BOM SO - SPLessons

BOM Products and Services

SPLessons 5 Steps, 3 Clicks
5 Steps - 3 Clicks

BOM Products and Services

BOM Products and Services


shape Introduction

Bank of Maharastra is a public sector bank providing banking products and capital market services to its customers. It was founded in the year 1935 and is head-quartered in Pune, India. BOM Products and Services are mainly bank accounts of various types, loans, credit cards, etc. which are made available to customers through a network of 1868 branches.

Tagline: ” One Family One Bank ”

Vision: To be a vibrant, forward looking, techno-savvy, customer centric bank serving diverse sections of the society, enhancing shareholders’ and employees’ value while moving towards global presence.

Logo:


The Deepmal
With its many lights rising to greater heights.

The Pillar
Our institution- Symbolising strength.

The Diyas
Our Branches- Symbolising service.

The 3 M’s symbolising
Mobilisation of Money
Modernisation of Methods and
Motivation of Staff.


shape A

Product / Service: ASBA PLUS

Description / Features:

Eligible Customers: Corporate Houses/ Institutional Investors such as LIC/GIC/Mutual Fund Companies.

Minimum amount of deposit; Rs. 50 Lakhs and above.

At the Time of ASBA Application:

✶The Sheetal deposit/Short Term Deposit shall be opened with the Branch where the facility is availed with, either equivalent or more than the application amount in the IPO in case there is no current account.

✶The Current Account is opened with the Branch wherein the Funds are deposited by the Corporate/Institutions which in turn shall be converted into STDR/Sheetal for Maturity period of Choice with minimum unit of Rs.1 instead of Rs.1000/- .

✶The Amount to the extent of application amount is blocked in the Sheetal/STDR.

✶Te branches to obtain the standing instruction from the customer to break the required unit of Sheetal Deposit to the extent of allotment amount in case of allotment of Shares in the Sheetal Deposit/STDR Form.

✶Sheetal Deposit/STDR to be opened in the Units of Rs.1 instead of Rs.1000/-(at present).

✶The blocking and unblocking of funds in Deposit Account is done through Trickle Feed in ASBA Module.

At the Time of allotment of Share:

For the customers having Current Account with the branch.

✶The system to check the balance in the Current/SB Account, In case of availability of the sufficient balance in the account the system to debit the Current/SB account and the lien on Sheetal/STDR gets auto released.

✶In case of Non availability/Insufficient Funds in the account, the system to break the number of units from the Sheetal Deposit/STDR equivalent to the Share Allotment amount/Difference in the available balance in the account and the Share allotment account.

✶The remaining units in the Sheetal Deposit if any may continue till maturity.

For the Customers not having the Current account with the branch.

✶The system to break the Sheetal deposit /Short Term Deposit (STDR) units, which is equivalent to Number of shares allotted X application money. The units to be broken to the extent of the allotment amount. For the convenience in breaking the exact amount the Sheetal deposit is opened with minimum units of Rs.1.

✶The branches to route the amount from Sheetal deposit to the existing common Current Account opened for administrative purpose in the branch.

✶The remaining units in the Sheetal Deposit if any may continue till maturity.

Penalty on Premature withdrawal:

There is no penalty on the premature withdrawal of the FD.

Period of FD:
The period of FD will be 15 Days and above.

Rate of Interest on FD:

✶The Rate of Interest on Deposits will be offered as special rate from time to time to be decided by the Treasury Department.

✶In case the allotment takes place prior to 15 days, the broken unit will earn the interest equivalent to the no days the units were run without prepayment penalty on premature closure. The remaining units will continue to complete the term and earn the same rate of Interest.

✶On Maturity the Sheetal Deposit/ STDR will be closed and the maturity proceeds will be paid by DD or RTGS to the Beneficiary account. In case of existing Current Account amount will be credited to Current Account.

✶The prospective customer may open Current Account for Receiving the Credit.

Opening of the Current Account Linked to the Sheetal Deposit /Short Term Deposit:

The opening of current account though not mandatory for “Maha ASBA Plus” subject to compliance of KYC.

Product / Service: Atal Pension Yojana

Description / Features:

✶It is a fixed pension scheme (different from NPS Lite in which pension amount was not fixed) for all the Saving account holders of the Bank who are not covered under any social benefit scheme. Eligible age group 18 to 40 Years old.

