Mahindra Finance Samruddhi Fixed Deposit Scheme
Team CrawFin/ Harshal Jawale CFPCM
Crisil Rating – FAAA (Highest Safety)
Minimum Amount – INR 10,000 for cumulative, INR 25,000 for Non-cumulative
Additional amount multiples – INR 1,000
Interest Payment – Quarterly, Half-yearly, Cumulative
Mode of Interest Payment – ECS/NEFT only
Cumulative | Non-Cumulative | |||
Period (months) | Interest p.a. | Effective Yield p.a. | Interest pa (half-yearly) | Interest pa (Quarterly) |
12 | 9.5% | 9.5% | 9.25% | 9.15% |
18 | 10% | 10.33% | --NA-- | --NA-- |
24 | 10.25% | 10.78% | 10% | 9.9% |
36 | 10.50% | 11.64% | 10.25% | 10.15% |
48 | 10% | 11.60% | 9.75% | 9.65% |
60 | 10% | 12.21% | 9.75% | 9.65% |
Min Amt | INR 10,000 | INR 25,000 | INR 50,000 | |
** Senior Citizen/ Employees will get 0.25% additional rate p.a.
- All communications with regard to Fixed Deposit should be addressed to the Fixed Deposit Processing Center at Mahindra & Mahindra Financial Services Limited 15, Arcot Street, Opposite M.G.R. Memorial House, T. Nagar, Chennai-600017
- Please note that Company FD is not breakable, Bank FD can be withdrawn with some penalty. Also Bank FD provides Insurance of up to INR 100,000.
- Other details like KYC, Nomination, Loan against FD, Taxation remains same as Bank FD.
Our Assessment
Company FDs are illiquid in nature, but it offers 0.75% to 1% higher rate of interest as against Bank FD. Some reputed companies like JP Associates and Unitech are offering higher interest rates in the range of 11.5-12.5% pa.
I recommend M&M Finance FD (with highest safety rating) for someone who intends to stay in fixed interest asset class. Although major part of their money should be invested into bank FDs, some part of investment into Company FD for higher returns would be a wise option.
Other Company FD Schemes ---
JP Assoc – 11.5%
Unitech – 12%
HDFC Ltd – 9.75%
Dewan Housing Finance Ltd – 10.25%
Shriram Transport Finance – 10.75%
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