Mahabank's Cumulative deposit scheme gives a rate of return much higher than the apparent rate stated on the deposit receipt as this deposit earns an interest on quarterly compounded basis.

Eligibility :

Any individual, singly or jointly or a firm, corporate, club etc.

Amount of Deposit :

Minimum amount of deposit is Rs.100/- and in multiples thereof.

Rate of Interest :

Attractive rate of interest as decided by bank from time to time on maturity patterns.

Period of Deposit :

The period of deposit ranges from a minimum of 6 months up to a maximum of 120 months.

Nomination

Nomination facility is available.

Other benefits:

• Loan facility is available Upto 90% of the deposit plus accrued interest thereon.
• No TDS if appropriate forms (15 H / 15 G) are submitted.
• Annual yield and date of maturity to be informed to the depositor.
• Autorenewal instructions be obtained.