✶Govt. will contribute Rs. 1000/- every Year for the next five years. The contribution from the subscribers will be based on fixed pension amount opted for and age. For e.g.to get a fixed monthly pension of Rs. 1000/- per month and Rs. 5000/- per month , the subscribers has to contribute monthly Rs. 42/- and Rs. 210/- if he joins at the age of 18 Year. For the same pension level, the contribution amount will be Rs. 291/- and Rs. 1454/- if the subscribers joinat the age of 40 Years.

Click Here – For Subscriber Registration Form

Product / Service: ATM Services

Description / Features:

✶Mahabank Visa Debit card gives freedom to the Customer to access Customer savings at any Visa accredited Merchant Establishment or ATM.

✶This card allows Customer to purchase goods at retail outlets and withdraw cash from ATMs in India and abroad.

✶Direct on line debit to Customer savings account.

✶Round the clock cash withdrawal facility up to Rs 20000/-

✶And there is No joining fees.

✶It is Completely safe and secure.

Guidelines for the card holders:

✶The maximum limit for cash withdrawal is fixed at Rs.10,000/- for other Bank card holders/customers at this Mahabank ATMs.

✶The maximum limit for cash withdrawal using Mahabank ATM card holders on other Bank ATMs is also restricted to Rs.10,000/-

✶The free cash withdrawal transactions on other Bank ATMs are restricted to five per calendar month for Mahabank ATM card holders.

✶After five free cash withdrawal transactions from saving accounts through other Bank ATMs, each cash withdrawal transaction is chargeable @Rs.20/- per cash withdrawal transaction.

✶All cash withdrawal transactions from current accounts through other Bank ATMs are chargeable @Rs.20/- per cash withdrawal.

✶Annual Maintenance Fee for ATM cum Debit Card will be charged Rs. 100 plus Service Tax from second year onwards (w.e.f. 01-03-2014).

shape B

Product / Service: Bancassurance

Description / Features:

✶With the commitment to customers’ convenience, the Bank has tied up with insurance companies so that customers can avail of insurance service at the branches.

✶We are the corporate agent of the Life Insurance Corporation of India for distribution of their life insurance products.

✶In non-life sector, our Bank is the corporate agent of United Insurance company for the distribution of their non life insurance products.

✶Both our insurance partners offer a wide range of insurance products, which are available at our branches as a result of our Banassuanace tie ups.

✶This is another value addition for our customers in their banking relationship with us.

shape C

Product / Service: Capital Market Application (ASBA)

Description / Features:

An Investor friendly way to apply for Primary markets & Keep earning interest without parting your money until stocks are allotted

Click Here – For List of Designated Branches for Accepting ASBA Application

✶An Investor friendly way to apply for Primary markets & Keep earning interest without parting customer money until stocks are allotted

What is ASBA:

✶ASBA means “Application Supported by Blocked Amount”, enables investors to apply for IPOs / FPOs and rights issues without making a payment. Instead, the amount is blocked in investors’ own account and only an amount proportionate to the shares allotted goes out when allotment is finalized.

✶It is a supplementary process of applying in initial public offers (IPO), right issues and follow on public offers (FPO) made through book building route and co-exists with the current process of using cheque as a mode of payment and submitting applications.

✶Bank is providing this value added service free of costs for issues with book building at BSE.

Eligibility of Investors:

✶An application can have up to three bid options & it can be revised also. The lien will be marked on the highest value of the three bids.

✶Bids at cut-off price allowed only if total application Amt is less than or equal to Rs. 2,00,000 for investor category of Individual, Employee, Share holders.

✶One account can be blocked for maximum five applications in an IPO.

✶Revision and cancellation of bids for retail individual investors are permitted till the issue closure date and time. However for investors other than Retail, the revision is not permitted on the last day beyond 4 P.M.

Such investors are referred as “ASBA investors”, at the time of submitting ASBA application the investors should take utmost care to provide the correct –

✶PAN

✶DP ID

✶Client ID

✶Bid Quantity

✶11 digits Bank Account number (Saving / Current)

Benefits of ASBA to Investors:

✶The investor need not pay the application money by cheque rather block his/her bank account to the extent of the application money, thus continue to earn interest on application money.

