Bank of Maharashtra offers quite good interest rates especially for one year and above. It is almost same ranging from 6.50 to slightly above 6.80 for 1 to 10 years. There are a few schemes under which the deposited amount gets doubled.

The tenure for doubling of the amount is just 92 months. There are better interest rates for senior citizens and amount gets doubles a few months early in their case i.e. 87 months. The schemes keep changing and so does the interest rates. There are some other offers like Mahalakshmi‘ and ‘444‘ days.

Read: Canara Bank Fixed deposit interest rates

One should be wise enough to choose the best for oneself. Fixed deposits are any wise investor’s first choice but among so many banks and their yet so many schemes prevailing in the market, it takes a lot to decide which bank and its scheme is good to go with. Bank of Maharashtra has all those things which can attract investors. The below interest rates are effective from 1 December, 2016.

Bank of Maharashtra fd interest rates

Full Table for Bank of Maharashtra Domestic/NRO Fixed deposits:

For Deposits Below 1 CroreFor Deposits Above 1-5 Crore
7 – 14 Days4.75NA
15 – 30 Days4.75NA
31 – 45 Days4.75NA
46 – 60 Days5.75NA
61 – 90 Days5.75NA
91 Days – 180 Days6.50NA
181 Days – 270 days6.50NA
271 Days – 1 year6.50NA
1 Year – 2 Years6.75NA
2 Years – 3 Years6.75NA
3 Years – 5 Years6.50NA
5 Years – 10 Years6.50NA

NRE deposit Rates:

Maturity Range Below 1 crore (%p.a.)1-5 crore (%p.a.)
1 year 6.75 NA
 1 year – 443 days6.75 NA
 444 days (Mahanidhi)6.75 NA
 445-665 days 6.75NA
 666 days (maha labh) 6.75NA
 667 days – 2 years 6.75NA
 2-3 years 6.75NA
 3 years (Mahalaximi) 6.80NA
 3-5 years 6.50NA
 5-10 years 6.50NA

Table Updated: 3 January, 2017

Calculate Maturity Value now

From Table, For Fixed deposits of higher period and higher amount interest rates will be higher. So Bank of Maharashtra is good place for investors to get higher interest rates.

Important Notes:

  • Senior citizens from India will get .50% additional interest rate for deposit below 1 crore and time period above 90 days. Additional interest is not allowed for NRE deposits.
  • You have to contact branch from deposits above 5 crore.
  • No interest will be paid for withdrawing money before 1 year in case of NRE deposits. Above one year, you have to face 1% penalty for premature withdrawing.

Also Check: Bank of Baroda Fixed deposit interest rates

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  1. I am retired senior citizen. Please mail me such products for my knowledge as well interest rates.

  2. I want to deposit 2000000 in latest scheme after superannuating on 31.07.2013 in bom. what will be monthly income to me.

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