Bank of Maharashtra

A Fixed Deposit scheme is a very winning financial tool amongst the standard population of India as it is a reliable and secure investment that allows a greater interest rate than a conventional account. It is supposed to be a little risk form of maintenance. The rewards are also comparatively small when associated with spending in the stock business, for instance, only the interests are independent of volatilization and fluctuation.

Features of Bank of Maharashtra Fixed Deposit

Investment Amount Minimum - Rs.100 Maximum- No Maximum Limit

Tenure Minimum - 7 daysMaximum- 10 Years

Interest Rate Minimum - 3.00 %Maximum- 5.25%

Bank of Maharashtra Fixed Deposit Rates 2020

Bank of Maharashtra FD Rates in India
Tenure	General Public FD Rates	Senior Citizen FD Rates
7 days to 45 days	3.00%	3.50%
46 days to 90 days	3.75%	4.25%
91 days to 180 days	4.00%	4.50%
181 days to 270 days	4.50%	5.00%
271 days to 364 days	4.50%	5.00%
1 year	5.25%	5.75%
1 year 1 day to 2 years	5.25%	5.75%
2 years 1 day to 3 years	5.25%	5.75%
3 years 1 day to 10 years	5.25%	5.75%

Comparison of FD Rates by Top 10 Financial Institutes

Name	Interest Rates	Tenure
Axis Bank	5.75%	5 years to 10 years	View Details
Bank of Baroda	5.30%	5 years 1 day to 10 years	View Details
Bank of India	5.40%	5 years to 10 years	View Details
Canara Bank	5.45%	3 years to 10 years	View Details
Central Bank of India	5.35%	5 years to 10 years	View Details
HDFC Bank	5.50%	5 years 1 day to 10 years	View Details
ICICI Bank	5.50%	5 years 1 day to 10 years	View Details
IDBI Bank	5.70%	7 years 1 day to 10 years	View Details
State Bank Of India	5.40%	5 years to 10 years	View Details
Yes Bank	7.00%	1 year to 10 years	View Details

FD in Bank of Maharashtra

The rate of interest given on a fixed deposit alters according to the amount collected, time and the issuing bank. The basic rule of thumb is, the extended the period of deposit, the greater the interest rate, though a bank can also provide a lower rate of interest for extra significant ownership if the FD rate of interests are assumed to fall in the future. Bank of Maharashtra FD Rates lies between 4% and 8% yearly.

Key highlights of Bank of Maharashtra Fixed Deposit Interest Rates:

Interest rates on FD by Bank of Maharashtra are as high as 7.00% yearly.
Interest paid on savings with Bank of Maharashtra is compounded every three months.
Bank of Maharashtra starts accepting deposits from at Rs. 1000 for different tenures.
For senior citizens of age above 60 years, the Bank provides greater FD rate of interests

Bank of Maharashtra Fixed Deposit Rates

It is advisable to reconfirm the FD Rates from the bank before making any decision on basis of data provided below.

For Domestic Deposits - Less than Rs. 1 cr (As on Jan 16, 2017)

MATURITY PERIOD	DEPOSIT AMOUNT	INTEREST RATE (% p.a.)
MATURITY PERIOD	DEPOSIT AMOUNT	General	Senior Citizen
7 days to 45 days	Less than Rs. 1 cr	4.25	4.25
46 days to 90 days	Less than Rs. 1 cr	5.25	5.25
91 days to 364 days	Less than Rs. 1 cr	6	6.5
365 Days	Less than Rs. 1 cr	6.5	7
1 year to less than 3 years	Less than Rs. 1 cr	6.25	6.75
3 years Mahalaximi	Less than Rs. 1 cr	6.25	6.75
Over 3 years	Less than Rs. 1 cr	6	6.5

Tax Saver FD (Max Deposit - 1 LPA)

MATURITY PERIOD	DEPOSIT AMOUNT	INTEREST RATE (% p.a.)
MATURITY PERIOD	DEPOSIT AMOUNT	General	Senior Citizen

Mahabank Tax Saving Scheme - 5 Years	Upto Rs. 1 lakh	6	6.5

Tax Implications

The amount invested in Fixed Deposit with a tenure of 5 years with Bank of Maharashtra is eligible for tax deduction under IT section 80C, whereas the interest earned on the investment is taxable.
The applicable tax will be deducted at source, i.e. Bank of Maharashtra, in case the annual interest earned crosses Rs. 10,000.

For NRO Fixed Deposit - Less than Rs. 1 cr (As on Jan 16, 2017)

MATURITY PERIOD	DEPOSIT AMOUNT	INTEREST RATE (% p.a.)
7 days to 45 days	Less than Rs. 1 cr	4.25
46 days to 90 days	Less than Rs. 1 cr	5.25
91 days to 364 days	Less than Rs. 1 cr	6
1 year to less than 3 years	Less than Rs. 1 cr	6.25
365 Days	Less than Rs. 1 cr	6.5
3 years Mahalaximi	Less than Rs. 1 cr	6.25
Over 3 years	Less than Rs. 1 cr	6

For NRE Fixed Deposit - Less than Rs. 1 cr (As on Jan 16, 2017)

MATURITY PERIOD	DEPOSIT AMOUNT	INTEREST RATE (% p.a.)
1 year to less than 3 years	Less than Rs. 1 cr	6.25
3 years Mahalaximi	Less than Rs. 1 cr	6.25
Over 3 years	Less than Rs. 1 cr	6