✶The investor does not have to bother about refunds, as in ASBA only an amount proportionate to the securities allotted is taken from the bank account when his/her application is selected for allotment after the basis of allotment is finalized.

✶The application form is simpler.

✶The investor deals with the known intermediary i.e. his/her own bank.

Categories of Investors in ASBA
S.No Investor (client) Category
1 FIIs other than Individuals or corporate
2 Mutual Funds
3 Insurance Company
4 Banks and FIs
5 Other QIBs
6 Bodies Corporate
7 NII – others (All entities other than QIBs, Bodies Corporate and Individuals)
8 RIIs (Individuals applying upto Rs 1 lakhs) as well as individuals/HUFs, Trusts etc. applying for not more than Rs 1 lakhs)
9 Employees
10 Shareholders

Product / Service: Credit Card

Description / Features:

Bank of Maharashtra – SBI Credit Card

“A CREDIT CARD CUSTOMER CAN TRUST TWICE OVER”

Get the power in customer pocket with Bank of Maharashtra – SBI co-branded Credit Card. It will bridge the gap between wanting and having. Bank of Maharashtra in association with SBI card offers Globally accepted credit card – exclusively to its customers.

For More Details :

Click Here – For Bank of Maharashtra – SBI Credit Card – Gold & Others
Click Here – For Bank of Maharashtra – SBI Credit card – Platinum

shape D

Product / Service: Debit Card

Description / Features:

Bank of Maharashtra offers various products and services to their customers. Debit Cards are one of the products of Bank of Maharashtra. The Debit Card offered by Bank of Maharashtra is named as Mahabank Insta International Visa Debit Card. This card is offered to all the eligible saving and current account holders in Bank of Maharashtra.

Click Here – For Rupay Debit Card Offers

Product / Service: DEMAT Services

Description / Features:

Bank of Maharashtra is a Depository Participant (DP) of CDSL since 1999.

✶Dematerialisation (conversion into electronic form) of securities in physical form.

✶Rematerialisation (conversion to physical form) of Securities held in demat account.

✶Effecting deliveries from demat accounts.

✶Getting credits into the demat accounts when transferred from other accounts.

✶Modification of accounts for change of address / Bank account details / nominee / power of attorney.

✶Pledge / unpledge of securities, where the securities remain in the account of pledgor but are blocked in favour of pledgee. For pledge both pledgor & pledgee must have accounts in CDSL, though with different DPs.

✶Freeze / unfreeze of Account or specific securities.

Click Here – For complete information of DEMAT Services

Product / Service: Distribution of Mutual Funds

Description / Features:

Bank of Maharashtra offers scope for investment in Mutual Fund

✶At present bank is in association with 16 Mutual Fund companies.

✶The following Mutual Funds and prominent schemes of respective funds are shortlisted as per their track record and performance in the market.

S.No Name of the Mutual Fund Scheme Name
1 SBI Mutual Fund Magnum Equity Fund
Magnum Secured Umbrella Fund
2 UTI Mutual Fund UTI Dividend Fund
UTI Opportunity Fund
UTI Opportunity Fund
3 Franklin Templeton Mutual Fund Franklin India Blue-chip Fund
Franklin India Flexi Cap Fund
FT India Dynamic PE Ratio Fund of Funds
4 HDFC Mutual Fund HDFC Equity Fund
HDFC Mid Cap opportunities Fund
HDFC Tax Saver
5 Birla Sun life Mutual Fund Birla Sun Life Frontline Equity
Birla Sun life Dividend Plus
Birla Sun life 95
6 Reliance MF Reliance Vision Fund
Reliance Equity Opportunities Fund
Reliance Growth Fund
7 LIC Nomura Mutual Fund ULIS- an open end –ended insurance linked tax savings scheme
8 Reliance Mutual Fund Reliance Equity Opportunities Fund, Reliance Regular Saving Fund and Reliance Tax Saver Fund (ELSS)


The Marketing Officer/Planning Officer at Zonal Offices is the Nodal Officer for selling Mutual Fund. In case, any help/detail require,customer can contact Alternate Business Channel Dept. Head Office, on landline number 020-25520733.

