Bank of Maharashtra Recurring Deposit Interest Rates 2025
The Bank of Maharashtra is a nationalized bank owned by the Ministry of Finance, Government of India. It has the greatest branch network of any nationalized bank in Maharashtra. The bank has varied services and products to offer to the customers, among which a renowned scheme they have the recurring deposit. The Bank of Maharashtra offers recurring deposit schemes for a minimum tenure of six months and amounts as low as Rs.100. The rate of interest offered by Bank of Maharashtra starts at 5% p.a.
Bank of Maharashtra offers the Recurring Deposit (RD) scheme at attractive interest rates with a tenure ranging between six months and 120 months.
Loans can be availed against the balance that is available in the account. Senior citizens are provided with an additional interest rate
Rate of Return Offered by Bank of Maharashtra on RDs
The tables listed below contain the interest rate offered by the Bank of Maharashtra on recurring deposits depending on the tenure:
For Deposits Less Than Rs. 3 crores:
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens |
181 days to 270 days | 5.00% p.a. | 5.50% p.a. |
271 days to less than 12 months | 5.25% p.a. | 5.75% p.a. |
12 months | 6.20% p.a. | 6.70% p.a. |
12 months 1 day to 24 months | 6.20% p.a. | 6.70% p.a. |
24 months 1 day to 36 months | 6.20% p.a. | 6.70% p.a. |
36 months 1 day to 60 months | 6.10% p.a. | 6.60% p.a. |
Above 60 months | 6.10% p.a. | 6.60% p.a. |
Note: The interest rates listed above are as on 8 August 2025 and are subject to change at the discretion of the bank.
For Deposits from Rs. 3 crore to Rs. 10 crore:
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens |
181 days to 270 days | 5.00% p.a. | 5.50% p.a. |
271 days to less than 12 months | 5.25% p.a. | 5.75% p.a. |
12 months | 6.20% p.a. | 6.70% p.a. |
12 months 1 day to 24 months | 6.20% p.a. | 6.70% p.a. |
24 months 1 day to 36 months | 6.20% p.a. | 6.70% p.a. |
36 months 1 day to 60 months | 6.10% p.a. | 6.60% p.a. |
Above 60 months | 6.10% p.a. | 6.60% p.a. |
Note: The interest rates listed above are as on 8 August 2025 and are subject to change at the discretion of the bank.
For Deposits Above Rs. 3 crores to Rs. 10 crores:
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens |
181 days to 270 days | 5.25% p.a. | 5.75% p.a. |
271 days to less than 12 months | 5.50% p.a. | 6.00% p.a. |
12 months | 6.20% p.a. | 6.70% p.a. |
12 months 1 day to 24 months | 6.20% p.a. | 6.70% p.a. |
24 months 1 day to 36 months | 5.50% p.a. | 6.00% p.a. |
36 months 1 day to 60 months | 5.50% p.a. | 6.00% p.a. |
Above 60 months | 5.25% p.a. | 5.75% p.a. |
Note: The interest rates listed above are as on 8 August 2025 and are subject to change at the discretion of the bank.
For Deposits Above Rs. 10 crore to Rs. 100 crore:
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens |
181 days to 270 days | 5.50% p.a. | 6.00% p.a. |
271 days to less than 12 months | 5.75% p.a. | 6.25% p.a. |
12 months | 6.25% p.a. | 6.75% p.a. |
12 months 1 day to 24 months | 6.20% p.a. | 6.70% p.a. |
24 months 1 day to 36 months | 5.50% p.a. | 6.00% p.a. |
36 months 1 day to 60 months | 5.25% p.a. | 5.75% p.a. |
Note: The interest rates listed above are as on 8 August 2025 and are subject to change at the discretion of the bank.
For Deposits Above Rs. 100 crore to Rs. 400 crore:
Tenure | Rate of Interest for General Public | Rate of Interest for Senior Citizens |
181 days to 270 days | 5.50% p.a. | 6.00% p.a. |
271 days to less than 12 months | 5.75% p.a. | 6.25% p.a. |
12 months | 6.25% p.a. | 6.75% p.a. |
12 months 1 day to 24 months | 6.20% p.a. | 6.70% p.a. |
24 months 1 day to 36 months | 5.50% p.a. | 6.00% p.a. |
36 months 1 day to 60 months | 5.25% p.a. | 5.75% p.a. |
Note: The interest rates listed above are as on 8 August 2025 and are subject to change at the discretion of the bank.
Features of Recurring Deposit Scheme in Bank of Maharashtra
The following are the significant features of recurring deposit scheme in Bank of Maharashtra:
- Offers high rate of interest
- Applicable for students, housewives, engineers, doctors, businessmen, and others
- Allows you to deposit minimum amount on a monthly basis instead of investing in a lump sum
- This is a low-risk investment option
- Flexible tenure options that start from few months to several years
- Offers easy and quick liquidity option
Types of RD Schemes in Bank of Maharashtra
Here is the list of various types of RD schemes offered by the Bank of Maharashtra:
- Regular Recurring Deposit (RD)
- Mahasanchay Deposit Plan (MSDP)
Features of Regular Recurring Deposit (RD)
- Minimum monthly instalment: Rs. 100
- Payments can be made via cash, transfer from SBA, or CA account using S.I.
