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 FD 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) |
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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) |
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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 |
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Valid Documents for Mahindra Finance Fixed Deposit
| 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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