Apart from high Mahindra Finance FD rates that go up to 7.75%, you also enjoy high safety and an easy online application with this fixed deposit scheme.
Mahindra Finance FD rates go up to 7.75% p.a., giving you a secure way to grow your wealth. Given that they are not market-linked, FDs are one of the safest investments you can choose. This means that once you begin your fixed deposit, the FD rates are locked in for your chosen duration and remain unaffected by market fluctuations.
Offered by banks, NBFCs, and other financial institutions, FDs are thus one of the most popular investment choices. Since the Reserve Bank of India increased the repo rates by another 50 basis points recently, many banks, NBFCs and companies have hiked their FD interest rates too.
The recent Mahindra Finance FD rates reflect this change, and the company also has high safety ratings of IND AAA / Stable. Read to know how the current Mahindra Finance FD rates impact your earnings and how you can invest in this FD.
Mahindra Finance FD rates
Mahindra Finance FD rates vary based on the type of scheme you invest in as well as on your investment tenor. The rates start from 6.30% p.a. for non-cumulative deposits with a monthly payout.
For a regular investor, Mahindra Finance FD rates go up to 7.50% with an additional 0.25% offered to those over 60 years of age, which comes to 7.75%. You can also enjoy the rate of 7.75% when you choose a special tenor of 42 months and invest online with Mahindra Finance.
Locking your FD at a high interest rate is important because it has a direct impact on your earnings.
Here are the Mahindra Finance FD rates for different schemes for non-senior investors.
Additionally, Mahindra group company employees and their relatives get an additional 0.35% interest on Samruddhi Fixed Deposits, making this FD an attractive choice.
How to invest in the Mahindra Finance Fixed Deposit
Investing in this fixed deposit is easy and hassle-free as you can choose an option that suits you from among the following.
1. Via the Mahindra Finance website
- Click on Investments 🡪 Fixed Deposits
- Click on Apply Now
- Choose your mode as a new investor between Rapid and Regular (based on whether your CKYC is done)
- Fill in your personal, contact and other information along with the FD details
- Enter the OTP and submit the form
- A representative from Mahindra Finance will get back to you for further processing.
2. Via the Mahindra Finance mobile app
- Download the app
- Login/ Register
- Click on Investments 🡪Fixed Deposit
- Fill in the details required
- Submit the form and await confirmation
3. Via the application form available on the Mahindra Finance website
This is an offline process and requires you to submit the form at the registered offices or collection banks mentioned in the form. The steps to begin this process are:
- Visit the Mahindra Finance website
- Click on Investment 🡪 Fixed Deposits
- Scroll down to the section, Fixed Deposit Application
- Download the application form for the scheme you wish to apply for
- Fill it with the required information
- Drop it off at the nearest outlet
At the time of application, make sure that you have all the documents needed at hand. This will make for a seamless process. You may be required to submit the following documents:
- Address proof
- ID proof
- KYC documents
Benefits of Mahindra Finance Fixed Deposit
While an FD itself comes with a range of benefits, the Mahindra Finance Fixed Deposit offers investors a few other beneficial features:
- High Mahindra Finance FD rates augment your investment corpus
- Flexible tenor and minimal investment amount make it easy to tailor your investment to your needs
- Variety of schemes to choose from for your varying requirements
- Additional 0.25% interest is added to Mahindra Finance FD rates for senior citizens
- High credit ratings promise you more safety
- Easy-to-meet eligibility terms and minimal paperwork
- Facility to take a loan against FD to meet a cash crunch
To choose the best terms, use an FD interest rate calculator. This digital tool allows you to try different permutations and combinations of tenors and investment amounts so you can find the ideal FD rates for yourself.
In just a few clicks, you can choose the best Mahindra Finance FD rates and forecast your earnings. Before finalising your FD investment, take a look at the tax deduction and other terms and conditions. This will enable you to make an informed decision that prioritises your current and future financial wellness.
With these benefits and features of the Mahindra Finance FD, you can safely and easily grow your wealth. Choose one of the above-mentioned ways to begin your investment and lock in high Mahindra Finance FD rates to secure your earnings.