- Loan available up to 90% of the deposit amount
- Account transferability between branches
- Nomination facility available
Features of Mahasanchay Deposit Plan (MSDP)
- Minimum core monthly instalment: Rs. 100
- Maximum core monthly instalment: Rs. 10,000
- Fixed and flexible instalment options
- Tenure ranges from one year to five years
- Loan available up to 90% of the balance
- Premature closure allowed
Eligibility Criteria to Apply for Bank of Maharashtra RD Scheme
The following are the eligibility criteria to apply for Bank of Maharashtra RD scheme:
- Minors
- Any Indian citizen
- Associations and Corporate Bodies
- Clubs
- Partners and Companies
- Firms
How to Open RD Account in Bank of Maharashtra
The following are ways to open an RD account in Bank of Maharashtra:
- Mobile Banking
Here are the steps to open RD account in Bank of Maharashtra through mobile banking service
- Download the mobile banking app of Bank of Maharashtra from Play Store
- Log into the app and open the applications section
- Choose the RD account option
- Apply for it by providing required details, such as monthly deposit amount, tenure, age of depositor, etc.
Once the application is filled in completely the RD account will be opened, and you will have to make the first deposit after which the amount will be deducted automatically every month from your linked bank account.
- Internet Banking
Here are the steps to open RD account in Bank of Maharashtra through mobile banking service
- Visit the official website of the Bank of Maharashtra
- Select RD option under ‘Apply Now’ option
- Enter all the details as mentioned on the page
- Complete the KYC (Know Your Customer) and provide the payment option if you are not an existing Bank of Maharashtra accountholder
- Make the first deposit yourself to activate your RD account
- Offline mode: Visit the nearest branch of Bank of Maharashtra with all the required documents. Submit the documents along with dully filled RD application form, specify the payment option, and make your first deposit offline to activate your RD account.
Documents Required to Apply for Bank of Maharashtra RD
Here is the list of documents that you need to submit to apply for recurring deposit scheme in the Bank of Maharashtra:
- Passport-sized photograph
- Proof of residential address
- Proof of identification
Get the best rates for a Bank of Maharashtra Recurring Deposit 2025
Bank of Maharashtra offers excellent recurring deposit schemes as part of its retail banking portfolio. As one of the leading public sector institutions, Bank of Maharashtra offers three types of recurring deposit schemes. Customers can enjoy multiple benefits on their recurring deposit accounts inclusive of no TDS, nomination facility, loan facility of up to 90% on the RD account and transfer of accounts from one branch to another.
A Bank of Maharashtra recurring deposit can be opened with a minimum monthly installment amount of Rs. 50, for tenures ranging from six to 12 months. The monthly installment amount can be incremented in multiples of Rs. 10 after that. Deposit account holders can make payments via cash or by transferring funds from a savings or current account by setting standing instructions.
Bank of Maharashtra - Short Term Recurring Deposit Interest Rates
Bank of Maharashtra offers a short term recurring deposit with a tenure of one year, for deposit amounts lesser that Rs.3 crore. 5.75% p.a. for general citizens and 6.25% p.a. for senior citizens.
Bank of Maharashtra - Medium and Long Term Recurring Deposit Interest Rates
If a customer wants to go for a recurring deposit scheme with a medium term, he should opt for the recurring deposit plan with a tenure ranging between one year and five years.
The interest rate offered for medium term recurring deposit ranges from 6.75% p.a. to 6.50% p.a. for general citizens while senior citizens are offered 7.25% p.a. to 7.00% p.a. And, the interest rate offered for long term recurring deposit is 6.50% p.a. for general citizens and 7.00% p.a. for senior citizens.
RD Article Pages
- Recurring Deposit Vs. Chit Fund
- Miss to Pay the Recurring Deposit Due
- Difference Between Recurring Deposit and SIP
- Open RD Account through HDFC NetBanking
- RD Account in SBI
- Advantages of Recurring Deposit
- Flexi RD
- SBI Flexi RD Schemes
- Monthly Recurring Deposit
- Indian Bank Recurring Deposit
- Union Bank Recurring Deposit
- UCO Bank Recurring Deposit
FAQs on Bank of Maharashtra RD Interest Rates
- What are the tenures available on a Bank of Maharashtra RD?
Bank of Maharashtra offers tenures ranging from six months to 120 months for recurring deposits.
- What is the minimum deposit amount to open a Bank of Maharashtra RD?
The minimum deposit amount to open a Bank of Maharashtra RD is Rs.100.
- Who can open a recurring deposit with Bank of Maharashtra?
All Indian individuals, companies, and firms are eligible to open a recurring deposit with Bank of Maharashtra.
- Do senior citizens get extra interest benefits on recurring deposits?
Yes, Bank of Maharashtra offers senior citizens an additional interest rate of 0.50% p.a. on recurring deposits.
- Can I add nominees to my recurring deposit?
Yes, Bank of Maharashtra offers a nomination facility for recurring deposits.
- Is it possible to transfer my recurring deposit account from one branch to another?
Yes, you can transfer your recurring deposit account from one branch to another.
- Can I avail a loan against my recurring deposit?
Yes, you can avail a loan up to 90% of the deposit.
- Do I have to pay a penalty for missing out on payment of monthly installments?
Yes, you may incur a minimum penalty amount for not paying monthly instalment or for delayed payment.
- Can I move regular deposits from one branch to another?
Yes, you can transfer your regular deposits from one branch to another by submitting an application form in the current bank branch where you opened the RD account.
- When is the final payment due?
The final payment of your total RD value will be paid one month after your maturity date or the last payment whichever is earlier.
- Can I calculate the Bank of Maharashtra RD maturity using RD calculator?
Yes, you can calculate the Bank of Maharashtra RD maturity amount using RD calculator by providing monthly deposit amount, deposit tenure, and rate of interest.
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