Bank of Maharashtra Makes Interest Rate Revision On Fixed Deposits: Details Inside

Domestic and NRO Term Deposit interest rates have been revised by the public sector lender Bank of Maharashtra. According to the bank's official website, the new rates are effective as of May 8, 2022, and the bank is now offering a regular interest rate of 2.75 per cent to 4.90 per cent on deposits maturing in 7 days to 5 years, with resident Indian senior citizens receiving an additional rate of 0.50 per cent for all maturity slabs of 91 days and above for deposits up to Rs 2 crore.

Bank of Maharashtra Regular FD Rates

The bank is now giving a 2.75 per cent interest rate on domestic deposits of less than Rs 2 crore that mature in 7 to 45 days. The interest rate on term deposits maturing in 46 to 90 days will be 3.25 per cent. On term deposits maturing in 91-119 days and 120-180 days, the Bank of Maharashtra is currently giving a normal rate of 3.50 per cent and 3.75 per cent, respectively. The applicable interest rate on deposits maturing in 181 - 270 days is 4%. The interest rate on fixed deposits due in 271 - 364 days and 1 year will now be 4.25 per cent and 5%, respectively. On term deposits maturing in over 1 year to 5 years the interest provided will be 4.90%.

Duration	Interest rate p.a. in %
7-45 days	2.75
46-90 days	3.25
91-119 days	3.5
120-180 days	3.75
181-270 days	4
271-364 days	4.25
365 days/1 year	5
Over 1 year to 2 years	4.9
Over 2 years to 3 years	4.9
Over 3 years to 5 years	4.9
Above 5 years	4.9
Source: Bank Website. W.e.f. 8th May 2022

Bank of Maharashtra FD Rates For Senior Citizens

On term deposits of less than Rs 2 Cr maturing in 91 days and above, senior citizens will get an additional rate of 0.50% over and above the regular rate.

Duration	Interest rate p.a. in %
7-45 days	2.75
46-90 days	3.25
91-119 days	4
120-180 days	4.25
181-270 days	4.5
271-364 days	4.75
365 days/1 year	5.5
Over 1 year to 2 years	5.4
Over 2 years to 3 years	5.4
Over 3 years to 5 years	5.4
Above 5 years	5.4
Source: Bank Website. W.e.f. 8th May 2022