Bank of Maharashtra FD Interest Rates 2021 - Check Latest Interest Rate Upto 4.90%

Home>FD>Bank of Maharashtra

share
Bank of MaharashtraFixed Deposit
2.75% -4.90%
Interest rates
3 months to 10 years
Time Period
1000 - no limit
Min. - Max amount
QUARTERLY
Compounding
About Bank of MaharashtraThe Bank of Maharashtra is a significant Indian government-owned bank that is controlled by the Ministry of Finance. As of March 25, 2021, the bank had 15 million clients and 1,900 locations around the country. It has the most branch network of any public sector bank in the state of Maharashtra. Bank of Maharashtra provides a variety of FD accounts intending to help its clients to produce substantial returns on their investments at a set interest rate and for a predetermined duration. Simultaneously, these FDs assist individuals in maintaining liquidity. Bank of Maharashtra FDs serve the twin aim of providing consistent savings as well as consistent income.
Read More
Started On1935
Head QuartersPune
CRISIL RatingNA
CEOA. S. Rajeev
Listed on exchange asBank of Maharashtra
ICRA RatingNA
Latest Bank of Maharashtra Interest RatesTenureRegular customersSenior citizens
7 days - 45 days
2.75%
3.25%
46 days - 90 days
3.25%
3.75%
91 days - 119 days
3.50%
4.00%
120 - 180 days
3.75%
4.25%
181 - 270 days
4.00%
4.50%
271 - 364 days
4.25%
4.75%
365 days (1 year)
4.90%
5.40%
Over 1 year - 2 years
4.90%
5.40%
Over 2 years - 3 years
4.90%
5.40%
Over 3 years - 5 years
4.90%
5.40%
5 years & above
4.90%
5.40%
Features & Benefits of Bank of MaharashtraThere is a nomination facility provided (not for accounts in the name of a minor)
Accounts can be moved between the Bank of Maharashtra branches.
Deposits are accepted in multiples of Rs. 100. (plus min. deposit amount of Rs. 1000)
Individuals (own or children), joint depositors, businesses, clubs, and so forth can open accounts.
Types of Bank of Maharashtra SchemesMonthly Interest Deposit Scheme
keyboard_arrow_down
The monthly Interest Deposit Scheme of the Bank of Maharashtra is an excellent choice for investors looking to earn extra money every month. 
In this case, the interest gained is paid out monthly, serving as an additional source of income for the investors.
Minimum tenure: 12 months - 120 months The amount of the deposit is Rs. 1,000.
Interest Rates: Interest is computed monthly at a discounted rate, and accumulated interest is paid monthly.
Senior Citizen Rates: Additional 0.50% interest rate
Loan against FD: Up to 90% of the deposit is available.
Tax Saving Term Deposit
keyboard_arrow_down
Bank of Maharashtra has extended its Tax Saving Term Deposit, under which the interest received can be claimed as a deduction under Section 80 C of the Income Tax Act, 1961. Investors can deduct up to Rs. 1.5 lakh every fiscal year. 
Tenure: 5 years
Amount of deposit: Rs. 100 – Rs. 1.5 lakh each fiscal year
Premature Withdrawal: This option is not available.
Loan against FD: This option is not available.
Quarterly Interest Deposit Scheme
keyboard_arrow_down
