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    Maha-DoubleDeposit Scheme

    Maha-DoubleDeposit Scheme  and 2 other FDs

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    6% - 6.25% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.25% - 6.75% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.49% - 8.19% Monthly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹25L
    1 Year to 5 Years
    7.75% - 8.5% Monthly compounding
    Response Time Within 30 minutes
    Features
    Highlights
    Documents
    Good to Know

    Maha-DoubleDeposit Scheme is Rated as "Excellent!" by 10 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service

    Responsiveness

    Fixed Deposit BYTES FROM OUR KITCHEN

    The Maha Double Deposit Scheme from Bank of Maharashtra is a scheme that accepts only cumulative deposits, which reach maturity once the amount deposited has been effectively doubled – in 116 months for regular depositors, and 108 months for senior citizens.

    Eligibility Criteria for applying for BOM Maha Double Deposit Scheme

    The bank accepts deposits of under Rs.1 crore from all parties, including senior citizens.

    Features of BOM Maha Double Deposit Scheme

    • Tenure: The effective tenure of the scheme is:
      • For non-senior citizen depositors: 116 months.
      • For senior citizen depositors: 108 months.
    • The scheme aims to double the investment deposited.
    • Amount: Amounts under Rs.1,00,00,000 (Rs.1 crore) are accepted as deposits under this scheme.
    • Deposits: Cumulative deposits are the only ones that are accepted under the Maha Double Deposit Scheme.
    • Maturity: On the end of the tenure as mentioned above, the maturity value will be payable, which is equal to double the amount deposited.
    • Premature closure: There is an option to prematurely close the deposit account and draw funds from it, but the interest payable will be 1% less than the applicable rate, for the total deposit period up to the date of premature closure.

    Interest rate of BOM Maha Double Deposit Scheme

    The interest rate under this scheme is:

    • 7.25% p.a. for non-senior citizen depositors.
    • 7.75% p.a. for senior citizen depositors.

    *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.

    FAQs of BOM Maha Double Deposit Scheme

    1. Does this scheme provide different interest rates and tenures depending on the depositor?

      Yes, the difference between depositors is only judged based on whether they belong to the senior citizen category or not.

    2. What are the interest rates and tenures for different types of depositors?

      The different types of depositors for this scheme are judged based on their age, specifically whether they belong to the senior citizen category or not. The different rates and tenures are:

      • For non-senior citizens: 7.25% per annum for 116 months.
      • For senior citizens: 7.75% per annum for 108 months.
    3. What kind of deposits is accepted?

      Only cumulative deposits are accepted under this scheme.

    4. When does the deposit yield benefits?

      Benefits can be realized on maturity, or premature closure of the deposit account ,as the case may be.

    5. At what intervals is the interest compounded?

      Interest is compounded at the above mentioned rates on a quarterly basis.

    Useful Information on BOM Fixed Deposit

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  • Maha-DoubleDeposit Scheme Reviews

    • 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? 10
      , 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? 5
      , 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? 4
      , 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? 9
      , 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? 4
      , 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? 2
      , 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? 2
      , 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? 2
      , 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? 12
      , mumbai
      Reviewed on Jun 19, 2014
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