Bank Maharashtra Fixed Deposit Interest Rates
FD Interest Rate in Bank of Maharashtra 2022
When it comes to the FD interest rate, the highest rate offered on Bank of Maharashtra FD is 4.90%. Latest Bank of Maharashtra FD interest rate for senior citizens, on the other hand, ranges between 2.75% to 5.40%.You can earn up to ₹ 24,500 per lakh by investing some money in a fixed deposit account.
| Time Duration | FD Interest Rates Today | Current FD Interest Rates for Senior Citizen |
|---|---|---|
| 7 days to 45 days | 2.75% | 2.75% |
| 46 days to 90 days | 3.25% | 3.25% |
| 91 days to 180 days | 3.50% | 4.00% |
| 120 days to 180 days | 3.75% | 4.25% |
| 181 days to 270 days | 4.00% | 4.50% |
| 271 days to 364 days | 4.25% | 4.75% |
| 1 year | 4.90% | 5.40% |
| 1 year 1 day to 2 years | 4.90% | 5.40% |
| 2 years 1 day to 3 years | 4.90% | 5.40% |
| 3 years 1 day to 10 years | 4.90% | 5.40% |
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Bank Maharashtra Fixed Deposit Features
Bank of Maharashtra FDs are one the best investment options available for depositors who are looking to invest in a fixed income instrument and earn higher returns than the savings account. Key Features of Bank of Maharashtra Fixed Deposit are:
Bank of Maharashtra FD Interest Rates Today
Interest rates on Bank of Maharashtra deposits are updated regularly by the Government of India. The following are updated Bank of Maharashtra FD interest rates 2022:
| Tenure | Interest Rate |
|---|---|
| 7 days to 45 days | 2.75% |
| 46 days to 90 days | 3.25% |
| 91 days to 180 days | 3.50% |
| 120 days to 180 days | 3.75% |
| 181 days to 270 days | 4.00% |
| 271 days to 364 days | 4.25% |
| 1 year | 4.90% |
| 1 year 1 day to 2 years | 4.90% |
| 2 years 1 day to 3 years | 4.90% |
| 3 years 1 day to 10 years | 4.90% |
Bank of Maharashtra FD Rates for Senior Citizens
With an aim to attract senior citizens above the age of 60 years to invest in the fixed deposits, Bank of Maharashtra offers a higher interest rate to senior citizens than the general public. Fixed deposit interest rates for senior citizens in Bank of Maharashtra 2022 are as follows:
| Tenure | Interest Rate for senior citizens |
|---|---|
| 7 days to 45 days | 2.75% |
| 46 days to 90 days | 3.25% |
| 91 days to 180 days | 4.00% |
| 120 days to 180 days | 4.25% |
| 181 days to 270 days | 4.50% |
| 271 days to 364 days | 4.75% |
| 1 year | 5.40% |
| 1 year 1 day to 2 years | 5.40% |
| 2 years 1 day to 3 years | 5.40% |
| 3 years 1 day to 10 years | 5.40% |
Bank of Maharashtra Fixed Deposit Rates – Premature Withdrawal
You can close your Bank of Maharashtra FD account prematurely, however Bank of Maharashtra charges a penalty of Nil for premature withdrawal. Also, The penal provisions for premature closure on Bank of Maharashtra FD are subject to change from time to time and may also vary with deposit schemes.
Nomination Facility on Bank of Maharashtra FD
Bank of Maharashtra also offers a nomination facility on Fixed Deposit to claim the amount in case of the depositor's death. You can file the details of only 1 nominee when opening an Bank of Maharashtra FD account. The nominee has to submit his/her identification proof at the time of claim.
Earn upto ₹ 24,500 Per Lakh on Bank of Maharashtra Fixed Deposit?
To earn ₹ 24,500 per lakh on an online FD for 60 months:-
Note: Before investing in a fixed deposit account, you must compare the FD rates offered by different financial institutions. This way, you can earn the maximum returns.
FD Account Opening Process at Bank of Maharashtra
To open an Bank of Maharashtra Fixed Deposit, follow the steps as mentioned below:
Loan Against Fixed Deposit Bank of Maharashtra
Bank of Maharashtra offers loans up to 0% against its own deposit. Note that Bank of Maharashtra will not give you loan against FD of any other bank. Bank of Maharashtra offers Loan against FD at the rate of 3.75% to 5.9%
Maximum loan tenure is restricted up to the maximum tenure of the FD.
