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Bank of Maharashtra

Fixed Deposit Rates

You are requested to reconfirm the rates from the respective banks before making any financial commitments.

a) For domestic deposits - Less than Rs. 1 cr (last revised on Jan 16, 2017)

Maturity Period Deposit Amount

INTEREST RATE (% p.a.)

General

Senior Citizen

 
7 days to 45 days Less than Rs. 1 cr

4.25

4.25

Calculate
46 days to 90 days Less than Rs. 1 cr

5.25

5.25

Calculate
91 days to 364 days Less than Rs. 1 cr

6.00

6.50

Calculate
365 Days Less than Rs. 1 cr

6.50

7.00

Calculate
1 year to less than 3 years Less than Rs. 1 cr

6.25

6.75

Calculate
3 years Mahalaximi Less than Rs. 1 cr

6.25

6.75

Calculate
Over 3 years Less than Rs. 1 cr

6.00

6.50

Calculate

Tax Saver Fixed Deposits (Amount capped at Rs. 1 lakh per Financial Year)

Maturity Period Deposit Amount

INTEREST RATE (% p.a.)

General

Senior Citizen

 
Mahabank Tax Saving Scheme - 5 Years Upto Rs. 1 lakh

6.00

6.50

Calculate

Tax Implications:

  • The amount invested in fixed deposits with a maturity period of 5 years in a Scheduled bank is eligible for tax deduction under section 80C. However, the interest earned on the deposit is taxable.
  • Tax will be deducted at the source, if the interest income on a fixed deposit per annum exceeds Rs.10000

a) For NRO Fixed Deposit - Less than Rs. 1 cr (last revised on Jan 16, 2017)

Maturity Period Deposit Amount INTEREST RATE (% p.a.)  
7 days to 45 days Less than Rs. 1 cr 4.25 Calculate
46 days to 90 days Less than Rs. 1 cr 5.25 Calculate
91 days to 364 days Less than Rs. 1 cr 6.00 Calculate
1 year to less than 3 years Less than Rs. 1 cr 6.25 Calculate
365 Days Less than Rs. 1 cr 6.50 Calculate
3 years Mahalaximi Less than Rs. 1 cr 6.25 Calculate
Over 3 years Less than Rs. 1 cr 6.00 Calculate

a) For NRE Fixed Deposit - Less than Rs. 1 cr (last revised on Jan 16, 2017)

Maturity Period Deposit Amount INTEREST RATE (% p.a.)
1 year to less than 3 years Less than Rs. 1 cr 6.25 Calculate
3 years Mahalaximi Less than Rs. 1 cr 6.25 Calculate
Over 3 years Less than Rs. 1 cr 6.00 Calculate
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