There was a time when due to non-availability of good returns on FDs, people had lost a little interest in this direction. But for some time, banks have increased the interest rate on Fixed Deposits strongly.
After which the customers are once again showing their interest towards this safe investment. Let us tell you that Bank of Maharashtra (BoM) on Tuesday announced an increase in interest rates on fixed deposits of less than Rs 2 crore.
According to the official website of the bank, the new rates are effective till January 16, 2023. After the change, the bank is now offering an interest rate of 2.75% to 5.75% on deposits maturing in the next 7 days to 5 years. The bank is now offering a maximum interest rate of 7 per cent on deposits with a tenure of 200 days.
Bank of Maharashtra FD Rates
The bank will continue to offer an interest rate of 2.75% on deposits maturing for 7 to 30 days, while Bank of Maharashtra (BoM) will continue to offer an interest rate of 3% on deposits maturing for 31 to 45 days. On deposits maturing in 46 to 90 days, Bank of Maharashtra (BoM) is offering an interest rate of 3.50%. While the bank has increased the interest rate on deposits maturing in 91 to 119 days to 4.50%.
Deposits maturing in 120 to 180 days will now fetch 4.75% interest, while those maturing in 181 to 270 days will now fetch 5.25%. The Bank will continue to offer an interest rate of 5.50% on deposits maturing in 271 days to 364 days. Will continue to offer an interest rate of 6.15% on deposits maturing in 365 days to one year.
7% return will be available in less than 1 year
Bank has introduced a new deposit scheme of 200 days. On which it is offering a maximum interest rate of 7% and on 400 days (Maha Dhanvarsha) plan, the bank is now offering an interest rate of 6.75% on deposits up to ₹10 crore.
