Are there any charges in case of premature withdrawal of deposit?
In case of premature withdrawal after completion of 6 months the interest rate payable shall be 2% lower than the interest rate applicable for the period for which the deposit has run or if not, rate has been specified for that period, then 3% lower than the minimum rate at which the public deposits are accepted by Mahindra Finance.
What is the process of taking premature withdrawal?
No premature withdrawal will be allowed before the completion three months from the date of receipt as per the directions of the RBI currently in force. In case of request for premature withdrawal after the expiry of three months, the rate given in ...
In case there is an urgent need of money, can a withdrawal be made from deposits?
According to the direction of the RBI, no withdrawal of deposit can be made within three months from the date of deposit / renewal of deposit. Subsequently, premature withdrawal can be made after 3 months from the date of deposit/renewal as per the ...
Can a premature proceeding be paid favouring the second/third depositor?
No. Premature payments will be made to the first depositor only. Further for more clarifications on death/POA cases (with/without) you may please contact Mahindra Finance (Tel: 022-66526000 or email: email@example.com)
What are payment modes available for paying the Principal Amount of the Fixed Deposit application?
Once the distributor initiates the fixed deposit transaction on Fintso, the investor can transfer money through either Net banking or NEFT/RTGS, depending on what was chosen by the distributor. · If the payment mode chosen is Net Banking, ...
What is the minimum deposit amount for the cumulative deposit & the non-cumulative deposit schemes?
Minimum investment for Mahindra Finance fixed deposit is: Options: Cumulative: Interest Payable Frequency: None Minimum Investment : ₹ 5,000/- Non-cumulative Interest Payable Frequency: Monthly & Quarterly ₹ 50,000/- Half-year & Yearly ₹ 25,000/-