Bank of Maharashtra Revises FD Rates: Earn Up to 6.50%, 5.25% Return Offered on 119-Day Tenure

In a recent move aimed at realigning returns for short- and medium-term investors, the Bank of Maharashtra has revised its fixed deposit (FD) interest rates. While some tenures have seen a reduction, the public sector lender is still offering competitive rates, with returns reaching up to 6.50% for general customers and 7% for senior citizens.

Latest FD Rates Now in Effect

The updated FD interest rates apply to deposits below ₹3 crore and are effective for both fresh and renewed accounts. Following this revision, interest rates range from 2.75% to 6.50%, depending on the investment tenure. The revised structure maintains a special benefit for senior citizens, who continue to receive an additional 0.50% interest on all fixed deposit options.

Up to 5.25% on 119-Day Deposit

Among the short-term investment options, the 119-day FD now offers a return of 5.25%, a notable opportunity for customers looking for moderate gains without a long lock-in period. For comparison, the interest on a 90-day deposit stands at 4.45%, while 91–119-day deposits earn 4.75%.

Top-Yielding FD Tenures

The highest returns of 6.50% are available on three specific tenures:

• 365 days (1 year)

• Above 1 year and up to 2 years

• Above 2 years and up to 3 years

For senior citizens, these same tenures offer 7% interest, positioning them as the most attractive investment durations for older investors.

The next best option is the FD of 3 to 5 years, with 6.25% for general citizens and 6.75% for senior citizens. Deposits beyond 5 years offer slightly lower returns, with 6.10% for regular customers and 6.60% for seniors.

Full Interest Rate Breakdown by Tenure

Here’s a detailed look at the revised interest rates based on tenure for regular customers:

• 7 to 30 days: 2.75%

• 31 to 45 days: 3%

• 46 to 90 days: 4.45%

• 91 to 119 days: 4.75%

• 120 to 180 days: 5%

• 181 to 270 days: 5.25%

• 271 to 364 days: 5.50%

• 365 days / 1 year: 6.50%

• Above 1 year to 2 years: 6.50%

• Above 2 years to 3 years: 6.50%

• Above 3 years to 5 years: 6.25%

• Above 5 years: 6.10%

Expert Advice: Check Before You Invest

As interest rates are subject to periodic revision, financial experts advise potential depositors to verify the latest rates before locking in funds. With inflation and monetary policy fluctuations impacting returns, choosing the right tenure is key to maximizing gains.

For those seeking safe returns in the short- to mid-term range, the Bank of Maharashtra’s revised FD offerings provide a balanced option, especially for senior citizens who benefit from the highest available rates in the public banking sector.