Bank FD Comparison Tool
Bank of Maharashtra vs Union Bank of India Fixed Deposit Comparison 2026
Compare Fixed Deposit interest rates, maturity amounts, and features between Bank of Maharashtra (Public Sector) and Union Bank of India (Public Sector).
Bank of Maharashtra
Public Sector
VS
Union Bank
Public Sector
Bank of Maharashtra: Min ₹1,000
Union Bank: Min ₹1,000
DICGC Insured up to ₹5 Lakhs
Compare Your FD Returns
Adjust the parameters below to see how returns compare between the two banks
₹
Five Lakhs rupees
₹1,000₹20,00,000
years
1 year10 years
Interest Rate Comparison
Interest Rates by Tenure
General rates across different tenures
Current selection: 3 years (1095 days) -Bank of Maharashtra: % |Union Bank: %
Side-by-Side Rate Comparison
Direct comparison of general rates
Bank of Maharashtra
Union Bank
Highlighted = Your selected tenure
Feature Comparison
Features | Bank of Maharashtra Public Sector | Union Bank Public Sector |
|---|---|---|
Minimum FD Amount | ₹1,000 | ₹1,000 |
Current Interest Rate(Selected Tenure) | % | % |
Premature Withdrawal Penalty | 1% | 1% |
Official Rate Source | View Official Rates | View Official Rates |
Bank of Maharashtra
Public Sector Bank
Key Advantages:
Government-owned public sector bank
Established in 1935, serving Maharashtra and beyond
Special schemes: 400 days (6.50%), 500 days (6.55%), 600 days (6.50%), Green Deposit 1777 days (6.05%)
Wide branch network across India
Online FD booking facility
Senior citizens get +0.50% additional interest
Union Bank of India
Public Sector Bank
Key Advantages:
Government-owned bank with strong security
Merged entity strength
Pan-India presence
Affordable banking rates
Competitive interest rates
Super senior citizen benefits (80+ years)
Important: Fixed Deposit Safety & Insurance Coverage
₹5 Lakh Insurance Limit
The Deposit Insurance and Credit Guarantee Corporation (DICGC) provides insurance coverage of up to ₹5 lakhs per depositor per bank. This means if you deposit more than ₹5 lakhs in a single bank, only ₹5 lakhs is guaranteed by the government.
⚠️ Recommendation:
Never deposit more than ₹5 lakhs in a single bank. If you have larger amounts, distribute them across multiple banks to ensure full insurance coverage.
Smart Distribution Strategy
For ₹10 lakhs: Split between Bank of Maharashtra (₹5L) + Union Bank (₹5L)
For ₹15 lakhs: Add a third bank to the mix
💡 Pro Tip:
You can also open FDs in different family members' names in the same bank to get additional ₹5 lakh coverage for each account holder.
Key Insights & Recommendations
Choose Bank of Maharashtra If:
- •Minimum amount: ₹1,000
- •Public Sector banking preference
- •Government-owned public sector bank
- •Established in 1935, serving Maharashtra and beyond
- •Special schemes: 400 days (6.50%), 500 days (6.55%), 600 days (6.50%), Green Deposit 1777 days (6.05%)
Choose Union Bank If:
- •Minimum amount: ₹1,000
- •Public Sector banking preference
- •Government-owned bank with strong security
- •Merged entity strength
- •Pan-India presence
Best Strategy:
- •Split large amounts across both banks
- •Keep ≤₹5L per bank for insurance
- •Compare rates before investing
- •Consider branch convenience
- •Review rates periodically
Explore more FD comparisons
Looking for a different bank matchup? Use these quick links to jump to other FD comparisons.
Compare Bank of Maharashtra with other banks
Compare Union Bank with other banks
Ready to Invest in Fixed Deposits?
Use our individual bank calculators for detailed planning