Overview of Mahindra Finance Fixed Deposit
Mahindra Finance Fixed Deposit offers cumulative and non-cumulative FDs for 12 to 60 months, starting at Rs.5,000, with up to 7.85% p.a. including additional rates for senior citizens and women. They are rated CRISIL AAA/Stable and IND AAA/Stable, can be opened online or offline, and allow a loan of up to 75% of the deposit.
Mahindra Finance Fixed Deposit Features and Benefits
The main features and benefits of the FD account offered by Mahindra Finance are mentioned below:
- Opening an FD is safe as it comes with a CRISIL AAA/Stable rating and an IND AAA/Stable rating.
- Senior citizens are provided an additional interest rate of 0.35% p.a. for tenures of 36 months and above and 0.25% p.a. for tenures below 36 months.
- Employees at Mahindra Group and their relatives are provided an additional interest rate of 0.35% p.a. for Samruddhi Fixed Deposits.
- Women depositors in all categories are provided an additional interest rate of 0.05% p.a. for tenures of 36 months and above on deposits of up to Rs.5 crore, and renewals of public and senior citizen deposits of up to Rs.5 crore earn an additional 0.05% p.a.
Mahindra Finance FD Eligibility Criteria
The below-mentioned individuals and entities can open a Mahindra Finance FD account:
- Resident Individuals
- Society, Association, and Club
- Sole Proprietorship
- Family Trust
- Hindu Undivided Family (HUF)
- Charitable Trust
- Trusts and Foundations
- Partnership Firms
- Non-Resident Indians (NRIs)
- Companies
Note:
- Depending on the individual or entity that is opening the account, the documents that must be submitted will vary.
- Visit Mahindra Finance Official Website to find the list of documents that must be submitted.
Mahindra Finance Fixed Deposit Different Schemes
The different Fixed Deposit Schemes offered by Mahindra Finance are mentioned below:
Retail Fixed Deposit Cumulative Scheme (Deposits of up to Rs.5 crore)
- Minimum Amount: Rs.5,000
- Tenure: 12 months to 60 months
- Rate of Interest: 6.60% p.a. to 7.45% p.a.
Tenure | Interest Rate (p.a.) |
12 months | 6.60% |
18 months | 6.60% |
24 months | 6.85% |
30 months | 6.85% |
36 months | 7.40% |
42 months | 7.40% |
48 months | 7.45% |
60 months | 7.45% |
Note: The interest rates are effective from 22 May 2026.
Retail Fixed Deposit Non-Cumulative Scheme (Deposits of up to Rs.5 crore)
- Minimum Amount: Rs.25,000 (Half Yearly) and Rs.50,000 (Quarterly)
- Tenure: 12 months to 60 months
- Rate of Interest:
- Half Yearly: 6.50% p.a. to 7.30% p.a.
- Quarterly: 6.45% p.a. to 7.25% p.a.
Tenure | Monthly (p.a.) | Quarterly (p.a.) | Half Yearly (p.a.) | Yearly (p.a.) |
12 months | 6.40% | 6.45% | 6.50% | 6.60% |
18 months | 6.40% | 6.45% | 6.50% | 6.60% |
24 months | 6.65% | 6.70% | 6.75% | 6.85% |
30 months | 6.65% | 6.70% | 6.75% | 6.85% |
36 months | 7.15% | 7.20% | 7.25% | 7.40% |
42 months | 7.15% | 7.20% | 7.25% | 7.40% |
48 months | 7.20% | 7.25% | 7.30% | 7.45% |
60 months | 7.20% | 7.25% | 7.30% | 7.45% |
Note: The interest rates are effective from 22 May 2026.
Summary
Mahindra Finance Fixed Deposit offers cumulative and non-cumulative schemes for 12 to 60 months, with additional interest rates for senior citizens, women depositors and Mahindra Group employees. The deposits are rated CRISIL AAA/Stable and IND AAA/Stable, and you can start from Rs.5,000 and apply online or offline. Check the scheme details above before choosing your interest payout option.
FAQs on Mahindra Finance Fixed Deposit
1.What are the types of Mahindra Finance fixed deposit schemes?
Mahindra Finance fixed deposit is offered as cumulative and non-cumulative schemes. A cumulative Mahindra Finance FD pays the interest along with the principal at maturity, while a non-cumulative Mahindra Finance FD pays interest at regular intervals. The scheme details are listed in the schemes section above.
2. Is a Mahindra Finance fixed deposit safe?
A Mahindra Finance fixed deposit carries credit ratings from CRISIL and India Ratings that indicate the highest safety. Rating agencies review ratings from time to time, so check the current rating on the Mahindra Finance website before investing.
3.Who is eligible to open a Mahindra Finance FD account?
Resident individuals, NRIs and entities such as companies, partnership firms, HUFs, trusts, sole proprietorships, societies, associations and clubs can open a Mahindra Finance FD account. The documents required depend on the type of individual or entity opening the account. The eligibility section above lists every category.
4.Can a Mahindra Finance FD account be opened on behalf of a minor?
Yes, a Mahindra Finance FD account can be opened on behalf of a minor. However, the account can be opened only by the legal or natural guardian.
5.Can I open a joint Mahindra Finance FD account?
Yes, you can open a joint Mahindra Finance FD account. The maximum number of people that can hold a joint Mahindra Finance FD account is three.
6.Does a Mahindra Finance fixed deposit offer monthly interest?
Yes, the non-cumulative Mahindra Finance FD scheme can pay interest monthly, quarterly, half-yearly or yearly. The cumulative Mahindra Finance FD scheme pays the interest together with the principal at maturity.
7.Can I receive the Mahindra Finance FD amount in cash?
No, Mahindra Finance FD payments are made to the bank account that has been updated, and not in cash. Interest on non-cumulative deposits is also paid through NACH or NEFT.
8.After how long is premature withdrawal allowed on a Mahindra Finance FD?
A Mahindra Finance FD has a lock-in period, and premature withdrawal is not allowed during the first three months from the date the deposit was opened or renewed. Withdrawal after that period attracts a penalty as per the terms and conditions of the deposit.
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