Fixed Deposit

In these uncertain times, get the most of your hard-earned money with safe and secure Fixed Deposits. Mahindra Finance Fixed Deposits offers better Interest rates with highest safety indicated by IND AAA / Stable rating by India Ratings.
That’s why we say Fixed Deposits #EvergreenHai.

  • Features & Benefits
  • Eligibility and Documentation
  • FAQs

Features & Benefits

  • The MMFSL Fixed Deposit has a India Ratings – ‘IND AAA / Stable’ which indicates highest safety
  • 0.25% additional interest rate for senior citizens for Samruddhi Fixed Deposits
  • 0.35% additional interest rate for all Mahindra group company employees & their relatives for Samruddhi Fixed Deposits

Eligibility and Documentation

+For Resident Individuals
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+For Companies
+For Non-Resident Indians (NRI)
+For Partnership Firms
+For Trusts and Foundations
+Charitable Trust
+HUF
+ Family Trust
+Sole Proprietorship
+Club, Association, Society

FAQs

+What are the schemes of deposits available?
+What is the difference between a non-cumulative deposit and a cumulative deposit?
+ What is the minimum deposit amount for the cumulative deposit & the non-cumulative deposit schemes?
+How do I tender the amount for the deposit?
+Is there a prescribed form for making deposit?
+If parents for the minor are not alive, then who is to be deemed as the guardian?
+Can a deposit be made in the name of minor alone?
+Can a power of the Attorney (POA) holder sign the deposit application form?
+Is there an extra interest rate for the senior citizen?
+Can a joint account be maintained?
+How do I change my correspondence address and the other personal details?
+Can a trust invest in FD?
+Can a company invest in FD?
+Is there any brokerage/incentive for deposits?
+Do you offer monthly interest on deposits?
+What are the modes by which the interest is paid?
+Interest warrants are drawn from which bank?
+Can you send the interest warrants favoring the second depositors?
+When will the interest be credited in a non-cumulative scheme?
+What happens if the prevalent interest rates come down?
+What happens if the prevalent interest rate goes up?
+When is Income Tax deducted at source from interest?
+What is Form 15G and Form 15H and where do I get it from?
+What is the difference between Form 15G and the Form 15H?
+Is it not enough to furnish the Form only once at the time of placing the deposit?
+What type of certificate do you get for the tax deducted at source and how is the certificate generated?
+In case of salaried person, if the income tax is deducted at source from salary, can he/she furnish 15G/15H?
+Can you open more than one account in the same order of names?
+In case there is an urgent need of money, can a withdrawal be made from deposits?
+Will a certificate be generated even if no tax has been deducted?
+What will be the address printed on the TDS Certificates?
+What to do if there is change in the address?
+When will the TDS certificate will dispatched?
+How to view the credit of the Tax Deducted (TDS) by the company?
+What is the significance of furnishing Permanent Account Number?
+Is it not enough to furnish the Form only once at the time of placing the deposit?
+In case if there is an urgent need for money, can a withdrawal be made from deposit?
+Can a withdrawal be made from the deposit after 3 months?
+Can a premature proceeding be paid favoring the second/third depositor?
+Will the deposit be paid back in cash?
+Can you send the payments directly to the depositor's bank?
+What is the process of taking premature withdrawal?
+Will you allow loan on deposit?
+What is the rate of interest chargeable for loans?
+If the sole depositor dies, what are the documents required?
+Do you accept NRI deposits?
+Can I apply online?
+How can I renew the deposit?
+What are options of renewal?
+Are there any Pre-closure Instructions?

Fixed Deposit Interest Rates

In these times of uncertain returns, fixed deposits have become the most preferred banking instruments for planning a financially worry-free future for the family. Which is why Mahindra Finance’s Fixed Deposit scheme has been specially designed to assure you of guaranteed returns at highly competitive interest rates with this low-risk investment.

Fixed Deposit rates w.e.f 26th July 2022.

