Question 1

What is the current interest rate of RD in Bank of Maharashtra?

Accepted Answer

As of today, November 29, 2024, the current Bank of Maharashtra RD rates range from 4.50% to 6.00%  for general citizens and from 5.00% to 6.50% for senior citizens.

Question 2

How to open rd account in Bank of Maharashtra?

Accepted Answer

Bank of Maharashtra RD account can be opened with a minimum deposit of Rs. 50 with tenure ranging 3 Months to 10 Years. Bank of Maharashtra recurring deposit account can be opened online or by visiting Bank of Maharashtra branches with any ID proof like PAN card, Aadhar card, voter ID, or driving licence etc.

Question 3

How to close rd in Bank of Maharashtra?

Accepted Answer

You can close your RD a/c online through "Close A/c" tab or by visiting the branch, this may cost you a penalty. The current premature closer penalty in Bank of Maharashtra RD is 1% of deposit.

Question 4

How to calculate maturity and interest in Bank of Maharashtra recurring deposit ?

Accepted Answer

The maturity amount in Bank of Maharashtra recurring deposit account can be calculated by using A = P x(1 + R / N) ^ (NT) formula.Where: A: Maturity Amount 
        P: Recurring Deposit Amount 
        N: Number of times the interest is compounded 
        R: annual interest rate 
        T: Tenure 
        Example: 
            If you open recurring deposit account at the Bank of Maharashtra for 5 years and planed to invest INR 50,000.The current Bank of Maharashtra RD interest rate for 5 year is 5.75%.So using the above formula the maturity amount will be - Rs. 34,80,269.

Question 5

What is Bank of Maharashtra RD interest rates for 1 year in 2024 ?

Accepted Answer

The Bank of Maharashtra recurring deposit for 12 months or 1 year is 6.50% for senior citizen and 6.00% for others.

Question 6

What are the limits on the minimum and maximum deposits?

Accepted Answer

The Bank of Maharashtra RD account can be opened with as low as INR Rs. 50 per month. Also, there is no limit on the maximum amount for investment in a Bank of Maharashtra RD.

Question 7

What is the current highest Bank of Maharashtra rd interest rates?

Accepted Answer

The current highest Bank of Maharashtra rd rate is 6.00% p.a. for normal citizen and 6.50% p.a. for senior citizens in India.

Tenure	Normal Citizen RD Rate	Senior Citizen RD Rate
3 Months to 6 Months	4.50%	5.00%
6 Months to 9 Months	4.75%	5.25%
9 Months to 1 Year	5.35%	5.85%
1 Year to 2 Years	6.00%	6.50%
2 Years to 3 Years	6.00%	6.50%
3 Years to 5 Years	5.75%	6.25%
5 Years to 10 Years	5.75%	6.25%

Investment Amount	For 3 years with interest of 5.75%	For 5 years with interest of 5.75%
₹ 50,000	₹ 1,51,435	₹ 2,53,599
₹ 1 lakh	₹ 3,02,870	₹ 5,07,199
₹ 2 lakh	₹ 6,05,741	₹ 10,14,398
₹ 5 lakh	₹ 15,14,352	₹ 25,35,995
₹ 10 lakh	₹ 30,28,704	₹ 50,71,990


Maturity Amount	₹ 3,02,870	₹ 3,02,621
Total Investment Amount	₹ 3,00,000	₹ 3,00,000
Total Interest Gained	₹2,870	₹ 2,621

Bank Name	RD Interest Rates
Punjab National Bank	4.40% to 6.50%
City Union Bank	5.75% to 6.50%
BOI Bank	4.50% to 6.50%
Canara Bank	5.25% to 6.90%
Indian Bank	3.50% to 6.70%
BOB Bank	4.50% to 7.05%
Central Bank of India	4.50% to 6.75%
Karur Vysya Bank	6.00% to 7.00%
Union Bank of India	4.30% to 6.70%
Tamilnad Mercantile Bank	5.75% to 7.00%
Karnataka Bank	5.25% to 7.00%
Dhanlaxmi Bank	6.50% to 6.75%
South Indian Bank	4.50% to 6.50%
Federal Bank	5.00% to 7.30%
Indian Overseas Bank	4.50% to 6.80%
UCO Bank	4.50% to 6.50%
RBL Bank	4.75% to 7.50%
State Bank of India	4.50% to 7.00%
IDBI Bank	4.50% to 6.80%
Axis Bank	4.75% to 7.10%
HDFC Bank	4.50% to 7.10%
ICICI Bank	4.75% to 7.00%
Indusind Bank	4.75% to 7.50%
Kotak Mahindra Bank	4.00% to 7.10%
Yes Bank	5.00% to 7.75%
Bandhan Bank	4.50% to 7.25%
IDFC First Bank	5.00% to 7.50%
Equitas Small Finance Bank	7.25% to 8.20%
Capital Small Finance Bank	4.75% to 7.15%
Ujjivan Small Finance Bank	4.75% to 7.50%
Fincare Small Finance Bank	5.75% to 8.25%
ESAF Small Finance Bank	5.25% to 8.50%
North East Small Finance Bank	4.00% to 7.50%
Suryoday Small Finance Bank	5.00% to 8.50%
Utkarsh Small Finance Bank	6.50% to 8.00%
Jana Small Finance Bank	4.00% to 8.50%
DBS Bank	3.00% to 7.50%
Post Office	6.90% to 7.50%

Bank Of Maharashtra RD Interest Rates