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 loan. However, granting of a loan will be at the sole discretion of the Mahindra Finance.
What is the process for activating Fixed Deposits on Fintso for a Distributor already empanelled with Mahindra Finance?
Kindly ensure that the PAN registered with Mahindra Finance is the same as under the Fixed Deposits section in your Profile in Fintso. The PAN will be shared with Mahindra Finance. If it matches with their records, the following steps will be ...
What is the process to get empanelled with Mahindra Finance as a distributor?
Documents to be scanned and sent to firstname.lastname@example.org Agent Empanelment Form and PAN Declaration Form KYC Documents PAN Card Proof of Address: Passport, Driving License, Voters ID, Ration Card, Electricity Bill, Telephone Bill Photograph ...
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/-
Will the deposit be paid back in cash?
No. Deposit will be paid back only to the corresponding bank account updated.
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, ...