Bank of Maharashtra is one of the oldest banks in India. It was officially constituted in 1935. It provides a variety of Fixed Deposit (FD) schemes to its investors. These schemes required the investor to park a significant portion of funds within the bank for an interest income and high returns upon maturity.
|Tenure bracket||Regular FD rates (per annum)||Senior Citizens FD rates (per annum)|
|7 days to 45 days||4.25%||.25%|
|46 days to 90 days||5.25%||5.25|
|91 days to 180 days||5.50%||6.00%|
|181 days to 364 days||5.75%||6.25%|
|1 year to 2 years||6.00%||6.50%|
|2 years 1 day to 3 years||5.75%||6.25%|
|3 years 1 day to 10 years||5.50%||6.00%|
*The Bank of Maharashtra Fixed Deposit interest rates tend to change at the discretion of the bank. The rates given here are valid as of 10 January 2020.
|Tenure bracket||Interest rates (per annum)|
|7 days to 45 days||4.25%|
|46 days to 90 days||5.25%|
|91 days to 1 year||6.00%|
|1 year to less than 3 years||6.25%|
|Above 3 years||6.00%|
*The Bank of Maharashtra Fixed Deposit interest rates tend to change at the discretion of the bank. The rates given here are valid as of 10 January.
How to apply for Bank of Maharashtra FDs: Applying for a BoM FD is quite a hassle-free process. Those who have an internet banking account can book one in a matter of seconds by using their login credentials.
NRI term deposits: The bank also offers customers the option to invest in Non-Resident Indian (NRI) deposits such as NRE and NRO accounts. This gives customers the option to park their funds in an Indian account and earn an attractive rate of interest on the same.
Tax saver FDs: Bank of Maharashtra also offers customers tax saver fixed deposits to claim a tax deduction of up to Rs.1.5 lakh under Section 80C of the income tax act.
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