o;? Domestic Term deposits - Mahalaxmi Term Deposit o;? Bank of Maharashtra
Interest Rates


Interest Rates on Savings Bank Deposits With effect from 1st October 2017 :
Sr No. Particulars Rate of Interest
1 Saving Deposits Balance upto Rs. 25 Lakhs 3.50% p.a
2 Saving Deposits Balance above Rs. 25 Lakhs 4.00% p.a
Domestic Term deposits FCNR Deposits Advances EMI Chart

Domestic Term Deposits / Bulk Term Deposit / NRO Term Deposits

Interest Rate on Domestic Term Deposits / Bulk term Deposit / NRO Term Deposits
Duration For Amount less than Rs. 2.00 Crore (% per annum w.e.f. 07.04.2019) For Amount Rs.2.00 Crore to Rs.5.00 Crore (% per annum w.e.f. 07.04.2019) For amount greater than Rs.5.00 Crore to Rs.100.00 Crore (% per annum w.e.f. 08.03.2019)
7-45 days 4.25 4.25 4.25
46-90 days 5.25 4.50 4.50
91-364 days 6.00 4.75 4.75
365 Days/ 1 year 6.50 5.25 5.00
Over 1 year to 2 years 6.50 5.00 5.00
Over 2 years to 3 years 6.50 5.00 5.00
Above 3 years 6.25 5.00 5.00
*Mahanidhi/ Mahalabh/ Mahalaxmi are applicable below Rs.2.00 Crore only
** 444 days/Mahanidhi and 666 days/Mahalabh Schemes rates on repricing will be as per rates applicable to one year to less than 3 years bucket
***Bank Term Deposits Scheme, 2006 (5 years Tax Saving Scheme) is applicable upto Rs. 1.5 Lakh only
  • Resident Indian Senior Citizens will be offered an additional rate of 0.50% p.a. only for all maturity slabs of 91 days and above for deposits upto Rs. 2.00 Crore only. The additional interest is not applicable to any type of non-resident deposits.
  • A member or a retired member or the spouse of a deceased member or spouse of a deceased retired member of the Bankbs staff will be offered an additional interest rate of 1.00% only upto an amount of Rs. 2.00 Crore only
  • 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 Interest rates on prematurely withdrawn term deposits with maturity period more than 1 year will be 1% below the applicable rate.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.
  • Branch should take prior approval before accepting bulk term deposit above Rs. 5.00 Crore.
IMPORTANT: Bank of Maharashtra never ask for Bank account details for any purpose through phone call/email/SMS.

Bank appeals to all the customers not to respond to such phone call/email/SMS and not to share their bank account detail with any one for any purpose. Never share your CVV/ PIN No. of Debit/Credit card to anyone.