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.
7.5%*
Guaranteed Plan
(by insurance companies)
(10 Years)
6.5%**
Fixed Deposits
(by SBI bank)
(5-10 Years)
7.1%***
Public Provident Fund
(other popular options)
(15 Years)
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.
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.
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,
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:
*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023
*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 |
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 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.
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.
*Trad plans with a premium above 5 lakhs would be taxed as per applicable tax slabs post 31st march 2023Mahindra 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,
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: