Bank of Maharashtra Latest FD Interest Rates

Bank of Maharashtra Latest Fixed Deposit Interest Rates

Domestic Term Deposits/NRO Term Deposits
Interest Rate on Domestic Term Deposits/Bulk Term Deposit/NRO Term Deposits (% Per annum w.e.f. 10th October 2022)

Duration Less than Rs. 2Cr Rs. 2 Cr to 10 Cr Above Rs. 10Cr
7-30 days 2.75 2.75 2.65
31-45 days 3.00 3.00 2.90
46-90 days 3.50 3.50 3.40
91-119 days 4.50 4.50 4.40
120-180 days 4.75 4.75 4.65
181-270 days 5.00 5.00 4.65
271-299 days 5.00 5.00 4.90
300 days 5.25 5.25 4.90
365 days/One Year 5.40 5.40 5.30
Over 1 Year to 399 days 5.60 5.60 5.50
400 days (Maha Dhanavarsha) 5.70 5.70 5.50
401 days to 2 years 5.60 5.60 5.50
Over 2 years to 3 years 5.50 5.50 **
Over 3 years to 5 years 5.50 5.50 **
Above 5 years 5.50 5.50 **

*** Bank Ter Deposits Shceme, 2006 (5 years Tax Saving Scheme) is applicable upto Rs. 1.5 Lakh only
Resident Indian Senior Citizens will be offered an additional rate of 0.50% p.a. only for all maturity slabs of 91 days and above fordeposits uptoRs. 2 crore only. The additional interest is not applicable to any type of non-resident deposits.
A member or a retired member or the spouse of a deceased member or spouse of a deceased retired member of the Bank’s staff will beoffered an additional interest rate of 1.00% only upto an amount of Rs. 2.00 crore only.
In case of premature withdrawal of deposits, interest is payable at the rate applicable to the period for which deposit has been actuallyheld with the Bank.
On premature withdrawal of term deposits, for deposits up to 1 year maturity (tenor at the time of opening the account) there will NOPENALTY on the applicable interest rate. Interest rates on prematurely withdrawn term deposits with maturity period more than 1 yearwill be 1% below the applicable rate.
Deposits to be accepted for a maximum period of 10 years.
Branch should take prior approval before accepting bulk term deposit above Rs. 5.00 Crore.
All rates are subject to change from time to time.

NRE Deposits

Duration For Amount less than Rs.10.00 Crore(% per annum w.e.f. 10.10.2022)
365 Days/ 1 year  5.4
Over 1 year to 399 days 5.6
400 days*(Maha Dhanavarsha) 5.7
401 days to  2 years 5.6
Over 2 years to 3 years 5.5
Over 3 years to 5 years 5.5
Above 5 Years 5.5

** Bank Term Deposits Scheme,2006 (5 years Tax Saving Scheme) is applicable upto Rs.1.5 Lakh only
No interest is payable if the deposit is prematurely closed before the minimum period of one year.
Above one year premature payment attracts penalty of 1%.
No additional interest to senior citizens is allowed.
The interest rate for NRE Savings Deposits is upto 2.75 %
All rates are subject to change from time to time

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