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Bank of Maharashtra Floating Rate Savings Bonds 2020 (Taxable)

Government Floating Rate Savings Bonds 2020 distributed through designated Bank of Maharashtra branches, with semi-annual coupon resets, seven-year maturity and no maximum investment limit.

General ratePPF, SCSS and Sukanya Samriddhi rates are notified by the Ministry of Finance quarterly. Floating Rate Savings Bonds pay a coupon reset every six months; the reviewed page shows 7.15% for the first coupon period and says the next half-year resets.Senior-citizen rateSCSS is itself a senior-citizen scheme. The reviewed PPF, Sukanya Samriddhi and Floating Rate Savings Bond pages do not publish a separate senior-citizen premium.Tenure / programmePPF: 15 years, extendable in five-year blocks; SCSS: five years, extendable by three years; Sukanya Samriddhi: deposits up to 15 years with maturity after 21 years; Floating Rate Savings Bonds: seven years.
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Bank of Maharashtra Floating Rate Savings Bonds 2020 (Taxable)

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Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: NRIs are not eligible?

2Do you meet this requirement: the account is issued in electronic Bond Ledger Account form through designated branches?

3Document checkDo you have this required document or proof: Bond application and KYC?

4Document checkDo you have this required document or proof: PAN and accepted identity/address proof?

5Document checkDo you have this required document or proof: Guardian documents for minor investment?

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✓ Manually checked 1 Sept 2026 · active
Offered byBank of Maharashtra

Designated Bank of Maharashtra branches

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Tenure / programmePPF: 15 years, extendable in five-year blocks; SCSS: five years, extendable by three years; Sukanya Samriddhi: deposits up to 15 years with maturity after 21 years; Floating Rate Savings Bonds: seven years.View source
Each linked official page publishes the programme term recorded here.
Source
Government Schemes
Page / section
; ; Sukanya Samriddhi; FRSB links
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
General ratePPF, SCSS and Sukanya Samriddhi rates are notified by the Ministry of Finance quarterly. Floating Rate Savings Bonds pay a coupon reset every six months; the reviewed page shows 7.15% for the first coupon period and says the next half-year resets.View source
The FRSB page prints the first coupon and six-month reset rule; the , and SSY pages delegate rates to Government notifications.
Source
Floating Rate Savings Bonds 2020
Page / section
Coupon and reset
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Senior-citizen rateSCSS is itself a senior-citizen scheme. The reviewed PPF, Sukanya Samriddhi and Floating Rate Savings Bond pages do not publish a separate senior-citizen premium.View source
eligibility is age-based; the other reviewed scheme pages contain no separate senior-citizen rate.
Source
Senior Citizens Savings Scheme
Page / section
Eligibility and interest
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Minimum / contributionPPF: ₹500 minimum and ₹1,50,000 annual maximum; SCSS: ₹1,000 minimum in multiples and ₹30,00,000 maximum; Sukanya Samriddhi: ₹250 initial minimum, ₹100 multiples thereafter and ₹1,50,000 annual maximum; FRSB: ₹1,000 in multiples with no maximum.View source
The individual scheme pages publish the limits consolidated here.
Source
Government Schemes and linked pages
Page / section
Investment / contribution terms
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Withdrawal / closure termsPPF loan and withdrawal are allowed only at the scheme-prescribed account ages; premature closure is limited to life-threatening disease, higher education or residency change. SCSS may close after one year with 1.5% deduction before two years or 1% after two years; extension-period closure after one year has no deduction. SSY premature closure is limited to death or authorised extreme compassionate grounds; education/marriage withdrawal is up to 50% after the stated milestone. FRSB premature redemption is only for specified senior citizens.View source
Each linked official page publishes the scheme-specific restriction recorded here.
Source
; ; Sukanya Samriddhi; FRSB
Page / section
Withdrawal and premature closure sections
Accessed
1 Sept 2026
Confidence
high
Open official source ↗
Payout / redemptionPPF interest is credited on 31 March; SCSS interest is paid quarterly; Sukanya Samriddhi compounds and credits interest under Government rules; FRSB pays interest semi-annually on 1 January and 1 July and redeems after seven years.View source
The linked official pages publish the payout timing for each scheme.
Source
Government savings schemes
Page / section
Interest credit and redemption sections
Accessed
1 Sept 2026
Confidence
high
Open official source ↗

Benefits and features

  • Minimum ₹1,000 in ₹1,000 multiples; no maximum
  • Non-cumulative interest payable on 1 January and 1 July
  • Coupon resets every six months
  • Seven-year maturity
  • Premature redemption only for specified senior-citizen categories
  • Interest taxable; bonds not tradeable or loan collateral

