Bank of Maharashtra (BoM) has raised interest rates on deposits of Rs. 1-5 crore by 70 basis points to 9 per cent for one year and for deposits upto Rs. 1 crore for 1-3 years by 25 basis points to 8.55 per cent. Deposits under Mahalakshmi term deposit scheme will get an increase of 30 basis points in interest rate at 8.60 per cent.
Senior citizens will get an additional interest rate of 75 basis points (50 basis points) for deposits of one year and above and 50 basis points for maturity slab of 91 days to less than one year.