Bank of Maharashtra FD interest rate indicates the percentage at which money deposited in Bank of Maharashtra Fixed Deposit (FD) accounts will grow over e fixed period of time. It is a safe and dependable investment choice for people looking to increase their savings. The Bank of Maharashtra’s FDs have a reputation for reliability and financial know-how, and they provide reasonable interest rates and various duration options to meet a range of consumer needs ranging from regular citizens (age 18-59) to senior ones.
Additionally, there are the latest and most competitive Bank of Maharashtra FD interest rates 2023 for NRIs with a variety of fixed deposit options. The Bank of Maharashtra allows fixed deposits in several currencies such as the US Dollars (USD), British Pounds (GBP), Euros, and Australian Dollars (AUD). The Bank of Maharashtra FD interest rates 2023 for different amounts are discussed in detail in the sections below.
Bank of Maharashtra FD interest rates 2023 < 2 crore
Bank of Maharashtra FD rates for senior citizens, along with FD rates for regular citizens, are given below. These are the Bank of Maharashtra FD interest rates 2023 on Domestic/NRO of less than Rs 2 crore starting from 17th April 2023.
| Tenure | Interest Rates | |
| Regular Citizens | Senior Citizens | |
| 7 days – 30 days | 2.75 | 2.75 |
| 31 days – 45 days | 3.00 | 3.00 |
| 46 days – 90 days | 3.50 | 3.50 |
| 91 days – 119 days | 4.50 | 5.00 |
| 120 days – 180 days | 4.75 | 5.25 |
| 181 days – 270 days | 5.35 | 5.85 |
| 271 days – 364 days | 5.60 | 6.10 |
| 365 days/1 year | 6.35 | 6.85 |
| Above 1 year – 2 years | 6.00 | 6.50 |
| Above 2 years – 3 years | 6.00 | 6.50 |
| Above 3 years – 5 years | 5.75 | 6.25 |
| Above 5 years | 5.75 | 6.25 |
Bank of Maharashtra FD interest rates 2023 >2 crores
The table below provides the Bank of Maharashtra FD interest rates for investments of more than two crores. These are the latest Bank of Maharashtra FD interest rates 2023.
| Tenure | Interest Rates |
| 7 days – 30 days | 2.75 |
| 31 days – 45 days | 3.00 |
| 46 days – 90 days | 3.50 |
| 91 days – 119 days | 4.50 |
| 120 days – 180 days | 4.75 |
| 181 days – 270 days | 5.35 |
| 271 days – 364 days | 5.60 |
| 365 days/1 year | 6.35 |
| Above 1 year – 2 years | 6.00 |
| Above 2 years – 3 years | 6.00 |
| Above 3 years – 5 years | 5.75 |
| Above 5 years | 5.75 |
Bank of Maharashtra FD interest rates 2023 >10 crore
The table below lists the Bank of Maharashtra FD interest rates for investments of more than ten crores. These are the latest Bank of Maharashtra FD interest rates for 2023.
| Tenure | Interest Rates |
| 7 days – 30 days | 2.65 |
| 31 days – 45 days | 2.90 |
| 46 days – 90 days | 3.40 |
| 91 days – 119 days | 4.40 |
| 120 days – 180 days | 4.65 |
| 181 days – 270 days | 4.65 |
| 271 days – 364 days | 4.90 |
| 365 days/1 year | 5.90 |
| Above 1 year – 2 years | 6.00 |
Bank of Maharashtra FD interest rates for NREs
NREs are Non-Resident Externals. It is a rupee-denominated account that NRIs can open. Their foreign exchange profits can be deposited via the NRE account. In the case of Bank of Maharashtra FD interest rates for NREs, both the principal and the interest are totally refundable. There is a facility for nomination. A local person has access to a power of attorney, which enables them to carry out local business, make investments, etc.
| Duration | For amounts less than 10 Cr |
| 365 Days/ 1 year | 6.35 |
| Over 1 year – 399 days | 6.00 |
| 400 Days | 6.75 |
| 401 Days – 2 years | 6.00 |
| Over 2 years – 3 years | 6.00 |
| Over 3 years – 5 years | 5.75 |
| Above 5 years | 5.75 |
How can the Bank of Maharashtra FD calculator be used during your investments?
The Bank of Maharashtra FD calculator is a useful tool for individuals to estimate the potential returns on their fixed deposits. This calculator considers parameters such as the deposit amount, tenure, and applicable interest rates. By inputting these details, customers can accurately calculate the maturity amount they can expect to receive at the end of the FD tenure. You can directly visit their calculator page to access the Bank of Maharashtra FD calculator. Do not forget to check out the latest Bank of Maharashtra FD interest rates 2023.
What are the Steps to Apply for Bank of Maharashtra FD?
Before applying, one should always learn about the latest Bank of Maharashtra FD interest rates 2023. The Bank of Maharashtra FD interest rates are subject to changes, so it is better to be updated beforehand.
1. By using online banking
- Access your Bank of Maharashtra NetBanking account by logging in.
- Select ‘Term Deposit’ from the drop-down menu on the home page.
- Choose the type of deposit plan. Learn about the Bank of Maharashtra FD interest rates.
- Give all necessary information, such as nominee details, payment guidelines, and maturity guidelines.
- After double-checking the data, click “Submit.”
- Your mobile number will receive a confirmation message once the account has been opened, which could take up to 24 hours.
2. Using an app on a smartphone
- After downloading the Bank of Maharashtra app, log in.
- Click on ‘Term Deposit’ after deciding on the kind of deposit account. Learn about the latest Bank of Maharashtra FD interest rates 2023.
- Enter the needed information.
- After double-checking the data, click “Submit.”
Your registered cellphone number will receive a confirmation text once the account has been opened, which could take up to 24 hours.
The minimum deposit amount required to open an FD at the Bank of Maharashtra as of now is Rs.1,000.
Yes, the Bank of Maharashtra offers premature withdrawal facilities for its Fixed Deposit accounts. However, certain conditions and penalties may apply.
Yes, senior citizens are often eligible for special benefits and higher Bank of Maharashtra FD interest rates on their Fixed Deposits. Bank of Maharashtra offers preferential rates to senior citizens as a part of their commitment to providing financial assistance and support to this segment of customers.
Yes, the Bank of Maharashtra provides flexibility in choosing the tenure for your Fixed Deposit. The bank offers various tenure options, allowing customers to select a duration that suits their financial goals and requirements.
Bank of Maharashtra FD interest rates can be of 7.00% for 200 days for regular citizens and 7.50% for senior citizens.
