9 Things to Know about Bank of Maharashtra Fixed Deposit Interest rates

Written by Sravan

Published on:

The Bank of Maha FD rates on Domestic Term Deposits less than Rs. 2 Crores W.e.f 28-02-2024 is as follows.

An additional interest will be paid to Staff and Retired Staff of Bank of Maharashtra is given below

1. Who can open FD account with Bank of Maharashtra

Minors, Individuals, Firms, Body Corporates, Clubs can open a Fixed Deposit with Bank of Maharashtra

2. What is the highest interest rate one can earn on fixed deposits by the Bank of Maharashtra?

Regular citizens who deposit money for a period of 200 days under Special scheme can get interest upto 7.00% p.a. In case of Regular Fixed deposits, General citizens can earn highest interest of 6.50% for a tenure of 1 year.

3. What is the Minimum deposit amount for Bank of Maharashtra FD

The Bank of Maharashtra Regular FD starts with a Minimum deposit of Rs.100/- for selected products.

4. What is the highest and lowest rate of interest on FD schemes by the Bank of Maharashtra ?

In case of Regular FD’s below Rs.2 Crores, the lowest interest rate Regular citizens can get is upto 2.75% p.a. for a tenure of 7-30 days.
The highest interest rate, the Regular citizens can get is upto 6.50% p.a. for a tenure of 1 year.

5. What is the FD plan of Bank of Maharashtra?

4 FD Plans of Bank of Maharashtra are
1. Maha Saraswati Scheme
2. Monthly Interest Deposit Scheme
3. Quarterly Interest Deposit Scheme
4. Tax Saving Term Deposit scheme

6. What is the Maximum deposit limit in Maha Saraswati Scheme in bank of Maharashtra ?

The Maximum deposit limit in Maha Saraswati Scheme in bank of Maharashtra is Rs.50,000/-

7. What is the Maximum deposit limit in Bank Term Deposit Scheme ?

The Maximum deposit limit in Bank Term Deposit Scheme is Rs.1,50,000/- per financial year i.e. from 1st Apr to 31st Mar.

8. BOM 200 Days interest rate for Senior citizens

The Bank of Maharashtra offers for a 200-day Fixed Deposit for the Senior Citizen is 7.50% per annum. Senior citizens will get extra 0.50% interest as compared to Regular citizens.

9. BOM 400 Days interest rate for Senior citizens

The Bank of Maharashtra offers for a 400-day Fixed Deposit for the Senior Citizen is 7.25% per annum.

Author is a Qualified CMA with rich industry experience for more than 6 years. He is an All India Ranker (AIR-101) in CMA and also a Semi-Qualified Chartered Accountant having a quite good experience in teaching the subjects of Accounting and Costing to the commerce aspirants.

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