Product / Service: Door Step Banking

Description / Features:

✶Bank of Maharashtra is offering a convenience of Banking at your Doorstep.

✶The Door Step Banking service is extended from the designated branch only.

✶Customers those with proper KYC procedures can avail Door Step Banking Services.

✶Customers have to pre-register for this scheme & have to sign an agreement with the bank for availing this Service.

a. Services will be offered to

Corporate Customers / Government Departments/ PSUs, Individual Customers / Natural persons etc.

b. Types of Services available:

I) Pick up of cash & Instruments.

II) Pick up of instrument.

III) Delivery of cash at Door Step.

Following Two Types of Option will be available for Cash Pick –up & Delivery.

a) On Call Service option:
The customer to inform the bank as per specific requirement.

b) Beat Pick up Service option:
The customer to register for daily service.

Benefits to the Customers

✶Customer can avail service from Office/Home

✶Dedicated Service agency for cash pick up & delivery of cash

✶Highly secured & safe Service

✶Nominal Bank service Charges

shape E

Product / Service: E Payment Taxes

Description / Features:

E – Payment of Taxes

✶E-Payment of taxes is online payment of Tax using customer BOM Account through Bank of Maharashtra’s Mahaconnect i.e. internet banking facility.

✶Using ePayment facility customer can pay your Service Tax, Excise Duty, Income Tax, TDS, TCS, Wealth Tax, Hotel receipt Tax, VAT / Sales Tax (State of Maharashtra ).

E – Payment Prerequisites

✶customer should have BOM Internet Banking facility i.e. User id and passwords issued by BOM to use Mahaconnect (Internet Banking) facility.

✶customer must be registered with Tax authorities and should have a valid PAN/TAN (for Direct Taxes) or a Assessee Code issued by Excise Dept (for Indirect Taxes).

Click Here – For E-Payment of Direct Taxes

Click Here – For E-Payment of Indirect (Central Excise & Service) Tax

Click Here – For E-Payment of Sales Tax / VAT (Maharashtra State)

Product / Service: e-SBTR

Description / Features:

It is an electronic Secured Bank-Cum Treasury. Receipt (eSBTR), issued by the Officer of the participating bank, on special Government stationery, on payment of Stamp Duty and /or. Registration fee in Virtual Treasury (GRAS).

Click Here – For Easy Steps of e-SBTR

Product / Service: Executors and Trustee Services

Description / Features:

EXECUTOR , TRUSTEE AND ATTORNEY

A successful Banker deals not only with deposits and advances. He deals primarily with persons and should be closely associated with the clients affairs as a friend & guide. He should take active part in welfare of the community and be a part of the society he serves.

In some measure Bank Of Maharashtra has been fulfilling this objective through THE MAHARASHTRA EXECUTOR & TRUSTEE CO. LTD started in 1946 as a fully owned subsidiary.

Customer can entrust the work as an Executor & or Trustee of Customers will, private trust or Public Trust or as Attorney to manage Customer property.

Customer Trustee Company offers Customer the following range of trusted services.

Click Here – For Detailed information

shape G

Product / Service: Govt Business

Description / Features:

✶The work of collection of Direct Taxes was introduced in BOM from 01-10-1998. At present, BOM 179 Branches are designated for the Scheme.

✶Under the Scheme, the amount collected by the Designated Branch, on a day is to be transmitted to respective Nodal Branch on the same day. The Scrolls are to be prepared and sent to Nodal Branch, alongwith Challan on the same day, through Courier/Messenger.

✶At Nodal Branch, the consolidation of the data transmitted by various Designated Branches is done on day to day basis. On receipt of Scrolls and Challans, It has to be tallied with the Data transmitted by the Collecting Branches. Duly consolidated data is to be transmitted to our Link cell viz. GBB, Nagpur. Duly checked and tallied Scrolls alongwith Challans are delivered to the respective Zonal Accounts Officer, CBDT. At present, there are 9 Nodal Branches. At our Link Branch, after consolidation of the data received from all the Nodal Branches, consolidated data of Bank as a whole, is transmitted to Tax Information Network (TIN) with C.A.S., R.B.I., Nagpur, followed by digitally signed e-mail, by which fund settlement is done by RBI.