Dhanvruddhi Cumulative - Fixed Deposit Interest Rates Only for online investors through Mahindra Finance website and online mode

Minimum Amount (Rs). Tenure Amount Payable(Rs.) Interest p.a* Effective Yield p.a**
Rs.5,000/- 30 5890 6.75% 7.12%
42 6371 7.15% 7.83%

**Additional FD Interest Rates: Senior Citizen 0.20%.

  • Note:
  • †Additional amount will be accepted in multiples of Rs. 1,000/- and thereafter.
  • The Non-Cumulative interest will be paid through NACH/NEFT. The date for interest payment will be , for Half yearly on 30th September and 31st march, for Quarterly and on 30th June, 30th September, 31st December and 31st March, for Yearly on 31st March and for Monthly on the last working day of the month. If the deposit is made within a period of 1 month prior to any of the payout date, the interest of part period will be paid on the next interest payment date without any deferral interest for the broken period .
  • **Compounded Annually- In case of Cumulative Deposits, Interest is compounded before deduction of Tax.
  • Dhanvruddhi - Cumulative and Non - Cumulative Deposits: Applications to be submitted through online mode only.

Dhanvruddhi Non-Cumulative Scheme applicable for deposits up to 50 lakhs- only for online investors through Mahindra Finance website and online mode

Period (Months) Interest p.a.*(Monthly) Interest p.a.*(Quarterly) Interest p.a.*(Half-yearly) Interest p.a.* (Yearly)
30 6.20% 6.55% 6.65% 6.75%
42 6.60% 6.95% 7.05% 7.15%
Minimum Amount Rs. 50,000 Rs. 25,000

 

**Additional FD Interest Rates: Senior Citizen 0.20%

  • Note:
  • Senior Citizens will get an additional interest rate of 0.25% p.a. for Samruddhi Deposits and 0.20% p.a. additional rate for Dhanvruddhi Deposits
  • Employees/Employees' relatives and Retired Employees/Retired Employees' Relatives will get additional rate of 0.35% p.a. for deposits upto Rs. 50 Lakhs(All Mahindra Group Company Employees). Government approved relationship proof documents to be furnished. Employee must be second applicant. The additional rate of 0.35% is not applicant for Dhanvruddhi Deposits. The additional rate of 0.25% and 0.35% is not applicable for Samruddhi Deposits above Rs. 50 lakhs.
  • †Additional amount will be accepted in multiples of Rs. 1,000/- and thereafter
  • #The Non-Cumulative interest will be paid through NACH/NEFT. The date for interest payment will be , for Half yearly on 30th September and 31st march, for Quarterly and on 30th June, 30th September, 31st December and 31st March, for Yearly on 31st March and for Monthly on the last working day of the month. If the deposit is made within a period of 1 month prior to any of the payout date, the interest of part period will be paid on the next interest payment date without any deferral interest for the broken period .
  • **Compounded Annually-In case of cumulative deposit, interest is compounded before deduction of Tax.
  • Samruddhi- Cumulative and Non-Cumulative Deposits : Applications can be submitted physically or through online mode. Dhanvruddhi - Cumulative and Non-Cumulative Deposits: Applications to be submitted through online mode only.

Samruddhi Cumulative/Non-Cumulative Schemes applicable for Deposits upto 50 Lakhs through physical & Online mode

Minimum Amount Period (Months) Amount Payable(Rs.) Interest p.a.*(%) Effective Yield p.a.**(%)
Rs.5,000/- 12 5288 5.75% 5.75%
24 5671 6.50% 6.71%
36 6125 7.00% 7.50%
48 6554 7.00% 7.77%
60 7013 7.00% 8.05%

 

**Additional FD Interest Rates: Senior Citizen 0.25%.

M&M group company Employee,Employees relatives,M& M group company Retired Employees will get an additional 0.35% FD interest rate.

  • Note:
  • *Senior citizens will get an additional interest rate of 0.25% p.a. for Samruddhi deposits and 0.25% p.a. additional rate for Dhanvruddhi deposits upto Rs. 50 Lakhs (All Mahindra Group Company Employees).
  • ‡Employees /Employees' relatives and Retired Employees / Retired Employees' relatives will get an additional rate of 0.35% p.a. for deposits upto Rs. 50 lakhs. (all Mahindra Group Company Employees). Government approved relationship proof documents to be furnished. The employee must be the second applicant.
  • ‡The Additional rate of 0.25% and 0.35% is not applicable for deposits above Rs. 50 Lakhs.
  • ‡Additional amount will be accepted in multiples of Rs. 1,000/- and thereafter.
  • #The Non-Cumulative interest will be paid through NACH/NEFT. The date for interest payment will be, for Half-yearly on 30th September and 31st March, for the Quarterly on 30th June, 30th September, 31st December & 31st March, for Yearly on Interest Payment Half Yearly 31st March, and for Monthly on the last working day of the Month.
  • If the Deposits is made within a period of 1 month prior to any of the payout date, the interest of part period will be paid on the next interest payout date.
  • **Compounded Annually-In case of Cumulative Deposits, interest is compounded before deduction of Tax.
  • $ Samrudhi- Cumulative and Non-Cumulative Deposites: Application can be submitted physically or through online mode.

