What is the minimum deposit amount for the cumulative deposit & the non-cumulative deposit schemes?

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• What is the difference between a non-cumulative deposit and a cumulative deposit?

  In a 'non-cumulative scheme' the interest is payable at a particular frequency (monthly, quarterly, half-yearly or yearly). This scheme is convenient for pensioners who require a periodical interest payment. In the ‘cumulative deposit scheme', the ...

• When will the interest be credited in a non-cumulative scheme?

  In a non-cumulative scheme: • Yearly interest will be credited on 31st of March of every year • Half yearly interest will be credited on 30th of September and 31st of March of every year • Quarterly interest will be credited on the 30th of June, 30th ...

• 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 ...

• 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 ...

• Will Mahindra Finance allow loan on deposit?

  A loan may be granted against Mahindra Finance Deposit up to 75% of the deposit amount. A loan will be given to any depositor who has a live fixed deposit which is more than 3 months old. The FDR will be marked with lien against the release of the ...