Mahindra Finance FD Rates 2023

Mahindra Finance began its journey in the early 90s as a financier for Mahindra Utility Vehicles. Their product portfolio includes vehicle finance, pre-owned vehicles, SME finance, etc. It is also involved in mutual fund distribution, personal loans and fixed deposits. This financial institution has a network of 1386 offices and has a presence in every state in India. Mahindra Finance offers different types of FD schemes that aim to fulfil different requirements of different customers. Read on to learn about them, along with Mahindra Finance FD rates.

Minimum Deposit₹5000
Maximum DepositNo limit specified
Minimum Tenure1 year
Maximum Tenure5 years
Interest Rates7.00% to 8.05% (including both Dhanvruddhi and Samruddhi Schemes)
Lock-in PeriodNo data available
Senior Citizen7.25% to 8.30% (including both Dhanvruddhi and Samruddhi Schemes)
General Citizen7.00% to 8.05% (including both Dhanvruddhi and Samruddhi Schemes)

Mahindra Finance FD Rates 2023

TenureGeneral CitizenSenior Citizen

Features and Benefits of Mahindra Finance FD

If you are planning to invest in any of the FD schemes offered by Mahindra Finance, check out the features and benefits discussed below:

  1. All senior citizens who invest in FD schemes will receive an additional 0.25% above the general Mahindra Finance FD rates.
  2. In the case of Mahindra Group employees and their relatives, Mahindra Finance offers an additional interest rate of 0.35% over the general rate.
  3. You can opt for monthly, quarterly, half-yearly or yearly interest payout options in case of non-cumulative schemes.
  4. You can open an FD account in Mahindra Finance both online as well as offline.
  5. Joint accounts can also be opened.
  6. Non-resident Indians can also apply for Mahindra Finance FD schemes.

How to Book Mahindra Finance FD?

Mahindra Finance offers you the opportunity to invest in their FD schemes online and offline. Check out the steps for each of the methods in detail:


Following are the steps that you can follow if you wish to invest in Mahindra Finance FD schemes online:

  • Step 1: Visit the official website of Mahindra Finance and navigate to the Fixed Deposit section. You can also log in to Mahindra Finance’s exclusive fixed deposit page.
  • Step 2: If you are a new investor with a CKYC number, you can click on ‘Rapid Investment. If not, then you need to click on ‘Regular Investment’.
  • Step 3: If you choose ‘Rapid Investment’, you need to follow the 6 steps, while in the case of ‘Regular Investment’, you need to follow 9 steps.
  • Step 4: Once prompted, provide details of your investment and upload your KYC documents for reference.
  • Step 5: Now, you have to complete your online payment. After completion of the transaction, you will receive a notification on your registered mail ID.


If you wish to book an FD using the offline method, here are the steps that you can follow:

  • Step 1: Visit the official website of Mahindra Finance.
  • Step 2: Download the FD application form. Or else you can also visit any nearest Mahindra & Mahindra Financial Services Limited branch to collect it.
  • Step 3: Fill up the form and submit it along with the KYC documents and investment cheque in favour of ’MMFSL- FIXED DEPOSITS’. Also, mention the CKYC number if you have one in the application form. You can also take the help of a relationship manager for immediate assistance.
  • Step 4: After verification of your documents and amount realisation, you will receive your FD receipt in your registered email ID. The FD receipt will be sent to you within 7 working days.

Documents Required to Book Mahindra Finance FD

Here is a list of the documents that you will need while investing in any of the FD schemes offered by Mahindra Finance:

  1. Duly filled in the FD account opening form. 
  2. PAN card or Form 60/61.
  3. Age proof – birth certificate, school passing/graduation certificate.
  4. Identity proof – voter ID, driving licence, passport, etc. 
  5. Address proof – bank statement, utility bill, etc. 
  6. Passport-size Photographs
  7. Any other documents specific to the entities that might be requested by the bank, such as a cancelled cheque leaf for bank account verification, list of signatories, etc.

Eligibility to Open Mahindra Finance FD

Following is a list of all the people and entities that are eligible to open an FD account in Mahindra Finance:

  • Applicant Type: Resident Individuals, Non-Resident Indians, Companies, Partnership Firms, Trusts and Foundations, HUFs, Sole Proprietorships, Societies, Associations and Clubs.
  • Age of Applicant: Minimum 18 years. Minors are also eligible in the presence of an adult.

Types of Mahindra Finance FD Schemes

Mahindra Finance offers two types of FD schemes. These are:

1. Mahindra Finance Dhanvruddhi Scheme

If you wish to invest in an FD scheme from the comforts of your home, then you can try out the Mahindra Finance Dhanvruddhi Scheme. This scheme is exclusively available for online investors. You can opt for either the cumulative or non-cumulative option available for this scheme.

  • Minimum Deposit: ₹5000
  • Maximum Deposit: ₹2 crores
  • Tenure: 30 months to 42 months
  • Interest Rate: 7.40% to 8.30%
  • Eligibility: Indian residents, as well as NRIs

2. Mahindra Finance Samruddhi Scheme

Mahindra Finance Samruddhi Scheme is available for both online and offline investors. This scheme comes in cumulative and non-cumulative varieties. If you plan to invest a huge amount, you can try out the bulk deposit option with a minimum deposit amount of above ₹2 crores. The Mahindra Finance fixed deposit rates are different for bulk deposits.

  • Minimum Deposit: ₹5000
  • Maximum Deposit: No limit specified
  • Tenure: 1 year to 5 years
  • Interest Rate: 7.00% to 8.05% (including rates for bulk deposits)
  • Eligibility: Indian residents as well as NRIs.

It is best to go through all the terms and conditions of any scheme that you are planning to invest in. The same is applicable for Mahindra Finance FD schemes. Do not forget to consider the penalty clause so that you do not end up losing your hard-earned money after investing in any scheme. Also, take note of the Mahindra Finance FD rates.


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