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Mahindra and Mahindra Financial Services Ltd.

Mahindra Group operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, and financial services. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defense, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles, and two-wheeler industries. MMFSL is involved in consumer loans, investments and insurance distribution business. MMFSL Fixed Deposit has a Crisil rating of ‘FAAA which indicate a high level of safety

What are the schemes of deposits available?

Non – Cumulative:

In a ‘Non-cumulative scheme’ the interest is payable on a half-yearly or quarterly basis. The option will be convenient for someone (like pensioners) who requires periodic cash flow.

Cumulative:

In the “Cumulative deposit scheme’, the interest is payable at the time of maturity along with the principal. This scheme is suitable for people who do not require periodical interest payments. This option generally results in overall better yield due to the compounding effect.

Minimum Deposit:

  • • Cumulative deposit scheme: Rs.5,000/-
  • • Non cumulative scheme: Rs.40,000/- 

• Half Yearly Payout– Rs. 25,000/-
• Quarterly Payout– Rs. 50,000/-

Suitability:

This fund is Suitability investors:

  • • Looking for Better returns than Bank FD
  • • Wants Safety of Capital

Interest Rates:

Company Name: M&M Financial Services Ltd.

Rating: FAAA by CRISIL

Period: 1yr/12 18M 2yr/24 3yr/36 4yr/48 5yr/60 6yr/72
Interest Rate (%)
5.70
6.00
6.20
6.30
6.45
6.45
-

Minimum Amount: 10,000/-

Remarks: 0.25% extra for Sr. Citizen upto Rs.1 Crore

Premature Withdrawal:

a) After 3 months but before 6 months: The maximum interest payable shall be 4% per annum for individual depositor, and no interest in case of other category of depositors

b) After 6 months but before the date of maturity: The interest payable shall be 1% lower than the interest rate applicable

Taxability:

The interest income from Company FDs are added to Total Income of an investor under the head ‘Other Income’, and accordingly taxed as per tax slab of the investor. If the estimated annual interest is likely to exceed Rs.5000/- during the financial year, then the interest payment will be subject to tax deduction at source (TDS). However, to avoid such deduction of Tax, the investors can furnish self-declaration in Form 15G/H or by submitting the Exemption certificate from the perspective income tax authority for every financial year.

Note: Senior Citizens (60 years+) will be eligible for an additional 0.25% p.a. on deposits upto Rs. 1 Crore

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