Features and Benefits of Mahindra Finance Fixed deposit Scheme:
- The MMFSL Fixed deposit is given the Crisil rating FAAA which indicates a high level of safety
- Cumulative as well as non cumulative options are available as per the convenience of the depositor
- Senior Citizens/ Employees will get an additional rate of 0.25% per annum
- Applicable from September 12, 2011
| Non Cumulative Scheme – Mahindra Finance Fixed deposit | ||
| Period (Months) | Interest Rate | |
| Half Yearly | Quarterly | |
| 12 | 9.25% | 9.15% |
| 24 | 10.00% | 9.90% |
| 36 | 10.25% | 10.15% |
| 48, 60 | 9.75% | 9.65% |
| Minimum Amount | Rs. 25,000 | Rs. 50,000 |
- Interest payment half yearly on 30th September and 31st March only through ECS/NECS/NEFT.
- Interest Payment Quarterly on 30th June, 30th September, 31st December and 31st March only through ECS/NECS/NEFT
| Cumulative Scheme – Mahindra Finance Fixed deposit | |||
| Period (Months) | Amount Payable(Rs.) | Interest (p.a.) | Effective Yield (p.a.) |
| 12 | 10,950 | 9.50% | 9.50% |
| 18 | 11,550 | 10.00% | 10.33% |
| 24 | 12,155 | 10.25% | 10.78% |
| 36 | 13,492 | 10.50% | 11.64% |
| 48 | 14,641 | 10.00% | 11.60% |
| 60 | 16,105 | 10.00% | 12.21% |
- Minimum Amount for investment – Rs 10,000
- Additional amount will be accepted in multiples of Rs. 1,000
Managers & Brokers to the Scheme:
- Bajaj Capital Ltd
- HDFC Securities Ltd
- ICICI Securities Ltd
- Integrated Enterprises (India) Ltd
- J M Financial Services Pvt Ltd
- Karvy Stock Broking Ltd
- Kotak Securities
- R R Investors Capital Services Pvt Ltd
- Stock Holding Corporation of India Ltd
- Tata Capital Ltd
For more details download form below
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I would like to know
1) whether deposit under Public deposit scheme can be made through a/c. payee cheque
2) if so, drawee’s details such as name of the drawee etc.
3) Office of Mahindra and Mahindra Financial services Pvt. Ltd. Office in Hyderabad to which
the deposit amount/cheque may be submitted under proper acknowledgement.