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Guide to Bank of Maharashtra FD Interest Rates
Reviewed by: Fibe Research Team
- Published on: 4 Dec 2024
Reviewed by: Fibe Research Team
The Bank of Maharashtra offers diverse tenure options on FDs with competitive interest rates. While the Bank of Maharashtra FD rates are quite lucrative, they have a range of special tenures that come with higher rates as well. Just like any other bank FD, you can also get higher interest as a senior citizen.
Read on to learn about the Maharashtra Bank fixed deposit rate across different timelines and make a smart decision.
Here is a list of Bank of Maharashtra FD rates, which you can get for deposits under ₹3 crores.
| Investment Tenure | Annual Interest Rate for Regular Citizens | Annual Interest Rate for Senior Citizens |
|---|---|---|
| 7 days to 30 days | 2.75% | 2.75% |
| 31 days to 45 days | 3% | 3% |
| 46 days to 90 days | 4.75% | 4.75% |
| 91 days to 119 days | 5% | 5.50% |
| 120 days to 180 days | 5.25% | 5.75% |
| 181 days to 270 days | 5.75% | 6.25% |
| 271 days to 364 days | 5.75% | 6.25% |
| 1 year | 6.75% | 7.25% |
| Above 1 year to 2 years | 6.50% | 7.00% |
| Above 2 years to 3 years | 6.50% | 7.00% |
| Above3 years to 5 years | 6.50% | 7.00% |
| Above 5 years | 6.50% | 7.00% |
Disclaimer: Interest rates are subject to change. Please check the latest rates before you invest.
If you invest a higher sum, then the interest rates may vary. Furthermore, existing or retired spouse of bank staff get an additional 1% interest on their deposit. If you withdraw your FD deposit before the tenure, it attracts a penalty of 1% of the offered Maharashtra Bank fixed deposit rate.
Also Read : Short Term FD vs Long Term FD
This bank also offers higher interest rates for certain tenures. These special Bank of Maharashtra FD rates are as follows:
| Investment Tenure | Annual Interest Rate for Regular Citizens | Annual Interest Rate for Senior Citizens |
|---|---|---|
| 200 days | 6.90% | 7.40% |
| 333 days | 7.35% | 7.85% |
| 400 days | 7.10% | 7.60% |
| 777 days | 7.25% | 7.75% |
Disclaimer: Interest rates are subject to change. Please check the latest rates before you invest.
Here are some features that make the Bank of Maharashtra FD an ideal choice:
You can follow the below-mentioned steps to successfully open your fixed deposit account:
Within the next 24 hours, you will receive confirmation via SMS.
To open your FD account via your Bank of Maharashtra mobile app, follow these steps:
If you are more comfortable with the offline process, you can also go to your nearest Bank of Maharashtra branch and book your FD. You will need to follow these steps:
Fixed deposit rates in the Bank of Maharashtra are competitive, and you can earn attractive returns. You can choose to receive the payout at maturity or regular intervals as per your preferences. Remember, special returns have the highest fixed deposit rates in the Bank of Maharashtra.
Across most tenures, senior citizens get comparatively higher fixed deposit rates in the Bank of Maharashtra. These rates are around 0.50% higher than those offered to non-senior citizens.
To open a Bank of Maharashtra Fixed Deposit FD account you will have to submit your ID and address proof for verification. However, a PAN card is not mandatory. If you have other proofs available, you can submit them.
