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Interest Rates

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Deposit Interest Rates

Interest rates for Deposits accepted/renewed by Maharashtra Gramin Bank
Sr.No. Period (For deposite below Rs. 2.00 Crore) Interest Rate % w.e.f. 09.01.2023
1 07 - 14 Days 3.75
2 15 - 30 Days 3.75
3 31 - 45 Days 3.75
4 46 - 90 Days 4.55
5 91 - 179 Days 5.00
6 180 - less than 1 year 5.75
7 1 Year 6.80
8 Above 1 Year to Less Than 2 Years 6.80
9 2 Years to Less Than 3 years 6.80
10 3 years SPECIAL 6.85
11 Above 3 Years to Less Than 5 Years 6.50
12 5 Years SPECIAL 6.85
13 5 Years to 10 Years 6.50
14 Tax Saver Schemes * (For 5 Years to 10 Years) 6.25
For Interest Rates of Single Domestic Term Deposits of 2.00 Crore & Above.Kindly Contact to Nearest Branch.

Term Deposit Tax Saver Schemes (Minimum Period 5 Years) will be as per the Interest Rate mentioned above upto investment of Rs. 1.50 lakh only in a Financial Year. --General Conditions--

  • The revised interest rates are applicable to renewals and fresh (new) Term Deposits only.
  • Senior Citizens will be offered an additional rate of 0.50 % only for Term Deposits of 91 days and above period.
  • Deposits to be accepted for a maximum period of 10 years.
  • Deposits accepted at one branch should not be split into other branches.
  • Interest rate for Saving Bank Deposit - 2.75 % p.a. (1 % additional for staff and retired employees of the Bank).
  • All rates are subject to change from time to time.
Premature payment of Term Deposits -
  • In case if premature withdrawal of Deposit, the applicable rate would be 1 % below the Interest Rate of the period for which deposit has been actually held. However, if premature withdrawal of Deposit is taken for reinvestment in the Bank for a period longer than residual maturity period of existing deposit there will be no penalty on applicable rate.
  • Considering our competitive interest rates, branches are advised to mobilize the maximum fresh deposits. In case additional interest rate is required for Term Deposits (Rs.15.00 lakh and above) branches may Contact to Accounts Department, Head Office for sanction through Regional Office. DRI is not applicable, when any other additional benefit is availed.

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