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Mahindra & Mahindra Financial Services Ltd. (FAAA by CRISIL)

 

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.

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