login-icon
mahindra-finance-logo
login-icon
  • English
  • Hindi
  • Bengali
  • Marathi
  • Telugu
  • Tamil
  • Gujarati
  • Kannada
  • Odia
  • Malayalam
  • Punjabi
phone

Download App

Conveniently pay your EMIs, set payment reminders, view your loan details.

phone
|

Is there a minimum and maximum cap on Rs. 20 Lakh FD interest per month?

mahindra-finance-author

by Mahindra Finance

|

February 29, 2024

|

1 mins read

No, there is no official minimum or maximum cap on the interest rate for a fixed deposit of Rs. Lakh. The interest rates vary from one NBFC or bank to another, and they are subject to change from time to time. But you must know that the interest rates offered on investments with a longer duration are generally higher than for short-term FDs.

At Mahindra Finance, we offer the best interest rate on FDs in the market, starting from 7.20% per annum.

Related articles

Flat or Reducing Rate of Interest – Which Option is Best for Your Business?

When it comes to taking out a loan, one of the most critical factors to consider is the interest rate. The business interest rate determines how much you will pay throughout the loan and affects your ...

KNOW MORE

April 16, 2024

Used Car Market Trends

Since the start of the 20th century, the Indian used car market has seen tremendous growth. Currently, one pre-owned car is sold for every sale of a new vehicle. The market size is expected to witness...

KNOW MORE

June 29, 2023

Business Risk Management: A Guide For Startups

Starting a new business is an ambitious yet risky endeavour. It’s no secret that only one out of ten startups ultimately succeeds. So, why is that the case? The answer lies in the common pitfall...

KNOW MORE

April 22, 2024