Mahindra & Mahindra Financial Services Ltd. (FAAA by CRISIL)
Company Overview :
- MMFSL is a subsidiary of Mahindra and Mahindra Ltd (M&M). The company is one of India’s leading non-bank finance companies focused on the rural and semi-urban sector
- The company provides employment to over 16,000 people in over 1000+ branches across India and is currently servicing over 3 million customers
Unique features of investing through ICICIdirect.com :
- E-FDR : Electronic certificate for your investment
- Online Nomination: No need to fill or send the physical nomination form
- Online Renewal: Renewals can be done online without paperwork
- Auto Credit: Direct credit of interest and maturity proceeds in the registered bank a/c
Who can invest?
- Online: Resident Individuals & HUFs
- Offline: Resident Individuals, HUFs, Trusts, Domestic Companies, NRIs, Minor
Mahindra Finance FD interest rates (w.ef. July 16, 2020)
| Tenure (Months) | Non – Cumulative Scheme | Cumulative Scheme | |||
| Period | Quarterly (p.a.) | Half Yearly (p.a) | Interest (p.a.) | Effective Yield (p.a.) | |
| 12 | 6.50% | 6.60% | 6.70% | 6.70% | |
| 18 | 6.70% | 6.80% | 6.90% | 7.05% | |
| 24 | 6.75% | 6.85% | 6.95% | 7.19% | |
| 30 | 6.90% | 7.00% | 7.10% | 7.51% | |
| 36 | 6.95% | 7.05% | 7.15% | 7.67% | |
| 38 | 7.00% | 7.10% | 7.20% | 7.79% | |
| 44 | 7.05% | 7.15% | 7.25% | 8.00% | |
| 48 | 7.05% | 7.15% | 7.25% | 8.08% | |
| 60 | 7.05% | 7.15% | 7.25% | 8.38% | |
| Min Amt | ` 50,000/- | ` 25,000/- | ` 10,000/- | ||
Note: The above interest rates are applicable for interest rates upto 1 cr only.
Sr. Citizen will get 0.25% p.a. additional interest across all schemes.
* Maturity value is indicative, pretax and is for illustration purpose only.