As per the latest rates, a regular citizen can secure 6.60%-7.00% annualised interest from Mahindra Finance fixed deposits. Besides this, a 0.35% additional interest is offered to the senior citizen customers for Samruddhi Deposits and 0.20% p.a for Dhanvruddhi Deposits. 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 7.35% while for general citizens it is 7.00% for a period of 5 years. 

Accordingly, if you are below 60 and decide to invest ₹80,000 for 5 years, you will get ₹32204 as interest returns at maturity. Hence, your corpus will be ₹1,12,204.  

You can choose Stable Money to get returns of up to 8.30% pa.a on fixed deposits. Download the Stable Money app for more details.

Term Wise Mahindra Finance Fixed Deposit Rates 

The Mahindra Finance fixed deposit rates 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

A short term investment of 1 year tenure in Fixed Deposit in Mahindra Finance for regular citizens will get them 6.60% p.a. and 6.95% p.a. for senior citizens.

Medium Term

A medium term fixed deposit investment for a tenure of 2 years and 3 years will give regular citizens 7.00% p.a., while senior citizens will get 7.35% p.a. returns.

Long Term

An investment for 3+ years to 5 years in Fixed deposit at Mahindra Finance will give regular citizens 7.00% p.a. The senior citizens will get returns of 7.35% p.a. to senior citizens. 

Benefits of Mahindra Finance Fixed Deposit Rates

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 0.35% 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

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 Finance Fixed Deposit Interest

Currently, you are subject to 10% TDS charges on fixed deposit investments if your annual income from fixed deposit interest crosses ₹50,000. For those above 60 years of age, this taxation threshold has been set as ₹1,00,000. You need to submit your PAN details with the bank or you will pay TDS at 20% rate.

Mahindra Finance Overdraft Against Fixed Deposit

Mahindra Finance offers the facility of an overdraft against fixed deposit. The overdraft can be given for up to 75% of the deposit amount with minimum FD investment for 3 months and minimum FD investment of Rs. 5000. They levy 2% above the decided FD rate as overdraft charges. The repayment is settled at the time of FD maturity.

Mahindra Finance Bank FD Calculator

Calculate FD returns on Mahindra Finance Fixed Deposit using the FD calculator. Just input your investment amount, tenure, interest rate and payout term to check your Mahindra Finance FD returns.

Why Should You Book an FD with Stable Money?

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 30 lakh satisfied customers. 

You can compare Mahindra Finance FD with other fixed deposit providers and book FD instantly without any hassle. 

Download the Stable Money app now to get up to 8.30% returns on your Fixed Deposit