Get the latest fixed deposit interest rates of the Bank of Maharashtra. Calculate your returns with the Bank of Maharashtra FD Calculator. Read the complete article to know the usage of Bank of Maharashtra Fixed Deposit Calculator, Interest Rates, and tenure period.
Bank of Maharashtra FD Calculator
The Maharashtra Bank FD Online Calculator helps you to calculate your maturity amount. You can know how much return you get on your money kept in the fixed deposit in Bank of Maharashtra. You will get the details of the principal amount of the compound interests for days, months, quarterly, half-yearly or yearly basis. To know how your FD earns interest by the end of tenure, use the Bank of Maharashtra FD Calculator.
How to Use Maharashtra Bank FD Calculator?
However, to calculate the FD rates, one should have the account in the Mahabank. Then one should make a fixed deposit in the bank. By knowing the Bank of Maharashtra Interest rates on fixed deposit, tenure period for your fixed deposit, you can get the exact amount that you will receive by the end. You can know the latest fixed deposit interest rates in Bank of Maharashtra in the above tabular forms. Calculating the returns on your fixed deposit is also possible with the following formulae.
A = P(1+r/t)nt
Necessities to Use Bank of Maharashtra FD Interest Calculator Online
- Principal amount.
- Interest rate of Bank of Maharashtra in %
- Tenure Period (Months/Years)
- Frequency – Simple Interest/ Compound Interest
Enter these values in the Bank of Maharashtra Fd Calculator and click the calculate button. You will observe the interest you earn on the display screen.
To calculate FD maturity amount online, use Bank of Maharashtra Rate of Interest on FD Calculator
The updated list of Bank of Maharashtra FD rate of interest for regular and senior citizens is in the following tabular form.
Bank of Maharashtra FD Rates of Interest 2017
|Fixed Deposit Rate in Bank of Maharashtra|
Regular FD Interest Rates
|7Days to 45 Days||4.25|
|46Days to 90 Days||5.25|
|91Days to 364 Days||6|
|One year to 3 years||6.25|
|Mahalaxmi Term Deposit for three years||6.25|
|More than three years||6|
Bank of Maharashtra FD Rates for Senior Citizens
|Bank of Maharashtra FD Interest Rates|
FD Rates of Interest
|7Days to 45 Days||4.75|
|46Days to 90 Days||5.75|
|91Days to 364 Days||6.5|
|One year to 3 years||6.75|
|Mahalaxmi Term Deposit for three years||6.75|
|More than three years||6.5|
Maharashtra Bank FD Interest Rates for NROs – Less than Rs.1crore
|Maharashtra Bank Interest Rates|
|Maturity Period||Interest rates|
|7 to 45 Days||4.25|
|46 to 90 Days||5.25|
|91 to 364 Days||6.00|
|1 to 3 years||6.50|
|Three years Mahalaximi||6.25|
|Above three years||6.00|
Bank of Maharashtra Interest Rates for NRE FD Less than one crore
|Bank of Maharashtra NRE FD Rates|
|Maturity Period||FD Rate of Interest|
|Between 1 to 3 years||6.25|
|Mahalaxmi Deposit for three years||6.25|
|More than three years||6.00|
Overview of Bank of Maharashtra Fixed Deposit
A fixed deposit is also known as the Term Deposit. It is the best way of saving your money in the banks. So, most of the people use Fixed Deposit accounts to save their money. Since banks are the most secure places for everyone. You can save the money for any tenure period. And after the completion of the maturity period, you will get an extra amount according to the rate of interest.
The Maharashtra Bank interest rates vary with the tenure period. If you want to open an FD in Bank of Maharashtra, then it is the best way to go. Before investing your money, you need to know the FD rates and maturity period. Then you should select any of the offers and invest your money. However, you can regularly check your returning money with the Bank of Maharashtra FD calculator.
FD Plans of BOM
The Bank of Maharashtra is a major public sector bank in the country. 81.61% of the total shares of the Bank are held by the government of India. By April 2016, it had over 1895 branches and 15 million customers across the country.It has the largest network compared to the other public sector banks in the state of Maharashtra.
Bank of Maharashtra is a part of the Indian banking space with several retail products on offer to clients with fixed deposits. These FD schemes have different tenors to satisfy the investment needs of individuals.
The Bank of Maharashtra fixed deposit is a great way for saving your money over a period of time. If you want to invest money in safe hands and moreover, with good returns, FD is the best way to go. Also checking the Bank of Maharashtra Fixed Deposit Interest Rates is very easy. So, keep reading the article to check your FD rate of interests using the Bank of Maharashtra FD Calculator.
Bank Of Maharashtra Fixed Deposit Schemes
The interest rates on Bank of Maharashtra’s Fixed Deposits are more on long-term deposits. Moreover, the senior citizens who prefer income to liquidity get more Bank of Maharashtra FD Interest Rates. Below are the various schemes and FD Rates in Bank of Maharashtra.
Bank of Maharashtra Short-Term FD Rates of Interest
The minimum tenure period that the bank offers is a 30-day deposit period which gets 4.5% lowest interest rate. This offer gives reasonable returns without reducing liquidity. For a tenor of 60 days to 90 days, the investor gets 6% rate. While a 120-day and 6-month tenure get 6.5% interest. The bank offers a rate of 7% on a 9-month deposit scheme.
Bank of Maharashtra Medium and Long Term Fixed Deposit Rates
- Highest Rate of return at 7.51% on 1 to 3 years tenor.
- A 7.25% interest rate return on four years to 5 years maturity period.
Maharashtra Bank Interest Rates for Senior Citizen FD
Here is the Bank of Maharashtra Senior Citizen Scheme. The Senior citizens who hold an FD tenure of 9 months and above up to 5 years can earn an interest of 0.5% more on existing rates. This is an increase of medium and long term fixed deposits drifting at 8.01%.
Mahabank Fixed Deposit Scheme
- The design of this scheme is under the section 80C of the Income Tac Act.
- HUF or the individuals can create their single account or a joint account.
- The minimum amount of deposition is Rs.100
- The lowest deposit tenure if for five years.
- Users are not allowed to make a premature withdrawal before the maturity period of 5 years.
- Interest rates on the fixed deposit are from 4.50% to 7.51% per annum.
- You can transfer deposits from one branch to the other branch.
- Nomination flexibility is available.
- The rate of interests you obtain is taxed under section 194A or 195 of the Income Tax Act.
- Loan against your deposits is not possible.
Maharashtra Bank FD Rates in Mahalabh Term Deposit Scheme
- This is a fixed tenure deposit scheme for 666 days.
- The rate of interest on FD is 8.02% which is compounded quarterly.
- You can deposit a maximum limit of less than Rs.1crore.
- Additional rate of interests is available for senior citizens.
- Use can make a premature withdrawal in between the tenure period.
Open an FD account in Bank of Maharashtra
You can apply for a Bank of Maharashtra account online or offline too. To apply online, you should visit the official website and download Bank of Maharashtra Term Deposit Opening form from the official website. To know more about the account opening in the Bank of Maharashtra, click the below link. Also, you can apply for a Fd account offline. For this, you have to visit the nearby branch and fill the form. Later submit it along with the necessary documents like address proof, identity proof, photographs, etc.
To Know more details on FD Account Opening, click here