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Bank of Maharashtra Recurring Deposit Interest Rates 2021

Bank of Maharashtra offers the Recurring Deposit (RD) scheme at attractive interest rates with a tenure ranging between 6 months and 120 months. Loans can be availed against the balance that is available in the account. Senior citizens are provided an additional interest rate as well.

181 days to 270 days 4.75% p.a.
271 days to less than 1 year 5.00% p.a.
1 year to less than 2 years 5.50% p.a.
2 years to less than 3 years 5.50% p.a.
3 years to less than 5 years 5.65% p.a.
5 years and more 5.75% p.a.

Note: The rates of interest mentioned above are effective from 11 January 2021.

Get the best rates for a Bank of Maharashtra Recurring Deposit

Bank of Maharashtra offers excellent recurring deposit schemes as part of its retail banking portfolio. As one of the leading public sector institutions, Bank of Maharashtra offers three types of recurring deposit schemes. Customers can enjoy multiple benefits on their recurring deposit accounts inclusive of no TDS, nomination facility, loan facility of up to 90% on the RD account and transfer of accounts from one branch to another. A Bank of Maharashtra recurring deposit can be opened with a minimum monthly installment amount of Rs. 50, for tenures ranging from 6 to 12 months. The monthly installment amount can be incremented in multiples of Rs. 10 after that. Deposit account holders can make payments via cash or by transferring funds from a savings or current account by setting standing instructions.

Bank of Maharashtra - Short Term Recurring Deposit Interest Rates

Bank of Maharashtra offers a short term recurring deposit with a tenure of 1 year, for deposit amounts lesser that Rs. 2 crore. The interest rate offered on this type of deposit account is up to 4.90% for Indian citizens.

Bank of Maharashtra - Medium and Long Term Recurring Deposit Interest Rates

If a customer wants to go for a recurring deposit scheme with a medium term, he should opt for the recurring deposit plan with a tenure ranging between 1 year and 5 years. The interest rate offered 4.90% p.a.

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