Mahindra Finance Fixed Deposit Rates

As per the latest rates, the general public can secure 7.50%-8.10% annualised interest from Mahindra Finance fixed deposits. Besides this, a 0.25% additional interest is offered to the senior citizen customers. For the best Mahindra Finance fixed deposit rates, you may check the information on the Stable Money app. Right now, you can keep reading to learn some benefits of opening a fixed deposit with Stable Money.

Mahindra Finance Fixed Deposit Rates for General and Senior Citizens 

You can start investing in Mahindra Finance fixed deposits with just ₹5,000. For senior citizens, the annual interest rate can be a maximum of 8.35% while for general citizens it is 8.10% for a period of 5 years. 

Accordingly, if you are below 60 and decide to invest ₹80,000 for 5 years, you will get ₹38,092 as returns at maturity. Accordingly, your corpus will be ₹1,18,092. Alternatively, if someone aged above 60 invested the same amount for 5 years, then Mahindra Finance would have given them ₹39,464 as total interest. This change in returns is due to the additional 0.25% Mahindra Finance fixed deposit interest rates for senior citizen FD owners. 

You can choose Stable Money to receive much better returns even up to 9.50% annually on risk-free fixed deposits. To get started, install our app. 

Term Wise Mahindra Finance Fixed Deposit Rates 

The Mahindra Finance fixed deposit rates of 2024-2025 are suitable for customers who prefer safe investing and stable returns over time. Here, you can see how a person can rely on this scheme to reach their different time-based investment goals.

Short Term

Assume that an investor deposits ₹2 lakh in a Mahindra Finance fixed deposit for 1 year. Then as per the latest interest chart, they will be eligible to receive ₹2,15,000 as the maturity sum. Here, they are receiving a 7.50% interest rate, whereas senior citizens would have managed to get ₹2,15,500 with an additional 0.25% interest on the same investment.

Medium Term

Suppose another investor hears about the competitive Mahindra Finance fixed deposit rates and decides to put ₹3,75,000 for 3 years. If they do so, they will potentially have a corpus of ₹4,73,706 at maturity as their principal will grow by ₹98,706 in 3 years. In this case, a senior citizen customer would have received ₹4,77,000 at 8.35% p.a.

Long Term

Now, let’s suppose, a third individual chooses the online Mahindra Finance FD calculator to see 4-year returns for a principal of ₹8 lakh. They would see potential returns of ₹2,90,409 which will make a maturity amount of ₹10,90,409 with an interest of 8.05% per annum. Conversely, at an 8.30% rate, a senior citizen will get ₹3,00,535 returns from Mahindra Finance after a 4-year tenure. 

Benefits of Mahindra Finance Fixed Deposit 

The main benefits of booking Mahindra Finance FD are given below:

• Highly Safe: Opening a fixed deposit with Mahindra Finance is secure as the NBFC comes with an FAAA CRISIL rating.
• Special Rates for Senior Citizens: For Samruddhi FD schemes, senior citizens get an extra 0.25% interest across the different tenures.
• Greater Interest for Mahindra Employees: Those who are part of the Mahindra Group as well as their relatives get 0.35% more for Samruddhi fixed deposit accounts. 

Eligibility to Avail Mahindra Finance Fixed Deposit Rates

All the following entities/individuals can apply for Mahindra Finance fixed deposits:

• Resident Indians
• Companies
• Hindu Undivided Family (HUF)
• Society, association, and club
• Family trust
• Sole proprietorships
• Charitable trusts
• Partnership firms
• Trusts and foundations
• Non-Resident Indians (NRIs)

Documents Required to Avail Mahindra Finance Fixed Deposit Rates

The list of required documents to open an FD varies depending on the applicant type. For instance, individuals who live in India must submit the following documents to open Mahindra Finance FD:

• Permanent Account Number (PAN) card
• Voter identity card
• Driving licence
• Passport
• Unique Identification Authority of India's letter containing details of name, address and Aadhaar
• Any document or number as mentioned by the Central Government of India in consultation with the regulator
• NREGA’ job card, duly signed by an officer of the State Government

All of these document requirements are as per the latest information on the Mahindra Finance official website.

Premature Withdrawal of Mahindra Finance FD

You can break your Mahindra Finance fixed deposit after 3 months from the date of investment. However, there are specific RBI-regulated guidelines that direct premature withdrawal instances. 

If you have opted for a non-cumulative FD with quarterly interest, you will not be allowed to withdraw from the 20th until the last dates of months like March, June, September and December. Similarly, for non-cumulative fixed deposit owners with half-yearly payments, withdrawals are restricted from the 20th until the last date of March and September. 

Tax on Mahindra Fixed Deposit

Currently, you are subject to 10% TDS charges on fixed deposit investments if your annual income from fixed deposit crosses ₹40,000. For those above 60 years of age, this taxation threshold has been set as ₹50,000. 

Why Should You Choose Stable Money to Book LIC Fixed Deposit?

Stable Money always carries a customer-first approach by offering the best FD deals and comparisons in one place. Moreover, you can rely on our pan India presence with more than 10 lakh satisfied customers. 

Although we do not offer Mahindra Finance fixed deposit rates right now, you can turn on our app notifications for the latest updates regarding the rate changes. Fortunately, this widely popular RBI-approved FD provider is set to join us as partners soon. This will make it ten times easier for you to access their investment products via us. 

Upon maturity, we ensure that you do not have to wait and can enjoy instant withdrawal of funds anytime anywhere.