Understanding of energy dissipation process of the selected material for a crashworthy structure is essential for its safety and reliability. Critical stress analysis for notched components of the structure is important to determine stress concentration factor. Commonly used mild steels are the primary choice of design engineers as the structural materials due to their good combination of mechanical properties, low cost and availability. Therefore, this paper presents the study of the flow behaviour of a mild steel with its energy dissipation capacity and notch sensitivity at strain rates 0.0001–0.1 s−1 and temperatures 25–500 °C under tensile, compressive and flexural loads. Several tests are conducted on electromechanical universal testing machine (Zwick/Roell, 250 kN) with the suitable fixtures. High temperature (300–500 °C; heating rate 8 °C/min, soaking time 15 min) deformation behaviour is studied and, the phenomenon of “blue brittle” is observed. Heat treatment (400–700 °C) effects on the steel behaviour are considered for heating rate 12 °C/min and soaking/holding time 1–3 h. Fractography analysis is done to know the nature of fracture surfaces. Influence of different notch profiles (C, U and V) on tensile behaviour of the steel is observed and, notch sensitivity ratio (NSR) is determined for their varying dimensions. It is found that the energy dissipation increases with increasing radius/angle in notched (C, U and V) specimens of the steel. Steel properties are found dependent on specimen geometry. Flexural/three-point bending behaviour (0.0001–0.01 s−1) is studied for 120–160 mm span lengths. Linear relationships of yield strength, ultimate strength and toughness/energy dissipation of the steel with logarithmic strain rate are presented. Finally, the Cowper-Symonds and Johnson-Cook material models are calibrated at different loading conditions.