenor

Cumulative FD Interest Rates for Non-resident Indians

1 Year

6.25%

2 Years

6.60%

3 Years

7.25%

4 Years

7.25%

5 Years

7.25%

Special FD Interest Rates of Mahindra Finance Fixed Deposit

Special Mahindra Finance FD rates exist for senior citizens who would like to book a fixed deposit account. No matter the type or tenor they choose, senior citizens get a special increase of 0.25% in FD interest rates.

FAQs about Mahindra Finance FD Interest Rates

  • ✔️Will any special Mahindra Finance FD rates be applicable for a specific category of applicants?

    The Mahindra Finance FD rates vary for senior citizens. A special hike of 0.25% in interest rates is provided to senior citizen investors. For example, where non-senior citizens would receive a 7% interest payout, senior citizens would get 7.25% on their Mahindra Finance fixed deposit.

  • ✔️Does Mahindra Finance FD offer monthly Interest?

    Yes, Mahindra Finance can provide a monthly payout depending on the payout frequency you would like to opt for. Payouts that occur on a monthly, quarterly, half-yearly or yearly frequency are called non-cumulative fixed deposits.

  • ✔️How is interest paid in Mahindra finance fixed deposit?

    Interest is paid in two payout schedules viz. cumulative and non-cumulative FDs. Cumulative fixed deposits pay the collective interest amount at the end of the maturity period. Non-cumulative FDs, on the contrary, allow a certain payout schedule to be decided at the inception of your fixed deposit. Hence, through a non-cumulative FD, you can receive your interest amount every month, three months, six months or twelve months. 

  • ✔️What is the FD interest rate in Mahindra Finance?

    The minimum and maximum Mahindra Finance FD rates are 6.80% to 7.50% respectively which determine the interest amount earned by you through a fixed deposit.

  • ✔️What kind of tax is imposed on Mahindra Finance FD interest returns?

    According to the Income Tax Act of 1961, the returns earned from fixed deposits are considered an alternate source of income. Hence, Mahindra Finance FD interest rates are taxed. Should your returns be ₹40,000 and more, a starting tax of 10% (PAN holders) to 20% (absence of PAN) will be levied on your returns. For senior citizens, the 10% - 20% taxation begins at ₹50,000 instead.

  • ✔️Are non-senior citizens and NRIs eligible for the same Mahindra Finance FD interest rates?

    Yes, NRIs are offered similar interest rates to the resident non-senior citizens investing in a fixed deposit.