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Fixed deposit features


by Mahindra Finance


June 30, 2023


2 mins read

One of the advantages of starting a fixed deposit (FD) is that it’s a safe way to invest. It also ensures the steady growth of your savings. What’s more, it is very easy to get started - just fill out the application form, either online or offline, and embark on your investing journey!  

But before you begin your investment journey, it is good to review the many features of fixed deposits and determine if this is the right scheme for you.

Here are some key benefits:

1. Additional interest rate for senior citizens:

With Mahindra Finance fixed deposit, senior citizens are eligible to get an additional interest rate of 0.25% per annum. 

2. Safe investment:

Unlike (say) mutual funds, FDs are not driven by changes in the market. This is a standout advantage. At the time of maturity, you are assured of getting a certain sum based on your investment. This makes FDs an attractive proposition for risk-averse investors. 

3. Easy liquidity:

FDs benefit investors who are in it for the long haul as well as those who may need money at short notice. Yes, you can liquidate your FD if you need funds urgently. So, an FD can be a blessing in a financial emergency. 

4. Loan against FD:

Another benefit of FD is that you can take a loan against it - that too at a lower rate of interest. You get to enjoy the benefits of your FD, and you can avail of a loan to meet your current financial needs. 

5. Simple investment tool:

An FD benefits anyone who wishes to invest but doesn’t have in-depth financial knowledge. All you need to do is invest your money for a specific tenure and watch it grow. Unlike with equity funds, there’s no need to constantly monitor your investments since FDs are not affected by market fluctuations. 

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