Madhyanchal Gramin Bank FD Rates

Madhyanchal Gramin Bank offers several beneficial services to the rural population of India. It has a range of products to cater to the needs of its customers. Similar to the regular fixed deposit schemes, Madhyanchal Gramin Bank fixed deposit services offer a safe place for potential customers to invest and save their hard-earned money.

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Compare FD Interest Rates of Top Financial Institutions
BANKS GENERAL CITIZENS SENIOR CITIZEN
Axis Bank FD Rates 2.50% - 5.75% 2.50% - 6.50%
Bandhan Bank FD Rates 3.00% - 5.00% 3.75% - 5.75%
Bank of Baroda FD Rates 2.80% - 5.25% 3.30% - 6.25%
Bank of India FD Rates 2.85% - 5.05% 3.35% - 5.55%
Canara Bank FD Rates 2.90% - 5.40% 2.90% - 5.90%
Central Bank of India FD Rates 2.75% - 5.00% 2.90% - 3.25%
DBS Bank FD Rates 2.50% - 5.50% 3.50% - 6.00%
HDFC Bank FD Rates 2.50% - 5.60% 3.00% - 6.35%
IDFC Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Indian Bank FD Rates 2.90% - 5.15% 3.40% - 5.65%
Indian Overseas Bank FD Rates 3.40% - 5.20% 3.90% - 5.70%
IndusInd Bank FD Rates 2.50% - 6.00% 3.00% - 6.50%
Punjab National Bank FD Rates 2.90% - 5.25% 3.50% - 5.75%
SBI FD Rates 5.30% - 5.40% 5.80% - 6.20%
UCO Bank FD Rates 2.55% - 5.05% 3.80% - 6.30%
Yes Bank FD Rates 3.25% - 6.25% 3.75% - 7.25%
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Madhyanchal Gramin Bank allows its customers to deposit a sum of money and select a period, often referred to as the deposit tenure. The deposited amount of money then starts to accumulate regular interest. The salient features of such account and interest are explored in the below segments.

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Madhyanchal Gramin Bank FD Rates 2021

The following tabular segment showcases the Madhyanchal Gramin Bank’s FD rates (according to the official website of the institution):

(Refer to the bank's circular number scheme /2019.20/12 dated 25.02.2020 under the same subject. The rate of interest on domestic fixed amount deposits was changed by the State Bank of India on 12.05.2020. Accordingly, the following are the approved interest rates in the bank.)

Deposit Tenure Effective rates for general citizens  Effective rates for senior citizens
Current Rate Revised Rate Current Rate Revised Rate
Seven to Forty-five days 4.50 3.30 5.00 3.80
Forty-six days to One hundred and seventy-nine days 5.00 4.30 5.50 4.80
One hundred and eighty days to Two hundred and ten days 5.50 4.80 6.00 5.30
Two hundred and eleven days to lower than one year 5.50 4.80 6.00 5.30
Over one year but lower than two years 6.00 5.50 6.50 6.00
Over two but lower than three years 6.00 5.50 6.50 6.00
Over three but lower than five years 6.00 5.70 6.50 6.20
Over five years and up to ten years 6.00 5.70 6.50 6.20

*Fixed Deposit Interest rates are subject to change.

Notes from Madhyanchal Gramin Bank:

The rate of interest under the Tax Saving Scheme will be according to the rate of interest given in the above table for the same period.

Interest at an additional rate of 1.00% p.a. will be paid to the general public on the new/renewed fixed amount deposits received. Staff rate 1.00% along with senior citizen rate 0.50% benefit will also be given on deposits.

Features of Madhyanchal Gramin Bank Fixed Deposit

Some of the features of Madhyanchal Gramin Bank fixed deposit are:

  • The deposit tenure for an account under the concept of fixed amount deposits in the Madhyanchal Gramin Bank can last from seven days to ten years.
  • Senior citizens also have depositing facilities.
  • There is no maximal limit on the amount of sum to be banked.
  • The accounts are eligible for tax benefits.
  • NRE, NRO, and FCNR accounts are also available for the customers.
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About Madhyanchal Gramin Bank Fixed Deposit Interest Rate Calculator

Madhyanchal Gramin Bank Fixed Deposit calculator is an easy-to-use, hassle-free tool that helps in quick calculation of the maturity amount and the interest earned receivable at the end of the policy tenure. By entering some basic details, you can calculate the correct FD amount. Here are the steps that an investor needs to follow to calculate Fixed Deposit rates on the FD Calculator:

  • The amount that is invested

  • The Rate of Interest offered

  • The tenure of the Fixed Deposit Account

  • The compounding period, that is, yearly, half-yearly, quarterly, or monthly

  • The FD Amount

Once entered the following details, an investor will come to know:

  • The maturity value of the FD

  • The total interest earned during the complete tenure

Madhyanchal Gramin Bank Fixed Deposit Rates: Things to Know!

Some of the things to know about Madhyanchal Gramin Bank fixed deposit are:

  • The Madhyanchal Gramin Bank FD interest rates can range from 4.50% to 6% for regular customers and 5% to 6.50% for senior citizen customers.
  • The rate of interest is dependent on the deposited amount and tenure selected by the customer.
  • A loan facility against the amount deposited is available, provided the bank is satisfied with the necessary terms.
  • In case of premature withdrawal, the effective rate of interest will be 1.00% less than the interest rate fixed for the period the amount has been deposited with the bank.

Summing it Up

The customer is advised to confirm the terms and conditions with the bank before finalizing as interest rates are subject to change. The Madhyanchal Gramin Bank FD rates are reasonable and reliable. The bank also offers its services via online mode, i.e., customers can open an FD account from the comfort of their homes.

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