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    Mahabank Sheetal Jama Yojana

    Institution Name
    Deposit Amount Range
    Tenure Range
    Interest Rate
    NRI - FD
    Up to ₹1Cr
    1 Year to 10 Years
    7.25% - 7.35% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Up to ₹1Cr
    7 Days to 10 Years
    4.5% - 7.85% Quarterly compounding
    Response Time Within 30 minutes
    Features
    Documents
    Good to Know
    Fixed Deposit BYTES FROM OUR KITCHEN

    Mahabank Sheetal Jama Yojana is a scheme offered by Bank of Maharashtra combining the best features of a current account and small term deposits.

    Eligibility Criteria to apply for Mahabank Sheetal Jama Yojana

    People who can apply for a Mahabank Sheetal Jama Yojana must either be individuals, corporate bodies, trusts, firms, public sector undertakings associates, etc. The account can be opened either singly or jointly based on the preferences of the applicant.

    Features of Mahabank Sheetal Jama Yojana

    Account Type

    Joint or single

    Amount

    The minimum amount of money that can be deposited into this account is Rs.5000. All deposits must be made in multiples of Rs.1000 and there is no maximum limit on the amount that can be put into this account.

    Rate of Interest

    Interest is calculated on a half-yearly basis and is subject to change from time to time at the discretion of the bank.

    Period

    The minimum period for deposits under this scheme is 15 days and the maximum period is five years.

    Loan against Mahabank Sheetal Jama Yojana Scheme

    Up to 90% of the accrued amount.

    Automatic renewals

    On maturity

    Nomination facility

    Yes

    Frequently Asked Questions on BOM Sheetal Jama Yojana

    1. What are the documents required to apply for Mahabank Sheetal Jama Yojana?

      Customers who wish to deposit money into their Mahabank Sheetal Jama Yojana accounts will receive a passbook after they have submitted the account opening form to the bank after due introduction.

    2. Can I close the account prematurely?

      Yes, customers are allowed to close their accounts prematurely.

    3. Can I transfer the account from one branch to another?

      Yes, customers are allowed to transfer the account from one branch to another in case they are moving from their current residence to a new location.

    4. What is the maximum amount of loan I can take out against this scheme?

      The bank offers a loan of up to 90% of the amount accrued on the Mahabank Sheetal Jama Yojana.

    5. How does the withdrawal process work?

      Customers are allowed to withdraw freely in multiples of Rs.1000 after filling in and submitting the special slips provided by the bank. The funds that remain unwithdrawn continue to earn interest at a contracted rate, and the method applied for withdrawals is LIFO (Last In, First Out)

    Useful Information on BOM Fixed Deposit

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