Term Deposit Scheme is applicable for individuals or Hindu Joint Families (HUF) for tenures between 5 years and 10 years.

Minimum deposit amount is 100, while an account holder can deposit a maximum of 1 lakh per year.

Bank of Maharashtra term deposit

1. Eligibility
Individual or HUF

2. Amount of Deposit
Minimum Rs 100/- Or in multiple thereof with maximum of Rs. 1.5 lakh in one Year i. e. from 1st April to 31 st March.

3. Tenure of the Deposit
Not less than 5 Years - Maximum up to 10 Years.

4. Interest Rate
Subject to change by the Bank from time to time

5. Types of Deposits & Interest Payment
The Deposits can be accepted under the scheme in MIDR / QIDR/FDR/CDR

Accordingly interest to be paid half yearly/ quarterly/monthly/in lump sum on maturity

6. Investment Limits
Minimum of Rs. 100/- or in multiple thereof with maximum of Rs. 1.5 lakh in one year i.e. from 1st April to 31st March.

7. Tax aspects
Interest on these term deposits shall be liable to tax under the Act,

8. Premature withdrawal
No term deposit shall be encashed before the expiry of five years from the date of its receipt.

9. Transferability Feature
Can be transferred from one branch to another branch of the BOM but not to any other banks branch

10. Nomination Facility
Available as per our existing practice in the Bank

11. Loan Against Deposit
Not allowed in any case.

12. Mode of Holding
Single holder type