Spark the Rise Mahindra Rise Blog
Fixed Deposit

You are here:

Fixed Deposit

In these times of uncertain returns, fixed deposits have become the most recommended banking instruments for financial savings. MMFSL’s new Fixed Deposit scheme assures you of highly competitive interest rates with this low-risk investment.

  • 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
Non Cumulative Scheme:
Period
(Months)		 Interest p.a.*#
(Half Yearly)		 Interest p.a.*#
(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
Cumulative Scheme:
Minimum
Amount 		Period
(Months)		 Amount
Payable(Rs.)		 Interest *
p.a.		 Effective
Yield p. a.**
Rs. 10,000@ 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%

 

Note: Applicable from 12th September, 2011


 

What else should you know?

Common questions

Apply now

 

@ Additional amount will be accepted in multiples of Rs. 1,000/-

# 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

** Compounded Annually

* Senior Citizens/ Employees will get an additional rate of 0.25% per annum

 

  • Vehicle Finance
  • Agriculture Finance