Mahindra Finance FD Rates

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Mahindra Finance FD

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Mahindra Finance is one of the leading Non-Banking Financial Companies (NBFC) that allows its customers to invest their money in fixed deposits and earn interest at relatively higher rates. Mahindra Finance fixed deposit schemes are of two types – Dhanvruddhi (online) and Samruddhi (offline).

Types of Mahindra Finance Fixed Deposit Schemes
Mahindra Finance Fixed Deposit Eligibility Criteria
Valid Documents for Mahindra Finance Fixed Deposit

Types of Mahindra Finance Fixed Deposit Schemes

Mahindra Finance fixed deposits are categorised under two sections:

Both the schemes are available for cumulative as well as non-cumulative options. Cumulative schemes are those where the interest is calculated quarterly or half-yearly and is paid at the time of maturity. In non-cumulative schemes, the interest is paid on a monthly, quarterly, half-yearly or yearly basis as chosen by the depositor.

Dhanvruddhi Scheme

People can invest in this scheme only through the online mode by visiting the company’s website. Depositors can choose whether they want a cumulative or non-cumulative scheme.

Features of Dhanvruddhi Scheme

Features of Dhanvruddhi Scheme (Online)
  • Minimum investment amount (cumulative) – ₹ 5,000
  • Maximum investment amount – ₹ 99 Lakhs
  • Additional amount can be deposited in multiples of ₹ 1,000
  • Minimum investment amount (non-cumulative, interest paid yearly) – ₹ 50,000
  • Minimum investment amount (non-cumulative, interest paid monthly) – ₹ 1,50,000
  • All Mahindra Group employees and their relatives get additional interest rate of 0.35%
  • The minimum deposit amount for Mahindra Group employees/relatives is ₹ 1000 and in multiples of ₹ 500 thereafter.
  • Minors are also eligible for depositing money in these schemes.

Dhanvruddhi Cumulative Scheme Interest Rate

Tenure

(in months)

 Interest Rate (in % p.a.)
Regular Senior Citizen
15 8.25% 8.35%
20 8.35% 8.45%
27 8.60% 8.70%
33 8.75% 8.85%
40 8.75% 8.85%

Dhanvruddhi Non-Cumulative Scheme Interest Rate

Tenure

(in months)

 Interest Rate (in % p.a.) Interest paid yearly Interest Rate (in % p.a.) Interest paid monthly
Regular Senior Citizen Regular Senior Citizen
15 8.25% 8.35% 7.75% 7.85%
20 8.35% 8.45% 8.00% 8.10%
27 8.60% 8.70% 8.10% 8.20%
33 8.75% 8.85% 8.25% 8.35%
40 8.75% 8.85% 8.25% 8.35%

Samruddhi Scheme

People have to visit that branch and fill the physical form to invest in this scheme. Depositors can also choose whether they want a cumulative or non-cumulative scheme.

Features of Samruddhi Scheme

Features of Samruddhi Scheme (Offline)
  • Minimum investment amount (cumulative) – ₹ 5,000
  • Maximum investment amount – ₹ 99 Lakhs
  • Additional amount can be deposited in multiples of ₹ 1,000
  • Minimum investment amount (non-cumulative, interest paid yearly) – ₹ 25,000
  • Minimum investment amount (non-cumulative, interest paid monthly) – ₹ 50,000
  • All Mahindra Group employees and their relatives get additional interest rate of 0.35%
  • The minimum deposit amount for Mahindra Group employees/relatives is ₹ 1000 and in multiples of ₹ 500 thereafter.
  • Minors are also eligible for depositing money in these schemes.

Samruddhi Cumulative Scheme Interest Rate

Tenure

(in months)

 Interest Rate (in % p.a.)
Regular Senior Citizen
12 8.00% 8.25%
18 8.10% 8.40%
24 8.35% 8.60%
36 8.50% 8.75%
48 8.50% 8.75%
60 8.50% 8.75%

Samruddhi Non-Cumulative Scheme Interest Rate

Tenure

(in months)

 Interest Rate (in % p.a.) Quarterly Interest Interest Rate (in % p.a.) Monthly Interest
Regular Senior Citizen Regular Senior Citizen
12 7.85% 8.10% 7.80% 8.05%
24 8.20% 8.45% 8.15% 8.40%
36 8.35% 8.60% 8.30% 8.55%
48 8.35% 8.60% 8.30% 8.55%
60 8.35% 8.60% 8.30% 8.55%

Mahindra Finance Fixed Deposit Eligibility Criteria

Following people are eligible to make deposits in all schemes of Mahindra Finance Fixed Deposits:

Mahindra Finance Fixed Deposit Eligibility Criteria
  • Resident Individuals
  • Companies
  • NRIs
  • Partnership Firms
  • Trusts and Foundations
  • Family Trusts
  • Charitable Trusts
  • HUFs
  • Sole Proprietorship
  • Clubs, Association, Societies.

Valid Documents for Mahindra Finance Fixed Deposit

For Resident Individuals
ID & Address Proof
  • Passport
  • Driving License
  • Voter’s Identity Card issued by Election Commission of India
  • Job card issued by NREGA duly signed by an officer of the State Government
For Companies
  • PAN Card
  • Address Proof (Bank statement, Telephone Bill)
  • Certificate of incorporation
  • Memorandum of Article & association & Latest Board resolution with specimen signatures.
  • Authorized Signatory list
  • Photograph of the signatories
  • Cancel cheque leaf for Bank account verification.
For Non-Resident Indians (NRI)
  • Passport with valid visa
  • Overseas employment letter (optional for confirmation of residential status and overseas address)
  • A PIO card to establish Indian Origin, if it is a foreign passport.
  • PAN card
  • A local address proof if different from the passport address:
  1. Bank account statement or passbook
  2. Local Property papers with registration deed
  3. EB Bill card
  4. Voter Id or Driving License
  • Tax Residency Certificate from the Income Tax department of the country the investor is a resident
  • Copy of the passport as of the beginning of the current financial year and end of the financial year
For HUF
  • HUF PAN card
  • HUF/Kartha Address Proof & identity proof of Kartha
  • Photograph
  • Cancel cheque leaf for Bank account verification.
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