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Mahindra & Mahindra Financial Services Ltd.
MMFSL is a subsidiary of Mahindra and Mahindra Ltd (M&M). The company is one of India’s leading non-bank finance companies focused on the rural and semi-urban sector
The company has 547 branches as on March 2011. It has three subsidiaries Mahindra Insurance Brokers Ltd (MIBL), Mahindra Rural Housing Finance Ltd (MRHFL), Mahindra Business & Consulting Service Private Ltd (MBCSPL)
The company has started accepting deposits from the public from January 1, 2009
Crisil Limited has upgraded the credit rating on fixed deposits to ‘FAAA’ from ‘FAA’
Mahindra Finance Co. Fixed Deposit w.e.f May 16, 2011
Non Cumulative Scheme
Period Interest * p.a. (Half-Yearly) Interest *p.a. (Quarterly)
12 9.00% 8.90%
24 9.75% 9.65%
36 10.00% 9.90%
48 9.50% 9.40%
60 9.50% 9.40%
Minimum Amount Rs. 25,000+ Rs. 50,000+
Cumulative Scheme
Minimum Amount Period (Months) Interest *p.a. Effective Yield p.a. Payable Amount on Investment of Rs. 10,000/-
Rs. 10,000 12 9.25% 9.25% 10,925
18 9.75% 10.07% 11,510
24 10.00% 10.50% 12,100
36 10.25% 11.34% 13,401
48 9.75% 11.27% 14,508
60 9.75% 11.85% 15,923
*0.25% extra for senior citizen across all slabs