Mahindra Finance Fixed Deposit Interest Rates

Mahindra Finance Fixed Deposit Interest Rates
Minimum Deposit Amount
  • Rs. 5,000 under Samruddhi Cumulative Scheme
  • Rs. 25,000 and Rs. 50,000 under Samruddhi Non-Cumulative Scheme depending on the interest payout frequency
Tenure 12 months to 60 months
Interest Rate 4.80% to 6.45%

Mahindra Finance Fixed Deposit Interest Ratesare different for cumulative and non-cumulative schemes. For the Samruddhi Cumulative Scheme with a deposit of up to Rs. 1 crore, the rate is between 5.50% to 6.45%. For Samruddhi Non-Cumulative Scheme up to Rs. 1 crore deposit, the rate is between 4.95% and 6.45% depending on the deposit amount and interest payout frequency. For a bulk deposit of Rs. 1 crore to Rs. 5 crores under the cumulative scheme, the interest rate is between 5.00% to 5.70%.

For a bulk deposit of Rs. 1 crore to Rs. 5 crores under a non-cumulative scheme, the rate is between 5.05% to 5.90% depending on the interest payout frequency. For bulk deposits over Rs. 5 crores under the cumulative scheme, the rate is between 5.00% to 5.70%. For bulk deposits over Rs. 5 crores under a non-cumulative scheme, the rate is between 4.80% to 5.60% depending on the deposit amount, tenure, and interest payout frequency.

In this post, we will discuss Mahindra Finance Fixed Deposit Interest Rate according to the cumulative and non-cumulative scheme, even for bulk deposits. We will also run you through a few frequently asked questions.

1. Mahindra FinanceSamruddhi Cumulative Scheme (up to 1 Cr.)

You can apply for this deposit scheme offline or online. Here are more details of this FD scheme:

Minimum Deposit Amount Tenure in Months Interest Rate Per Annum Amount to Pay in INR Effective Yield
Rs.5,000/-
12 5.50% 5275 5.50%
24 6.00% 5618 6.18%
36 6.30% 6006 6.71%
48 6.45% 6420 7.10%
60 6.45% 6834 7.34%

2. Mahindra FinanceSamruddhi Non-Cumulative Scheme (up to 1 Cr.)

You can open the FD account through a physical application. Here is more information:

Tenure in Months Interest p.a.(Monthly Payout) Interest p.a. (Quarterly Payout) Interest p.a.(Half-yearly Payout) Interest p.a.(Yearly Payout)
12 4.95% 5.30% 5.40% 5.50%
24 5.45% 5.80% 5.90% 6.00%
36 5.75% 6.10% 6.20% 6.30%
48 5.90% 6.25% 6.35% 6.45%
60 5.90% 6.25% 6.35% 6.45%
Minimum Amount Rs.50,000 Rs.25,000

3. Mahindra FinanceBulk deposit (1 Cr. up to 5 Cr.)- Cumulative Scheme

You can open the FD account through a physical application. Here are the details:

Minimum Amount Tenure in Months Amount to Pay in INR Interest p.a. Effective Yield p.a.**
Rs.10,000,000/-
12 10525000 5.25% 5.25%
24 11130250 5.50% 5.65%
36 11876484 5.90% 6.25%
48 12577196 5.90% 6.44%
60 13382256 6.00% 6.76%

4. Mahindra FinanceBulk deposit (1 Cr. up to 5 Cr.)- Non-Cumulative Scheme

You can open the FD account through a physical application. Here are the details:

Tenure in Months Interest p.a.(Half-yearly Payout) Interest p.a.(Quarterly Payout)
12 5.15% 5.05%
24 5.40% 5.30%
36 5.80% 5.70%
48 5.80% 5.70%
60 5.90% 5.80%

5. Mahindra FinanceBulk deposit (above 5 Cr.)- Cumulative Scheme

You can open the FD account through a physical application. Here are the details:

Minimum Amount Tenure in Months Amount to Pay Interest p.a. Effective Yield p.a.**
Rs.50,000,000/-
12 52500000 5.00% 5.00%
24 55493113 5.35% 5.49%
36 59046610 5.70% 6.03%
48 62412266 5.70% 6.21%
60 65969766 5.70% 6.39%

6. Mahindra FinanceBulk deposit (above 5 Cr.) Non-Cumulative Scheme

You can open the FD account through a physical application. Here is more information:

Minimum Amount Tenure in Months Interest p.a. (Half-yearly Payout) Interest p.a.(Quarterly)
Rs.50,000,000/-
12 4.90 4.80%
24 5.25 5.15%
36 5.60 5.50%
48 5.60 5.50%
60 5.60 5.50%

Frequently Asked Questions about Mahindra Finance FD Rates

Here are the Mahindra Finance Fixed Deposit Interest Rates FAQs:

Senior citizens will receive an additional interest rate of 0.25% for deposits up to Rs. 1 crore on the applicable Mahindra Finance Fixed Deposit schemes. This rate does not apply on deposits over Rs. 1 crore.

Deposit amount to be submitted in the multiples of Rs. 1,000 after the initial deposit.

In the case of non-cumulative interest, the earned interest is paid through NEFT or NACH. The interest payout is done half-yearly on September 30 and March 31. In the case of quarterly payout, the interest is credited on June 30, September 30, December 31, and March 31. For yearly interest payment, the date is March 31, or the last working day of March.

For M&M Group Company employees and their relatives, retired employees will earn 0.35% additional interest over the standard rate for deposits of up to Rs. 1 crore. This rate does not apply on deposits over Rs. 1 crore.

If you deposit within a month before any of the payment dates, then the interest earned for the part period is paid on the following payout date.

Interest is compounded before tax deduction in the case of annually compounded cumulative deposits.

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