11. Will Income Tax be deducted at source from interest?
It is obligatory to deduct income tax at source if the estimated annual interest paid/credited on a
deposit account exceeds Rs.5000. However, Non Assessees (individuals, HUF, Trust) can avoid
such deduction by furnishing a self-declaration in Form 15G/15H.
12. Is it not enough to furnish the Form once at the time of placing the deposit?
No. The Form 15G/15H is required at the beginning of each financial year or at the time of deposit,
where applicable
13. What type of certificate do you give for the Tax deducted at source?
A Consolidated Tax Deduction Certificate at source in the prescribed Form 16A, giving details of
the interest remitted to Govt. etc. will be sent during second/third week of April every year
14. What happens on Maturity. How do I receive my Maturity proceeds?
On Maturity there is automatic redemption and the maturity proceeds are directly credited to the
clients registered bank a/c.
16. Can I renew my FD online?
Yes, if the ealier investment is done online, the same can be renewed online subject to below
mentioned terms & conditions.
Terms and conditions for online renewal of Mahindra Finance Fixed Deposits:
• All online Mahindra finance fixed deposits which are due for maturity can be renewed
online using ICICIdirect.com online portal.
• Renewal link will be visible only from 45 calendar days prior to the maturity date and up to
11 calendar days before the date of maturity.
• Renewal order can be placed online in the same way as fresh purchase with no debit of
funds.
• Only principle amount can be renewed online.
• If existing information updated in Mahindra Finance records are not meeting the prescribed
guidelines, company reserves the right to seek required documents.
• The interest rate applicable will be the rate prevalent on the date of maturity of the existing
fixed deposit.
15. What if I want to renew my deposits if the eariler FD was offline?
If invested offline earlier, for renewal Original FDR along with a fresh application form duly filled
and signed needs to be sent to the registrar 15 days prior to Maturity.
16. What if one loses the FD Receipt?
In the event of loss of the Fixed Deposit Receipt, company should be immediately informed about
the loss of the instrument. Company may issue a duplicate Fixed Deposit Receipt, subject to non
encashment of the original instrument, upon receipt from the depositor of a 'letter of loss of