How to find the best rates for Mahindra Finance Fixed Deposit
Mahindra Finance is an Indian company that provides services to essentially the rural and semi-urban parts of India. The company offers great and safe investment options in the form of Mahindra Fixed Deposits.
The table above lists all the deposit alternatives available with Mahindra Finance. The table also captures all recent changes in the rates of interest to ease your search for a perfect and risk-free investment option.
Mid-Term Fixed Deposit Rates
The bank offers only mid-term fixed deposit schemes. The shortest locking period available for mid-term deposits made with the bank is 1 year and the longest is 5 years. The interest rate on a 1 year deposit is 9%, which is compounded yearly. A special interest rate of 9.25% is offered for fixed deposits that have a maturity period of 1 year and 6 months.
Fixed deposits made for 2 years earn an interest rate of 9.25%, whereas a tenure of 3 years gets you the same rate of interest of 9.25%. Higher deposit periods of 4 and 5 years earn an interest rate that is competitive with respect to other contemporary banks and is 9.25%.
Fixed Deposit Rates for Senior Citizens
Senior citizens earn higher interest rates as compared to regular customers. The interest rate is higher by around 0.25%. So a 1-year deposit fetches a rate of 9.25%. The most profitable tenure is 3 years which will get you maximum returns at a rate of 9.5%.
Mahindra Finance has great investment options to choose from and their deposit plans are competitive too when compared with other banking institutions in the country.
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