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 & CRISIL AAA/Stable rating by CRISIL Ratings

That’s why we say Fixed Deposits #EvergreenHai.

  • Features & Benefits
  • Eligibility and Documentation
  • FAQs

Features & Benefits

  • The MMFSL Fixed Deposit has a IND AAA/Stable rating by India Ratings & CRISIL AAA/Stable rating by CRISIL Ratings 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 offered by MMFSL Fixed Deposit?
+What is the difference between a Non-cumulative Fixed deposit and a Cumulative deposit?
+Who can invest in MMFSL Fixed Deposit?
+What is the process to open a Fixed Deposit via online mode?
+What is the process to open a Fixed Deposit via offline mode?
+What are the various modes through which I can make my payment?
+Are there any special rates applicable for specific category of applicants?
+Can a joint Deposit account be opened?
+Can a Deposit be placed in the name of a Minor?
+Can a Power of Attorney (POA) holder sign the Deposit Application Form?
+What are options for Renewal of a Cumulative Deposit Receipt?
+Are there any additional benefits on renewal of FD?
+What is the procedure for Renewal of my Fixed Deposit?
+What is the procedure for Revalidation of my Cheque/ DD or Unclaimed payments?
+MMFSL has changed the FD rates. Will those new rates be applicable for my existing deposits?
+What are the service facilities at MMFSL that will be offered to me?
+Does MMFSL Fixed Deposit investment provide tax exemption?
+When will the TDS be applicable on my Fixed Deposit investment?
+When can I submit Form 15G/H for non- deduction of TDS?
+What are the various modes through which I can submit Form 15G/H?
+When will MMFSL issue a TDS certificate?
+When will MMFSL issue an Interest certificate?
+When is TDS deducted in case of MMFSL Fixed Deposit?
+Do I need to visit branch or submit the Fixed Deposit receipt to receive the proceeds on maturity?
+What is the process to apply for Premature/ pre-closure withdrawal?
+What is the rate of interest chargeable for loans?
+Loan against Fixed Deposits:
+How can I apply for duplicate FDR receipt?
+Do you accept Non-Resident Indian (NRI) Deposits?
+What are the terms and condition for NRI Deposits?
+How can I claim the unclaimed interest or maturity amount?
+When does the Unclaimed Amount go to Investor Education and Protection Fund(IEPF)?
+How can I claim the Unclaimed amount from the company or IEPF? What is the procedure?
+Cancellation policy

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 16th March 2023.

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 6016 7.65% 8.13%
42 6497 7.75% 8.55%

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

  • 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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

Dhanvruddhi Non-Cumulative Scheme applicable for deposits upto 2 crore- 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 7.15% 7.25% 7.40% 7.65%
42 7.25% 7.35% 7.50% 7.75%
Minimum Amount Rs. 50,000 Rs. 25,000

 

**Additional FD Interest Rates: Senior Citizen 0.25%

  • 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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

Samruddhi Cumulative/Non-Cumulative Schemes applicable for Deposits 2 Crore through physical & Online mode

Minimum Amount Period (Months) Amount Payable(Rs.) Interest p.a.*(%) Effective Yield p.a.**(%)
Rs.5,000/- 12 5370 7.40% 7.40%
24 5789 7.60% 7.89%
36 6246 7.70% 8.31%
48 6740 7.75% 8.70%
60 7262 7.75% 9.05%

 

**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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

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 7.05% 7.10% 7.15% 7.40%
24 7.10% 7.20% 7.35% 7.60%
36 7.20% 7.30% 7.45% 7.70%
48 7.25% 7.35% 7.50% 7.75%
60 7.25% 7.35% 7.50% 7.75%
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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

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.2,00,00,001 12 21480000 7.40% 7.40%
24 23155520 7.60% 7.89%
36 24984871 7.70% 8.31%
48 26958710 7.75% 8.70%
60 29048010 7.75% 9.05%

 

  • 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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

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 7.10% 7.15%
24 7.20% 7.35%
36 7.30% 7.45%
48 7.35% 7.50%
60 7.35% 7.50%

 

  • 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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

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*** 53700000 7.40% 7.40%
24 57888800 7.60% 7.89%
36 62462177 7.70% 8.31%
48 67396776 7.75% 8.70%
60 72620026 7.75% 9.05%

 

  • 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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

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 7.10% 7.15%
24 7.20% 7.35%
36 7.30% 7.45%
48 7.35% 7.50%
60 7.35% 7.50%

 

  • 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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

Minimum Amount Period(Months) Amount Payable(Rs.) Interest p.a.*(%) Effective Yield p.a.**(%)
Rs.25,00,00,000/- 12 268750000 7.50% 7.50%
  • 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.
  • ·
  • Employees/Employees’ relatives and Retired Employees/Retired Employees’ relatives will get an additional rate of 0.35% p.a for deposits upto Rs. 2 Crore (All Mahindra Group
  • Government approved relationship proof documents to be furnished. Employee must be the second applicant. The additional rate of 0.35% is not applicable for Dhanvruddhi Deposits.
  • ‡The additional rate of 0.25% and 0.35% is not applicable for Samruddhi deposits above Rs. 2 Crore.
  • †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 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.
  • $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
  • *** Applicable only for 12 months Cumulative Upto Rs. 24.9999 Crores.

Fixed Deposit Contact Us

Ms. Sunita Pawar

Toll free number:1800 266 9266

Contact no:022-66423966,022-66523718/ 3664

[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
No.37 & 38, 4th Floor, ASV Ramana Tower,
Venkatnarayana Road, T Nagar,
Chennai, Tamil Nadu 600017

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.

emailEmail: [email protected]

callToll free number: 1800 233 1234 (Mon–Sun, 8am to 10pm)

(Except National Holidays)

whatsappWhatsApp number: 7066331234

Click here to locate the nearest Mahindra Finance branch around you

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