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Fixed Deposit for Senior Citizen

Mahindra Finance’s Fixed Deposit scheme for senior citizens – Embark on a secure financial journey tailored for your golden years. Senior citizens receive up to 8.30% interest rate. Our commitment to ensuring a tranquil retirement is fortified by offering additional interest rates on your fixed deposits.

With assured returns and flexible tenure options, ease of access, hassle-free, and the absence of market risk make fixed deposits an attractive option for senior citizens seeking a reliable and low-risk investment to preserve and grow their savings.

Features of FD for Senior Citizens

Awarded the status of “IND AAA/Stable” by India Ratings and “CRISIL AAA/Stable” by CRISIL Ratings, which indicate highest safety of our fixed deposits.

Senior Citizen FD rates are up to 8.30% p.a.

Deposits start at just Rs.5000

Yearly tenure option from 1 to 5 years

Effortless online application and easy eligibility

Guaranteed returns

Choice of interest pay-out

FD Interest Rates for Senior Citizens

FD interest rates for Senior citizens receive up to 8.30% p.a. Senior Citizen (i.e., persons more than 60 years of age, subject to submission of proof of age) will get additional fd interest rate benefits up to 0.25% p.a. on Samruddhi deposits & 0.25% on Dhanvruddhi Deposits for investments up to Rs.50 Lakhs.

At Mahindra Finance, we understand the importance of financial stability during retirement, and our senior citizen fixed deposit scheme aims to provide a reliable avenue for secure investments. Experience the assurance of steady growth with competitive interest rates, as we strive to empower your retirement dreams with financial confidence and peace of mind.

Table for your reference:

Invested Amount Tenure Period Interest P.a. (yearly) for senior citizens* Interest earned Maturity Value
5000 2 years 8% 800 5,800
50,000 3 years 8.30% 12,451 62,450
5,00,000 4 years 8.30% 1,66,001 6,66,000
10,00,000 5 years 8.30% 4,15,001 14,15,000

*subject to the type of FD scheme you want to invest in

Apply for Fixed Deposit for Senior Citizen

Fixed Deposit for senior citizen is a highly popular investment choice and Mahindra Finance has made the process of opening an online senior citizen FD simple and straightforward. You can request a call for support at any point during the application.

Step 1 – Login using your Mobile number.

Step 2 – Add your PAN details.

Step 3 – Select the FD scheme you want to invest in for senior citizen

Step 4 – Verify the KYC (know your customer) details.

Step 5 – Enter bank account details

Step 6 – Pay the amount you want to invest, and your FD account is open!

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Eligibility for Senior Citizen Fixed Deposit (FD)

Individuals aged 60 years and above with proper documentation, can open senior citizen fixed deposit account and avail of additional senior citizen Fixed Deposit rates offered by Mahindra Finance.


Who can apply for Senior citizen fixed deposit?

What are the schemes offered by MMFSL Fixed Deposit for senior citizen?

Do I need to visit branch or submit the Fixed Deposit receipt to receive the proceeds on maturity?