Interest for 3 years
|Tenure||Normal Citizen FD Rate||Senior Citizen FD Rate|
|7 days - 30 days||2.75%||2.75%|
|1 month - 1 month 14 days||3%||3%|
|1 month 15 days - 2 months 29 days||3.5%||3.5%|
|2 months 30 days - 3 months 27 days||4.5%||5%|
|3 months 28 days - 5 months 27 days||4.75%||5.25%|
|5 months 28 days - 6 months 15 days||5.25%||5.75%|
|6 months 16 days - 6 months 16 days||7%||7.5%|
|6 months 17 days - 8 months 25 days||5.25%||5.75%|
|8 months 26 days - 11 months 28 days||5.5%||6%|
|11 months 29 days - 11 months 29 days||6.25%||6.75%|
|1 year - 1 year 1 month 2 days||6%||6.5%|
|1 year 1 month 3 days - 1 year 1 month 3 days||6.75%||7.25%|
|1 year 1 month 4 days - 2 years 11 months 29 days||6%||6.5%|
|3 years - 9 years 11 months 27 days||5.75%||6.25%|
Note: All interest rates shown above are as on 2nd Mar 2023
Bank of Maharashtra is a major Indian government owned bank under the ownership of Ministry of Finance, Government of India. The bank had 15 million customers across the country with 1,900 branches as of 25 March 2021. It has the largest network of branches of any public sector bank in the state of Maharashtra. The bank has a balance sheet size of Rs. 1.69 lakh Crs as on 31st March 2020. The bank recorded a profit of Rs 399 Crs in FY20
2.75% - 7%
2.75% - 7.5%
FD Rate for Seniors
₹ 2 Crores
Loan against FD
|Investment Amount||For 3 years with interest of 6%||For 5 years with interest of 5.75%|
|₹ 50,000||₹ 59,834||₹ 66,609|
|₹ 1 lakh||₹ 119,668||₹ 133,218|
|₹ 2 lakh||₹ 239,336||₹ 266,435|
|₹ 5 lakh||₹ 598,340||₹ 666,088|
|₹ 10 lakh||₹ 1,196,681||₹ 1,332,176|
Use FD calculator to change values and compare your returns from top banks.
|Maturity Amount||₹ 106,432||₹ 107,496|
|Total Investment Amount||₹ 100,000||₹ 100,000|
|Total Interest Gained||₹6,432||₹ 7,496|
|Bank Name||FD Interest Rates|
|Suryoday Small Finance Bank FD||7.25% - 7.75%|
|Karur Vysya Bank FD||7% - 7.4%|
|Utkal Grameen Bank FD||6.25% - 6.75%|
|Karnataka Bank FD||5.75% - 6.15%|
|State Bank of India FD||6.5% - 7%|
|Bank of India FD||6.5% - 7.25%|
|South Indian Bank FD||6.5% - 7%|
|Tamil Nadu Grama Bank FD||6.9% - 7.4%|
|ESAF Small Finance Bank FD||5.75% - 6.25%|
|Bangiya Gramin Vikash Bank FD||6.25% - 6.75%|
The flexible & tax efficient alternative to FDs.
Bank of Maharashtra is the first commercial bank established in 1840 in Maharashtra. Formerly known as the Bank of Bombay, it has achieved several banking milestones. Bank of Maharashtra offers multiple fixed deposits for various tenures with different interest rates to its investors. The interest rate on Bank of Maharashtra FDs is higher than their savings account. One can invest in Bank of Maharashtra FDs with just a minimum investment of INR 1,000. This article covers Bank of Maharashtra FD, its features and interest rates in detail.
Following are the fixed deposit scheme by the Bank of Maharashtra:
Maha Saraswati Scheme is a monthly deposit scheme. Following are the features of the scheme:
The monthly interest deposit scheme offers monthly income to its depositors. This is just like an additional income to regular earnings. Following are the features of the scheme:
The quarterly interest deposit scheme is suitable for planning tax liabilities or investments. The scheme pays quarterly interest on the deposit amount. Following are the features of the scheme:
The tax savings term deposit is a scheme that offers the depositors the benefit of tax savings and investment. The deposits to this scheme qualify for tax exemption under Section 80C of the Income Tax Act. Following are the features of the scheme:
One can open a Bank of Maharashtra FD account through various modes such as Internet Banking, Mobile App and offline.
The following steps will help an individual to open a Bank of Maharashtra FD account through internet banking:
The following steps will guide in opening an FD account through the Bank of Maharashtra Mobile App:
To open a Bank of Maharashtra FD account offline, one has to visit the nearest Bank of Maharashtra branch. Fill the Bank of Maharashtra FD application form and submit all the necessary documents along with the deposit amount. On successfully processing the application, the Bank of Maharashtra will provide an FD receipt.
To open a Bank of Maharashtra fixed deposit account, one needs the following documents.
To open an FD account with the Bank of Maharashtra, one needs to be eligible. Following are the eligible persons and entities.
Only investment in Bank of Maharashtra Tax Saving FDs qualifies for tax saving up to INR 1,50,000 per annum. Investment in no other Bank of Maharashtra FDs qualifies for tax saving under Section 80C of the Income Tax Act. The interest income from the Bank of Maharashtra FD is taxable as per the investor’s income tax slab rates. Moreover, the interest income is subject to a TDS of 10% if the income from the Bank of Maharashtra FD exceeds INR 40,000 per annum. For senior citizens, the limit is INR 50,000 per annum. Also, if the investor doesn’t disclose PAN Card details to the Bank of Maharashtra, then the TDS rate will be 20%.
What is the highest Bank of Maharashtra FD rate today?
What is the highest interest rate on Bank of Maharashtra 1 year FD scheme?
What is Bank of Maharashtra FD scheme interest rate for 5 years?
How many years FD will double in Bank of Maharashtra?
What is Bank of Maharashtra FD minimum deposit amount?
What is senior citizen fixed deposit interest rates in Bank of Maharashtra?
What are the available FD tenures in Bank of Maharashtra?
What is Bank of Maharashtra FD ROI for 10 lakh deposit for 1 year?
The interest from the Bank of Maharashtra FD calculator for 10 lakh deposit for 1 year will be INR 72,290. The maturity value will be INR 1,072,290. You can use Scripbox’s FD Calculator to determine the maturity value of your investment.
How to check the fixed deposit balance in Bank of Maharashtra?
How many FDs can be opened in Bank of Maharashtra?