What is the interest rate for NRE FD in Bank of Maharashtra?

The NRE FD interest rates at Bank of Maharashtra range from 6.50% to 7.45%.

Is NRE FD tax-free at Bank of Maharashtra?

Yes, interest earned on NRE FDs is tax-free at the Bank of Maharashtra.

What is the minimum tenor of NRE deposits in the Bank of Maharashtra?

The minimum tenor for NRE deposits is one year at the Bank of Maharashtra.

Can I keep an FD in my NRE account at Bank of Maharashtra?

Yes, you can open an FD in your NRE account at Bank of Maharashtra.

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Bank of Maharashtra NRE FD Rates

Bank of Maharashtra NRE FD rates range from 6.50% to 7.45%, contributing a safe and guaranteed return investment option to grow your wealth. With wide-ranging tenures, the NRE FD interest rates in 2025 remain competitive with those of their industry counterparts. In this article, you will learn the details of Bank of Maharashtra NRE FD rates in India for 2025.

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Bank of Maharashtra Interest Rates on NRE FD Account Deposits

Bank of Maharashtra provides higher NRE Fixed Deposit Interest Rates for various tenors, catering to your needs as investors. The rates amounting to less than ₹3 crore are as follows:

Deposit Tenor	Interest Rate (p.a.) Below ₹3 Cr
365 Days/ 1 year	6.75
Above 1 year to 2 years	6.50
Above 2 years to 3 years	6.50
Above 3 years to 5 years	6.50
Above 5 years	6.50
Special Schemes
366 Days	7.45
555 Days	7.40
777 Days	7.25

Note: Interest rates are effective January 2025. Bank of Maharashtra NRE FD rates are subject to change without prior notice.

Features of Bank of Maharashtra NRE Fixed Deposits

Fixed Deposit is one of the best investment options for NRIs in India. Bank of Maharashtra’s Term deposits (also known as Fixed Deposits) offer special benefits fulfilling the needs of many Non-Resident Indians. The features offered by Bank of Maharashtra NRE FD are:

Interest earned on Bank of Maharashtra’s NRE FDs is tax-free.
Both the principal and interest on Bank of Maharashtra NRE FDs are fully repatriable.
Bank of Maharashtra offers higher interest rates on NRE FD accounts than that of savings accounts.
The NRE FD currencies are maintained in Indian rupees by Bank of Maharashtra to avoid the risk of fluctuating exchange rates during the deposit period.

What Are the Eligibility Criteria for a Bank of Maharashtra NRE FD Account?

The following conditions are to be fulfilled in order to open a Bank of Maharashtra NRE FD account:

The candidate must be a non-resident individual of Indian origin.
The candidate must belong to the category of a foreign national or a foreign national student.
A document to verify Indian and overseas addresses.
Must have one copy of a valid passport.
Proof to establish NRI, foreign national, foreign national student, PIO, or OCI status.

How to Open a Bank of Maharashtra NRE FD Account

Existing or new customers who have qualified for NRI eligibility can open an NRE account with Bank of Maharashtra first, and then open an NRE FD account. Applicants are requested to follow the bank's instructions to book an NRE FD with the bank.

Documents Required to Open a Bank of Maharashtra NRE FD Account

To open the Bank of Maharashtra NRE FD account, the following general documents are to be submitted by you for the bank to review before opening your NRE FD account:

ID proof: Passport
Address proof (India & overseas)
Proof of Tax
Proof of NRI, foreign national, foreign national student, PIO or OCI status
Passport-size photograph
Overseas work/residence proof (visa/permit)
Copy of PAN
Copy of Aadhar (In case the customer avails)
FATCA Form with Tax Identification Number
Any other document required by the bank.
Mandate Form if required

Conclusion

The Bank of Maharashtra NRE FD rates ensure that you get higher interest rates on your deposits, leading to the growth of your funds. Interest earned on NRE FD is exempt from tax deductions . The maturity amount is fully repatriable, which allows for the transfer of the funds back to your home country when needed. Knowing the Bank of Maharashtra NRE FD rates is the first and foremost step in expanding your savings through a reliable investment option.

FAQs

What is the interest rate for NRE FD in Bank of Maharashtra?

The NRE FD interest rates at Bank of Maharashtra range from 6.50% to 7.45%.
Is NRE FD tax-free at Bank of Maharashtra?

Yes, interest earned on NRE FDs is tax-free at the Bank of Maharashtra.
What is the minimum tenor of NRE deposits in the Bank of Maharashtra?

The minimum tenor for NRE deposits is one year at the Bank of Maharashtra.
Can I keep an FD in my NRE account at Bank of Maharashtra?

Yes, you can open an FD in your NRE account at Bank of Maharashtra.

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