Bank of Maharashtra NRI Fixed Deposits
Bank of Maharashtra NRI fixed deposits let Non-Resident Indians earn interest through the NRO, NRE and FCNR (B) deposit schemes. NRO and NRE deposits are held in rupees, while FCNR (B) deposits are held in foreign currencies. The tables below list the current Bank of Maharashtra NRI FD rates for each scheme.
Bank of Maharashtra NRI Fixed Deposit Interest Rates
The interest rates on NRO fixed deposits less than Rs.3 crore are mentioned in the table below:
Period of Deposit | Interest rate for general citizens (p.a.) |
7 days to 30 days | 2.60% |
31 days to 45 days | 2.75% |
46 days to 90 days | 3.75% |
91 days to 119 days | 4.00% |
120 days to 180 days | 4.75% |
181 days to 270 days | 5.00% |
271 days to 364 days | 5.25% |
1 year | 6.40% |
Above 1 year to 2 years | 6.15% |
Above 2 years to 3 years | 5.25% |
Above 3 years to 5 years | 5.00% |
Above 5 years | 5.00% |
Special Scheme |
|
400 days | 6.65% |
*NRO fixed deposit rates can vary according to the bank's discretion. These rates are effective from 14 September 2026.
Bank of Maharashtra NRO FD Interest Rates Rs.3 crore to Rs.10 crore
The interest rates on NRO fixed deposits from Rs.3 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 | 2.60% |
31 days to 45 days | 2.75% |
46 days to 90 days | 3.75% |
91 days to 119 days | 4.00% |
120 days to 180 days | 5.00% |
181 days to 270 days | 5.25% |
271 days to 364 days | 5.75% |
1 year | 6.40% |
Above 1 year to 2 years | 6.20% |
Above 2 years to 3 years | 5.50% |
Above 3 years to 5 years | 5.25% |
Above 5 years | 5.25% |
Note: NRO fixed deposit rates can vary according to the bank's discretion. Interest rates updated on 22 October 2026.
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 | 2.60% |
31 days to 45 days | 3.00% |
46 days to 90 days | 4.00% |
91 days to 119 days | 4.25% |
120 days to 180 days | 5.00% |
181 days to 270 days | 5.25% |
271 days to 364 days | 5.50% |
1 year | 7.00% |
Above 1 year to 2 years | 6.40% |
Above 2 years to 3 years | 5.25% |
Above 3 years to 5 years | 5.00% |
Above 5 years | 5.00% |
*The Bank of Maharashtra Fixed Deposit interest rates tend to change at the discretion of the bank. Interest rates updated on 22 October 2026.
The additional interest rate for senior citizens is not applicable to any type of non-resident deposit, including NRO fixed deposits.
Bank of Maharashtra NRE FD Interest Rates Less than Rs.3 crore
The interest rates on NRE fixed deposits less than Rs.3 crore are mentioned in the table below:
Tenure bracket | Regular FD rate (p.a.) |
365 days/1 year | 6.40% |
Over 1 year to 399 days | 6.15% |
400 days | 6.65% |
401 days to 2 years | 6.15% |
Over 2 years to 3 years | 5.25% |
Over 3 years to 5 years | 5.00% |
Over 5 years | 5.00% |
*The Bank of Maharashtra Fixed Deposit interest rates tend to change at the discretion of the bank. The rates given here are effective from 18 June 2026.
NRE fixed deposits are accepted for a minimum period of one year. No interest is payable if an NRE fixed deposit is closed before completing one year, and premature payment after one year attracts a penalty on the applicable interest rate.
Bank of Maharashtra FCNR (B) Deposit Interest Rates
The FCNR (B) deposit interest rates are as given below:
Period (p.a.) | USD | GBP | EUR | AUD | CAD |
12 months-15 months-18 months-21 months | 5.20% | 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 1 September 2026.
FCNR (B) deposits are accepted for a minimum period of 12 months and thereafter in multiples of quarters only. A single FCNR (B) deposit in EUR, AUD or CAD must be for a minimum of 5,000 in the respective currency, and in GBP for a minimum of GBP 2,000.
Summary
Bank of Maharashtra NRI fixed deposits cover NRO and NRE rupee deposits and FCNR (B) deposits in foreign currencies, each with its own rate table above. NRE and FCNR (B) deposits earn tax-free interest, while interest on NRO deposits is subject to tax deducted at source in India. Check the tables above for the latest Bank of Maharashtra NRI FD rates before you book a deposit.
FAQs on Bank of Maharashtra NRI Fixed Deposits
1.What are Bank of Maharashtra NRI fixed deposits?
Bank of Maharashtra NRI fixed deposits are term deposits that Non-Resident Indians can open under the NRO and NRE schemes in rupees or the FCNR (B) scheme in foreign currencies. Each Bank of Maharashtra NRI FD scheme has its own rate table above.
2.What is a Bank of Maharashtra NRO FD?
A Bank of Maharashtra NRO FD is a rupee term deposit held in a Non-Resident Ordinary account, which NRIs use to hold income earned in India such as rent. Interest on a Bank of Maharashtra NRO FD is subject to tax deducted at source, and the rates follow the bank's domestic term deposit rates.
3.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.
4.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 depends on the tenure and is listed in the Bank of Maharashtra NRE FD rate table above. The bank revises these rates from time to time.
5.Is the interest on a Bank of Maharashtra NRE FD taxable in India?
No, the interest earned on a Bank of Maharashtra NRE FD is exempt from income tax in India. Interest on a Bank of Maharashtra NRO FD, however, is subject to tax deducted at source.
6. Is there any penalty on premature withdrawal of a Bank of Maharashtra NRE FD before one year?
No interest is paid on a Bank of Maharashtra NRE FD that is closed before completing one year. The deposit must run for the minimum period of one year to earn interest.
7.Is there any penalty on premature withdrawal of a Bank of Maharashtra NRE FD after one year?
Yes, premature payment of a Bank of Maharashtra NRE FD after one year attracts a penalty that is deducted from the applicable interest rate.
8.Are senior citizens offered an additional interest rate on Bank of Maharashtra NRE FDs?
No, senior citizens are not offered an additional interest rate on Bank of Maharashtra NRE FDs or any other Bank of Maharashtra NRI fixed deposit.
9.What is a Bank of Maharashtra FCNR (B) deposit?
A Bank of Maharashtra FCNR (B) deposit is a term deposit that NRIs hold in a foreign currency, and both the principal and the interest are fully repatriable. The deposit runs for a minimum of 12 months and a maximum of 60 months.
10.Is premature withdrawal allowed on a Bank of Maharashtra FCNR (B) deposit?
Yes, a Bank of Maharashtra FCNR (B) deposit can be withdrawn early, but no interest is paid if it is withdrawn before completing one year. After one year, the interest is paid at a lower rate than the applicable rate.
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