Bank of Maharashtra Fixed Deposit Rates

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. Bank of Maharashtra provides Fixed Deposits for interest rates between the range of 3.00% p.a. and 5.25% p.a. Bank of Maharashtra FD rate for senior citizen range between 4.50% to 5.75% p.a.

Bank of Maharashtra FD Rates

Period of Deposit Interest rate for general citizens (p.a.) Interest rate for Senior citizens (p.a.)
7 days to 45 days 3.00% N/A
46 days to 90 days 3.75% N/A
91 days to 180 days 4.00% 4.50%
180 days to 270 days 4.50% 5.00%
271 days to 364 days 4.50% 5.00%
1 year 5.25% 5.75%
1 year 1 day to 2 years 5.25% 5.75%
2 years 1 day to 3 years 5.25% 5.75%
3 years 1 day to 5 years 5.25% 5.75%

*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 1 June 2020.

Key Bank of Maharashtra FD interest rates

  • Highest BOM short-term Deposit rate: 4.50% p.a.
  • Maximum BOM medium-term FD rate: 5.25% p.a.
  • Highest BOM Long-term Fixed Deposit rate: 5.25% p.a.
  • Bank of Maharashtra fixed deposits rate for senior citizens: 5.25% p.a

Bank of Maharashtra fixed Deposit rates: Rs.2 crore to Rs.100 crore

Tenure bracket Regular FD rates (per annum) Senior Citizens FD rates (per annum)
7 days to 45 days 2.75% N/A
46 days to 90 days 2.75% N/A
91 days to 180 days 2.75% 3.25%
181 days to 1 year 2.75% 3.25%
1 year to 2 years 3.00% 3.50%
2 years 1 day to 3 years 3.00% 3.50%
3 years 1 day to 10 years 3.00% 3.50%

*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 1 June 2020.

Know more about Bank of Maharashtra fixed deposits

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.

Types of Deposit Schemes by Bank of Maharashtra

  • Mahalaxmi Term Deposit Scheme
  • Maha Saraswati
  • Tax Saving Term Deposit

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