At Mahindra Finance, we offer higher interest rates for senior citizen investors. The NBFC interest rate for fixed deposits is 0.25% higher for senior citizens. The interest rate you receive is contingent on the interest payout term you select. Opting for an annual interest payout ensures the maximum interest on your FD investment.
Here are a few benefits of choosing fixed deposit with Mahindra Finance:
Investors can open a Fixed Deposit with Mahindra Finance to an investment limit of up to â‚ą25 crores. The initial investment can be as affordable as â‚ą5000.
Tax-saver FD schemes allow you to get tax benefits on the interest earned from your investment. You can enjoy tax benefits of up to Rs. 1.5 lakh in a financial year under Section 80C of the Indian Income Tax. Thus, tax saving FD allows you to reduce your overall annual tax liability and, at the same time, earn valuable returns on your investments in the form of a fixed interest rate.
In addition, you can enjoy benefits like financial stability as there is zero risk of loss. At the end of the FD tenure, you get the principal amount and the accrued interest back. The prevailing market condition has no impact on the returns you get.
Any individual (both Indian resident and Non-Resident Indian), company, club, charitable trust, family trust, HUF (Hindu Undivided Family) can invest in a fixed deposit at Mahindra Finance. Investing in a fixed deposit investment plan is an excellent way to grow your savings and get assured return at a fixed interest rate.
At Mahindra Finance, you can open an FD account with as little as Rs. 5000 and get valuable returns up to 8.05% per annum. Also, opening an FD account with us is easy, you can do it online from the convenience of your home or office. We also give you the flexibility to choose the investment tenure to suit your needs.
So, open an FD account with Mahindra Finance now and take the first towards your long-term investment goals.
At Mahindra Finance, we have a minimal documentation requirement for all, including senior citizen FD, allowing you to open an FD account without any hassles. You only have to submit a few basic documents, including:
You can submit any of these documents as identity and address proof. Apart from these papers, you must fill out the application form and sign it. Also, since we offer online services, you need not worry about carrying the physical documents, just scan and upload them on your computer and send us the soft copies.
The documents required for senior citizens are the same as it is for other regular investors. The paperwork may differ only if you want to open an FD account as a company, firm, club, association, charitable trust, etc. You can refer to the documents required section to get a full list of documents needed.
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