Fixed Deposits

The company offers 2 schemes - Samruddhi & Dhanvruddhi . For Fixed Deposit to get interest periodically (Monthly, Quarterly, Half yearly & Yearly) by opting for non-cumulative scheme or at maturity with Cumulative deposits.

Individuals, companies, HUFs, body of individuals, association of persons, registered trust/societies, sole proprietorships, partnership firms, clubs, LLP etc can invest in MMFSL fixed deposit scheme.

Note*: Mahindra & Mahindra Financial Services is not registered U/S 11(5) of income tax act, hence Charitable Trust may invest in Mahindra Finance FD at THEIR OWN RISK.

While opening the fixed deposit, all the KYC documents to be furnished

1. Log on https://www.mahindrafinance.com/

2. OR Click on https://fixeddeposit.mahindrafinance.com/WA_FD_EP_LOGIN_5/

3. If you are a new investor having CKYC no. Please follow steps from Rapid Investment or select Regular Investment.

4. There you have to provide your details for investment, and upload KYC document for Ref.

5. Make the online payment, Once the transaction is complete you will get notification for the same on your registered email id.

1. Log on to www.mahindrafinance.com to download the FD application or the same is available at our respective across the counters of MMFSL offices.

2. Kindly submit the dully filled & signed application form along with the investment cheque favouring “MMFSL – FIXED DEPOSITS” & KYC documents of all holders at our respective offices. One can also directly approach our respective Relationship Managers for immediate assistance.

3. If you are a new investor having CKYC no. Please mention the same in the application form.

Note*: The FD Receipt will be sent to your registered Email ID within 7 working days, subject to verification of your KYC documents & amount realization by the company.

ou can make your payments via cheque, debit card & RTGS/NEFT.

Depositors may also renew their respective maturing FD’s through online mode by visiting MMFSL FD customer portal https://fixeddeposit.mahindrafinance.com/WA_FD_EP_LOGIN_5/ ,10 days prior to maturity .

OR

With submission of scan copy of the Fixed Deposit receipt (FDR) (front & back) by selecting /marking appropriate choices with proper signature to renew the FD’s and also confirm the below details:

1. Scheme and tenure

2. Principal Amount or Principal with interest to be renewed

3. Broker code (If applicable)

P.N: The previous broker code shall be captured by default & brokerage shall be payable for such cases .In case of any change in the broke code ,you are requested to update us with the notification for us to make the required changes.

No. Since the money is locked in with us for a specific rate and specific period, you will continue to receive that rate till maturity. If you wish to avail the new rate, we suggest you invest in a new fixed deposit with us.

No, MMFSL fixed deposit cannot be shown under section 80C for tax deduction.

The TDS limit for NBFC FD scheme is till Rs.5000/- interest p.a. In case where the interest amount exceeds Rs. 5,000/- sum of all fixed deposit held with Mahindra finance under single pan number in a financial year, income-tax will be deducted at source.

No need to visit the branch or discharge the FDR receipt; FD proceeds will be directly credited to depositors account registered at the time of maturity in case of auto repayment option.

1. The fund for investment should be received from the first holder account/joint account.

2. In case the funds are received from a third party, upon identifying the source of funds the refund will be processed in the same bank account on or before 7 working days without interest.

3. If the KYC documents are incomplete, the forms will be rejected, and the amount will be returned within 30 days without interest

4. Company reserves the rights:

i) To waive or vary the terms & conditions.

ii) To reject any application for a fresh Deposit or for renewal without assigning any reason

iii) To repay the deposit prematurely before the due date.
Acceptance, renewal, and repayment of fixed deposit shall be subject to the Non–Banking Financial Companies Acceptance of Public Deposit (Reserve Bank) Direction, 1998, as mentioned from time to time.

Fixed Deposits are one of the best savings-cum-investment instruments in India that offer assured returns of interest rate. The working of FD is quite simple. You can open an FD account with Mahindra Finance and invest a lump sum amount for a pre-determined period.

At the end of the investment tenure, you get the principal amount and the accrued interest. If you have surplus funds, you can open an FD account Mahindra Finance and get attractive returns, up to 8.05% per annum. If you are a senior citizen, you get up to 0.25% higher interest rate than the interest offered to regular investors.

