Bank of Maharashtra hikes interest rates on retail fixed deposits by up to 85 bps

Bank Of Maharashtra FD Rates

Feather Fixed deposit Maturing in 7 days to 30 days, the bank will continue to offer an interest rate of 2.75% and Bank of Maharashtra will continue to offer an interest rate of 3% on fixed deposits maturing in 31 to 45 days. Deposits maturing in 46 to 90 days will continue to offer an interest rate of 3.50%, but deposits maturing in 91 to 119 days will now offer an interest rate of 4.50% from 3.75% earlier, an increase of 75 bps . Bank of Maharashtra increased the hike fixed deposit interest rates 85 bps from 3.90% to 4.75% on deposits maturing in 120 to 180 days.

The bank has increased the interest rates from 4.25% to 5% on deposits maturing in 181 to 270 days, but on deposits maturing in 271 to 299 days, the bank will continue to offer an interest rate of 5% . On deposits maturing in 300 days, Bank of Maharashtra will now offer an interest rate of 5.25% and on deposits maturing in 301 to 364 days, the bank will offer an interest rate of 5%. Deposits maturing in 1 year to 399 days will now be offered an interest rate of 5.60% which was earlier 5.40% which was an increase of 20 bps and deposits maturing in 400 days (Maha Dhanvarsha) will now be offered an interest rate of 5.70% The rate will be offered which is 5.50% earlier than an increase of 20 bps.

Bank of Maharashtra has increased interest rates by 20 basis points on deposits maturing in 401 days to 2 years, from 5.40% to 5.60% and on deposits maturing in 2 years to 5 years by 10 basis points is of.

Resident Indian Senior Citizens will be provided an additional rate of 0.50% p.a. on the maximum deposit amount exclusively for maturity period of 91 days and above. 2 crores. Non-resident deposits are not eligible for the additional interest rate benefit of Bank of Maharashtra.