Investing your hard-earned money comes with a lot of risks. This is when people start searching for alternatives that offer higher returns in investment at the lowest risk. People willing to assume the least risk are generally the retired age group or newbies who are starting to look for investment opportunities. One such investment tool that minimizes the risk is fixed deposit (FD). A fixed deposit scheme ranks among the top investment avenues that are regarded to be the safest alternatives.
Mahindra Finance is one of the leading Non-Banking Finance Companies that offers a competitive rate of interest for their fixed deposits.
With the steep decline in global markets across the world, the only investments that stand true to their value are fixed deposit. Mahindra Finance FDs have an ‘FAAA’ rating by CRISIL indicating the highest safety in terms of investment. The following are the effective fixed deposit interest rates yields under different schemes-
Dhanvruddhi Cumulative Scheme 7.56% p.a. for 15 month tenure
Dhanvruddhi Non Cumulative Scheme 7.45% p.a. for 15 month tenure
Samruddhi Cumulative Scheme 7.30% p.a. for 12 month tenure
Samruddhi Non Cumulative Scheme 7.10% p.a. for 12 month tenure
Dhan Samruddhi Cumulative Scheme 8.13% p.a. for 30 month tenure
Dhan Samruddhi Non Cumulative Scheme 7.45% p.a. for 30 month tenure
There are additional FD interest rates for senior citizens that vary across different schemes. Make sure you keep an eye on them while investing.
Let us understand what makes Mahindra Finance Fixed Deposit stand out from other NBFCs
Loan against deposit
Mahindra Finance Fixed Deposit offers up to 75% of the deposit amount as loans to the investors in their times of need. A loan facility against such fixed deposits is extended to every customer whose fixed deposit is live for three months or more. Such FDs are marked as a lien on the sanction of the loan. However, such facility of loan against fixed deposits is not offered to NRI depositors. The rate of interest so charged for such loans shall be 2% over the fixed deposit interest rates.
No change in interest rates
The central bank monitors and controls the rate of interest to increase or decrease the money supply in the economy. This has an impact on the FD rates. Also, if these interest rates fall, Mahindra Finance guarantees to maintain the same rate of interest on your fixed deposit. On the other hand, if the rate of interest increases, the benefit of such increase in interest rates can be passed on the existing depositors by way of premature renewals subject to rules by Reserve Bank of India.
Additional rate of interest for senior citizens
Senior citizens are offered additional interest rates as compared to others. You can check such added interest rate while investing in your fixed deposit scheme from Mahindra Finance.
Risk-Averse Investment Avenue
The fixed deposit scheme is an excellent way to ensure that your investment stays intact. Investments in stocks, mutual funds, or other debt funds have high volatility, unlike fixed deposit. Moreover, there is a guaranteed sum on maturity that makes it a more reliable investment avenue for a risk-averse investor.
Flexibility of Tenure
Fixed deposits have a flexible tenure among the different schemes available. The tenure for a fixed deposit investment ranges between seven days to ten years. One can decide the duration of FD Investment on their estimated time to financial goals.
Make the best use of Mahindra Finance Fixed Deposit Scheme to achieve your financial goals!