Bank of Maharashtra Term Deposit Interest Rate

Bank of Maharashtra Term Deposit Interest Rate

Domestic Term Deposits/ NRO Term Deposits
(Effective 26.08.2013)

Duration

For amount less than Rs. 1.00 crore

Amount Rs. 1.00 crore to Rs. 5.00 crores

Above Rs. 5.00 crore

Normal (% p.a.)

Annualized Yield (% p.a.)

Senior Citizen
(% p.a.)

Annualized Yield (% p.a.)

Normal
(% p.a.)

Annualized Yield (% p.a.)

Normal
(% p.a.)

Annualized Yield (% p.a.)

7 to 14 Days

6.50

6.50

6.50

6.50

6.50

6.50

7.00

7.00

15 to 30 Days

6.50

6.50

6.50

6.50

6.50

6.50

7.50

7.50

31 to 45 days

6.50

6.50

6.50

6.50

7.50

7.50

7.50

7.50

46 to 90 days

7.50

7.50

7.50

7.50

7.50

7.50

7.50

7.50

91 days to 180 days

8.50

8.59

9.00

9.10

8.50

8.59

8.50

8.59

181 days to 363

8.60

8.88

9.10

9.42

8.60

8.88

8.60

8.88

364 days

8.60

8.88

9.10

9.42

9.10

9.42

9.10

9.42

365 days/ One year

9.10

9.42

9.60

9.95

9.10

9.42

9.10

9.42

Mahanidhi (444 Days)

9.25

9.58

9.75

10.24

Above 1 year to less than 3 years (except 444 days)

9.10

10.33

9.60

10.97

9.10

9.52

9.10

9.52

3 years Mahalaximi

9.15

10.39

9.65

11.04

9.10

10.33

9.10

10.33

Over 3 years to 10 years

9.00

14.35

9.50

15.57

8.75

13.76

8.75

13.76

  • For Deposits above Rs.5 crore, please contact your nearest Branch/Zonal Office.
  • The rate of interest on Bank Term Deposits Scheme, 2006 (Tax Saving Scheme for 5 year term deposit) up to investments ofRs. 1.00 Lakh only will be 9.00%.
  • In case of premature withdrawal of deposits, interest is payable at the rate applicable to the period for which deposit has been actually held with the Bank.
  • On premature withdrawal of term deposits, for deposits up to 1 year maturity (tenor at the time of opening the account) there will NO PENALTY on the applicable interest rate. Interest rates on prematurely withdrawn term deposits with maturity period more than 1 year will be 1% below the applicable rate.
  • Deposits to be accepted for a maximum period of 10 years.
  • All rates are subject to change from time to time.
“Maha Double” Deposit Scheme
(Effective 04.05.2013)• Under “Maha Double” Deposit Scheme, deposits will be doubled in 92 months for depositors other than senior citizens. For senior citizens, under the scheme deposits will be doubled in 87 months.
  Category

  Duration

For amount less than Rs. 1.00 crore

Normal (% p.a.)

Annualized Yield (% p.a.)

For General Public

92

9.15

13.00

For senior Citizens

87

9.68

13.80

NRE Deposits
(Effective from 14.10.2013)
Duration

For amount less than Rs. 1.00 crore

For amount of Rs. 1.00 crore 
& above

Normal 
(% p.a.)

Annualized Yield 
(% p.a.)

Normal
(% p.a.)

Annualized Yield 
(% p.a.)

365 days / One year

9.10

9.31

9.10

9.42

 Over 1 year to less than 3 years 
(except 444 days)

9.10

10.33

9.10

9.52

444 days (Mahanidhi)

9.10

9.52

3 years( Mahalaxmi term Deposit)

9.15

10.39

9.10

10.33

Over 3 years to 10 years

9.00

14.35

8.75

13.76

No interest is payable if the deposit is prematurely closed before the minimum period of one year.
Above one year premature payment attracts penalty o f 1%.
No additional interest to senior citizens is allowed.
The interest rate for NRE Savings Deposits is 4.0 %.
All rates are subject to change from time to time.
FCNR Deposits
Interest Rates on fresh FCNR(B) Deposits for the month of October 2013  shall be as under
Period

Rates for USD

Rates for GBP

Rates for EURO

Rates for AUD

Rates for CAD

12-15-18-21 months

2.63

2.87

2.47

4.52

3.49

24-27-30-33 months

2.48

2.83

2.57

4.79

3.47

36-39-42-45 months

4.77

5.12

4.77

7.08

5.73

48-51-54-57 months

5.16

5.44

5.00

7.39

6.01

60 months

5.53

5.71

5.24

7.61

6.24

Please note that any Single FCNR(B) deposit in EUR, AUD, CAD will be for a minimum amount of 5000/- in the respective currencies and in GBP for a minimum of GBP 2000/- Branches should seek prior approval from Treasury & International Banking Division, Mumbai before accepting fresh FCNR(B) deposits denominated in GBP, EUR, AUD and CAD for a period of 2 years and above and before accepting any deposit in AUD and CAD.Deposits are to be accepted for a minimum period of 12 months and thereafter in multiples of quarters only.
Interest Rates on USD RFC deposits w.e.f. 1st October 2013 upto 31st October 2013 shall be as under

12-15-18-21 months

24-27-30-33 months

36-39-42-45 months

48-51-54-57 months

60 months

2.63

2.48

4.77

5.16

5.53

 

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