Bank of Maharashtra NRI Fixed Deposits
Bank of Maharashtra both offers Non-Resident Indians a convenient array of fixed deposit options ranging from Non-Resident Ordinary (NRO) to Non-Resident External (NRE) and Foreign Currency Non Resident (FCNR) schemes.
All of these provide competitive interest rates to NRIs.
Bank of Maharashtra NRI Fixed Deposit Interest Rates
The interest rates on NRO fixed deposits less than Rs.2 crore are mentioned in the table below:
Period of Deposit | Interest rate for general citizens (p.a.) |
7 days to 30 days | 2.75% |
31 days to 45 days | 3.00% |
46 days to 90 days | 4.75% |
91 days to 119 days | 5.00% |
120 days to 180 days | 5.25% |
181 days to 270 days | 5.75% |
271 days to 364 days | 5.75% |
1 year | 6.75% |
Above 1 year to 2 years | 6.50% |
Above 2 years to 3 years | 6.50% |
Above3 years to 5 years | 6.50% |
Above 5 years | 6.50% |
Special Schemes | |
200 days | 6.90% |
400 days | 7.10% |
666 days | 7.15% |
777 days | 7.25% |
*NRO fixed deposit rates can vary according to the bank's discretion. These rates are effective from 8 July 2024.
Bank of Maharashtra NRO FD Interest Rates Rs.2 crore to Rs.10 crore
The interest rates on NRO fixed deposits below Rs.2 crore to Rs.10 crore are mentioned in the table below:
Period of Deposit | Interest rate for general citizens (p.a.) |
7 days to 30 days | 2.75% |
31 days to 45 days | 3.00% |
46 days to 90 days | 4.75% |
91 days to 119 days | 5.25% |
120 days to 180 days | 6.00% |
181 days to 270 days | 6.25% |
271 days to 364 days | 6.25% |
1 year | 7.00% |
Above 1 year to 2 years | 6.25% |
Above 2 years to 3 years | 6.00% |
Above 3 years to 5 years | 6.00% |
Above 5 years | 5.75% |
Special Schemes | |
200 days | 6.90% |
400 days | 7.10% |
666 days | 7.15% |
777 days | 7.25% |
Note: NRO fixed deposit rates can vary according to the bank's discretion. These rates are effective from 8 July 2024
Bank of Maharashtra NRO FD Interest Rates: More than Rs.10 crore
The interest rates on NRO fixed deposits more than Rs.10 crore are mentioned in the table below:
Period of Deposit | Interest rate for general citizens (p.a.) |
7 days to 30 days | 2.65% |
31 days to 45 days | 3.50% |
46 days to 90 days | 5.00% |
91 days to 119 days | 6.25% |
120 days to 180 days | 6.50% |
181 days to 270 days | 7.00% |
271 days to 364 days | 7.00% |
1 year | 7.70% |
Above 1 year to 2 years | 7.55% |
Above 2 years to 3 years | NA |
Above 3 years to 5 years | NA |
Above 5 years | NA |
*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 8 July 2024.
Bank of Maharashtra NRE FD Interest Rates Less than Rs.10 crore
The interest rates on NRE fixed deposits less than Rs.10 crore are mentioned in the table below:
Tenure bracket | Regular FD rates (per annum) |
365 days/1 year | 6.35% |
Over 1 year to 399 days | 6.00% |
400 days | 6.75% |
401 days to 2 years | 6.00% |
Over 2 years to 3 years | 6.00% |
Over 3 years to 5 years | 5.75% |
Over 5 years | 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 17 April 2023.
Bank of Maharashtra FCNR (B) Deposit Interest Rates
The FCNR (B) deposit interest rates are as given below:
Period | USD | GBP | EUR | AUD | CAD |
12 months-15 months-18 months-21 months | 5.00% | 3.65% | 1.50% | 1.25% | 1.04 |
24 months-27 months-30 months-33 months | 3.10% | 2.20% | 0.01% | 1.45% | 2.10 |
36 months-39 months-42 months-45 months | 3.10% | 2.30% | 0.01% | 1.80% | 2.32 |
48 months-51 months-54 months-57 months | 3.00% | 2.30% | 0.10% | 1.85% | 2.38 |
60 months | 3.00% | 2.30% | 0.15% | 2.00% | 2.39 |
*The Bank of Maharashtra FCNR (B) FD rates can vary according to the bank's discretion. These interest rates are effective from 17 April 2023.
FAQs on Bank of Maharashtra NRI Fixed Deposits
- What is the tenure of the NRE FD scheme offered by Bank of Maharashtra?
The tenure of the NRE FD scheme offered by Bank of Maharashtra ranges between 1 year and more than five years.
- What is the highest interest that is offered by Bank of Maharashtra on its NRE FD scheme?
The highest interest rate offered by the Bank of Maharashtra on its NRE FD scheme is 6.75%.
- In case of premature withdrawal before one year, is there any penalty levied?
No penalty is levied in the case of premature withdrawal within one year.
- In case of premature withdrawal after one year, is there any penalty levied?
In case of premature withdrawal after one year, the penalty that is levied is 1%.
- Are senior citizens offered an additional interest rate on NRE FDs?
No, senior citizens are not offered an additional interest rate on NRE FDs.
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