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    BOM Maha Labh (666 days) Term Deposit Scheme

    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.

    Features of Bank of Maharashtra Maha Labh Term Deposit Scheme

    • Tenure: The scheme will have a term till maturity of 666 days. Deposits can be prematurely closed and withdrawn from, in a process based on the terms and conditions of the bank.
    • Deposit Amount: Per deposit receipt, amounts less than Rs.1,00,00,000 (Rs.1 crore) are accepted.
    • Under this scheme, deposits can and will only be accepted under Domestic / NRO / NRE Cumulative Deposit Products.
    • Maturity: After 666 days from the start of the scheme, the benefits of quarterly compounding interest will be payable on maturity.
    • Account Closure: The scheme allows for premature closure of deposits. If a deposit has been closed before maturity, the interest payable will be according to the prevailing rules for term deposits as on the date of premature closure, according to the bank.
      • Penalty interest: The penalty on the rate of interest will also be as per the prevailing rules for term deposits as on the date of premature closure, according to the bank.
    • Additional interest: The additional rates of interest as applicable for senior citizens, staff members, retired staff members, senior citizen staff members, etc. will be the same as that which is allowed for other term deposits, as on the date and prevailing rules, terms, and conditions of the bank.

    Interest rate of Maha Labh (666 days) Term Deposit Scheme

    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.

    Maha Labh (666 days) Term Deposit Scheme FAQs

    1. How often is the interest compounded?

      Under this scheme, the interest is compounded at quarterly intervals.

    2. Can the deposit be prematurely closed / surrendered?

      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.

    3. What is the maturity period for deposits in this scheme?

      The maturity period is 666 days from the date of deposit.

    4. Is there any additional interest rate for seniors, staffers, etc.?

      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.

    5. What kind of deposits can be accepted under this scheme?

      Only products under Domestic / NRO / NRE Cumulative Deposit products are allowed under this scheme.

    Useful Information on BOM Fixed Deposit

    Other Fixed Deposit Schemes Offered by BOM

    Special FD Schemes

    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar’s partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

    Maha Labh Term Deposit Scheme Reviews

    Write a Review
    • Bank of Maharashtra Fixed Deposit
      "Dream FD"
      0.5 4.5/5 "Excellent!"
      am using online services for Fixed deposit. I withdraw the interest monthly which gives me better Rate of interest than Standard 4%. The Best part is you can make Fixed Deposit in Multiples of 1000(Thousands),with minimum amount of Rs.1000. In other banks minimum Amount is 10,000. and helpd you to earn around 8-9% which is double than your normal ROI.
      Was this review helpful? 12
      , pune
      Reviewed on Dec 10, 2015
    • Bank of Maharashtra Fixed Deposit
      "Fixed Deposit"
      0.5 4.0/5 "Great!"
      I am using online services for Fixed deposit. I withdraw the interest monthly which gives me better Rate of interest than Standard 4%. The Best part is you can make Fixed Deposit in Multiples of 1000(Thousands),with minimum amount of Rs.1000. In other banks minimum Amount is 10,000. and helpd you to earn around 8-9% which is double than your normal ROI.
      Was this review helpful? 8
      , pune
      Reviewed on Jul 19, 2015
    • Bank of Maharashtra Fixed Deposit
      "Its good "
      0.5 4.0/5 "Great!"
      I am holding a Fixed deposit with Bank of Maharastha. They have done a very good job. It was closed after maturity and the same was used for my daughters marriage. I am holding this for the past 5 years and it is a tax saver FD. Interest rate offered by them was medium which is 9% and they have provided the FD certificate also.
      Was this review helpful? 5
      , pune
      Reviewed on Apr 27, 2015
    • Bank of Maharashtra Fixed Deposit
      "Fixed Deposit Description"
      0.5 2.5/5 "Just OK"
      The FD types in Bank of Maharashtra is very difficult to understand. I was trying to figure out if there is an option to create a Tax Saver FD online, but when I checked the FD types, and the names of FD, it was very confusing. Ultimately I need to google each FD types to understand what that means. The FD types should be made simpler like that of SBI and ICICI.
      Was this review helpful? 10
      , nagpur
      Reviewed on Mar 30, 2015
    • Bank of Maharashtra Fixed Deposit
      "Very good interest rate provided"
      0.5 5.0/5 "Blown Away!"
      I had opened up the fixed deposit with Bank of Maharashtra before a year. Its a very good interest rate provided and its competitive too. The relationship with this bank is too good and they are customer friendly. Customer service as well as on line services is too great.
      Was this review helpful? 7
      , bangalore
      Reviewed on Dec 02, 2014
    • Bank of Maharashtra Fixed Deposit
      "Fixed deposit"
      0.5 4.5/5 "Excellent!"
      Bank of Maharashtra's Fixed Deposit offers interest rate @9% approx. I did it for one year and the sum is Rs.50000. I applied it with my net banking online. It is a nice product for long term accumulation. You can deposit sum on a monthly basis. My overall experience was quite good.
      Was this review helpful? 5
      , new delhi
      Reviewed on Nov 29, 2014
    • Bank of Maharashtra Fixed Deposit
      "Its good"
      0.5 4.0/5 "Great!"
      Maharashtra bank Fixed Deposit is good their rate of interest is low when compared with other banks, it was opened as a joint account with my wife and the prime reason why I opened this account is because I was planning for a housing loan and that is why.
      Was this review helpful? 10
      , pune
      Reviewed on Aug 22, 2014
    • Bank of Maharashtra Fixed Deposit
      "Very good experience"
      0.5 5.0/5 "Blown Away!"
      It was a good experience of holding a fixed deposit with Bank of Maharashtra. I have closed the FD an year ago. There was no documentation required for creating the FD because I was holding a savings account with them. They do have online facility however I didn't avail the service. Customer service and response are too good and I genuinely having a very good experience. Bank executives are very pro-active. Rate of interest was 8.5%.
      Was this review helpful? 3
      , hyderabad
      Reviewed on Jul 29, 2014
    • Bank of Maharashtra Fixed Deposit
      "Can provide options"
      0.5 4.0/5 "Great!"
      I am holding an FD account with Bank of Maharashtra and I went to their Branch personally and I applied for that it was for 5 years and its great and I am happy with the interest rates and through on line I check all the FD details it will be really good if they provide the options for the change of amount or tenure online
      Was this review helpful? 3
      , pune
      Reviewed on Jul 10, 2014
    • Bank of Maharashtra Fixed Deposit
      "Average"
      0.5 3.0/5 "Satisfactory"
      Couple of months ago I started my first fixed deposit with bank of Maharashtra. I am a salary account holder for a while. It was quite easy to start a fixed deposit as there are no documents required. Rate of interest is good compared to other banks. Customer service is fine but not good as other private banks. I would suggest the bank to introduce online services.
      Was this review helpful? 14
      , mumbai
      Reviewed on Jun 19, 2014
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    Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

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