Mahindra Finance FD Calculator

Mahindra Finance FD Calculator is among the best online tool with a versatile range of options in FD investment. Mahindra Finance Fixed Deposit schemes are one of the most preferred programs suitable for all individuals. It is designed in such a way to ensure high returns with low-risk investment.

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Mahindra Finance FD schemes have high FAAA ratings given by CRISIL. The senior citizens can avail of 0.25% additional interest rates on Samruddhi Fixed Deposit Schemes. The Mahindra group employees will get 0.35% additional interest rates on their deposits. The offers are available in both cumulative and non-cumulative deposit modes. Mahindra Finance FD calculator is the right financial advisor that allows individuals to make smart decisions on FD investment.

How Can Mahindra Finance FD Calculator Help?

Every individual will like to know the exact returns that can be gained from his FD investments beforehand. Mahindra Finance FD Calculator is precisely designed to answer this question with pinpoint accuracy. The deposit scheme is split into cumulative and non-cumulative modes. In the cumulative scheme, the rate of interest along with the principal amount is paid at maturity. Also, the interest is added back to the principal amount every quarter. Whereas, in a non-cumulative FD scheme, interest is payable on a monthly, quarterly, half-yearly, and yearly basis based on the investor's choice.  Mahindra Finance FD Calculator will take this factor into account while calculating interest. 

The minimum investment for FD is Rs.5000 in Mahindra Finance FD schemes for an individual account. For Mahindra Group employees/ relatives, the minimum investment is Rs 1000, & multiples of Rs.500 thereafter. The main scheme for deposits up to 1Cr is called the “Samruddhi Scheme." It is available in both cumulative and non-cumulative modes. For a non-cumulative "Samruddhi" Scheme, the minimum deposit amount is Rs 25000 for half year term and Rs 50,000 for a quarterly term. 

How Does Mahindra Finance FD Calculator Work?

There are varieties of slabs in which an individual can choose to invest. The application can be applied in both physical and online forms. There are mainly six types of schemes available. The schemes are suitable for individuals, retired pensioners, and also employees of Mahindra Group of companies. The different schemes currently available are listed below,

  • ‘Samruddhi’ cumulative up to 1cr (minimum investment is Rs. 5000)
  • ‘Samruddhi’ non-cumulative up to 1cr 
  • Bulk Deposit cumulative (From 1cr up to 5 cr)
  • Bulk Deposit non-cumulative (From 1cr up to 5 cr)
  • Bulk Deposit cumulative (Above 5cr)
  • Bulk Deposit non-cumulative (Above 5cr)

The different schemes with applicable interest rates are given in the tables below as per Mahindra Finance FD Calculator,

Fixed Deposit rates w.e.f. 24th August 2020.

Samruddhi Cumulative Scheme (up to 1 Crore) 

Minimum Investment  Period (Months) Payable Amount in Rs Interest per annum in % Effective Yield  per annum in          %


Rs. 5000
12 5285 5.7 5.7
24 5639 6.2 6.39
36 6006 6.3 6.71
48 6420 6.45 7.1
60 6834 6.45 7.34

Samruddhi NON - Cumulative Scheme (up to 1 Crore) 

Period (Months) Interest pa%
Monthly
Interest pa%
Quarterly
Interest pa%
Half-yearly
Interest pa%
Yearly 
12 5.15 5.5 5.6 5.7
24 5.65 6.0 6.1 6.2
36 5.75 6.1 6.2 6.3
48 5.90 6.25 6.35 6.45
60 5.90 6.25 6.35 6.45

Minimum Investment 

Rs 50,000                                                      Rs 25000

Special Notes:

  • Additional interest rate for Senior citizens: 0.25%
  • Additional interest rate for Mahindra group employees, both existing and retired, relatives: 0.35%
  • Additional denominations will be accepted in the multiples of Rs 1000.

