How can I renew the fixed deposit?
All fixed deposits which are due for maturity can be renewed online through Fintso.
• The renewal process must be initiated between 10 to 25 days (both inclusive) prior to the existing fixed deposit maturity date.
• An online application through Fintso needs to be initiated (same way as fresh application).
• Investor can renew their deposit either the principal amount or complete maturity amount. However, the investor cannot do an additional investment while renewing the fixed deposit.
• The renewal certificate shall be sent to the investor within 10 days after maturity.
• The interest rate applicable will be the rate prevalent on the date of maturity of the existing fixed deposit.
Can I renew a Fixed Deposit sourced through another platform?
No, only deposits made through Fintso can be renewed through Fintso.
What is a Corporate Fixed Deposit? How it is different from a Bank Fixed Deposit?
Corporate Fixed Deposits are term deposits which are held over a fixed period at fixed rates of interest. Corporate Fixed Deposits are offered by Financial and Non-Banking Financial Companies (NBFCs). The maturities of various corporate fixed ...
Is there a prescribed form for making a deposit?
The entire process of application for fixed deposit is online. The advisor needs to fill in the basic details such as investment amount, tenure, scheme type (cumulative or non-cumulative), interest pay-out frequency and CKYC number to initiate the ...
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/-