Bank of Maharashtra FD Calculator

FD Calculator Bank of Maharashtra in India Apr 2018

Tenure Rates Maturity Amount for Rs. 1 Lakh
7 days to 45 days 4.25% to 4.25% Rs. 100,082 - Rs.100,524
46 days to 90 days 5.25% to 5.25% Rs. 100,662 - Rs.101,295
91 days to 364 days 6.00% to 6.50% Rs. 101,496 - Rs.106,641
1 year 6.50% to 7.00% Rs. 106,660 - Rs.107,186
1 year 1 day to 3 years 6.25% to 6.75% Rs. 106,416 - Rs.122,239
3 years 1 day to 10 years 6.00% to 6.50% Rs. 119,582 - Rs.190,556
Bank of Maharashtra FD Maturity Calculator

Bank of Maharashtra Fixed Deposit Calculator

Bank of Maharashtra, a leading Public Sector Bank in India offers attractive interest rates upto 6.50% on its fixed deposits.
FD maturity amount that you will get depends upon

  • Deposit amount
  • Rate of interest
  • FD tenure
  • Compounding frequency
  • TDS applicability and TDS rate

Bank of Maharashtra Fixed Deposit Interest Calculator

  • In a periodic interest payout option, Bank of Maharashtra would transfer the interest earned at each interval (say, quarterly) to your bank account. The interest would remain the same across the life of the deposit. On maturity, unless the deposit is renewed, would transfer the principal amount to your bank account.
  • In case you opt for a Bank of Maharashtra cumulative deposit, on maturity you would get a credit for the principal and interest earned net of TDS.
  • Calculate the FD maturity amount using the FD calculator.

Tax on Fixed Deposit Bank Maharashtra

  • In case the interest earned by you across all your fixed deposits across all branches of Bank of Maharashtra in a year exceeds 10,000, the bank must deduct TDS at 10.3%. In case your IT PAN is not updated in the Bank of Maharashtra records, it must deduct twice the TDS at 20.6%. So, do remember to update your PAN on your FD.
  • Sorry, but we aren’t done with tax yet. This was only the TDS. Now, you would need to add the interest income on all your Bank of Maharashtra FD’s and other FD’s to your taxable income for the year. Based upon your tax bracket, income tax is payable on this income. Remember that you must estimate the interest income and all your other incomes and, based on this, pay advance tax on advance tax payment dates (15th Sep, 15th Dec, 15th March and 31st March).
  • Bank of Maharashtra will also issue you a Form 16A giving details of tax deducted on FD interest and tax deposited by it with government treasury. The TDS amount deposited by the bank with Income Tax Department can be verified in your 26AS statement available online on IT department website or through your net banking account. You can claim credit for the TDS amount in your annual Income Tax Return.

Bank of Maharashtra FD interest rate calculator – Check your city

  • Keep your KYC documents - PAN card, address proof and photo ready.
  • To know more or apply, contact any of the branches of Bank of Maharashtra in your city

Frequently Asked Questions on FD Calculator Bank of Maharashtra

What is the highest interest earned on Bank of Maharashtra fixed deposit?

You can earn a maximum interest of 6.50% on Bank of Maharashtra fixed deposit.

Are there any extra benefits for senior citizens on fixed deposit of Bank of Maharashtra ?

Yes, senior citizens get extra benefit of 0.5% interest rates on their FD in Bank of Maharashtra.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.