FDs are one of the go-to investment options among investors in India for several reasons, including:

• Anyone can invest in FD online, you need not have any financial knowledge.
• It provides assured returns at fixed interest rate, making it an ideal investment choice for risk-averse investors.
• The prevailing market conditions do not have any effect on the returns.
• You can start investing in FD with as small an amount as Rs. 5000 and invest up to Rs.5 crore
• If you are a senior citizen, you get higher returns
• It is an excellent investment option to secure your retirement and achieve long-term goals
• You can also invest in an FD and keep the amount as an emergency fund while allowing your savings to grow every year.

So, open an fixed deposit with Mahindra Finance, and enjoy all these benefits.

The minimum amount that you can invest in a fixed deposit account varies from one financial institution to another. At Mahindra Finance, we accept investors to open a FD account with an amount as small as Rs. 5000.

You have the flexibility to invest any amount as you want up to Rs. 5 crore. Also, you have the freedom to choose the investment tenure; the maximum period is five years, after which you can renew the account and continue growing your savings.

The most significant benefit of FD is that it carries zero risk and gives you assured returns, allowing you to plan your finances better.

At Mahindra Finance, we have a minimal documentation requirement for all, including senior citizen FD, allowing you to open an FD account without any hassles. You only have to submit a few basic documents, including:

• Passport
• Driving licence
• PAN (Permanent Account Number) Card
• Voter ID card

You can submit any of these documents as identity and address proof. Apart from these papers, you must fill out the application form and sign it. Also, since we offer online services, you need not worry about carrying the physical documents, just scan and upload them on your computer and send us the soft copies.

The documents required for senior citizens are the same as it is for other regular investors. The paperwork may differ only if you want to open an FD account as a company, firm, club, association, charitable trust, etc. You can refer to the documents required section to get a full list of documents needed.

At Mahindra Finance, we offer higher interest rates for senior citizen investors. The NBFC interest rate for fixed deposits is 0.25% higher for senior citizens. The interest rate you receive is contingent on the interest payout term you select. Opting for an annual interest payout ensures the maximum interest on your FD investment.

Any individual (both Indian resident and Non-Resident Indian), company, club, charitable trust, family trust, HUF (Hindu Undivided Family) can invest in a fixed deposit at Mahindra Finance. Investing in a fixed deposit investment plan is an excellent way to grow your savings and get assured return at a fixed interest rate.

At Mahindra Finance, you can open an FD account with as little as Rs. 5000 and get valuable returns up to 8.05% per annum. Also, opening an FD account with us is easy, you can do it online from the convenience of your home or office. We also give you the flexibility to choose the investment tenure to suit your needs.

So, open an FD account with Mahindra Finance now and take the first towards your long-term investment goals.

Tax-saver FD schemes allow you to get tax benefits on the interest earned from your investment. You can enjoy tax benefits of up to Rs. 1.5 lakh in a financial year under Section 80C of the Indian Income Tax. Thus, tax saving FD allows you to reduce your overall annual tax liability and, at the same time, earn valuable returns on your investments in the form of a fixed interest rate.

In addition, you can enjoy benefits like financial stability as there is zero risk of loss. At the end of the FD tenure, you get the principal amount and the accrued interest back. The prevailing market condition has no impact on the returns you get.

Investors can open a Fixed Deposit with Mahindra Finance to an investment limit of up to ₹25 crores. The initial investment can be as affordable as ₹5000.

Here are a few benefits of choosing fixed deposit with Mahindra Finance:

• Guaranteed returns: FDs are considered safer than shares or mutual funds, with credit ratings by agencies like India Ratings & Research ensuring the security of invested funds.
• Higher Interest Rates: Mahindra Finance offers higher interest rates of up to 8.05% and 0.25% additional interest rates for senior citizens.
• Low Minimum Investment: These FDs allow investments as low as INR 5,000, providing accessibility to a wide range of investors.
• Flexibility: Investors can choose between cumulative and non-cumulative options, with the latter offering regular interest payments. Premature withdrawal is possible, subject to RBI rules.
• Loan Facility: FDs allow individuals to avail loans against their deposits, up to 75% of the deposit amount, after three months, with affordable interest rates.
• Tax Savings: There are tax-saving FDs that offer tax benefits, with investments up to INR 1.5 lakh under Section 80C, provided the deposit is held for a minimum of five years.