✔️Will any special Mahindra Finance FD rates apply to a specific category of applicants?

Mahindra Finance FD rates vary for senior citizens. Senior citizen investors get a special hike of 0.25% in interest rates.

✔️Does the Mahindra Finance FD offer monthly interest?

Yes, you can choose a monthly payout frequency when you book a non-cumulative Mahindra Finance Fixed Deposit. In fact, you can receive interest earnings every quarter, half-yearly or yearly.

✔️How is the interest paid in the Mahindra Finance Fixed Deposit?

Interest is paid as per two payout schedules, cumulative and non-cumulative. Cumulative fixed deposits pay the total interest amount at the end of the maturity period. Non-cumulative FDs allow you to choose a specific payout schedule when booking the FD. You can receive your interest amount every month, every three months, every six months or every twelve months.

✔️What is the FD interest rate of Mahindra Finance?

The minimum and maximum Mahindra Finance FD rates currently are 7.05% and 8.00% for a cumulative FD.

✔️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 subject to TDS deduction. This is applicable only if they exceed the stipulated yearly income of ₹40,000 for non-senior citizens and ₹50,000 for senior citizens.

✔️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 with Mahindra Finance.

✔️Can I prematurely withdraw my Mahindra Finance FD?

Yes, you can prematurely withdraw your Mahindra Finance FD. However, the interest rate applicable to premature withdrawals will be lower than the contracted rate. Additionally, you may have to pay a penalty fee.

✔️Can I avail of a loan against my Mahindra Finance fixed deposit?

Yes, you can avail of a loan by keeping your Mahindra Finance fixed deposit as security. The loan amount can be up to 75% of the investment amount, and the interest rate on the loan will be lower than that of a personal loan.

✔️Is TDS Deducted on a Mahindra Finance FD?

Yes, TDS (Tax Deducted at Source) is deducted on a Mahindra Finance FD if the interest earned on the FD exceeds ₹40,000 for non-senior citizens and ₹50,000 for senior citizens in a financial year. The TDS rate is 10%, but it can be lowered by submitting a valid Form 15G/15H.

✔️Does the Mahindra Finance FD offer monthly interest?

Yes, Mahindra Finance FD offers monthly interest under its non-cumulative fixed deposit scheme called Samruddhi. The interest earned can be paid monthly, quarterly, half-yearly, or yearly. This scheme is suitable if you require a regular income stream from your investments.

Mahindra Finance Fixed Deposit Rates 2023

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Interest Rates and Charges

With competitive interest rates and flexible investment periods, the Mahindra Finance Fixed Deposit scheme provides a safe and secure way to grow your money. Fixed Deposits are undoubtedly one of the safest investment instruments available. They offer secure returns with minimal risk, making them an excellent option for risk-averse investors.

Among the many financial institutions offering high-yielding FDs is Mahindra Finance, a leading NBFC in India. Read on to learn more about the rates and benefits of this scheme.

About Mahindra Finance FD

Mahindra Finance Fixed Deposit is among the most beneficial investment schemes for numerous reasons. One of them is the AAA/Stable rating by CRISIL, a testament to its financial strength and stability.

In addition to that, the Mahindra Finance FD rates are among the most competitive, going up to 8.00% per annum. The FD also comes with a flexible investment amount and tenor of up to 5 years, allowing you to invest as per your goals.

Mahindra Finance Cumulative FD Interest Rates

Tenor	Interest rate for non-senior citizens (p.a.)	Interest rate for senior citizens (p.a.)
12 months	7.40%	7.65%
24 months	7.60%	7.85%
36 months	7.70%	7.95%
48 months	7.75%	8.00%
60 months	7.75%	8.00%

