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Fixed & recurring deposits

Tax Saving Term Deposit

Five-year tax-saving term deposit listed under section 80C of the Income-tax Act, with deposits applicable up to ₹1.5 lakh.

Published deposit-rate bandsRegular callable rates w.e.f. 18 June 2026: 2.60% (7–30 days), 2.75% (31–45), 3.75% (46–90), 4.00% (91–119), 4.75% (120–180), 5.00% (181–270), 5.25% (271–364), and 6.40% (365 days/one year) for deposits below ₹3 crore; applicable higher slabs and special schemes are shown in the linked table.Senior-citizen rateResident Indian senior citizens receive an additional 0.50% p.a. for maturity slabs of 91 days and above on deposits up to ₹5 crore; the additional rate is not applicable to non-resident deposits.Tenure / programmeRegular term deposits are accepted for up to 10 years. Tax-saving term deposit has a five-year lock-in. Maha Saraswati recurring deposit runs 36–120 months; monthly and quarterly interest variants follow the selected term-deposit tenure.
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Quick eligibility check

Tax Saving Term Deposit

0 of 5 answered

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: Not applicable?

Published source: Minimum income

2Do you meet this requirement: The official rate page states the Bank Term Deposits Scheme, 2006 (five-year tax-saving scheme) applies up to ₹1.5 lakh?

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

Published source: Minimum income

4Document checkDo you have this required document or proof: PAN and tax declaration where applicable?

Published source: Minimum income

5Document checkDo you have this required document or proof: deposit eligibility is based on depositor identity and KYC, not an income threshold?

Published source: Minimum income
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✓ Manually checked 31 Aug 2026 · active
Offered byBank of Maharashtra

India; subject to statutory and scheme terms

Key facts

What the official sources publish

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

Published deposit-rate bandsRegular callable rates w.e.f. 18 June 2026: 2.60% (7–30 days), 2.75% (31–45), 3.75% (46–90), 4.00% (91–119), 4.75% (120–180), 5.00% (181–270), 5.25% (271–364), and 6.40% (365 days/one year) for deposits below ₹3 crore; applicable higher slabs and special schemes are shown in the linked table.View source
The current table publishes callable rates by duration and amount slab.
Source
Domestic Term Deposit Rates
Page / section
Regular and special schemes
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum tenureDeposits accepted for a maximum period of 10 years.View source
The current terms state that deposits are accepted for a maximum of 10 years.
Source
Domestic Term Deposit Rates
Page / section
General conditions
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Premature withdrawalInterest is paid at the rate applicable to the period actually held, less the stated 1 percentage-point adjustment; NRE deposits require a one-year minimum and attract 1% penalty after one year.View source
Premature-payment and -specific conditions are published below the rate tables.
Source
Domestic Term Deposit Rates
Page / section
Premature withdrawal and conditions
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Minimum incomeNot applicable; deposit eligibility is based on depositor identity and KYC, not an income threshold.View source
The catalogue lists depositor types and does not state an income requirement.
Source
Term Deposits
Page / section
Depositor eligibility
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Senior-citizen rateResident Indian senior citizens receive an additional 0.50% p.a. for maturity slabs of 91 days and above on deposits up to ₹5 crore; the additional rate is not applicable to non-resident deposits.View source
The current page publishes the 0.50% senior-citizen increment, 91-day threshold and ₹5 crore ceiling.
Source
Domestic Term Deposit Rates
Page / section
Senior-citizen condition below rate tables
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Minimum depositNot published as one universal minimum across the five named term-deposit variants on the reviewed catalogue and current rate pages. The tax-saving scheme separately publishes a ₹100 minimum and ₹1,50,000 maximum; Maha Saraswati publishes a ₹100 monthly instalment.View source
The tax-saving page publishes its own minimum/maximum; the general catalogue does not publish one common minimum.
Source
Tax Saving Term Deposit
Page / section
Investment limits
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Tenure / programmeRegular term deposits are accepted for up to 10 years. Tax-saving term deposit has a five-year lock-in. Maha Saraswati recurring deposit runs 36–120 months; monthly and quarterly interest variants follow the selected term-deposit tenure.View source
The pages publish the ten-year regular maximum, five-year tax lock-in and 36–120 month Maha Saraswati term.
Source
Maha Saraswati Scheme and Domestic Term Deposits
Page / section
Tenure and maturity
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest payout / redemptionMonthly Interest Deposit pays monthly; Quarterly Interest Deposit pays quarterly; fixed/cumulative deposits pay at maturity under the selected scheme. Maha Saraswati repays the accumulated instalments and interest at maturity (or one month after the last instalment, whichever is later).View source
The catalogue names monthly, quarterly and fixed-deposit payout options; the Maha Saraswati page states its maturity rule.
Source
Term Deposits
Page / section
Named payout schemes
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Section 80C tax-saving treatment
  • Deposit limit stated as up to ₹1.5 lakh

