Following is the table giving details of rate of interest on Fixed deposits from Mahindra Finance.
Non-Cumulative Scheme
| Period (Months) | Interest p.a.*#/(Half Yearly) | Interest p.a.*#/(Quarterly) |
|---|---|---|
| 12 | 9.00% | 8.90% |
| 24 | 9.75% | 9.65% |
| 36 | 10.00% | 9.90% |
| 48, 60 | 9.50% | 9.40% |
| Minimum Amount | Rs. 25,000+ | Rs. 50,000+ |
Cumulative Scheme
Minimum Amount: Rs. 10,000+
| Period (Months) | Interest */p.a. | Effective Yield p.a.** |
|---|---|---|
| 12 | 9.25% | 9.25% |
| 18 | 9.75% | 10.07% |
| 24 | 10.00% | 10.50% |
| 36 | 10.25% | 11.34% |
| 48 | 9.75% | 11.27% |
| 60 | 9.75% | 11.85% |
Note:
- + Additional amount will be accepted in multiples of Rs. 1,000/-
- # Interest payment Half Yearly on 30th September and 31st March only through NECS/NEFT
- Interest Payment Quarterly on 30th June, 30th September, 31st December and 31st March only through NECS/NEFT
- ** Compounded annually
- * Senior Citizens will get an additional rate of 0.25% per annum/Employees will get an additional rate of 0.35% per annum (all M & M Group Company Employees)
You can apply online also from here.