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

Bulk Deposit Cumulative Scheme (From 1 Crore up to 5 Crore)

Minimum Investment  Period (Months) Payable Amount in Rs Interest per annum in % Effective Yield  per annum in          %


Rs. 1 Cr
12 10525000 5.25 5.25
18 10801281 5.25 5.34
24 11130250 5.50 5.65
36 11876484 5.90 6.25
48 12577196 5.90 6.44
60 13382256 6.0 6.76

Bulk Deposit Non-Cumulative Scheme (From 1 Crore up to 5 Crore)

Period (Months) Interest pa%
Half-yearly
Interest pa%
Quarterly
12 5.15 5.05
18 5.15 5.05
24 5.4 5.3
36 5.8 5.7
48 5.8 5.7
60 5.9 5.8
FD interest have fallen consistently over the last 5 years.
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Bulk Deposit Cumulative Scheme (Above 5 Crore)

Minimum Investment  Period (Months) Payable Amount in Rs Interest per annum in % Effective Yield  per annum in          %


Rs. 5 Cr
12 52500000 5.00 5.00
18 53851256 5.05 5.14
24 55493113 5.35 5.49
36 59046610 5.70 6.03
48 62412266 5.70 6.21
60 65969766 5.70 6.39

Bulk Deposit non-cumulative (Above 5 Crore)

Minimum Investment  Period (Months) Interest pa%
Half-yearly
Interest pa%
Quarterly


Rs. 5 Cr
12 4.90 4.8
18 4.95 4.85
24 5.25 5.15
36 5.6 5.50
48 5.6 5.50
60 5.6 5.50

Note: 

  • The additional amount is in multiples of Rs 1000/-
  • In the case of cumulative deposit compounded annually, interest will be compounded before tax deduction.

The above values are the main inputs used in Mahindra Finance FD Calculator and will remain the same till any modifications are made by the company as per RBI guidelines. 

Simple Interest vs. Compound Interest

There are two methods of calculating the interest rate on fixed deposits. 

Simple interest: It is a method of interest calculation on fixed deposits based on the principal amount. In this method, the principal amount remains constant. It can be calculated on a daily, monthly and annual basis.

             The formula for simple interest is,

SI= PA X r X T, where 

PA= Principal amount

r = rate of interest

T= Time period 

Compound interest: It is a method of interest calculation on fixed deposits, where interest is cumulatively added to both the principal amount and the interest generated from previous time periods. Most of the fixed deposit calculators are modelled on the compound interest formula. 

The formula of compound interest is, 

CI (Final amount) = PA (1 + r/n) rt

PA= Initial principal balance,

r = rate of interest 

n= number of interest period counted 

t= number of time periods 

Mahindra Finance FD Calculator will use the above formulas and other factors such as additional interest rate and frequency of pay-outs to derive the desired output on FD interest calculations. All the input factors are comprehensively formulated and integrated with the digital platform to make sure a layman without financial knowledge can get a clear idea about the schemes. 

*All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C Apply

How to Use Mahindra Finance FD Calculator?

Mahindra Finance FD Calculator makes use of important factors like rate of interest, time period (monthly, quarterly, half-yearly, and annually), age factor (for senior citizens additional 0.25 %), along with compound interest formula, to get exact output. It is very user-friendly, and results are obtained within seconds of input. It is frequently updated to match the changes in the rate of interest as per RBI guidelines. Follow below simple steps,

  • Insert the principal amount 
  • Select the appropriate time period
  • Select the frequency of pay-out (monthly, quarterly, reinvestment, short term)
  • Apply calculate
  • Choose a suitable plan to get maximum benefit on your fixed deposits.

Advantages of Using the Calculator:

In this digital age, most things are made available at your fingertips. Mahindra Finance FD Calculator made available on multiple digital platforms. There are multiple schemes, both cumulative and non-cumulative, made available to suit all kinds of individuals. Major benefits are listed below:

  • It is very easy to use, and any individual without any banking background can get the right results.
  • The output calculated is highly accurate and highly dependable
  • Works perfectly for both cumulative and non-cumulative fixed deposit schemes
  • Each data input buttons are specifically designed to allow maximum details to be evaluated
  • Helps individuals to make appropriate decisions to choose schemes that will ensure their future safety and bring them fruitful returns on their investment
  • It takes care of tax deductions before the final output. 
  • There are drop-down options to add inputs that will avoid typos from the end-user.

FAQ's

Written By: PolicyBazaar - Updated: 14 October 2021

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