The Mixie Deposit Scheme from Bank of Maharashtra is a combination of current account and term deposits, offering customers the choice of withdraw 75% of the term deposit without either undergoing loan formalities or breaking term deposit.
Eligibility Criteria to apply for BOM Mixie Deposit Scheme
Any individual can apply for this scheme, singly or jointly.
Features of Mixie Deposit Scheme
Account Type
Joint or single
Amount
The minimum amount of money that can be deposited into this account is Rs.10000 and there is no maximum limit but deposits will have to be made in multiples of Rs.1000.
Rate of Interest
The rate of interest is determined as per the term deposit rates decided by the bank. The interest rate is subject to change from time to time depending upon maturity patterns.
Period
The minimum period of this scheme is 24 months and deposits can be made in multiples of three months. The maximum period is limited to 120 months.
Loan against Mixie Deposit Scheme
Available to hospital authorities only
Nomination facility
Available
Auto Renewals
Applicable on maturity
FAQs on Bank of Maharashtra Mixie Deposit Scheme
How do I avail a Mixie Overdraft Account?
Customers can avail a Mixie Overdraft Account by clubbing two or more Mixie deposit receipts in the same name.
Is there an auto liquidity option?
Yes, after the bank issues you the cheque book, it opens a Mixie Overdraft Account in your name. Any cheques issued in the future will be debited to this account only. The overdraft can be cleared with interest and customers can then make the most of revolving credit.
What is the interest rate on a Mixie Overdraft Account?
The interest rate applicable to a Mixie Overdraft account is usually 2% over and above the deposit rate.
What other charges will be applicable to the Mixie Overdraft account?
The bank does not levy other charges like folio charges, etc. to your Mixie Overdraft account.
What happens to the proceeds of Mixie upon maturity?
When the scheme has matured, proceeds of Mixie will be credited to clear the overdraft so that the balance can be credited to the depositor’s account. The depositor has the option to renew the deposit and continue the facility.
Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.
I have a Fixed Deposit in Bank of Maharashtra because its near to my place but the interest rate is very low compared to Punjab Maharashtra Cooperative Bank. It was opened before one year and have deposited 6L. I think the rate of interest is 8.25%. The services are excellent, I would suggest them to increase the interest rate.
Was this review helpful?
4
ASHWANI KUMAR DHAWAN
, new delhi
Reviewed on Jan 19, 2019
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.
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.
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?
8
ARUN SHANKAR KADAM
, pune
Reviewed on Apr 27, 2015
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.
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?
8
RAGHAVENDRA VISHWESWARARAO JINGADE
, bangalore
Reviewed on Dec 02, 2014
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.
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.
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?
4
GIRISH DOREPALLY
, hyderabad
Reviewed on Jul 29, 2014
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?
4
PRALHAD RAMNATH PAGAR
, pune
Reviewed on Jul 10, 2014
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?
16
SMITA SADANAND MESTRY
, mumbai
Reviewed on Jun 19, 2014
