Bank of Maharashtra

4.5
A nationalised bank, Bank of Maharashtra is owned by the Indian government's Ministry of Finance. By March 2022, the bank had 2022 branches around the nation and 29 million customers. In the state of Maharashtra, it boasts the broadest network of branches of any nationalised bank.

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Loans offered by Bank of Maharashtra

Bank of Maharashtra LoansInterest RateProcessing FeeLoan Amount/Tenure

Bank of Maharashtra Personal Loan

10%

1% of loan amount

Up to ₹20L

Tenure(Up to 7 Years)

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Bank of Maharashtra Home Loan

8.5%

1% of loan amount

-

Tenure(1 - 5 Years)

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Features and Benefits of Bank of Maharashtra

Bank of Maharashtra incorporates various qualities designed to benefit the customers. Some of the salient features and benefits of the Bank of Maharashtra are as follows:

  • Bank of Maharashtra offers a wide variety of loan products that cater to the needs of a diverse customer base.
  • The application procedure and product purchases from the Bank are easy and hassle-free, ensuring a quick response to its applicants.
  • The Bank has established several mobile applications and net banking facilities, where customers can avail of the products and services.
  • The Bank offers its customers a diverse assortment of deposit schemes that ensure lucrative returns.
  • The customers are offered low EMI options on loan products and attractive interest rates on deposit schemes.

Overview of Bank of Maharashtra

Due to Maharashtra's economic and strategic significance, various lending institutions have played an instrumental role in efficiently carrying out various developmental activities. These banking activities have contributed to much of the success of the state. Initially known as the Bank of Bombay, the Bank of Maharashtra came into existence on September 16, 1935. That came in the wake of the first World War, where several banks suffered due to the great depression. The agreement and memorandum were signed with various dignitaries, including professor V G Kale, D K Sathe, and many more.

The Bank of Maharashtra aims to stand tall in the global community while providing financial services to individuals and businesses with state-of-the-art technology. Their core motto incorporates the mobilisation of money, the modernisation of methods, and staff motivation. The Bank of Maharashtra is constantly involved in developing its products while aiming to provide quick and efficient solutions to its customers' needs. They have various financial products that provide solutions to an array of customer bases.

Services Offered by Bank of Maharashtra

The rapid technological advancement has enabled the Bank of Maharashtra to devise a myriad of services that not only aims to accentuate the user experience by streamlining the facilitation of banking facilities for the customers’ benefit. Here are some of the major services offered by the Bank of Maharashtra.

  • Internet Banking - Customers can now avail of the provision to perform various banking transactions from the comfort of their homes. Internet banking allows users to transfer funds to their own and third-party accounts, check balances, tax and bill payments, obtain mini statements, stop the processing of cheque payments, get information about products and services, and much more.
  • MahaMobile Banking Application - The mobile application services have enabled users to facilitate banking transactions from their smartphones. The application is safe, secure, and easy to use owing to its straightforward interface.
  • Miscellaneous Services - Some other services that the Bank offers include the Maha UPI, e-SBTR, Personal-Digital Banking, Debit cards, BoM Credit Cards, E-gadgets, Digital Signage System, Bharat Bill Payment Service, BHIM Aadhaar Pay, NETC-FASTag, and WhatsApp Banking.

Bank of Maharashtra Contact Details

Bank of Maharashtra is constantly bent on providing top-notch customer service with minimal delays. To enable the same, the Bank of Maharashtra provides various means to get customers in touch, including calling services, email assistance, and so on. Here is how one can get in touch with the Bank of Maharashtra.

  • Toll-free Number - 1800 233 4526 / 1800 102 2636 Landline Contact Number - 020 26104400 / 020 48527200 Alternative Contact Number - 020 27008666
  • Email address - atmclaim@mahabank.co.in
  • 24/7 customer query helpline number - 1800 233 4526
  • Email service for Complaints and queries - hocomplaints@mahabank.co.in cmcustomerservice@mahabank.co.in
  • Credit card-related queries - 18601801290
  • Head office address - Bank of Maharashtra, Head Office, Lokmangal, 1501, Shivajinagar Pune, 411005

FAQs

From refinancing to reducing your interest, we have the answers right here.

Has the Bank of Maharashtra merged with the Bank of India?

12 PSU banks, including Bank of India and Bank of Maharashtra, were in talks for a merger. However, the Bank of Maharashtra remains independent and a viable candidate for being privatised.

Which type of Bank is the Bank of Maharashtra?

The Bank of Maharashtra is one of the most sought-after and renowned public sector banks in the country.

Is the Bank of Maharashtra a private bank?

Bank of Maharashtra is a potential candidate for being privatised. However, currently, the bank of Maharashtra is a public sector bank.

Is the Bank of Maharashtra good?

The Bank of Maharashtra has been since 1935, and has developed its customer base and service quality over the years. The Bank is consistently providing quality services and innovation regarding its financial products.

What is the interest rate of the Bank of Maharashtra?

Bank of Maharashtra has an array of financial products and services. Their savings account is currently set at a starting rate of 2.75% per annum. Moreover, term deposits are being offered at a range of 2.75% to 5.40%.

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