IndiaBanks.org · independent research

Fixed & recurring deposits

Star Motor Accidental Claimant Annuity Deposit ()

A court-directed annuity deposit that returns principal and interest as equated monthly instalments to a claimant.

Interest rateThe MACAD product page publishes the prevailing Bank of India rate of interest for the selected tenure. It does not publish a MACAD-specific numeric percentage; the applicable rate must be taken from the current term-deposit schedule for the selected 36–120-month (or court-directed longer) period.Senior-citizen rateThe MACAD page describes a prevailing rate by tenure but does not publish a separate senior-citizen or super-senior percentage. The Bank of India rate sheet does not list MACAD in its additional-rate applicability table; therefore no MACAD-specific senior add-on is published.TenureNormally 36–120 months; below 36 months follows normal fixed-deposit treatment, and a court direction may specify a longer period.
Official product page ↗Compare category

Quick eligibility check

Star Motor Accidental Claimant Annuity Deposit ()

0 of 2 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Do you meet this requirement: The page describes a single-name account for individuals and minors through a guardian?

2Document checkDo you have at least one of these required documents: Court or tribunal award/direction and KYC as applicable?

0 of 2 answeredAnswer the remaining questions to see your checklist result.
✓ Manually checked 21 Aug 2026 · active
Offered byBank of India

India; opened and operated under court or tribunal directions

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Minimum monthly annuity₹1,000 per month; there is no maximum deposit amount stated on the page.View source
Minimum monthly annuity is ₹1,000 and there is no maximum deposit limit.
Source
Star Motor Accidental Claimant Annuity Deposit
Page / section
Amount
Accessed
21 Aug 2026
Confidence
high
Open official source ↗
TenureNormally 36–120 months; below 36 months follows normal fixed-deposit treatment, and a court direction may specify a longer period.View source
The page states a normal period of 36–120 months, with court-directed exceptions.
Source
Star Motor Accidental Claimant Annuity Deposit
Page / section
Period
Accessed
21 Aug 2026
Confidence
high
Open official source ↗
Annuity payoutEquated monthly instalments comprise principal and interest; the annuity is credited to the MACT savings account net of applicable TDS.View source
The purpose is to provide equated monthly instalments of principal and interest; annuity is credited net of .
Source
Star Motor Accidental Claimant Annuity Deposit
Page / section
Monthly annuity
Accessed
21 Aug 2026
Confidence
high
Open official source ↗
Premature closurePremature closure or part lump-sum payment requires court permission; the page states no premature-closure penalty.View source
Premature closure/part lump sum is only with court permission and no premature closure penalty is charged.
Source
Star Motor Accidental Claimant Annuity Deposit
Page / section
Premature payment
Accessed
21 Aug 2026
Confidence
high
Open official source ↗
Interest rateThe MACAD product page publishes the prevailing Bank of India rate of interest for the selected tenure. It does not publish a MACAD-specific numeric percentage; the applicable rate must be taken from the current term-deposit schedule for the selected 36–120-month (or court-directed longer) period.View source
The official table states “Prevailing rate of interest as per Tenure”; no standalone rate is printed.
Source
BOI — official product page
Page / section
Motor Accident Claims Term Deposit — Rate of interest
Accessed
30 Aug 2026
Confidence
high
Open official source ↗
Senior-citizen rateThe MACAD page describes a prevailing rate by tenure but does not publish a separate senior-citizen or super-senior percentage. The Bank of India rate sheet does not list MACAD in its additional-rate applicability table; therefore no MACAD-specific senior add-on is published.View source
The full product table gives only the prevailing tenure-based rate and no senior-citizen add-on; the separate current rate-sheet applicability table names other exclusions but not .
Source
BOI — official product page
Page / section
Motor Accident Claims Term Deposit — Rate of interest
Accessed
30 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • Minimum monthly annuity ₹1,000
  • Tenure normally 36–120 months
  • No loan or advance; premature closure or lump-sum payment requires court permission

Eligibility

  • The page describes a single-name account for individuals and minors through a guardian.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

  • Court or tribunal award/direction and as applicable.

Related official documents

BOI MACAD — official product pageofficial-product-page · current · accessed 30 Aug 2026
↗
Star MACAD — official product pageofficial-product-page · current · accessed 31 Aug 2026
↗
Bank of India term-deposit catalogueofficial-product-page · current · accessed 21 Aug 2026
↗
Rupee Term Deposit Interest Rate for Domestic/NRO — Bank of Indiaofficial-rate-sheet · current · accessed 30 Aug 2026
↗

Plan before applying

Try the numbers

Private, instant and based on the values you enter.

Try your numbers

Deposit maturity estimate

See how much the deposit may be worth at the end. You can change the bank's published rate to test another case.

Money at maturity₹1,38,042one lakh thirty-eight thousand forty-two rupees
Money you put in₹1,00,000one lakh rupees
Interest earned₹38,042thirty-eight thousand forty-two rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Account type · Published detailMotor Accident Claims Annuity (Term) Deposit Account, opened for court-awarded motor-accident claim amounts.

This value is copied from Star Motor Accident Claims Annuity Deposit () — published terms. Check the table notes before relying on it.

Source: Star — Bank of India · Amount; Period; Monthly Annuity; Rate of Interest; Premature Payment; passbook and court-permission conditions Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 9 rows · 2 columnsStar Motor Accident Claims Annuity Deposit (MACAD) — published termsMotor Accident Claims Annuity Deposit amount, tenure, monthly payout, restrictions and interest treatment from Bank of India's official MACAD page.View tableHide table

Scroll sideways to view every column

Star Motor Accident Claims Annuity Deposit (MACAD) — published terms
ParameterPublished detail
Account typeMotor Accident Claims Annuity (Term) Deposit Account, opened for court-awarded motor-accident claim amounts.
Minimum annuity / amountMinimum monthly annuity ₹1,000; the page does not state a maximum deposit amount.
TenureNormally 36–120 months. A period below 36 months follows normal fixed-deposit treatment; a court direction may specify a longer period.
Monthly payoutEquated monthly instalments comprise principal and interest and are credited to the claimant's savings account after applicable tax deduction.
Interest ratePrevailing Bank of India term-deposit rate for the selected tenure; the page does not publish a separate numeric rate.
Premature closure / lump sumPremature closure or a part lump-sum payment requires court permission; the page states no premature-closure penalty.
Cheque book / debit cardThe bank endorses on the passbook that no cheque book or debit card has been issued and will not be issued without court permission.
Nomination / controlOperation and nomination follow the court order and applicable deposit rules; the product is subject to the Bank's term-deposit policy.
Senior-citizen rateNo -specific senior-citizen or super-senior add-on is published on the product page or in the applicable rate sheet.
Star — Bank of India · Amount; Period; Monthly Annuity; Rate of Interest; Premature Payment; passbook and court-permission conditions · accessed 31 Aug 2026Open official source ↗

More from Bank of India

Related products

Capital Gains Account Scheme, 1988

Bank of India lists the Capital Gains Account Scheme, 1988 in its term-deposit catalogue for eligible taxpayers.

View product

Fixed / Short Term Deposit

Bank of India’s fixed and short-term deposit facility, with separate treatment for deposits repayable within six months and longer fixed deposits.

View product

ImageHarit Jama Yojana (Green Deposits Scheme)

A cumulative green term deposit supporting eligible sustainability projects, published at 6.85% p.a. for 999 days from 1 June 2026.

View product

Non-callable Deposit

A premium-rate Bank of India term deposit with no ordinary premature closure and a published large-deposit threshold.

View product