Are you a senior citizen looking to secure your financial future? Look no further than the Bank of Maharashtra Senior Citizen Scheme. In this blog post, we will explore the lucrative Fixed Deposit Rates for 2024, with a special focus on the Senior Citizen Scheme, providing you with a comprehensive understanding of the attractive interest rates and exclusive benefits offered by the bank.
Bank of Maharashtra Fixed Deposit Rates 2024
Let’s dive into the Fixed Deposit Interest Rates on Domestic/NRO deposits of less than Rs 2 crore, effective from 14th November 2023.
| Tenure | Regular Citizens (% p.a.) | Senior Citizens (% p.a.) |
|---|---|---|
| 7 days to 30 days | 2.75 | 2.75 |
| 31 days to 45 days | 3.00 | 3.00 |
| 46 days to 90 days | 4.75 | 5.25 |
| 91 days to 119 days | 4.90 | 5.40 |
| 120 days to 180 days | 5.10 | 5.60 |
| 181 days to 270 days | 5.50 | 6.00 |
| 271 days to 364 days | 5.60 | 6.10 |
| 365 days/1 year | 6.50 | 7.00 |
| Above 1 year to 2 years | 6.25 | 6.75 |
| Above 2 years to 3 years | 6.25 | 6.75 |
| Above 3 years to 5 years | 6.00 | 6.50 |
| Above 5 years | 6.00 | 6.50 |
Note: Additional senior citizens’ interest rates (0.50% p.a.) are not applicable to non-resident deposits.
Make Informed Investment Decisions with the FD Calculator
Curious about the maturity value of your Fixed Deposit investments? Utilize our FD calculator to gain insights and make informed decisions about your financial future.
Exclusive Offer: Earn 6.5% p.a. on Your FD & Get a Lifetime Free Step Up Credit Card
Embark on a journey of financial growth with our exclusive offer. Earn a competitive interest rate of 6.5% p.a. on your Fixed Deposit and enjoy the perks of a lifetime free Step Up Credit Card. The card limit is an impressive 100% of your FD amount, providing you with unparalleled financial flexibility.
Additional Benefits:
- Instant Virtual Card for immediate use.
Ready to seize this opportunity? Apply now and experience the benefits of financial planning with Bank of Maharashtra.
Special Fixed Deposit Schemes
In addition to the standard Fixed Deposit Rates, Bank of Maharashtra offers special schemes to cater to diverse financial needs.
| Tenure | Regular Citizens (% p.a.) | Senior Citizens (% p.a.) |
|---|---|---|
| 200 days | 7.00 | 7.50 |
| 400 days | 6.75 | 7.25 |
Note: This special FD interest rate is available for deposits up to Rs 10 crore only. Senior citizen special FD rates are applicable for deposits up to Rs 2 crore only.
Tax Planning Made Easy: Bank of Maharashtra Tax Saver Deposit
For those seeking tax benefits, the Bank of Maharashtra Tax Saver Deposit is the ideal choice. Explore the following interest rates for a tenure of 5 years:
| Tenure | Regular Citizens (% p.a.) | Senior Citizens (% p.a.) |
|---|---|---|
| 5 years | 6.00 | 6.50 |
Unlock the potential for tax savings while securing your financial future with this exclusive scheme.
In conclusion, the Bank of Maharashtra Senior Citizen Scheme and Fixed Deposit Rates for 2024 offer a winning combination of attractive interest rates and exclusive benefits. Whether you are a senior citizen or a regular investor, our diverse range of Fixed Deposit options caters to all your financial needs. Seize the opportunity for financial growth – apply now and embark on a journey of secure and prosperous investing with Bank of Maharashtra.
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FAQ Bank of Maharashtra Senior Citizen Scheme
1. What are the Fixed Deposit rates for senior citizens at Bank of Maharashtra in 2024?
- For senior citizens, the Fixed Deposit rates range from 2.75% to 7.00% per annum, depending on the tenure.
2. Are there any additional benefits for senior citizens on Fixed Deposits?
- Yes, senior citizens receive an additional interest rate of 0.50% per annum on their deposits.
3. Is the FD Calculator offered by Bank of Maharashtra useful?
- Absolutely! The FD calculator helps you estimate the maturity value of your Fixed Deposit, aiding in informed investment decisions.
4. What is the exclusive offer for FD holders at Bank of Maharashtra?
- FD holders can earn a competitive interest rate of 6.5% per annum and enjoy a lifetime free Step Up Credit Card with a limit of 100% of the FD amount.
5. Can I apply for the exclusive offer online?
- Yes, you can apply online and experience the benefits of financial planning with Bank of Maharashtra.
6. Does Bank of Maharashtra offer any special Fixed Deposit schemes?
- Yes, apart from standard FD rates, the bank provides special schemes, including a 7.00% to 7.50% interest rate for tenures like 200 days and 400 days.
7. What is the maximum deposit limit for the special FD interest rate?
- The special FD interest rate is applicable for deposits up to Rs 10 crore.
8. Are there tax-saving options available with Bank of Maharashtra?
- Yes, the Tax Saver Deposit offers tax benefits, with interest rates for a tenure of 5 years ranging from 6.00% to 6.50%.
9. Can I get an instant virtual card with the exclusive FD offer?
- Yes, the offer includes an instant virtual card for immediate use.
10. Why choose Bank of Maharashtra for Fixed Deposit investments in 2024?
- The bank offers an attractive combination of competitive interest rates, exclusive benefits, and diverse FD options, making it an ideal choice for both senior citizens and regular investors. Apply now for secure and prosperous investing.