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Product Details
Bank Name

Bank of Maharashtra

Eligibility

Any individual, firm, corporate, minor, joint depositors or club etc.

Interest Rate

6.50 to 6.75% per annum.

Tenure

12 months to 120 months.

Fixed Deposit Type

Quarterly Interest

Quarterly Interest Deposit Scheme

Quarterly Interest Deposit Scheme

Tax Benefits

None

Credit Ratings

CRISIL A1+

Interest Payment Frequency

Quarterly. 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.

  • Loan facility is available Upto 90% of the deposit.

Minimum Investment Amount

1000

Fees and Charges
Pros
  • Low minimum deposit requirements.

  • Quarterly interest payout.

  • No limit on the maximum deposit amount.

Cons

The minimum deposit tenure is 12 months.

Pros & Cons
Account Opening and Procedure
How to Open?
  • Internet Banking

  • Mobile Banking (Mahamobile Plus App)

  • Branch

Application Procedure

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