Private sector lender, Bank of Maharashtra has raised its deposit rates as well as lowered interest rates on home loans as part of its Diwali offer to customers.
Interest rates on domestic term deposits have been raised for various maturities in the range of 25 to 100 bps.
Deposits having maturities in the range of 91 to 180 days will now fetch 5.75% per annum, a 100 bps rise over the earlier rate. Interest rate has been raised by 50 bps to 3.50% for maturities of 31 to 45 days.
Deposits for 46 to 60 days will get interest rate of 4 per cent p.a. now.
Senior citizens will continue to get extra 50 basis points on above rates on deposits for 91 days and above.