Here are a few benefits of choosing fixed deposit with Mahindra Finance:
- Guaranteed returns: FDs are considered safer than shares or mutual funds, with credit ratings by agencies like India Ratings & Research ensuring the security of invested funds.
- Higher Interest Rates: Mahindra Finance offers higher interest rates of up to 7% and 0.25% additional interest rates for senior citizens.
- Low Minimum Investment: These FDs allow investments as low as INR 5,000, providing accessibility to a wide range of investors.
- Flexibility: Investors can choose between cumulative and non-cumulative options, with the latter offering regular interest payments. Premature withdrawal is possible, subject to RBI rules.
- Loan Facility: FDs allow individuals to avail loans against their deposits, up to 75% of the deposit amount, after three months, with affordable interest rates.
- Tax Savings: There are tax-saving FDs that offer tax benefits, with investments up to INR 1.5 lakh under Section 80C, provided the deposit is held for a minimum of five years.
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