This program provides consumers with the benefits of a fixed deposit (a safe investment with guaranteed returns) as well as regular income. 
The interest earned by this scheme's investors is paid to them quarterly. In this manner, investors might earn extra money at regular periods. 
Minimum tenure: 12 months – 120 months The amount of the deposit is Rs. 1,000.
Interest Compounding Period: Quarterly; Interest Paid: Quarterly
Senior Citizen Rates: Additional 0.50% interest rate
Loan against FD: Up to 90% of the deposit is available.
Medium-Term Deposits
keyboard_arrow_down
A Medium-term fixed deposit, that is, from 1 year to 5 years, withhold interest rates is 4.90% for general customers and is 5.40% for senior citizens according to the period of lock-in.
Long-Term Deposits
keyboard_arrow_down
These are the deposits which ranges from 5 years to 10 years. Interest provided by Bank of Maharashtra in these type of FDs is 4.90%.
Term-wise interest ratesShort-Term Deposits
keyboard_arrow_down
The Period that begins from 7 days to 1 year or less than a year are known as short term fixed deposits, and their interest rates start from 2.75% to 4.25% depending on the number of days of the deposit for general customers, and it is from 4.25% to 4.75% for the senior citizens.
Comparison of FD RatesNameTenureInterest rate
AXIS Bank
3 months - 10 years
2.50% - 5.75%
Deposit Now
SBI Bank
3 Months - 10 Years
2.90% - 5.40%
More Details
Equitas Bank
3 months - 10 years
3.50% - 6.50%
Deposit Now
Bajaj Finance
1 year - 5 years
5.65% - 6.50%
Deposit Now
HDFC Bank
3 months - 10 years
2.50% - 5.50%
More Details
ICICI Bank
3 months - 10 years
2.50% - 5.50%
More Details
Canara Bank
3 months - 10 years
2.95% - 5.50%
More Details
Bank of Baroda
3 months to 10 years
2.80% - 5.25%
More Details
Punjab National Bank
3 months - 10 years
3.00% - 5.25%
More Details
IDBI Bank
3 months - 20 years
2.70% - 4.80%
More Details
Indian Bank
3 months - 10 years
2.90% - 5.25%
More Details
UCO Bank
3 months - 10 years
2.75% - 5.00%
More Details
Yes Bank
3 months - 10 years
3.25% - 6.50%
More Details
Bank of India
3 months - 10 years
2.85% - 5.15%
More Details
Post Office
1 year - 5 years
5.50% - 6.70%
More Details
Union Bank of India
3 months - 10 years
3.00% - 5.60%
More Details
RBL Bank
3 months -20 years
3.25% - 6.00%
More Details
Indian Overseas Bank
3 months - 10 years
3.40% - 5.20%
More Details
IDFC First Bank
3 months - 10 years
2.75% - 4.20%
More Details
LIC
1 Year - 5 Years
5.25% -6.00%
More Details
Saraswat Bank
3 Months - 10 Years
3.10% - 6.35%
More Details
City Union Bank
3 Months - 10 Years
3.00% - 5.25%
More Details
Co-operative Banks
1 Year -5 Years
6.00% - 6.35%
More Details
Bandhan Bank
3 months - 10 years
3.00% - 5.00%
More Details
DBS Bank
3 months - 10 years
2.50% - 5.50%
More Details
Citibank
3 months - 5 years
1.85% - 3.5%
More Details
ICICI Home Finance
1 year - 10 years
5.70% - 6.65%
More Details
Federal Bank
3 months - 10 years
2.5% - 5.6%
More Details
AU Small Finance Bank
3 months - 10 years
3.5% - 6.25%
More Details
Fincare Small Finance Bank
3 months - 7 years
3.00% - 5.50%
More Details
Jana Small Finance Bank
