A public sector bank with nearly 2000 branches in the country, Bank of Maharashtra was set up in Pune in the year 1935. It offers an array of products like private banking, investment banking, commercial banking, mortgage, retail banking, and credit cards alongside other products. Bank of Maharashtra offers the co-branded BoM SBI credit card to its customers.
Mahabank Savings Bank Scheme: This savings account can be opened by Indian residents individually or jointly. A minor can also open this account jointly with a parent or a legal guardian. Apart from the general documents required to open a bank account, an individual can also open an account through an existing account holder with the bank who serves as an "introducer". The introducer needs to comply with the complete KYC procedure and must also have an operative bank account for more than six months with the bank.
Mahabank Yuva Yojana: This account is meant for children aged between the age of 10 and 18 years. The object of this account is to impart and inculcate the habit of saving money in children.
Mahabank Lok Bachat Yojana: This account is particularly designed for people who have a very low income and those hailing from the BPL (below poverty line) category. Any minor from the BPL category can open this type of account as well.
Mahabank Royal Savings Account: This is a standard savings account with a zero balance facility. Resident Indians can open this type of account individually or jointly. Similarly registered Institutions, Associations, Clubs, Societies, Trusts, etc. can also open this account.
Mahabank Purple Savings Account: This savings account can be opened by resident Indians, either individually or as a joint account. The account offers zero balance facility and also assures special personal assistance to customers by a relationship manager.
These documents are required to open a Savings Account with the Bank of Maharashtra:
For joint accounts, all these documents from both the applicants will be required, along with a proof of the relationship between both the account holders.
Ans: The following are the different savings account offered by Bank of Maharashtra:
Ans. There is no minimum balance requirement for this account. It can be opened at Re. 1.
Ans. It is 4% per annum.
Ans. HUFs must submit valid address and identity proof along with PAN Card or Form 60 or Declaration from the 'Karta' of the family.