Mahindra Finance launches special deposit scheme to be offered digitally

Mahindra Financial Services Limited (Mahindra Finance), part of the Mahindra Group, on Wednesday announced the launch of a special deposit scheme for digitally savvy customers.

Mahindra Financial Services, which is focused on rural and semi-urban sector, will offer the special deposit scheme through digital mode to depositors via the company’s website. Under these schemes, the depositors can place their deposits for a tenure of 30 and 42 months, which will carry 6.20% and 6.50% interest rate respectively. Both cumulative and non-cumulative options are available for depositors to choose from, the company said in a release.

Senior citizens shall be eligible for another 20 bps higher rates.

In keeping with today’s digital world, depositors have an opportunity to interact directly with the deposit-taking companies for placement of deposits. To leverage this opportunity, Mahindra Finance announced an innovative scheme…


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