3 months - 10 years
2.5% - 6%
More Details
Ujjivan Small Finance Bank
3 months - 10 years
3.05% - 5.80%
More Details
Utkarsh Small Finance Bank
3 months - 10 years
3.00% - 6.75%
More Details
Karnataka Bank
3 months - 10 years
3.40% - 5.60%
More Details
Karur Vysya Bank
3 months - 10 years
3.25% - 3.50%
More Details
Jammu and Kashmir Bank
3 months - 10 years
2.90% - 4.00%
More Details
South Indian Bank
3 months - 10 years
3.50% - 5.50%
More Details
Punjab and Sind Bank
3 months - 10 years
3.00% - 5.30%
More Details
Standard Chartered Bank
7 days - 5 years
1.75% - 5.35%
More Details
HSBC Bank
7 days - 5 years
2.25% - 4.00%
More Details
Shriram Transport Finance
1 year - 5 years
7.01% - 7.95%
More Details
Tamilnad Mercantile Bank
3 months - 10 years
3.50% - 5.50%
More Details
IndusInd Bank
3 months - 10 years
2.50% - 5.50%
More Details
Central Bank of India
3 months - 10 years
2.75% - 5.00%
More Details
Kotak Mahindra Bank
3 months - 10 years
2.50% - 5.25%
More Details
DHFL
1 year - 10 years
8.25% - 8.95%
More Details
DCB Bank
3 months - 10 years
4.35% - 5.95%
More Details
FAQsWho should fill out Form 15G/15H?
keyboard_arrow_down
Form 15G/ 15H is for people who do not have taxable income, i.e. those earning less than Rs. 2.5 lakh per year. Form 15H is for citizens above the age of 60, whereas Form 15G is for people under the age of 60.
What happens if your PAN isn't updated in your bank's records?
keyboard_arrow_down
If the customer's PAN is not updated in the bank's records, the bank will levy a TDS of 20%.
What are the highest Bank of Maharashtra fd rates 2021 available?
keyboard_arrow_down
Customers may earn up to 4.90%on FDs with terms ranging from 365 days to 5 years.
Do older citizens receive any additional benefits when investing in Bank of Maharashtra FD Schemes?
keyboard_arrow_down
Yes, elderly persons receive a 0.5% interest rate discount on the current Bank of Maharashtra fixed deposit rates.
 Is it possible to open a Bank of Maharashtra Fixed Deposit without a PAN card?
keyboard_arrow_down
Yes, you can open a Fixed Deposit with the Bank of Maharashtra without a PAN card.
What documents do I need to open the FD?
keyboard_arrow_down
Customers must submit the following papers to apply for any of the fixed deposit programs and receive high returns on Bank of Maharashtra FD interest rates:
Identity Documentation (Passport, Voter ID Card, Ration Card, etc.)
Address Proof (Aadhaar Card, Passport, Driving License, etc.)
A passport-sized picture (s)
 Can I withdraw the investment before maturity?
keyboard_arrow_down
If necessary, the bank permits its customers to make early withdrawals. However, the following considerations must be made when using the facility:
This is not an option for tax-advantaged term deposits.
Interest will be paid only for the period deposits were held with the bank, not for the whole term agreed upon at the time of signing.
There will be no penalty for deposits with maturities of up to one year.
There will be a 1% penalty on the relevant rate of interest for deposits maturing in more than one year.

