MAHESH BANK

Interest Rates on Deposits

Domestic Deposits (With Effect from 01-11-2021)
S.No. Slab/Category Rate of Interest
Resident Indians

Sr. Citizens

(Resident Indians)
(60 Yrs to 75 Yrs)

Super Sr. Citizens

(Resident Indians)
(Above 75 Yrs)

NRE

(Minimum Period 1 Year)

Savings Deposits 4.00% 4.00% 4.00% 4.00%
TERM DEPOSITS
1. 7 Days to 29 Days 3.00% 3.50% 3.75% -
1. 30 Days to 90 Days 4.00% 4.50% 4.75% -
2. 91 Days to 180 Days 4.50% 5.00% 5.25% -
3. 181 Days to 299 Days 5.25% 5.75% 6.00% -
4. 300 Days 6.10% 6.60% 6.85% -
5. 301 Days & upto 1 year 5.50% 6.00% 6.25% 5.50%
6. Above 1 Year & upto 2 Years 6.00% 6.50% 6.75% 6.00%
7. Above 2 Years & upto 3 Years 6.25% 6.75% 7.00% 6.25%
8 Above 3 Years & Upto 5 Years 6.00% 6.50% 6.75% 6.00%
9. Above 5 Years 6.00% 6.50% 6.75% 6.00%
TAX SAVER SCHEME:
10. 5 Years & Above 6.25% 6.75% 7.00% -

Note 1: Deposits under Mahesh Multiplier Deposit Scheme(MMD) will be accepted only in multiples of quarters.

2: Additional rate of interest applicable to Senior Citizen,Super Senior Citizen is not applicable for NRE deposits.

3:Foreclosure of deposit attracts 1% penalty.

"On premature closure of Term Deposit, the rate of interest payable will be the Applicable Rate ( at the time of Opening of Term Deposit Account) for the period for which the Deposit has run Less penalty of 1% "

Deposit Schemes

Andhra Pradesh Mahesh Co-operative Urban Bank offers different deposit schemes with lucrative Interest Rates.

  • Mahesh Multiplier Deposit Scheme (MMD)
  • Fixed Deposits
  • Mahesh Lakhpati Yojana
  • Mahesh Automatic Renewal Scheme (MARS)
  • Recurring Deposits (RD)
  • Mahesh Tax Saver Fixed Deposit & Mahesh Tax Saver Multiplier Deposit Scheme
  • Mahesh Cash Certificate: (MCC)
  • Mahesh Mangal Nidhi (MMN)
  • Note: " On premature closure of Term Deposit, the rate of interest payable will be the Applicable Rate ( at the time of Opening of Term Deposit Account) for the period for which the Deposit has run Less penalty of 1% "
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