|MAHINDRA & MAHINDRA FINANCIAL SERVICES LIMITED|
|FAAA/Stable Rating by CRISIL|
|Interest Rates applicable for deposit upto Rs. 1 crore only|
|Tenure (Months)||Rate of Interest||Cumulative Yield||Monthly||Quarterly||Half Yearly||Yearly|
Key Features & Benefits:
High returns on Fixed Deposit
0.35% p.a. additional for all Mahindra Group Company Employees
High Stability and Credibility with CRISIL’s FAAA/Stable rating
Interest payment frequency: Half Yearly , Quarterly & Cumulative
Quick Loan against Deposit facility
Premature Encashment Available
Information & Checklist
|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"|
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.
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, provides loans to SMEs and also offers fixed deposits.
Profit Before Tax
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Profit After Tax
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Disclaimer : Interest rates are subject to change. Please confirm the rates before investing.
Fixed Deposits At a Glance