What is the highest Mahindra Finance FD rate for senior citizens?

The highest Mahindra Finance Senior Citizen FD rate is 7.80% p.a. on deposit for the tenure of 48 and 60 months.

Is Mahindra Finance FD Safe for Senior Citizens?

Mahindra Finance fixed deposits are safe as deposits up to ₹5 lakh per depositor per bank are covered under DICGC insurance.

Can senior citizens get a monthly income from a Mahindra Finance FD?

Yes, Mahindra Finance Bank offers non-cumulative fixed deposits where interest can be paid monthly, quarterly, half-yearly, or annually.

What is the minimum amount required to open a Mahindra Finance Bank Senior Citizen FD?

The minimum amount required to open a Mahindra Finance Senior Citizen Fixed Deposit is ₹1,000.

Is interest earned on Mahindra Finance Senior Citizen Fixed Deposits taxable?

Yes. Interest earned on Mahindra Finance Senior Citizen Fixed Deposits is taxable as per the applicable income tax slab. Banks may deduct TDS if annual FD interest exceeds the prescribed threshold limit.

Mahindra Finance Senior Citizen Fixed Deposit Rates

Name: Mahindra Finance Senior Citizen FD Rates
Brand: Interest Rates
Rating: 4.6 (13667 reviews)

Mahindra Finance offers attractive FD rates for senior citizens ranging from 6.95% to 7.80% p.a. across tenures of 7 days to 10 years. Continue reading for the latest Mahindra Finance Senior Citizen FD rates.

Mahindra Finance Senior Citizen FD Snapshot	Details
Highest Senior Citizen FD Rate	7.80%
FD Tenure Range	7 to 10 Years
Minimum FD Amount	Rs. 1000/-
Premature Withdrawal Facility	Available
Loan Against FD	Up to 90% of the fixed deposit amount.

Mahindra Finance Senior Citizen FD Rates

The table below provides a detailed breakdown of Mahindra Finance Senior Citizen FD rates across different tenure options.

Tenure	Senior Citizen FD Rates (per annum)
12 Months	6.95%
18 Months	6.95%
24 Months	7.20%
30 Months	7.20%
36 Months	7.75%
42 Months	7.75%
48 Months	7.80%
60 Months	7.80%

Use the Mahindra Finance FD Calculator below to estimate the maturity amount and interest earned on your Mahindra Finance fixed deposit based on your investment amount, tenure, and applicable FD rate.

Compare Mahindra Finance Senior Citizen FD Interest Rates with Other Banks

Several banks currently offer higher interest rates than Mahindra Finance for specific tenures. The table below compares Mahindra Finance senior citizen Fixed Deposit rates with other banks' FD rates.

Bank	Highest Rate
Mahindra Finance	7.80% (48 and 60 Months)
Shivalik Small Finance Bank	8.50% (23 to 27 Months)
Suryoday Small Finance Bank	8.25% (30 Months)
Utkarsh Small Finance Bank	8.25% (666 Days)
Jana Small Finance Bank	8.00% (2 to 3 Years)
DCB Bank	8.00% (24-25, 34-35 and 60-61 Months)
Yes Bank	7.75% 18 < 24 months and 36 to < 60 months)
Indusind Bank	7.75% (2 to 3 Years)
Slice Small Finance Bank	7.75% (18 Months 1 day to 18 Months 2 day
Shriram Finance Bank	7.75% (36 to 60 Months)
Bajaj Finance	7.75% (31 to 60 Months)
RBL Bank	7.70% (18 to 36 months)
Sundaram Finance	7.50% (24 to 60 Months)
Bank of India	7.60% (3 years)
ICICI Housing Finance	7.10% (45 Months)
Kotak Mahindra Bank	7.30% (2 to 3 Years)
Canara Bank	7.10% (555 Days)
ICICI Bank	7.10% (3 to 5 Years)
SBI	7.05% (5 to 10 Years)
HDFC Bank	7.00% (3 to 4 Years)
Bank of Baroda	7.25% (555 Days)

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