Mahindra & Mahindra Financial Services invites FD from public

Article Menu

Mahindra & Mahindra Financial Services, a non-banking finance unit of auto major Mahindra & Mahindra, has invited fixed deposits from the public, for the first time after 3 years.

The minimum amount which an investor can invest is Rs 10,000. This is in line with a recent trend where various conglomerates, including the Tatas, have invited the public for fixed deposits, as traditional sources of funds are drying up.

The fixed deposits have been rated as FAA+ by CRISIL, which indicates high safety. The yield on a 3-year fixed deposit is 13.5%. The rates are 11%, 11.5% and 12% for 12 months, 24 months and 36 months respectively.

MMFSL provides finance for utility vehicles, tractors and cars with a focus on rural areas. It currently has a network of 442 offices and total assets under management of Rs 8,303 crores. It had a net profit of Rs 177 crore in March 2008

Source-Economic Times
February 2009

Apply Here
Product Type
Full Name
Mobile +91
Email id
How Does it Work?
» Post Investment requirement
» Get & Compare offers from all banks
» Get Highest Interest Rates
Copyright 2013, Deal4Investments, India.