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Monthly Interest Deposit Scheme

Mahabank's monthly interest deposit scheme offers the convenience of getting monthly income, just like an added income to normal earnings, making it possible to plan monthly budget.

Eligibility :

The Account can be opened in the name of an individual, minor, joint depositors, firms, corporate, clubs etc.

Amount of Deposit :

Minimum amount of deposit Rs.1000/- and in multiples of Rs.100/- thereafter.

Rate of Interest :

Attractive Rate of interest as decided by Bank from time to time on maturity patterns. The monthly interest is calculated at discounted value.

Period of Deposit :

Period of deposit would range from a minimum period of 12 months to maximum period of 120 months.

Other benefits:

  • Int. would be credited as per instructions of depositor to his SB, CA, RD a/c etc.
  • Loan facility is available Upto 90% of the deposit.
  • Nomination facility is available.