The essential task of a Brain-Computer Interface (BCI) is to extract the motor imagery features from Electro-Encephalogram (EEG) signals for classifying the thought process. It is necessary to analyse these obtained signals in both the time domain and frequency domains. It is observed that the combination of multiple algorithms increases the performance of the feature extraction process. This paper identifies combinations that have not been attempted previously and improves the accuracy of the overall process, although other authors implemented different combinations of the techniques. The focus is given more on the feature extraction process and frequency bands, which are user-specific and subject-specific frequency bands. In both time and frequency domains, after analysing EEG signals with the time domain parameter, we select the frequency band and the timing while using the Fisher ratio of the time domain parameter (TDP). We used Fisher discriminant analysis (FDA)-type F-score to simultaneously select the frequency band and time segment for multi-class classification. We extracted subject-specific TDP features from the training trials to train the classifier when optimal time-frequency areas were selected for each subject. In this paper, various methods are explored for obtaining the features, which are Time Domain Parameters (TDP), Fast Fourier Transform (FFT), Principal Component Analysis (PCA), R2, Fast Correlation Based Filter (FCBF), Empirical Mode Decomposition (EMD), and Intrinsic time-scale decomposition (ITD). After the extraction process, PCA is used for dimensionality reduction. An efficient result was obtained with the combination of TDP, FFT, and PCA. We used the multi-class Fisher’s linear discriminant analysis (LDA) as the classifier, which was in line with the FDA-type F-score. It is observed that the combination of feature extraction techniques to the frequency bands that were selected by the Fisher ratio and FDA type F-score along with Fisher’s LDA classifier had higher accuracy than the results obtained other researches. A kappa coefficient accuracy of 0.64 is obtained for the proposed technique. Our method leads to better classification performance when compared to state-of-the-art methods. The novelty of the approach is based on the combination of frequency bands and two feature extraction methods.