IND AAA/Stable Indicates Highest Safety
Interest Rates applicable for deposits up to Rs. 5 crore only (w.e.f. 20-09-2023)
  Cumulative Non-Cumulative
Tenure (Mnth) Rate of Intt. Cuml. Yield  Mthly. Qtrly. Half Yrly. Yrly.
12 7.60% 7.60% 7.20% 7.25% 7.35% 7.40%
24 7.75% 8.05% 7.25%  7.35% 7.50% 7.75%
36 8.05% 8.72% 7.50%  7.60%  7.80% 8.05%
48 8.05% 9.08% 7.50% 7.60% 7.80% 8.05%
60 8.05% 9.45% 7.50% 7.60% 7.80% 8.05%

Key Features & Benefits:

  • + 0.25% p.a. extra for senior citizens over and above the regular interest rate.

  • 0.35% p.a. additional for all Mahindra Group Company Employees

  • Invest with just Rs. 5,000/- for cumulative options, Rs. 50,000/- for monthly and quarterly options, and Rs. 25,000/- for half-yearly and yearly option

  • High returns on Fixed Deposit

  • Flexible Tenures

  • Interest payment frequency: Half Yearly, Quarterly & Cumulative

  • Quick Loan against Deposit facility

  • Premature Encashment Available

Who Can Invest

  • Resident Indian Citizens

  • NRI / OCI / PIO (Only through NRO A/c.)

  • HUF / Family Trusts

  • Clubs/Association/Societies

  • Sole Prop./ Partnership / Cos.

Mode of Deposit NEFT/RTGS Cheque
Beneficiary Name MMFSL – FIXED DEPOSIT  payable to  “MMFSL – FIXED DEPOSIT"
Bank Account Number 02400310004199  A/c 02400310004199
Bank Name HDFC Bank Ltd marked “Account Payee only"
IFSC HDFC0000240 -
Bank Branch SANDOZ -

Premature Withdrawal

As per the Housing Finance Companies (NHB) Directions 2010, no premature withdrawal is allowed for a period of first 3 months from the date of deposit subject to regulatory conditions. In case of premature withdrawal after the expiry of 3 months, the following rates shall apply.

  • After 3 months but before 6 months – No interest is payable on the deposit. Only the principal is payable

  • After 6 months but before the date of maturity - The interest rate payable is 2% lower than the interest rate applicable for the period for which the deposit has run for. In case of no interest specified for the period run, interest payable will be 3% lower than the minimum rate at which the public deposits are accepted by the company.

  • For premature withdrawals of deposits, the duly discharged FDR with a revenue stamp of requisite value must be surrendered to the company. Premature withdrawals of single or jointly held fixed deposits shall be processed only after such a request is signed by all the depositors along with FDR duly discharged and a cancelled cheque leaf should be submitted.

  • Premature closure requests should be received 30 days prior to the maturity date in physical form to the designated office as there is no provision online for premature withdrawals.

  • In the event of the death of a depositor, the deposit may be repaid prematurely to the surviving depositors in the case of joint holding with survivor clause, or to the legal heirs with interest at the rate that would have ordinarily been paid, had such deposit been accepted for the period for which deposit had run upto the date of repayment

About Company

Mahindra & Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, is one of India’s leading non-banking finance companies. Focused on the rural and semi-urban sector, the Company has over 6.6 million customers and has an AUM of over USD 10.5 Billion. The Company is a leading vehicle and tractor financier that provides loans to SMEs and also offers fixed deposits.

Company Financials
Financial Year
Ended on
Profit Before Tax
(Rs. in crore)
Profit After Tax
(Rs. in crore)
31-032022 1,356.91 988.75 180%
31-03-2021 422.43 335.15 40%
31-032020 1,343.76 906.40 0%

Fixed Deposits At a Glance