Mahindra & Mahindra Finance Services Ltd. 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 offers Samruddhi Scheme for cumulative and non-cumulative options (online and offline).
| Mahindra & Mahindra Financial Services Ltd. Credit Rating | Analysis | |
| Long Term | Short Term | |
| ICRA | AAA | A1+ |
| CRISIL | AA+ | A1+ |
Mahindra Finance Samruddhi fixed deposit scheme is classified under two sections:
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)
Samruddhi Cumulative Deposits
| Tenure (in months) | Interest Rate (in % p.a.) | |
| Regular | Senior Citizen | |
| 12 | 5.70% | 5.95% |
| 15 | 5.80% | 6.05% |
| 18 | 6.00% | 6.25% |
| 20 | 6.10% | 6.35% |
| 24 | 6.20% | 6.45% |
| 27 | 6.20% | 6.45% |
| 30 | 6.20% | 6.45% |
| 33 | 6.20% | 6.45% |
| 36 | 6.30% | 6.55% |
| 38 | 6.30% | 6.55% |
| 40 | 6.30% | 6.55% |
| 44 | 6.45% | 6.65% |
| 48 | 6.45% | 6.65% |
| 60 | 6.45% | 6.65% |
(Interest Rates with effect from 24th August 2020)
Samruddhi Non-Cumulative Scheme Interest Rate
| Tenure (in months) | Interest Rate (in % p.a.) Quarterly Interest | Interest Rate (in % p.a.) Half Yearly Interest | ||
| Regular | Senior Citizen | Regular | Senior Citizen | |
| 12 | 5.50% | 5.75% | 5.60% | 5.85% |
| 15 | 5.60% | 5.85% | 5.70% | 5.95% |
| 18 | 5.80% | 5.95% | 5.90% | 6.15% |
| 20 | 5.90% | 6.15% | 6.00% | 6.25% |
| 24 | 6.00% | 6.25% | 6.10% | 6.35% |
| 27 | 6.00% | 6.25% | 6.10% | 6.35% |
| 30 | 6.00% | 6.25% | 6.10% | 6.35% |
| 33 | 6.00% | 6.25% | 6.10% | 6.35% |
| 36 | 6.10% | 6.35% | 6.20% | 6.45% |
| 38 | 6.10% | 6.35% | 6.20% | 6.45% |
| 40 | 6.10% | 6.35% | 6.20% | 6.45% |
| 44 | 6.25% | 6.50% | 6.35% | 6.55% |
| 48 | 6.25% | 6.50% | 6.35% | 6.55% |
| 60 | 6.25% | 6.50% | 6.35% | 6.55% |
(Interest Rates with effect from 24th August 2020)
Following people are eligible to open Mahindra Finance Fixed Deposits:
| Mahindra Finance Fixed Deposit Eligibility Criteria |
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| For Resident Individuals |
| ID & Address Proof |
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| For Companies |
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| For Non-Resident Indians (NRI) |
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| For HUF |
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