Bank FD Comparison Tool

Mahindra Finance vs Central Bank of India Fixed Deposit Comparison 2026

Compare Fixed Deposit interest rates, maturity amounts, and features between Mahindra Finance (Private Sector) and Central Bank of India (Public Sector). Analyze the security of public sector banking versus the convenience of private sector services.

Mahindra Finance

Private Sector

Central Bank

Public Sector

Mahindra Finance: Min ₹5,000

Central Bank: Min ₹1,000

Security vs Convenience

DICGC Insured up to ₹5 Lakhs

Compare Your FD Returns

Adjust the parameters below to see how returns compare between the two banks

Investment Amount

₹

Five Lakhs rupees

₹5,000₹20,00,000

Investment Period

years

1 year10 years

Customer Type

GeneralStandard interest rates

Senior Citizen (60+)Higher interest rates

Interest Rate Comparison

Interest Rates by Tenure

General rates across different tenures

Current selection: 3 years (1095 days) -Mahindra Finance: % |Central Bank: %

Side-by-Side Rate Comparison

Direct comparison of general rates

Mahindra Finance

Central Bank

Highlighted = Your selected tenure

Feature Comparison

Features	Mahindra Finance Private Sector	Central Bank Public Sector
Minimum FD Amount	₹5,000	₹1,000
Current Interest Rate(Selected Tenure)	%	%
Premature Withdrawal Penalty	1%	1%
Official Rate Source	View Official Rates	View Official Rates

Mahindra Finance

Private Sector Bank

Key Advantages:

NBFC with CRISIL AAA/Stable and India Ratings IND AAA/Stable ratings

Senior citizens get +0.25% additional interest for Samruddhi Deposits

Senior citizens get +0.10% additional interest for Dhanvruddhi Deposits (up to 5 Cr)

Employees/Employees' relatives get +0.35% additional rate for Samruddhi Deposits (up to 5 Cr)

Additional 0.05% p.a. on all renewal of deposits (w.e.f. 1st June 2025)

Flexible interest payout options: Monthly, Quarterly, Half-yearly, Yearly

Minimum deposit: ₹5,000

Maximum deposit: ₹5 crores

Tenure: 12 to 60 months

Rates effective from 25th June 2025

Central Bank of India

Public Sector Bank

Key Advantages:

Government-owned public sector bank

Established in 1911, nationalized in 1969

Wide branch network across India

Special Cent Green Deposit scheme for sustainable investments

Cent Super Callable and Non-Callable schemes (444 & 555 days)

Cent Floating Deposit scheme available

Senior citizens get +0.50% additional interest

Online FD booking facility

Important: Fixed Deposit Safety & Insurance Coverage

₹5 Lakh Insurance Limit

The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage of up to ₹5 lakhs per depositor per bank. This means if you deposit more than ₹5 lakhs in a single bank, only ₹5 lakhs is guaranteed by the government.

⚠️ Recommendation:

Never deposit more than ₹5 lakhs in a single bank. If you have larger amounts, distribute them across multiple banks to ensure full insurance coverage.

Smart Distribution Strategy

For ₹10 lakhs: Split between Mahindra Finance (₹5L) + Central Bank (₹5L)

For ₹15 lakhs: Add a third bank to the mix

Best of Both: Combine Mahindra Finance (convenience) with Central Bank (security)

💡 Pro Tip:

You can also open FDs in different family members' names in the same bank to get additional ₹5 lakh coverage for each account holder.

Key Insights & Recommendations

Choose Mahindra Finance If:

•Minimum amount: ₹5,000
•Private Sector banking preference
•NBFC with CRISIL AAA/Stable and India Ratings IND AAA/Stable ratings
•Senior citizens get +0.25% additional interest for Samruddhi Deposits
•Senior citizens get +0.10% additional interest for Dhanvruddhi Deposits (up to 5 Cr)

Choose Central Bank If: