Bank of Maharashtra Salary Account – Features, Benefits & Eligibility

Key Insights
 

1. Bank of Maharashtra provides attractive benefits, including a loan of up to 5 times your salary for salary account holders.
    
2. Bank of Maharashtra offers 3.15% annual interest on your salary account.
    
3. You can open a salary account online or offline with Bank of Maharashtra.
    

Bank of Maharashtra provides a salary account to customers. In that you don’t need to maintain a minimum balance, 

You don’t need to pay any fees for the Bank of Maharashtra Salary Account.

All employees of the central/state government, private sector employees, and all PSUs having a salary agreement with the Bank of Maharashtra salary account

But if you are doing a part-time job, you are not eligible for this account.

Types of Bank of Maharashtra Salary Account

There are two types of salary accounts at the Bank of Maharashtra, which are useful to every customer because there are zero balance maintenance charges.

Here is the list of the Bank of Maharashtra Salary Account.
 

These are salary accounts, which are provided by the Bank of Maharashtra to customers.

Bonus Tip: If you want to apply to the MahaBank Salary Account Schemes, then click here.

Key Features and Benefits of Bank of Maharashtra Salary Account

Bank of Maharashtra offers several features that help you in your daily life. You can apply online for the salary account through the Bank of Maharashtra Website.

Here is a list of the features of the Bank of Maharashtra salary account.
 

These features are provided by the Bank of Maharashtra for customers with salary accounts.

Bank of Maharashtra Salary Account Interest Rates

Bank of Maharashtra offers a zero-balance salary account with various features, and you can earn 3.15% per year.

Let’s understand with an example.

My friend Dev has a salary account in the Bank of Maharashtra. He has ₹1,00,000 in his salary account, so he received ₹3,150 in his savings after completing 12 months with Bank of Maharashtra.

Bonus Tip: If you want to open a Bank of Maharashtra salary account, then your minimum salary must be at least ₹25,000, whether you are from Maharashtra or some other state.

Bank of Maharashtra Salary Account Eligibility Criteria

There are specific eligibility criteria for opening a salary account with Bank of Maharashtra.

Here is the list of eligibility criteria for the Bank of Maharashtra salary account.
 

• You must have served a minimum of 1 year as an employee.
   
• You must be at least 18 years old.
   
• Defence/security/police department employees are eligible for a Bank of Maharashtra Salary account.

These are the eligibility criteria for the Bank of Maharashtra salary account.

Required Documents for Bank of Maharashtra Bank Salary Account

There are some documents you need to submit when opening a Bank of Maharashtra salary account.

Here is the list of documents required by the Bank of Maharashtra for the salary account.
 

1. Proof of Identity: One of the following:
    

• Passport
   
• Driving License
   
• Voter's ID Card
   
• Aadhaar Card (from UIDAI)
   
• PAN card (or Form No. 60)
   

2. 2 passport-size photos
    
3. Proof of job: Salary slips.

These are the documents you need to submit for the Bank of Maharashtra salary account.

How to Open a Bank of Maharashtra Salary Account

You can open a salary account with Bank of Maharashtra through both offline and online processes.

Here is the online and offline process of the Bank of Maharashtra salary account.

Online process 
 

• Search Bank of Maharashtra salary account open first link.
   
• Then you will enter the new page, scroll down, and you can see the Apply Now option. Click here.
   
• Then you will enter the new page and fill in all the details as you see fit.
   
• Wait for the approval.
   

Offline Process
 

• Visit the Bank of Maharashtra branch.
   
• Request to open a salary account in the Bank of Maharashtra.
   
• Bank of Maharashtra Banker will help you open a salary account.
   
• Submit the necessary documents for the Bank of Maharashtra salary account.

These are the processes you can use to open a Bank of Maharashtra salary account.

Difference Between Bank of Maharashtra Salary Account and Savings Account

There are some key differences between the Bank of Maharashtra Salary Account and the Savings Account.

Here is the key difference.
 

These are the primary key differences between a salary account and a savings account.

Bank of Maharashtra Salary Account Customer Care

If you want to open a salary account with Bank of Maharashtra, you can call 1800-233-4516/1800-102-2636. 

• You can make a missed call to receive a mini statement for the Bank of Maharashtra account 7287888886.
   
• You can make a missed call to receive a balance inquiry for the Bank of Maharashtra account 9833335555.

These are numbers you can use if you want to set up a Bank of Maharashtra salary account.

Conclusion

The Bank of Maharashtra offers an overdraft facility that you can use in an emergency. The Bank of Maharashtra offers exciting features that help you grow your money with zero effort. You can apply online or offline for a Bank of Maharashtra Salary Account. 

FAQS

Can I get an overdraft (OD) on a home loan, or only on a personal loan? What's the interest rate?

Generally, the Bank of Maharashtra offers personal loans, not home loans, but you can apply for a home loan under the Bank's policy.

What is a zero balance account in the Bank of Maharashtra?

The Bank of Maharashtra has a Purple Savings Account that lets you keep a zero balance. You do not need to maintain any minimum amount in this account.

What if I do not maintain a minimum balance in the Bank of Maharashtra?

If you do not keep the required minimum balance in your Bank of Maharashtra savings account, the bank will charge you a penalty.

Is the Bank of Maharashtra private or government?

The Bank of Maharashtra is a government-owned public sector bank based in Pune, Maharashtra.
 

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