Samruddhi Cumulative/Non Cumulative Schemes - Fixed Deposit Interest Rates Only through Physical applications

Period (Months) Interest p.a.*#/‡(Monthly) Interest p.a.*#/‡(Quarterly) Interest p.a.*#/‡(Half yearly) Interest p.a.*#/‡(Yearly)
12 5.20% 5.55% 5.65% 5.75%
24 5.95% 6.30% 6.40% 6.50%
36 6.45% 6.80% 6.90% 7.00%
48 6.45% 6.80% 6.90% 7.00%
60 6.45% 6.80% 6.90% 7.00%
Minimum Amount  Rs.50,000  Rs.25,000

**Additional FD Interest Rates: Senior Citizen 0.25%.

M&M group company Employee,Employees relatives,M& M group company Retired Employees will get an additional 0.35% FD interest rate.

  • Note:
  • *Senior citizens will get an additional interest rate of 0.25% p.a. for Samruddhi deposits and 0.25% p.a. additional rate for Dhanvruddhi deposits upto Rs. 50 Lakhs (All Mahindra Group Company Employees).
  • ‡Employees /Employees' relatives and Retired Employees / Retired Employees' relatives will get an additional rate of 0.35% p.a. for deposits upto Rs. 50 lakhs. (all Mahindra Group Company Employees). Government approved relationship proof documents to be furnished. The employee must be the second applicant.
  • ‡The Additional rate of 0.25% and 0.35% is not applicable for deposits above Rs. 50 Lakhs.
  • ‡Additional amount will be accepted in multiples of Rs. 1,000/- and thereafter.
  • #The Non-Cumulative interest will be paid through NACH/NEFT. The date for interest payment will be, for Half-yearly on 30th September and 31st March, for the Quarterly on 30th June, 30th September, 31st December & 31st March, for Yearly on Interest Payment Half Yearly 31st March, and for Monthly on the last working day of the Month.
  • If the Deposits is made within a period of 1 month prior to any of the payout date, the interest of part period will be paid on the next interest payout date.
  • **Compounded Annually-In case of Cumulative Deposits, interest is compounded before deduction of Tax.
  • $ Samrudhi- Cumulative and Non-Cumulative Deposites: Application can be submitted physically or through online mode.

Samruddhi Cumulative/Non Cumulative Schemes - Fixed Deposit Interest Rates Only through Physical applications

Minimum Amount Period (Months) Amount Payable(Rs.) Interest p.a.*(%) Effective Yield p.a.**(%)
Rs.50,00,000/- 12 5287500 5.75% 5.75%
24 5671125 6.50% 6.71%
36 6125215 7.00% 7.50%
48 6553980 7.00% 7.77%
60 7012759 7.00% 8.05%

 

  • Note:
  • ‡Additional amount will be accepted in multiples of Rs. 1,000/- and thereafter.
  • # The Non-Cumulative interest will be paid through NACH/NEFT. The date for interest payment will be, for Half-yearly on 30th September and 31st March, for the Quarterly on 30th June, 30th September, 31st December & 31st March, for Yearly on Interest Payment Half Yearly 31st March and for Monthly on the last working day of the Month. If the deposit is made within a period of 1 month prior to any of the payout date, the interest of the part period will be paid on the next payment date without any deferral interest for the broken period.
  • **Compounded Annually-In case of Cumulative Deposits, interest is compounded before deduction of Tax.
  • $ Samrudhi- Cumulative and Non-Cumulative Deposits: Application can be submitted physically or through online mode.