Click Here – For Mahabank – Collection of Direct Taxes (Under C. B. D. T.)

Product / Service: GST

Description / Features:

✶The GST (Goods and Services Tax) module is implemented in bank for the customers/ Non-customers. Bank has integrated with GSTN (Goods & Service Tax Network) and is GST ready.

✶The necessary guidelines for collection of GST have been communicated to all the branches.

✶The GST Collection shall be done in the bank by following modes

1) Over the counter:

The customer will be generating challan from GSTN (Goods and Services Tax Network) website and bringing the hard copy of challan to the branch for making the payment. The branches shall accept the GST challans from customer/non-customers over the counter. There will be three options available to customer:

✶Cash Payment

✶Transfer through Cheque, Demand Draft and Pay order of BoM

✶Clearing through Cheque, Demand Draft and Pay order of other bank

2) Net Banking Customer:

a) Retail Net Banking Customer

✶The registered GST customer will be generating challan from GSTN website and selecting e-payment option

✶After selecting the internet banking option and bank name the redirection will happen to bank of Maharashtra internet banking

✶Post selection of retail or corporate buttons and entering login credentials the user can make payment of GST challan

✶The transaction will be over post selection of account, transaction password and OTP. After financial transaction is over, the redirection to GSTN site is done where final challan status is shown to customer

b) Corporate Net Banking Customer

✶In case of corporate Internet Banking the additional step is that, the transaction will go form maker to checker, as per existing procedure

Click Here – For Frequently Asked Questions



shape M

Product / Service: Mahabank Corporate Supreme Payroll

Description / Features:

Mahabank Corporate Supreme Payroll Scheme: In Below table Given the complete information about Mahabank Corporate Supreme Payroll Scheme.

Name of the Scheme : Mahabank Corporate Supreme Payroll
S.No Features Proposed scheme
1 Who can open account Employees of corporate , Pvt Ltd & Public Ltd. Companies
Employees of institutions
Employees Govt./Semi- Govt. Undertaking
2 Age(minimum) 18 Years
3 Initial Deposit Account can be opened with zero
balance. The initial credit could be by
way of cheque/credit of salary/other
4 Minimum balance required No minimum balance requirement in
the account (Zero Balance Account)
5 Employees strength
(minimum)
20
6 Monthly take away
(Minimum)
Rs. 10,000 / per month
7 Key benefits Earn interest on credit balance account as per saving bank a/c rules.
8 Cheque book facilities Free Personalized Multicity Cheque books with Name Embossed
9 INSTA ATM Cum VISA Debit
Card
Free INSTA ATM Card while
opening of Account.
10 Internet Banking Free Internet Banking Facility
11 Statement of Accounts Email of the Statement of Accounts as per Customers convenience

Product / Service: Mahabank Swasthya Yojna

Description / Features: Below mentioned Eligibility, Agelimit, Sum Insured and Policy period of Mahabank Swasthya Yojna.

Eligibility: All individuals in the age group of 5 years to 65 years are eligible.

Eligibility for Insurance Cover:

Plan A : Primary account holders, spouse + 2 dependant children

Plan B : Primary account holders, spouse + 2 dependant children + Parents

Dependant children means: male child up to 21 years; female child up to 25 years or marriage/employment, whichever is earlier.

Age Limit:

✶5 years to 65 years without medical examination

✶Children between 3 months and 5 years can be covered provided one or both parents are covered concurrently

✶Lifetime renewal can be done provided policy is continuous without any break

✶Grace period of 30 days from the date of expiry of policy is available for renewal of policy

Sum Insured:

✶Minimum Rs 50,000/- and in multiples of Rs 50,000/-; Maximum Rs 5 Lacs

✶Sum insured can be increased by two slabs only on every renewal of policy

✶Sum Insured is on Family Floater Basis

What is Covered:

✶Hospitalisation expensed for medical/surgical treatment arising out of any disease/illness/accident including pre-hospitalisation related expenses up to 30 days and post hospitalization related expenses up to 60 days.

✶Personal Accident Death Cover : Primary account holder: 100% of mediclaim sum insured, spouse: 50%; Child above 12 years : 20%; child up to 12 years: 10%. Personal Accident cover is not available for parents.

