Product Details
Bank Name
Bank of Maharashtra
Eligibility
The Account can be opened in the name of an individual, minor, joint depositors, firms, corporate, clubs etc.
Interest Rate
6.50 to 6.75% per annum.
Tenure
12 months to 120 months.
Fixed Deposit Type
Monthly Interest
Monthly Interest Deposit Scheme
Tax Benefits
None
Credit Ratings
CRISIL A1+
Interest Payment Frequency
Monthly. Typically for fixed deposits having interest payment at maturity, compound interest is applicable and for fixed deposits having monthly interest payment, simple interest is applicable. Typically fixed deposits having a tenure of one year or less, simple interest is applicable. It is best to consult the bank officials before you book a fixed deposit.
Cummulative/Non-Cummulative
Non Cumulative
Features
Minimum deposit of 1000.
There is no limit on the maximum deposit amount.
Premature closure of the deposit is allowed.
Loan facility is available Upto 90% of the deposit.
Minimum Investment Amount
1,000
Features & Benefits
Pros
Low minimum deposit requirements.
Monthly interest payout.
No limit on the maximum deposit amount.
Cons
The minimum deposit tenure is 12 months.
Pros & Cons
Account Opening Procedure
How to Open?
Internet Banking
Mobile Banking (Mahamobile Plus App)
Branch
Application Procedure
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.
Add a Title
Add paragraph text. Click “Edit Text” to update the font, size and more. To change and reuse text themes, go to Site Styles.