A fixed Deposit (FD) is a financial instrument provided by the banks which gives investors a high rate of interest in return unlike a regular saving account, as per the chosen maturity period.
If you want to maximize your savings and ensure a safe return of your money, you don’t have to think further. Just open an FD account in Bank of Maharashtra which is offering different kinds of Fixed Deposit Schemes.
| Maturity Period | Interest rate (%p.a) For amount less than ₹2 crore | Interest rate (%p.a) For amount ₹1 crore to ₹2 crores |
|---|---|---|
| 7-45 days | 4.25 | 4.25 |
| 46-90 days | 5.25 | 4.50 |
| 91-180 days | 5.50 | 4.75 |
| 181-364 days | 5.75 | 4.75 |
| 1 year | 6.00 | 5.25 |
| 1 year to 2 years | 6.00 | 5.00 |
| Over 2 years to 3 years | 5.75 | 5.00 |
| Over 3 years to 5 years | 5.50 | 5.00 |
| Above 5 years | 5.50 | 5.00 |
| Proof of Identity (anyone) | Proof of Address (anyone) |
|---|---|
| Passport | Passport |
| Pan Card | Telephone Bill |
| Voter ID card | Electricity Bill |
| Driving License | Bank Statement with cheque |
| Senior Citizen ID Card | Certificate ID Card issued by Post Office. |
| Aadhar Card | Ration Card |
Cumulative Deposit Scheme(CDR)
Under a bank account of cumulative deposit scheme, a depositor is required to deposit multiples of Rs 100/- in the account every month. This deposit is usually available for the tenure range of 1year to 5 years. By offering high-interest rates, banks inculcate the habit of saving among people. Mahabank’s Cumulative Deposit Scheme gives high-interest rate as this deposit earns an interest on quarterly compounded basis.
Any individual, singly or jointly or a firm, corporate, club etc.can avail the benefits of this scheme.
| Amount of Deposit | Rate of Interest | Period of Deposit | Nomination | Benefits |
|---|---|---|---|---|
| Minimum amount of deposit is ₹100/- and in multiples thereof | Floating | 6 months to 10 years | Available | -Loan facility is available up to 90% of the deposit plus accrued interest thereon. |
| -Annual yield and date of maturity to be informed to the depositor. | ||||
| -Auto renewal instructions be obtained |
| Proof of Identity (anyone) | Proof of Address (anyone) |
|---|---|
| Passport | Passport |
| Pan Card | Telephone Bill |
| Voter ID card | Electricity Bill |
| Driving License | Bank Statement with cheque |
| Senior Citizen ID Card | Certificate ID Card issued by Post Office. |
| Aadhar Card | Ration Card |
Bank of Maharashtra Branches: As the Government of India holds 81.61% of the total shares, Bank of Maharashtra has 15 million customers across the country served through 1895 branches as of 5 April 2016. It has the largest network of branches in any public sector bank in the state of Maharashtra. So, the customers can visit the branches nearby and fill the application form to open the FD accounts. The customers can also apply online. Bank of Maharashtra provides its customers with the best internet banking facilities so that its loyal customers can easily avail the given facilities.Use your Bank of Maharashtra internet banking account to shop online and make online bill payments. You can visit the website and open the fixed deposit account online by filling the application form.
The customers can connect with the Bank of Maharashtra executives for any query. The toll-free number to dial is 1800-233-4526 / 1800-102-2636.