Eligibility

  • The official rate page states the Bank Term Deposits Scheme, 2006 (five-year tax-saving scheme) applies up to ₹1.5 lakh.

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

Documents the bank lists

  • and tax declaration where applicable

Related official documents

Deposit Policy — Term Deposit Schemes (Annexure A–D)official-document · current-policy-reference · accessed 1 Sept 2026
↗
Interest Rates — savings and domestic/NRO term depositsofficial-rate-page · current · accessed 31 Aug 2026
↗
Domestic/NRO Term Deposit Rates — 18 June 2026official-rate-page · current · accessed 31 Aug 2026
↗
Term Deposits — deposit catalogueofficial-product-page · current · accessed 31 Aug 2026
↗

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Deposit maturity estimate

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Money at maturity₹1,13,835one lakh thirteen thousand eight hundred thirty-five rupees
Money you put in₹1,00,000one lakh rupees
Interest earned₹13,835thirteen thousand eight hundred thirty-five rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

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Fixed Deposit · Published detailIndividuals, firms, partners, companies and minors with guardian

This value is copied from Bank of Maharashtra term-deposit schemes. Check the table notes before relying on it.

Source: Term Deposits · Complete named-scheme catalogue Open official source ↗

Published tables

Complete rates, limits and schedules

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

Table 1 · 5 rows · 2 columnsBank of Maharashtra term-deposit schemesView tableHide table

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Bank of Maharashtra term-deposit schemes
SchemePublished detail
Fixed DepositIndividuals, firms, partners, companies and minors with guardian
Monthly Interest Deposit SchemeMonthly payout; individuals, minors, joint depositors, firms, corporate entities and clubs
Quarterly Interest Deposit SchemeQuarterly payout; individuals, minors, joint depositors, firms, corporate entities and clubs
Tax Saving Term DepositBank Term Deposits Scheme, 2006; applicable up to ₹1.5 lakh
Maha Saraswati SchemeNamed scheme in the current term-deposit catalogue; variant terms to be confirmed with bank
Term Deposits · Complete named-scheme catalogue · accessed 31 Aug 2026Open official source ↗
Table 2 · 10 rows · 2 columnsDomestic/NRO callable rates below ₹3 crore — effective 18 June 2026View tableHide table

Scroll sideways to view every column

Domestic/NRO callable rates below ₹3 crore — effective 18 June 2026
DurationRate
7–30 days2.60% p.a.
31–45 days2.75% p.a.
46–90 days3.75% p.a.
91–119 days4.00% p.a.
120–180 days4.75% p.a.
181–270 days5.00% p.a.
271–364 days5.25% p.a.
365 days / one year6.40% p.a.
Special 400 days6.65% p.a.
Green Deposit 1777 days6.05% p.a.
Domestic Term Deposit Rates · Special and regular schemes · accessed 31 Aug 2026Open official source ↗

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