The Maha Labh Scheme from the Bank of Maharashtra is designed to provide a quarterly compounding interest on deposits to investors, for a 666-day tenure.
The interest rate in the Bank of Maharashtra Maha Labh (666 days) Term Deposit Scheme is 7.77% p.a.
The interest is compounded quarterly.
8.27% simple annualized yield on maturity.
*All amounts, tenures, repayment requirements, time frames, interest rates, charges, fees, ceilings, requirements, criteria, exclusions, terms and conditions mentioned above are as of December, 2015. Bank of Maharashtra reserves the right to modify, replace, or add to or subtract from any of the above, in any way, at any time, and at its own discretion.
Under this scheme, the interest is compounded at quarterly intervals.
Yes, the deposit account can be closed before the maturity of 666 days, and be withdrawn from, but will be subject to penalty on interest rates.
The maturity period is 666 days from the date of deposit.
Yes, there will be additional interest payable for senior citizens, staff members, retired staff members, etc., and will be at the same rate as is allowed on other term deposits.
Only products under Domestic / NRO / NRE Cumulative Deposit products are allowed under this scheme.
Useful Information on BOM Fixed Deposit
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