Fixed Deposits
Deposits are accepted ranging from 30 days to 10 years and the interest is paid at regular intervals (monthly/quarterly/half yearly) at an attractive rate of interest.
All individuals / associations etc. are eligible to open the Fixed Deposit Account.
Fixed Deposits can also be accepted for any period in multiples of complete months or even for a period where the terminal month is incomplete.
Ex. For 13 months and 12 days.
For Rate of Interest Click Here
Mahesh Automatic Renewal Scheme (MARS)
Short Term Deposits of 30 days duration are accepted under the scheme and will be automatically renewed together with interest repeatedly for 30 days at a time.
No need to produce the deposit receipt for renewals. TDS if applicable will be deducted on every renewal.
Deposits are accepted from Individuals as well as from Firms and Societies and issued in multiples of Rs. 100/-. >
Mahesh Cash Certificate (MCC)
A small odd amount of deposit made today grows into a lumpsum rounded of sum i.e., in multiples of Rs. 100/- , Rs. 1000/-,Rs. 5000/-, and so on.
Features :
Mahesh Daily Deposit Scheme
The scheme is primarily intended for those who are interested to save a small portion of their earnings on day to day basis, for investment in productive activities.
The minimum amount of Deposit is Rs.50/- per day. The minimum period of deposit is 12 months and maximum is 36 months.
MDD account may be opened in the:
Amounts can be credited into the account by a depositor through an Authorized Agent of the Bank.
The Authorized Agent of the Bank will collect the deposit at the doorsteps of the depositor, and issue acknowledgement receipt/slip. The Authorized Agent will carry an Identity Card issued by the Bank.
The rate of interest payable on this deposit is:
Prematurity Refund:
Before one month - Not Permitted
After 1 Month & before 12 months - Permitted with penalty @3% and without interest
12 Months and above - Interest will be paid at applicable MDD rates
Loans:
Bank may consider granting of loans at its discretion up to 75% of the outstanding amount against the security of Deposit amount. The minimum loan shall be Rs. 5000/- and the rate of interest is 10% p.a.
Mahesh Dynamic Fixed Deposit Scheme:
It is a fixed deposit scheme coupled with automatic overdraft facility.
Features:
Mahesh Lakhpati Yojana)
For Interest Rate Click Here
Mahesh Mangal Nidhi (MMN)
A rare combination with the both the features of Recurring Deposit and Cash Certificate. Investing the amount at monthly intervals for a specific period and tacit waiting will make you the owner of a sizable amount.
Features:
Mahesh Multiplier Deposit Scheme
It is a special term deposit under which the quarterly interest payable is reinvested. As a result the interest on term deposit transforms into a higher effective rate of interest.
For Rate of Interest Click Here
Mahesh Tax Saver Fixed Deposit & Mahesh Tax Saver Multiplier Deposit Scheme
The Fixed Deposits and multiplier deposits made under this scheme are in all respects the same as our normal Fixed Deposit and Multiplier Deposits as for as governing the systems and procedures and interest rate structure ore concerned.
Recurring Deposit:
A recurring deposit may be opened in the names of Individuals, joint holders, minors, firms, institutions, associations and companies without restriction to number of accounts.
Basic Savings
Features
No Minimum Balance, No initial deposit to open the account.
No restrictions like Age, Income Criteria for opening BSBD Account.
All provisions of KYC, AML, PML are applicable.
Passbooks are given free.
Maximum of Four withdrawals in a month including ATM withdrawals;
RuPay ATM Cum Debit Card with Accidental Insurance of Rs. 1.00 Lac free
No charges for all the above facilities
PMJDY
The Hon’ble Prime Minister in his Independence Day Speech on 15th August, 2014 announced a comprehensive program of Financial Inclusion targeting the large number of people who are currently deprived of even rudimentary financial services. The PradhanMantri Jan DhanYojana (PMJDY) sets out to provide a basic Bank account to every family who till now had no account.