Mahindra Finance vs State Bank of India Recurring Deposit Comparison 2026
Compare Recurring Deposit interest rates, maturity amounts, and features between Mahindra Finance (Private Sector) and State Bank of India (Public Sector). Analyze the security of public sector banking versus the convenience of private sector services.
Mahindra Finance
SBI
Adjust the parameters below to see how returns compare between the two banks
Five Thousand rupees
Interest Rate Comparison
General rates across different tenures
Current selection: 3 years (1095 days) -Mahindra Finance: % |SBI: %
Direct comparison of general rates
Feature Comparison
Features | Mahindra Finance Private Sector | SBI Public Sector |
|---|---|---|
Minimum RD Amount | ₹0 | ₹100 |
Current Interest Rate(Selected Tenure) | % | % |
Premature Withdrawal Penalty | 1% | 1% |
Official Rate Source | View Official Rates | View Official Rates |
Key Advantages:
Key Advantages:
₹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 includes both principal and accrued interest for RDs.
⚠️ Recommendation:
Keep your total deposits (RDs + FDs + Savings) under ₹5 lakhs per bank. If you need larger investments, distribute them across multiple banks.
Smart Distribution Strategy
Multiple RDs: Open RDs in both Mahindra Finance and SBI
Family Accounts: Use different family members' accounts for additional coverage
Best of Both: Combine Mahindra Finance (convenience) with SBI (security)
💡 Pro Tip:
RDs are perfect for goal-based investing. You can open separate RDs for different financial goals across different banks to maximize returns and safety.
Key Insights & Recommendations
- • Minimum amount: ₹0
- • 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)
- • Minimum amount: ₹100
- • Public Sector banking preference
- • Largest branch network in India
- • Government backing and security
- • Online FD booking available
- • Open multiple RDs for different goals
- • Keep ≤₹5L per bank for insurance
- • Use Mahindra Finance for convenience
- • Use SBI for stability
- • Review rates periodically
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