JusPaisa - Mahindra Finance - FAQ

What is the minimum and maximum tenure in an FD with Mahindra finance?

The minimum tenure in FD with Mahindra Finance is 12 months and the maximum tenure is 60 months.

What is the difference between a Non-cumulative Fixed deposit and a Cumulative deposit?

For Non- Cumulative Fixed Deposits, the interest is payable on Monthly, Quarterly, Half yearly & Yearly basis. For Cumulative Deposits, the interest is payable at the time of maturity together with the principal amount.

How are returns from FDs Taxed?

Returns from FDs are taxed at your overall slab rate. Therefore, if you are in the 30% tax bracket, then the interest from your FD will also be taxed at 30%.

Mahindra finance has changed the FD rates. Will those new rates be applicable for my existing deposits?

No. Since the money is locked in with Mahindra 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 deposit with Mahindra.