Eligibility

  • are not eligible; the account is issued in electronic Bond Ledger Account form through designated branches.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Bond application and
  • and accepted identity/address proof
  • Guardian documents for minor investment

Related official documents

Floating Rate Savings Bonds 2020 (Taxable)official-product-page · current · accessed 1 Sept 2026
↗

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Deposit maturity estimate

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Money at maturity₹1,42,524one lakh forty-two thousand five hundred twenty-four rupees
Money you put in₹1,00,000one lakh rupees
Interest earned₹42,524forty-two thousand five hundred twenty-four rupees

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Ordinary Current Account · Balance rule ₹10,000 metro/urban; ₹5,000 semi-urban; ₹2,500 rural

This value is copied from Bank of Maharashtra current-account tiers and published limits. Check the table notes before relying on it.

Source: Bronze / Silver / Gold / Platinum / Diamond Current Account · Complete scheme table Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 6 rows · 4 columnsBank of Maharashtra current-account tiers and published limitsView tableHide table

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Bank of Maharashtra current-account tiers and published limits
Product / tierBalance ruleFree cash deposit / withdrawalOther published facilities
Ordinary Current Account ₹10,000 metro/urban; ₹5,000 semi-urban; ₹2,500 ruralHome-branch cash withdrawal free; service charges for shortfallNomination; RuPay debit card; digital and telebanking
Bronze Premium ₹1,00,000–₹5,00,000₹1,50,000 cash deposit/day free₹5,000 opening deposit; 500 cheque leaves/year
Silver Premium ₹5,00,000–₹10,00,000₹3,00,000 cash deposit/day free/ and digital facilities free
Gold Premium ₹10,00,000–₹15,00,000₹7,00,000 cash deposit/day freeLocker, debit card and statements free
Platinum Premium ₹15,00,000–₹25,00,000₹10,00,000 cash deposit/day freeOne locker free subject to availability
Diamond Premium ₹25,00,000 and aboveNo daily cash-deposit limitAll listed digital, payment and locker concessions
Bronze / Silver / Gold / Platinum / Diamond Current Account · Complete scheme table · accessed 1 Sept 2026Open official source ↗
Table 2 · 5 rows · 4 columnsBank of Maharashtra recurring-deposit termsView tableHide table

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Bank of Maharashtra recurring-deposit terms
SchemeMinimum / maximumTermInterest / facility
Recurring Deposit₹50/month; no ceiling6–120 monthsCumulative; loan facility
Mahasanchay Deposit PlanCore ₹100–₹10,000; flexi up to ₹50,000/month12–60 months in 3-month multiplesRetail term-deposit rate; loan up to 90% of balance
Maha Saraswati Scheme₹100/month on current page36–120 monthsRetail term-deposit rate; education-loan concession
Deposit-policy reference: MLRDSuitable for maturity value of at least ₹1 lakh; no ceiling12–120 monthsCumulative; loan facility; current availability not separately listed on live catalogue
Deposit-policy reference: MMRDSuitable for maturity value of at least ₹10 lakh; no ceiling12–120 monthsCumulative; loan facility; current availability not separately listed on live catalogue
Deposit Policy — Annexure A · Pages 23–24, rows 1–4 and 13–16 · accessed 1 Sept 2026Open official source ↗
Table 3 · 7 rows · 4 columnsBank-distributed Government savings and insurance schemesView tableHide table

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Bank-distributed Government savings and insurance schemes
ProductMinimum / coverTerm / ageRate / payout / key condition
₹500–₹1,50,000 per financial year15 years; five-year extensionsGovernment-notified rate; annual credit on 31 March
₹1,000–₹30,00,000Five years; three-year extensionGovernment-notified quarterly rate; quarterly payout; 60+ or qualifying retiree
Sukanya Samriddhi₹250 initial; ₹1,50,000 yearly maximumDeposits 15 years; maturity 21 years; girl below 10 at openingGovernment-notified rate; education/marriage withdrawal rule
Floating Rate Savings Bonds₹1,000 multiples; no maximumSeven yearsSemi-annual reset and payout; taxable; specified senior-citizen premature redemption
Sovereign Gold BondsMinimum 1 gram; annual ceiling by investor typeEight years; exit after fifth year2.50% p.a. semi-annually; gold-price-linked redemption
₹2,00,000 life cover; ₹436/yearAge 18–50; 1 June–31 May30-day lien for non-accidental death; annual auto-debit
₹2,00,000 death/total disability; ₹1,00,000 specified partial disability; ₹20/yearAge 18–70; 1 June–31 MayAccident cover; annual auto-debit
Government Schemes catalogue and linked product pages · Complete current scheme catalogue and linked terms · accessed 1 Sept 2026Open official source ↗

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