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What are the eligibility criteria for a Rs. 5 Lakh fixed deposit?

mahindra-finance-author

by Mahindra Finance

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February 29, 2024

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1 mins read

Mahindra Finance has very simple eligibility requirements for all who wish to open a fixed deposit account. Fixed deposit eligibility is as follows:

  • There is no specific age limit. Anyone from 10 years old to 60+ years, be it resident Indians or non-resident individuals, can open an FD account.
  • The minimum amount required to open an FD account is Rs. 5000. It is a small amount that anyone can afford. You also can invest any amount as per your capacity up to Rs. 25 crore.
  • The minimum investment period is 12 months. This means once you open an FD account, you cannot withdraw the funds for one year. But it is better to stay invested for a longer period as you get higher returns.

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