Policy Period:

✶12 months

✶Risk to commence from date of debit of premium to primary account holder’s account

Nomination Facility: Available

Income Tax Rebate: Available under Section 80D of Income Tax Act

Cash Less Facility: Available through Third Party Administrator (TPA)

Click Here – For Premium Chart of Mahabank Swasthay Yojna

Click Here – For Terms & Conditions

Click Here – For List of Network Hospitals

Product / Service: MAHAeTRADE (On line Share Trading Facility)

Description / Features:

Bank of Maharashtra in association with,

✶M/s Religare Securities Limited

✶M/s Reliance Securities Limited

✶M/s Ventura Securities Limited

Click Here – For Detailed information of MAHAeTRADE

Product / Service: MPOS

Description / Features:

✶Bank of Maharashtra introduces the facility of M-Pos (Mobile- Point of Sale).

✶The handy, wireless mobile type M-Pos instrument will be provided to the merchants with a minimum annual fee payable at quarterly intervals and adjustable /reimbursable from the transactions.

✶This facility of M-Pos is being provided in tie-up arrangement with M/s. Airpay Payment Services Pvt. Ltd

The overall process:

✶When the merchant(Customer) is registered on the Airpay Lead System the merchant information is captured by Airpay’s call center.

✶Airpay’s call center representative will call the merchant and explain the product and the charges (advance + trxn) to be incurred by him as well as all the documents required by Airpay. As part of the documents, Airpay will also collect an ECS mandate form from the merchant.

✶Airpay’s representative will also communicate the number of days it will take to deliver the POS machine to the merchant.

✶Airpay will request the merchant to pay the full year fees in advance in best case scenario. On a case to case basis, Airpay may allow the merchant to make the payment in 2 parts or in case 4 parts.

✶Airpay’s call center representative will provide the following options to the merchant to collect the advance charges:

1.Online link sent to through emailed or as a sms to their mobile no. Merchant can use Credit card/Debit Card/Net Banking to make this payment.

2. Cash Deposit – Merchant can deposit cash at any of Airpay’s retail partners who do mobile topup.

3. Cheque – Cheque deposit in the branch with name of Merchant and contact details mentioned at the back OR cheque collection when the device is delivered by Airpay’s representative.
Airpay’s local representative will deliver the device to the merchant. He will provide a demo and get a delivery challan signed from the merchant.

✶Once the transactions are started, Airpay will collect all the money on behalf of the merchant from
Rupay & VISA and deposit to the merchant’s current account within T+2 working days.

✶Airpay will deduct its transaction charges before depositing the money into the merchant account.

✶In case the merchant has paid half yearly or quarterly advance fees, Airpay will deduct the next half/quarter fees from the merchant’s transaction payout amount.

✶In case the merchant payout amount is less than the advance fees, Airpay will deduct it from
Merchant’s current account using the ECS mandate.

Benefits to the Merchants (Customers):

Speedy Payment & Cash Management:
By accepting payment through cards, sale proceeds are credited electronically in your account as per the agreed transaction cycle.

Saving of Resources and Quality Time:
Our Acquiring Services results in fewer Cash transactions and saves your efforts and resources in counting, re-counting, storage of Cash and depositing it in the Bank. This allows merchant to spend more time and focus on important things like managing and growing your business.

Customer Stickiness and Increased Sales volume:
The facility of making payments through Cards encourages customers to spend more as they are not constrained by cash on hand. This not only results in customer stickiness but also in increased purchases of higher-margin products as well as specialty items.

Customer Delight:

Getting the facility of making payment through Credit, Debit or pre-paid cards may lead to Customer happiness.

Robust System:

Our robust merchant acquiring services provides quick response and reliable support in case of network outages and POS terminal malfunctioning. This minimizes downtime, thus enhancing productivity and profitability.

Customer can connect or write on the customer care number incase they have queries or issues related to POS device, transaction status etc.

Write us on: bomsupport@airpay.co.in

Call us on : +91-7945925407

Click Here – For APPLY MPOS

Product / Service: Maha Suraksha Payroll Scheme

Description / Features: In Below table Given the complete information about Maha Suraksha Payroll Scheme.