Samruddhi Cumulative/Non Cumulative Schemes - Fixed Deposit Interest Rates Only through Physical applications

Period (Months) Interest p.a.*#/‡(Quarterly) Interest p.a.*#/‡(Half yearly)
12 5.55% 5.65%
24 6.30% 6.40%
36 6.80% 6.90%
48 6.80% 6.90%
60 6.80% 6.90%

 

  • Note:
  • ‡Additional amount will be accepted in multiples of Rs. 1,000/- and thereafter.
  • # The Non-Cumulative interest will be paid through NACH/NEFT. The date for interest payment will be, for Half-yearly on 30th September and 31st March, for the Quarterly on 30th June, 30th September, 31st December & 31st March, for Yearly on Interest Payment Half Yearly 31st March and for Monthly on the last working day of the Month
  • **Compounded Annually-In case of Cumulative Deposits, interest is compounded before deduction of Tax.
  • $ Samrudhi- Cumulative and Non-Cumulative Deposits: Application can be submitted physically or through online mode.

Samruddhi Cumulative/Non Cumulative Schemes - Fixed Deposit Interest Rates Only through Physical applications

Minimum Amount Period (Months) Amount Payable(Rs.) Interest p.a.*(%) Effective Yield p.a.**(%)
Rs.5,00,00,000/- 12 53000000 6.00% 6.00%
24 56711250 6.50% 6.71%
36 61252150 7.00% 7.50%
48 65539801 7.00% 7.77%
60 70127587 7.00% 8.05%

 

  • Note:
  • ‡Additional amount will be accepted in multiples of Rs. 1,000/- and thereafter.
  • # The Non-Cumulative interest will be paid through NACH/NEFT. The date for interest payment will be, for Half-yearly on 30th September and 31st March, for the Quarterly on 30th June, 30th September, 31st December & 31st March, for Yearly on Interest Payment Half Yearly 31st March, and for Monthly on the last working day of the Month.
  • If the Deposits is made within a period of 1 month prior to any of the payout date, the interest of part period will be paid on the next interest payout date.
  • **Compounded Annually-In case of Cumulative Deposits, interest is compounded before deduction of Tax.
  • $ Samrudhi- Cumulative and Non-Cumulative Deposits: Application can be submitted physically or through online mode.

Samruddhi Cumulative/Non Cumulative Schemes - Fixed Deposit Interest Rates Only through Physical applications

Period (Months) Interest p.a.*#/‡(Quarterly) Interest p.a.*#/‡(Half yearly)
12 5.80% 5.90%
24 6.30% 6.40%
36 6.80% 6.90%
48 6.80% 6.90%
60 6.80% 6.90%

 

  • Note:
  • ‡Additional amount will be accepted in multiples of Rs. 1,000/- and thereafter.
  • # The Non-Cumulative interest will be paid through NACH/NEFT. The date for interest payment will be, for Half-yearly on 30th September and 31st March, for the Quarterly on 30th June, 30th September, 31st December & 31st March, for Yearly on Interest Payment Half Yearly 31st March, and for Monthly on the last working day of the Month.
  • If the Deposits is made within a period of 1 month prior to any of the payout date, the interest of part period will be paid on the next interest payout date.
  • **Compounded Annually-In case of Cumulative Deposits, interest is compounded before deduction of Tax.
  • $ Samrudhi- Cumulative and Non-Cumulative Deposits: Application can be submitted physically or through online mode.

Fixed Deposit Application

Fixed Deposit Contact Us

Ms. Sunita Pawar

Toll free number:1800 266 9266

[email protected] / [email protected]

Grievance Escalation

Help us with your matter of concern for us to
improve, if your request is not responded on
time or if you are not satisfied with our
executive’s response, you may write to the
below mentioned Email Id for an independent
assessment of your grievance or query:

[email protected]

Head office

Mahindra & Mahindra Financial Services Ltd.
2nd Floor, Sadhana House,
Behind Mahindra Tower,
570 PB Marg, Worli,
Mumbai, Maharashtra-400018, India

Fixed Deposit Processing Centre

Mahindra & Mahindra Financial Services Ltd
New No. 244, Old No. 713, 3rd Floor, Level 4,
Rear Block, CarexCenter, Anna Salai, Thousand Lights,
Chennai, Tamil Nadu 600006

Get in Touch

Mahindra & Mahindra Financial Services Limited
4th Floor, Mahindra Towers,
Dr. G.M. Bhosale Marg,
P.K. Kurne Chowk, Worli,
Mumbai 400 018.

Click here to locate the nearest Mahindra Finance

Calculate Your EMI

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Loan Amount
Tenure In Months
Rate of Interest %
Principal: 75 %
Interest Payable: 25 %

For illustration purpose only

Total Amount Payable

50000

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