Tenure	Regular customers	Senior citizens
7 days - 45 days	2.75%	3.25%
46 days - 90 days	3.25%	3.75%
91 days - 119 days	3.50%	4.00%
120 - 180 days	3.75%	4.25%
181 - 270 days	4.00%	4.50%
271 - 364 days	4.25%	4.75%
365 days (1 year)	4.90%	5.40%
Over 1 year - 2 years	4.90%	5.40%
Over 2 years - 3 years	4.90%	5.40%
Over 3 years - 5 years	4.90%	5.40%
5 years & above	4.90%	5.40%

Name	Tenure	Interest rate
AXIS Bank	3 months - 10 years	2.50% - 5.75%	Deposit Now
SBI Bank	3 Months - 10 Years	2.90% - 5.40%	More Details
Equitas Bank	3 months - 10 years	3.50% - 6.50%	Deposit Now
Bajaj Finance	1 year - 5 years	5.65% - 6.50%	Deposit Now
HDFC Bank	3 months - 10 years	2.50% - 5.50%	More Details
ICICI Bank	3 months - 10 years	2.50% - 5.50%	More Details
Canara Bank	3 months - 10 years	2.95% - 5.50%	More Details
Bank of Baroda	3 months to 10 years	2.80% - 5.25%	More Details
Punjab National Bank	3 months - 10 years	3.00% - 5.25%	More Details
IDBI Bank	3 months - 20 years	2.70% - 4.80%	More Details
Indian Bank	3 months - 10 years	2.90% - 5.25%	More Details
UCO Bank	3 months - 10 years	2.75% - 5.00%	More Details
Yes Bank	3 months - 10 years	3.25% - 6.50%	More Details
Bank of India	3 months - 10 years	2.85% - 5.15%	More Details
Post Office	1 year - 5 years	5.50% - 6.70%	More Details
Union Bank of India	3 months - 10 years	3.00% - 5.60%	More Details
RBL Bank	3 months -20 years	3.25% - 6.00%	More Details
Indian Overseas Bank	3 months - 10 years	3.40% - 5.20%	More Details
IDFC First Bank	3 months - 10 years	2.75% - 4.20%	More Details
LIC	1 Year - 5 Years	5.25% -6.00%	More Details
Saraswat Bank	3 Months - 10 Years	3.10% - 6.35%	More Details
City Union Bank	3 Months - 10 Years	3.00% - 5.25%	More Details
Co-operative Banks	1 Year -5 Years	6.00% - 6.35%	More Details
Bandhan Bank	3 months - 10 years	3.00% - 5.00%	More Details
DBS Bank	3 months - 10 years	2.50% - 5.50%	More Details
Citibank	3 months - 5 years	1.85% - 3.5%	More Details
ICICI Home Finance	1 year - 10 years	5.70% - 6.65%	More Details
Federal Bank	3 months - 10 years	2.5% - 5.6%	More Details
AU Small Finance Bank	3 months - 10 years	3.5% - 6.25%	More Details
Fincare Small Finance Bank	3 months - 7 years	3.00% - 5.50%	More Details
Jana Small Finance Bank	3 months - 10 years	2.5% - 6%	More Details
Ujjivan Small Finance Bank	3 months - 10 years	3.05% - 5.80%	More Details
Utkarsh Small Finance Bank	3 months - 10 years	3.00% - 6.75%	More Details
Karnataka Bank	3 months - 10 years	3.40% - 5.60%	More Details
Karur Vysya Bank	3 months - 10 years	3.25% - 3.50%	More Details
Jammu and Kashmir Bank	3 months - 10 years	2.90% - 4.00%	More Details
South Indian Bank	3 months - 10 years	3.50% - 5.50%	More Details
Punjab and Sind Bank	3 months - 10 years	3.00% - 5.30%	More Details
Standard Chartered Bank	7 days - 5 years	1.75% - 5.35%	More Details
HSBC Bank	7 days - 5 years	2.25% - 4.00%	More Details
Shriram Transport Finance	1 year - 5 years	7.01% - 7.95%	More Details
Tamilnad Mercantile Bank	3 months - 10 years	3.50% - 5.50%	More Details
IndusInd Bank	3 months - 10 years	2.50% - 5.50%	More Details
Central Bank of India	3 months - 10 years	2.75% - 5.00%	More Details
Kotak Mahindra Bank	3 months - 10 years	2.50% - 5.25%	More Details
DHFL	1 year - 10 years	8.25% - 8.95%	More Details
DCB Bank	3 months - 10 years	4.35% - 5.95%	More Details

Calculate Bank of Maharashtra FD Interest

Investment Amount

₹25,000

Time Period

9 Months

1 Year

2 Years

3 Years

Maturity Amount

Bank of Maharashtra

₹0

@4.9% p.a

Get higher interest rates
online upto 0%

Check Now

No.11, 2nd floor, 80 FT Road
4th Block, S.T Bed, Koramangala
Bengaluru – 560034
Contact Us
PRODUCTS
StocksFutures & OptionsMutual FundsFixed DepositUS Stocks
GROWW
About UsPricingBlogMedia & PressCareersHelp and Support
QUICK LINKS
AMC Mutual FundsCalculatorsGlossaryOpen Demat AccountGroww DigestSitemap
ⓒ 2016-2021 Groww. All rights reserved, Built with ♥in India

CEO	A. S. Rajeev
Listed on exchange as	Bank of Maharashtra
ICRA Rating	NA