BANK OF MAHARASHTRA
(A GOVT. OF INDIA ENTERPRISE) Marketing & Publicity Department
Head Office, 'Lokmangal', 1501, Shivajinagar, Pune - 411005
Ph:25536682/25536955 Fax: 25520473/25537015
Website: www.bankofmaharashtra.inEmail: agmmkt@mahabank.co.in
PRESS RELEASE
24-08-2013
Bank of Maharashtra increases interest rates on Term deposits/ Non Resident Deposits & also Base Rate
Bank of Maharashtra has increased interest rates on domestic term deposits up to
150 basis points (bps) in different maturity bands with effect from 26th August 2013.
Interest rate in its popular 3 years "Mahalaxmi" term deposits scheme for amount above Rs. 1 cr is increased by 35 bps. Under the scheme, senior citizens will be
offered interest rate of 9.60% p.a. and other depositors will be offered 9.10% p.a. And Interest rate in its popular 444 days "Mahanidhi" term deposit scheme for
amount upto Rs.1 cr is increased by 15 bps, for senior citizens at the rate of 9.75%
p.a. and other depositors at the rate of 9.25% p.a.
And Interest rate for short term deposits/ Non Resident Deposits in other maturity periods is increased up to 150 basis points. Earlier the ank has also increased rates for FCNR Deposits substantially.
The "Base Rate