Bank of Maharashtra FD Calculator 2025: Eligibility Criteria, Interest Rates & Fixed Deposit Guide

What is a Fixed Deposit (FD)?

A Fixed Deposit is a financial product where you deposit a specific sum of money with the bank for a fixed period, and in return, you earn a guaranteed rate of interest on your deposit. The interest rate is agreed upon at the time of opening the FD and remains fixed until maturity.

FDs are low-risk and offer assured returns, making them ideal for:

• Risk-averse investors
• Senior citizens
• People saving for future expenses (like education, weddings, etc.)
• Anyone looking for stable income

Bank of Maharashtra FD Interest Rates 2025

In 2025, the Bank of Maharashtra offers attractive FD interest rates based on the amount and the duration (tenure) of the deposit. The rates are slightly higher for senior citizens, encouraging them to invest and earn more on their savings.

Eligibility Criteria for Bank of Maharashtra FD

To open a Fixed Deposit account with the Bank of Maharashtra, you need to meet basic eligibility requirements. The good news is – almost anyone can apply!

Who Can Open an FD?

• Resident individuals (above 18 years)
• Minors (with a guardian)
• Senior Citizens
• Joint Account Holders
• Hindu Undivided Families (HUFs)
• Firms and Companies
• Trusts and Societies

All you need is a valid ID proof, address proof, and PAN card to get started.

How to Use the Bank of Maharashtra FD Calculator

The FD Calculator is a simple online tool that helps you estimate your total interest earned and maturity amount before investing. It’s especially helpful for comparing different tenures and interest payout options.

Steps to Use the FD Calculator:

1. Visit the official Bank of Maharashtra website.
2. Go to the FD Calculator section.
3. Enter the deposit amount you want to invest.
4. Select the tenure (number of months/years).
5. Click on ‘Calculate’.
6. Choose your interest payout preference:

• Monthly
• Quarterly
• At Maturity

You will instantly see the total interest earned and the final amount you’ll receive at the end of your FD term.

Benefits of Bank of Maharashtra Fixed Deposits

Fixed Deposits are not just about saving — they’re about securing your financial future with peace of mind. Bank of Maharashtra offers a wide range of FD features that suit every kind of investor, from young savers to senior citizens. Let’s explore these benefits in detail:

1. Assured & Safe Returns

Unlike stocks or mutual funds, Fixed Deposits are not affected by market ups and downs. Once you fix your money in a Bank of Maharashtra FD, you are guaranteed to get the same interest rate till the end of the tenure. This makes FDs a safe and predictable way to grow your savings, especially for risk-averse people.

2. Flexible Investment Tenure

Bank of Maharashtra offers flexible FD terms starting from just 7 days to as long as 10 years. This allows you to plan your investment based on your financial goals. For example:

1. Short-term FD for emergency funds (7 days to 1 year)
2. Mid-term FD for education, travel, or marriage (1 to 5 years)
3. Long-term FD for retirement planning or wealth building (5 to 10 years)

3. Higher Interest Rates for Senior Citizens

Senior citizens (60 years and above) are given additional interest of 0.50% per annum on regular FD rates. This is extremely helpful for those who rely on interest income after retirement. It helps increase monthly earnings without taking any risk.

4. Loan or Overdraft Facility Against FD

If you suddenly need money during the FD term, you don’t have to break your FD. Instead, Bank of Maharashtra offers a loan or overdraft facility of up to 90% of your FD amount. This way, your FD keeps earning interest while you get the money you need.

It’s a great way to handle urgent expenses without disturbing your long-term savings.

5. Auto-Renewal Option

Forgot to renew your FD? No worries. The Bank of Maharashtra allows you to choose an auto-renewal option. When your FD matures, it will automatically renew for the same period at the prevailing interest rate — so your money continues to grow without any action from your side.

6. Nomination Facility

When you open an FD, you can assign a nominee (a family member or legal heir). In case of any unfortunate event, the nominee can claim the FD amount easily. This ensures your savings go to your loved ones without legal complications.

7. Tax-Saving Fixed Deposits

Bank of Maharashtra also offers Tax Saver Fixed Deposits under Section 80C of the Income Tax Act. You can invest up to ₹1.5 lakh per year and save tax, but these FDs come with a 5-year lock-in period. It’s ideal for those who want both savings and tax benefits.

8. Easy to Open and Manage

Opening an FD with Bank of Maharashtra is simple. You can do it:

• Offline by visiting the nearest branch
• Online through net banking or mobile app (for existing customers)
• You can track your FD, interest, and maturity date anytime from your phone or computer.

9. Multiple Interest Payout Options

You can choose how you want to receive the interest from your FD:

1. Monthly – Good for regular income needs (ideal for retirees)
2. Quarterly – Every 3 months
3. At Maturity – Full interest is paid along with principal at the end

This flexibility helps you plan your cash flow better.

10. Deposit Insurance

All FDs in the Bank of Maharashtra are covered under the Deposit Insurance and Credit Guarantee Corporation (DICGC). This means your deposits are insured up to ₹5 lakh per customer per bank, including principal and interest. So even in the rare case of a bank issue, your money is safe.

Bank of Maharashtra Fixed Deposits come with a perfect mix of safety, flexibility, steady returns, and easy liquidity. Whether you're saving for a short-term goal or investing for long-term stability, the bank provides all the necessary tools to make your money grow securely.