Eligibility :

An Individual, firm, partner & company, can open recurring deposit account. Even a minor can open Recurring deposit account with us. It is ideal for Doctors, Engineers, Businessmen, students, household women etc.

Amount of Deposit :

Monthly installment with a minimum Rs.50/- and in multiples of Rs.10/- thereafter

Period of Deposit :

Minimum 6 months to maximum 120 months.

Mode of Payment

  1. By deposit of cash
  2. By transfer from SB, CA account by issuing S.I.

Rate of Interest

Attractive rate of interest paid on deposit as decided by the bank from time to time on maturity patterns. Penalty for late payment of monthly instalments.

Mode of Payment

The entire proceeds will be paid one month after last installment is paid or maturity date whichever is later
Benefits

  1. NO TDS.
  2. Loan facility is available Upto 90% of deposit amount.
  3. Nomination facility is available.
  4. Account can be transferred from one branch to another branch.

 
 
 
 
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IMPORTANT: Bank of Maharashtra never ask for Bank account details for any purpose through phone call/email/SMS.

Bank appeals to all the customers not to respond to such phone call/email/SMS and not to share their bank account detail with any one for any purpose. Never share your CVV/ PIN No. of Debit/Credit card to anyone.