Mahindra Finance FD Interest Rates (p.a.) Highlights 2022 | |
| Highest slab rate | 6.45% (for 48 months & 60months) |
| For 1 year | 5.50% |
| For 2 year | 6.00% |
| For 3 year | 6.30% |
| For 4 year | 6.45% |
| For 5 year | 6.45% |
| Tax-Saving FD | – |
| FD Rating of Mahindra Finance Fixed Deposits | ||
| Credit Rating Agency | Rating | Outlook* |
| CRISIL | FAAA | Stable |
| ICRA | – | – |
ICRA gives a long-term rating of AAA (SO). It is an indicator of the company’s structured finance instruments carry the highest degree of safety when it comes to service financial obligations. To put it simply, there is a very low credit risk.
What is Outlook in credit rating?
The literal meaning of outlook is prospective or the likelihood of something happening in the future. For credit rating, outlook indicates if the current rating will improve, go down or remain stable in the near to medium term (generally from 6 months to 2 years). Both, ICRA and CRISIL, provide three types of outlook, viz. Positive, Negative, and Stable.
Mahindra Finance FD Rates
Fixed Deposit Interest Rates on Domestic deposits of upto Rs 1 crore w.e.f. 20th September 2021
Samruddhi Cumulative Scheme
| Tenure (in months) | Interest Rate (in % p.a.) | |
| Regular Citizens | Senior Citizens | |
| 12 | 5.50% | 5.75% |
| 24 | 6.00% | 6.25% |
| 36 | 6.30% | 6.55% |
| 48 | 6.45% | 6.70% |
| 60 | 6.45% | 6.70% |
Samruddhi Non-Cumulative Scheme
| Tenure (in months) | Interest Rate (in % p.a.) Quarterly Interest | Interest Rate (in % p.a.) Half Yearly Interest | ||
| Regular Citizen | Senior Citizen | Regular Citizen | Senior Citizen | |
| 12 | 5.30% | 5.55% | 5.40% | 5.65% |
| 24 | 5.80% | 6.05% | 5.90% | 6.15% |
| 36 | 6.10% | 6.35% | 6.20% | 6.45% |
| 48 | 6.25% | 6.50% | 6.35% | 6.60% |
| 60 | 6.25% | 6.50% | 6.35% | 6.60% |
Types of Mahindra Finance Samruddhi FD Schemes
Mahindra Finance Samruddhi fixed deposit scheme is classified under two sections:
- Samruddhi Cumulative FD Scheme
- Samruddhi Non-Cumulative FD Scheme
Both the schemes are available for deposits of up to Rs 1 crore. 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.
Cumulative Scheme
People can invest in this scheme only through online mode by visiting the company’s website. Depositors can choose whether they want a cumulative or non-cumulative scheme.
Features of Samruddhi Cumulative FD Scheme
| Particulars | Details |
| Minimum deposit amount | Rs 5,000 |
| Maximum deposit amount | Rs 1 crore |
| Mode of deposit | Online/Offline |
| Frequency of interest payment | Once, at the end of the FD term |
| Tax deduction | Tax deducted after the interest is compounded |
Features of Samruddhi Non-Cumulative Deposit Scheme
| Particulars | Details |
| Minimum deposit amount | Rs 25,000 (For half-yearly interest payment option) Rs 50,000 (For quarterly interest payment option) |
| Maximum deposit amount | Rs 1 crore |
| Mode of deposit | Online/Offline |
| Frequency of interest payment | Monthly/ quarterly/ half-yearly/ yearly |
| Tax deduction | Tax deducted before the interest is compounded |
For those who wish to deposit an amount above Rs 1 crore, they need to open a bulk deposit account. Please refer to the official website of Mahindra Finance for bulk FD rates. (https://mahindrafinance.com/investments/fixed-deposit#rateOfInterest)