Mahindra Finance Non-Cumulative FD Interest Rates

Tenor	Interest rates (p.a.) - Monthly		Interest rates (p.a.) - Quarterly		Interest rates (p.a.) - Half-yearly		Interest rates (p.a.) - Yearly
Tenor	Non-senior citizens	Senior citizens	Non-senior citizens	Senior citizens	Non-senior citizens	Senior citizens	Non-senior citizens	Senior citizens
12 months	7.05%	7.30%	7.10%	7.35%	7.15%	7.40%	7.40%	7.65%
24 months	7.10%	7.35%	7.20%	7.45%	7.35%	7.60%	7.60%	7.85%
36 months	7.20%	7.45%	7.30%	7.55%	7.45%	7.70%	7.70%	7.95%
48 months	7.25%	7.50%	7.35%	7.60%	7.50%	7.75%	7.75%	8.00%
60 months	7.25%	7.50%	7.35%	7.60%	7.50%	7.75%	7.75%	8.00%

Mahindra Finance FD Returns Based on Different Tenors

The following table gives an overview of the returns you can earn from a Mahindra Finance Fixed Deposit for various tenors, with an assumed investment amount of ₹5 Lakhs for a cumulative FD.

The table below shows the Mahindra Finance FD interest rates for Non-Senior Citizens:

Tenor	Rate of Interest (per annum)	Amount at Maturity
12 months	7.40%	₹5,38,039
24 months	7.60%	₹5,81,251
36 months	7.70%	₹6,28,548
48 months	7.75%	₹6,79,694
60 months	7.75%	₹7,33,921

Note: The interest rates mentioned are subject to change. The maturity amount may also vary based on the investment terms.

The table below shows the interest rates of Mahindra Finance FD for Senior Citizens:

Tenor	Rate of Interest (per annum)	Amount at Maturity
12 months	7.65%	₹5,39,361
24 months	7.85%	₹5,84,109
36 months	7.95%	₹6,33,189
48 months	8.00%	₹6,86,393
60 months	8.00%	₹7,42,974

Note: The interest rates mentioned are subject to change. The maturity amount may also vary based on the investment terms.

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Compare Mahindra Finance Fixed Deposit Returns with Top Banks

While banks also offer FDs, comparing the interest rates with that of Mahindra Finance FD is essential. This can help you make an informed decision when selecting where to invest your money.

Here is an overview of the interest rates for fixed deposits from top banks:

Name of the Bank	Interest rates (% p.a.)
Axis Bank	Up to 8.01%
State Bank of India	Up to 7.60%
Punjab National Bank	Up to 8.05%
YES Bank	Up to 8.25%
ICICI Bank	Up to 7.25%
Union Bank of India	Up to 7.75%
HDFC Bank	Up to 7.75%
Bank of Baroda	Up to 7.55%
Canara Bank	Up to 7.75%
Kotak Mahindra Bank	Up to 7.70%

Disclaimer:These FD rates are subject to change as per the issuer’s policies.

Types of Mahindra Finance FD Schemes

Like most FDs, you can categorise Mahindra Finance FD schemes into cumulative and non-cumulative schemes. In cumulative, you receive the interest payout when the investment tenor ends, i.e., on maturity.

Whereas in non-cumulative, you can receive your interest earnings at periodic intervals. You can choose to receive interest monthly, quarterly, half-yearly, or yearly. Apart from this, Mahindra Finance offers the following FD schemes:

1. Dhanvruddhi Fixed Deposit scheme

This scheme is available only if you are an online investor
Investment in the Dhanvruddhi FD scheme is capped at ₹1 Crore for both cumulative and non-cumulative deposits
Mahindra Finance FD interest rates go up to 7.75% per annum
If you are a Senior citizen investor, then you get an additional interest of 0.25%
If you are an employee at Mahindra Group or are an employee’s relative, you are not eligible for an additional 0.35% interest for deposits under this scheme

2. Samruddhi Fixed Deposit scheme

This scheme is available for both modes – online and offline
Apart from cumulative and non-cumulative categories, investment in the Samruddhi scheme is further divided based on your investment amount
You can invest more than ₹25 Crores in a Samruddhi cumulative deposit scheme
Samruddhi non-cumulative FD scheme is available only for investments up to ₹24.999 Crores
The interest rates for the Samruddhi scheme go up to 8.00% per annum
Senior citizens and Mahindra Group company employees and employees’ relatives, including those who are retired, get an additional interest
This interest benefit is 0.25% and 0.35%, respectively, for deposits up to ₹50 Lakhs

Features of Mahindra Finance FD

Apart from the competitive interest rates for regular investors and senior citizens, here are several other noteworthy features of Mahindra Finance fixed deposits.

