Mahindra Finance provides services in rural and semi-urban zones of India. They provide good rates and secure investment option as fixed deposits. At loanbaba.com, we will share updated information about best fixed deposit rates, FD India schemes of the bank and Mahindra Finance FD rates over all tenures for fixed deposit and term deposit. You will also come to know about popular FD rates, India by the bank for 2017 and FD interest rates that are the highest.
|Time Duration||Regular Rates||Rates for Senior Citizens|
|One and half year||7.50%||7.75%|
Mahindra finance only proposes midterm schemes of fixed deposits. The tenure for which one can hold a fixed deposit at Mahindra Finance starts from one year. The longest period for which an account can be held is five years. 9% rate of interest is provided on one year deposit which is compounded annually. For FDs having a maturity period of 18 months, they provide 9.25% interest rate.
Even when the fixed deposits are held for two, three, four or five years, the holder gets the same interest rate of 9.25%. However, compared to the other contemporary banking institutions, this rate is quite higher; making it seems like a good deal for anyone looking for a long term investment.
Senior citizens get benefit of 0.25% higher rate of interest compared to other customers who get the regular rates. Thus, instead of 9%, they get 9.25% interest on a one year deposit and they can profit the most by investing on a three year FD which yields them a return of 9.5%.
Mahindra Finance offers a variety of investments you can choose from and they have competitive plans compared to other banks that provide similar services.