A fixed deposit is a very popular form of investment in our country. It has been around for ages and is considered as a safe and sound investment option. Fixed deposits are reliable and secure investments and they offer better interest rates as compared to conventional saving accounts. The interest rates on FDs are prone to fluctuations and keep with the rate movements in the market.
Bank of Maharashtra Fixed Deposits
The Bank of Maharashtra offers a number of retail products to its customers. This includes FDs as well. While the Bank of Maharashtra FD rates may be affected by market movements, the tenures offered are of varying periods, to help meet the investment needs of the different types of individuals that frequent the banks.
The Bank of Maharashtra FD rates vary, based on the amount collected and the time opted for. A general rule is that the longer period of deposit you choose, the greater will be the Bank of Maharashtra FD rates offered to you. Then again, if the rates are expected to fall in the future, the bank may offer a lower rate for extra significant ownership.
Mostly, the Bank of Maharashtra FD rates lie between 4% and 8% yearly.
Key highlights of the Bank of Maharashtra FD rates:
The interest rates offered on fixed deposits by the Bank of Maharashtra can go as high as 7% yearly.
The interest on savings as paid by the Bank of Maharashtra is compounded quarterly.
You can get your fixed deposit at the Bank of Maharashtra with an amount as low as Rs. 1000 for varying tenures.
The Bank of Maharashtra FD rates for senior citizens of ages above 60 years are greater.
The Bank of Maharashtra FD rates
Tenure | Bank of Maharashtra FD Rates for Regular Deposits | Bank of Maharashtra FD Rates for Senior Citizens |
7 Days – 45 Days | 4.25% | 4.25% |
46 Days – 90 Days | 5.25% | 5.25% |
91 Days – 364 Days | 6.00% | 6.50% |
1 Year | 6.50% | 7.00% |
1 Year and 1 Day – 3 Years | 6.25% | 6.75% |
3 Years and 1 Day – 10 Years | 6.00% | 6.50% |
For more details visit: https://www.policybazaar.com/bank-of-maharashtra-fd-rates/