FAQs
✅What is the highest fixed deposit interest rate for Bank of Maharashtra?
You can earn a maximum interest of 4.90% on Bank of Maharashtra fixed deposit deposits for a tenure of 10 months.
✅Are there any special rates for senior citizens FD of Bank of Maharashtra?
Yes, senior citizens get a higher rate on their deposits compared to FD rates. The rate of regular FD are in the range of 2.75% to 4.90%. Compared to this, Bank of Maharashtra senior citizens FD are in the range of 2.75% to 5.40%.
✅What are the current Bank of Maharashtra FD interest rates 2022?
Current interest for FD in Bank of Maharashtra ranges between 2.75% - 4.90%. for different tenure.The highest rate is offered on a tenure 5.40 months/years. For senior citizens the interest rates ranges bweteen 2.75% - 5.40%.
✅Is there any minimum amount that I have to give for opening a Fixed Deposit with Bank of Maharashtra?
The minimum deposit amount required to book an FD with Bank of Maharashtra is and there is no limit for maximum amount.
✅Is it possible to change the tenure of my existing fixed deposit account with Bank of Maharashtra?
No, it is not possible to alter the tenure selected for the fixed deposit account once the account is opened. However, you may close your existing fixed deposit account and can open a new account with a desired tenure of your choice.
✅What are the implications of opening an FD bank account without having PAN?
Following are the implications for the customers opening an FD account with Bank of Maharashtra without their PAN card
✅Can a customer open an FD account online in Bank of Maharashtra?
Yes, you can submit your application for opening an FD account on the website of Bank of Maharashtra. After submitting the application, you will be contacted by the bank’s representative for the further process, which includes filling an application process and submitting KYC documents.
✅In how many years FD will double in Bank of Maharashtra?
The interest rate on FD depends upon the tenure you choose. To know the time period in which your FD amount will get doubled, you need to divide 72 the 4.90%. For Bank of Maharashtra FD the number of years in which your FD will get doubled is; 72/4.90 = 15
✅What is the interest of 1 lakh in the Bank of Maharashtra?
The interest on Bank of Maharashtra fixed deposit depends on the tenure of the FD for which it is deposited. The highest interest rate is 4.90% for tenure
- 2021-08-16 : Bank of Maharashtra emerge as a top performer
Bank of Maharashtra has emerged as a top performer among public sector lenders in terms of loans and deposits. The bank has recorded 14.46 percent increase in gross advances at Rs 1,10,592 lakh crore in April-June period of 2021-22. - 2021-01-19 : ank of Maharashtra reported Q3 profit up of ₹154 crore
Bank of Maharashtra reported a net profit of Rs. ₹154 crores in the third quarter ended December 31, 2020, against ₹135 crores in the year-ago quarter. Advances that include home, personal, car, two-wheeler and gold loan along with business and mudra loans increased by 12 per cent year-on-year to ₹1,04,904 crore. Further, deposits which include FD and Rds increased by 14% to ₹1,61,971 crore. The share of the low-cost current account, savings account (CASA) deposits improved to 50.91% of total deposits from 50.51% in the preceding quarter. - 2020-10-12 : Bank of Maharashtra revised its FD rates
With effect from 9 October 2020, Bank of Maharashtra revised its fixed deposit rates. The FD rate for 7 to 45 days is 3%, it is 3.50% for 46 to 90 days and stands at 4% for 91 to 180 days. The fixed deposit rates for 181 to 364 days is 4.25% and stands at 4.90% for one year to above five years. - 2020-04-08 : Revised FD rates for Bank of Maharashtra
Bank of Maharashtra revised its fixed deposit rates, with effect from 7 April 2020. The FD rate for 7 to 45 days is 3.50%, it is 4.50% for 46 to 90 days and stands at 4.75% for 91 to 180 days. The fixed deposit rates for 181 to 364 days is 5%, it is 5.75% for one year and stands at 5.50% for one year to above five years. - 2020-01-21 : Bank Of Maharashtra reports Q3 profit of 135 crores
State-run Bank Of Maharashtra reported a Q3 profit of 135 crores in the quarter ending December. Net interest income increased to 36% to 1186 crore and fixed and recurring deposits increased by 4.4% to Rs 141986 crore. According to RBI, Bank restructured 3445 MSME account which constitutes business loans worth Rs 24747 lakh in the 2nd quarter of the current FY.