Flexible Tenor: You can invest in a Mahindra Finance Fixed Deposit for a tenor of up to 60 months. This flexibility makes it an ideal scheme for short- or medium-term financial goals.

Regular Payouts: A non-cumulative Mahindra Finance FD comes with multiple payout options. You can get monthly, quarterly, half-yearly or yearly interest earnings based on your needs.

Simple Process: You can book a Mahindra Finance Fixed Deposit online or offline and enjoy a hassle-free process.

Senior Citizen Benefit: Senior citizens get additional returns of 0.25% under the Samruddhi Fixed Deposits option by Mahindra Finance.

Special Interest Rates: Mahindra Group employees and their relatives also get an additional 0.35% interest rate on booking Samruddhi Fixed Deposits.

Eligibility Criteria

The Mahindra Finance Fixed Deposit comes with a simple eligibility criterion wherein you need to be above 18 years to start your investment. Parents or legal guardians can book a Mahindra Finance FD on behalf of a minor.

In addition to the above, here’s a list of people and organisations eligible for booking a Mahindra Finance FD:

Resident Individuals
Non-Resident Indians
Companies
Sole Proprietorship
HUF
Partnership Firms
Trusts
Family Trust
Charitable Trust
Society, Club, Association

Now that you know about the Mahindra Finance fixed deposit rates, features, and eligibility criteria, book your investment today on Bajaj Markets. Invest in a safe and secure fixed deposit and secure your future.

FAQ on Mahindra Finance

✔️Will any special Mahindra Finance FD rates apply to a specific category of applicants?

Mahindra Finance FD rates vary for senior citizens. Senior citizen investors get a special hike of 0.25% in interest rates.
✔️Does the Mahindra Finance FD offer monthly interest?

Yes, you can choose a monthly payout frequency when you book a non-cumulative Mahindra Finance Fixed Deposit. In fact, you can receive interest earnings every quarter, half-yearly or yearly.
✔️How is the interest paid in the Mahindra Finance Fixed Deposit?

Interest is paid as per two payout schedules, cumulative and non-cumulative. Cumulative fixed deposits pay the total interest amount at the end of the maturity period.

Non-cumulative FDs allow you to choose a specific payout schedule when booking the FD. You can receive your interest amount every month, every three months, every six months or every twelve months.
✔️What is the FD interest rate of Mahindra Finance?

The minimum and maximum Mahindra Finance FD rates currently are 7.05% and 8.00% for a cumulative FD.
✔️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 subject to TDS deduction. This is applicable only if they exceed the stipulated yearly income of ₹40,000 for non-senior citizens and ₹50,000 for senior citizens.
✔️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 with Mahindra Finance.
✔️Can I prematurely withdraw my Mahindra Finance FD?

Yes, you can prematurely withdraw your Mahindra Finance FD. However, the interest rate applicable to premature withdrawals will be lower than the contracted rate. Additionally, you may have to pay a penalty fee.
✔️Can I avail of a loan against my Mahindra Finance fixed deposit?

Yes, you can avail of a loan by keeping your Mahindra Finance fixed deposit as security. The loan amount can be up to 75% of the investment amount, and the interest rate on the loan will be lower than that of a personal loan.
✔️Is TDS Deducted on a Mahindra Finance FD?

Yes, TDS (Tax Deducted at Source) is deducted on a Mahindra Finance FD if the interest earned on the FD exceeds ₹40,000 for non-senior citizens and ₹50,000 for senior citizens in a financial year.

The TDS rate is 10%, but it can be lowered by submitting a valid Form 15G/15H.
✔️Does the Mahindra Finance FD offer monthly interest?

Yes, Mahindra Finance FD offers monthly interest under its non-cumulative fixed deposit scheme called Samruddhi. The interest earned can be paid monthly, quarterly, half-yearly, or yearly. This scheme is suitable if you require a regular income stream from your investments.