Bank of Maharashtra

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Bank of Maharashtra, one of the leading banks in India, has its headquarter located in Pune. Registered on September 16, 1935 by Prof. V. G. Kale and late Mr. D. K. Sathe, Bank of Maharashtra started its operation on February 8, 1936 with a mere authorized capital of ` 10 lakhs and issued capital of ` 5 lakhs. The bank was established with a goal to meet the banking needs of the common people. Bank of Maharashtra did reasonably well in quick period of time. The deposits crossed ` 1-crore mark within the year 1945. The bank also got listed on the Bombay Stock Exchange in 1958. Currently, Bank of Maharashtra has got an extensive network of 1444 branches with 345 ATMs, and 902 CBS branches. In 2009, it had a business turnover of ` 90,000 crore.

Products & Services

Bank of Maharashtra offers a range of financial products and services to its customers. Following are the products and services of Bank of Maharashtra.
  • Savings Deposits
    • Mahabank – Yuva Yojana
    • Mahabank Lok Bachat Yojana
    • Mahabank – Swasthya Yojana
    • NRI Ordinary Account
    • NRI External Account
  • Current Deposits
    • Mahabank – Pearl & Sapphire
  • Term Deposits
    • Mahabank – Sulabh Jama Yojana
    • Monthly Interest Deposit Scheme
    • Mahabank – Sheetal Jama Yojana
    • Mahabank – Trust Deposit Scheme
    • FCNR Account
    • Cumulative Deposit Scheme (CDR)
    • Quarterly Interest Deposit Scheme
    • Mixie Deposit Scheme
    • Mahasaraswati Scheme

Bank of Maharashtra Loan

  • Educational Loans
  • Loans for Corporates
  • Loans for Exporters
  • Loans for Professionals
  • Loans for Agriculturists
  • Loans for Individuals
  • Housing Finance Scheme
  • Mahabank Platinum Housing Loans: Festive Offer
  • Mahabank Adhar Scheme
  • Mahabank Gold Card Scheme for Exporters
  • Mahabank Salary Gain Scheme
  • Mahabank Vehicle Loan Scheme
  • Mahabank Renewable Energy Equipments
  • Mahabank Realty Finance
  • Personal Loans
  • Mahabank Solar Home Systems
  • Mahabank Consumer Loan Scheme

Other Services

  • ATM Services
  • Demat Services
  • Bancassurance
  • Credit Card
  • Mahabill Pay
  • Mahabank Insta Remit Scheme
  • NEFT
  • Online Trading

Financial Performance of Maharashtra Bank

Bank of Maharashtra registered a net profit of ` 375.17 crore during the financial year ended on March 31, 2009, comparing to a net profit of ` 328.39 crore in 2007-08. It also had a return on assets of 0.72% during 2008-09.

The Landmarks
  • Bank of Maharashtra was nationalized in 1963.
  • It established its first Regional Rural Bank (RRB) – ‘Marathwada Gramin Bank’ in 1978.
  • The business crossed ` 1,000-crore mark in 1979.
  • 500th branch was set up in 1980.
  • ‘Aurangabad Jalna Gramin Bank’, the second RRB came up in 1981.
  • ‘Thane Gramin Bank’, the third RRB came up in 1986.
  • 1000th branch was inaugurated at Indira Vasahat in 1987.
  • Initial Public Offer (IPO) was released in 2004.
  • Launched ATM-cum-International Debit Card in 2006. The first Core Banking Branch (CBS) also rolled out in the same year.

Bank of Maharashtra Address and Contact Details

Bank of Maharashtra
Head Office
‘Lokmangal’ 1501, Shivajinagar
Pune – 411 005, INDIA
Ph: +91-20-2553-6533
Fax: +91-20-2553-3246
Official Web:

Last Updated on 4/20/2015