What is a fixed deposit, and how does it work?

Fixed Deposits are one of the best savings-cum-investment instruments in India that offer assured returns of interest rate. The working of FD is quite simple. You can open an FD account with Mahindra Finance and invest a lump sum amount for a pre-determined period.

At the end of the investment tenure, you get the principal amount and the accrued interest. If you have surplus funds, you can open an FD account Mahindra Finance and get attractive returns, up to 7.45% per annum. If you are a senior citizen, you get up to 0.25% higher interest rate than the interest offered to regular investors.