Frequently Asked Questions - Fixed Deposits

There are 3 modes available to submit the form 121, online & offline.

1. Click on https://fixeddeposit.mahindrafinance.com/WA_FD_EP_PRELOGIN_5/verificationpage.aspx to submit the form 121 via online mode.

2. Email the scan image of the duly filled & signed form 121 @[email protected]

3. Send the duly filled & signed physical 121 form to our Head Office OR FD processing center.

The Form No. 121 needs to be submitted at the beginning of every tax year or at the time of deposit if in case the investment is done during the tax year. In case of entities/companies, the Lower or Nil Tax Deduction Certificate needs to be submitted immediately after the date of issue or before 31st March (end of the relevant tax year), whichever is earlier.

Note:- Form No. 121 is not applicable for cases wherein the deposit interest exceeds the basic exemption limit set by the Incometax Act, 2025, i.e. ₹2.5 lakhs for individuals and ₹3 lakhs for senior citizens, or as applicable from time to time.

The TDS limit for NBFC FD scheme is till Rs.10,000/- interest p.a. In case where the interest amount exceeds Rs. 10,000/- sum of all fixed deposit held with Mahindra finance under single pan number in a Tax year, income-tax will be deducted at source.

No, MMFSL fixed deposit cannot be shown under section 80C for tax deduction.

We are a service – oriented organisation with a complete focus on delivering the best experience. Our Depositors get these benefits:

1. A readily available fixed deposit online calculator which will help you plan your investment.

2. Login credentials to access the online customer portal to view your investment portfolio and download the certificates as and when required.

3. Simple and transparent policies.

4. Detailed SMS and email communication to the customers while booking a fixed deposit, from request to maturity.

5. Easily accessible path to raise your query & request for immediate resolution.

No. Since the money is locked in with us for a specific rate and specific period, you will continue to receive that rate till maturity. If you wish to avail the new rate, we suggest you invest in a new fixed deposit with us.