Mahindra Finance FD

Introduction :-

Fixed Deposits are perfect for people who want to invest a lump sum amount for a specific period and are a secure and reliable option. These are designed to increase your safety and savings, offering predictable returns. The interest rate of FD is fixed at the time of investment, which ensures consistent returns till maturity. You get your initial investment plus accumulated interest after maturity. Mahindra Finance offers an attractive 8.10% per annum on its FDs and 0.25% additional benefit to senior citizens. Tenure and interest rates vary depending on the investment amount and interest payout interval chosen. So today invest in Mahindra Finance FD and enjoy higher & fixed returns

Mahindra Finance FD Rates

Additional

Mahindra fin Samruddhi Fixed Deposits up to 5 Cr. 0.25% extra for Sr. Citizen &0.35% extra to Employees/Employees' relative,(All M&M Group Companies Employees).Interest Compounded Annually. Approval Required Amount Rs. 5 Cr. w.e.f. 25th April 2024.

Key Features of Mahindra Finance FD

1. Credit Ratings - Mahindra Finance FD have been awarded the prestigious “IND AAA/Stable” rating by India Ratings and the “CRISIL AAA/Stable” rating by CRISIL Ratings, indicating the highest level of safety.

2. High Interest Rates- Mahindra finance fixed deposit rates are competitively high, helping you grow your money faster. Senior citizens can enjoy an additional 0.25% interest rate, while Mahindra Group employees and their relatives can avail an extra 0.35% interest rate on Samruddhi Fixed Deposits.It is important to note that Mahindra finance FD provide better interest rates than regular bank FDs.

3. Online and Offline Application- Apply for a fixed deposit online with RR Finance and enjoy features like minimal paperwork, simple eligibility criteria, a wide variety of FD schemes, guaranteed returns, flexible interest payout options, and hassle-free renewals.

4. Flexible Tenure Options- Depending on their preferences and financial objectives, investors can select from a variety of tenure options in Mahindra fixed deposit, which include both short- and long-term deposits.

5. Minimum Investment Amount- Mahindra finance FDs are generally available to a broad spectrum of investors due to their minimum investment amount.

6. Interest Payout Frequency- Depending on their cash flow needs, investors can select an interest payout frequency of monthly, quarterly, semi-annually, or annually.

7. Nomination service- Investors can choose a beneficiary who will receive the proceeds in the event of the investor's passing by using Mahindra finance’s nomination service.

Why Invest in Mahindra Finance FD?

1. Fixed Returns- Fixed Deposits (FDs) are considered safer than shares or mutual funds, with credit ratings from agencies like India Ratings & Research ensuring the security of your invested funds.

2. Higher Interest Rates - Mahindra Finance offers attractive interest rates of up to 8.05% per annum, with an additional 0.25% interest for senior citizens, providing a better return compared to many other investment options.

3. Low Minimum Investment - These FDs are accessible to a wide range of investors with a minimum investment amount as low as INR 5,000, making it easy to start investing.

4. Flexibility - Investors can choose between cumulative and non-cumulative options, with non-cumulative FDs offering regular interest payments. Premature withdrawal is possible, subject to RBI rules, providing additional flexibility.

5. Loan Facility - Mahindra Finance FD allows you to avail loans against your deposits, up to 75% of the deposit amount, after three months, at affordable interest rates.

6. Tax Savings - Tax-saving FDs offer benefits under Section 80C of the Income Tax Act, with investments up to INR 1.5 lakh, provided the deposit is held for a minimum of five years, helping you save on taxes while growing your investment.

Documentation Required for Mahindra Finance FD -

1. For Resident Individuals -

• ID & Address proof
• Passport,
• Driving license,
• The Permanent Account Number (PAN) Card,
• The Voter's Identity Card issued by Election Commission of India,
• Job card issued by NREGA duly signed by an officer of the State Government,

2. For Non-Resident Indians (NRI) –

• Passport with valid visa
• Overseas employment letter (optional for confirmation of residential status and overseas address)
• A PIO card to establish Indian Origin, if it is a foreign passport.
• Pan card
• A local address proof if different from the passport address

  a ) Bank account statement or passbook

  b ) Local Property papers with registration deed

  c ) EB Bill card

  d ) Voter Id or Driving License

• Tax Residency Certificate from the Income Tax department of the country the investor is a resident
• Copy of the passport as of the beginning of the current financial year and end of financial year

3. For Companies –

• PAN Card
• Address Proof (Bank statement, Telephone Bill)
• Certificate of incorporation
• emorandum of Article & association & Latest Board resolution with specimen signatures.
• Authorized Signatory list
• Photograph of the signatories
• Cancel cheque leaf for Bank account verification.
• ID & Address Proof of Authorized signatories

Final thoughts -

Investing in Mahindra Finance FD is a smart choice for those seeking secure and high-yield investment options. With competitive interest rates of up to 8.10% per annum, additional benefits for senior citizens and Mahindra Group employees, and the highest safety ratings from India Ratings and CRISIL, your investment is in trusted hands. Enjoy the convenience of an easy online application process, flexible tenure options, and multiple interest payout frequencies to suit your financial needs. Start growing your savings with Mahindra Finance FD today and secure your financial future with guaranteed returns and unparalleled safety.