Particulars of Service/ Product Commissioned Officers Personnel below the Rank of Commissioned Officers
Initial Deposit Account can be opened with zero balance. The initial credit could be by way of credit of salary/ dleposit of cheque or other instruments Account can be opened with zero balance. The initial credit could be by way of credit of salary/ deposit of cheque or other instruments
Minimum BalanceRequired No minimum balance required in the account No minimum balance required in the account
Interest on Deposits in theAccount As applicable to normalsavings bank account As applicable to normalsavings bank account
Easy Over draft 4 times of net monthly salaryMax, Rs. 2 lac 3 times of net monthly salaryMax. Rs.1 lac.
Personalised ChequeLeaves Unlimited free leaves 75 free leaves per year
Demand Drafts (DDs) Unlimited Free DDs (if not against cash deposit in the same day) Unlimited Free DDs (if not against cash deposit in the same day)
RTGS/ NEFT Unlimited free remittance Unlimited free remittance
Cash deposit at Non-Home Free at all our branches Free at all our branches
Cash withdrawal through self drawn cheque at Non- Home Branch Free (within daily maximum limit of 50,000/-) Free (within daily maximum limit of 50,000/-)
ATM-cum-Debit Card Free for lifeCash withdrawal limit:50,000/- per day Free for lifeCash withdrawal limit:25,000/- per day
Transactions at Non-BoMATMs in India Free Free
Internet Banking/ PhoneBanking/ SMS Banking Free Free
e-statement of account(monthly) Free Free
Personal AccidentalDeath Insurance Cover 3 lac 2 lac
Credit Card (Bank of Maharashtra & SBI Co- branded Card) Free International Gold Card(no Annual Maintenance Fee) 75% concession in Annual Maintenance Fee of International Gold Card
Concession in Locker Rents for self and immediate family members 30% 25%
Interest concession onRetail Roans such asHome Loan, Auto Loanetc 0.25% less than the rateapplicable to public(subject to minimum of BaseRate) 0.25% less than the rateapplicable to public(subject to minimum of BaseRate)
Concession in margin inhome, auto loans 10% concession s.t. regulatoryguidance 5% concession s.t. regulatoryguidance
Processing Charges onRetail Loans such asHome Loan, Vehicle Loan Full waiver Full waiver
Educational Loans
to wards of defence personnel
Available as per IBA ModelEducation Scheme Available as per IBA ModelEducation Scheme


shape N

Product / Service: New Pension Scheme

Description / Features:

What is New Pension Scheme?

✶It is a pension scheme launched by Government of India.

✶Save today and get monthly pension after the age of 60.

✶Save monthly or yearly as per your Income Structure. No fixed monthly installment.

Who Can Invest?

✶Every Citizen between the ages of 18 to 60 years at the time joining.

What is Swavalamban?

✶Minimum amount Rs.500/ per contribution

✶Minimum Contribution per year Rs. 6000/-

✶Minimum Contributions per year -1

How much to Invest?

✶Incentive offered by Government on self declaration of the subscriber being eligible under the scheme.

✶In case of false declaration provision of refund of benefits with penal Interest.

Under Swavalamban

✶Minimum Subscription amount Rs. 500/-

✶Minimum Contribution per Annum Rs. 1000/-

✶Maximum Contribution per annum Rs. 12000/-

✶Government will contribute Rs. 1000/- per year up to 2013-2014

Investment Option

✶Active Choice : You have option to choose the category

✶Auto Choice: By default the option is selected.

Tax Benefits

✶Amount invested up to 1.00 lacs is eligible for exemption under 80CC

How Pension will be available

✶On attaining age of 60 you will have to invest minimum 40% of Corpus in annuity scheme of the service provider appointed by PFRDA.

✶ASP appointed by PFRDA would be responsible for delivering a regular monthly pension.

shape P

Product / Service: Pradhan Mantri Jeevan Jyoti Bima Yojana

Description / Features:

Prime Minister Jeevan Jyoti Bima Yojana (PMJJBY):

✶Bank has executed MOU with LIC of India on 20.4.2015 to implement this scheme.

✶PMJJBY was announced during Union Budget 2015-16 under which Rs. 2 lakh will be paid in case of death due to any reason, premium of Rs. 330/- + S.T extra per annum( Insurance premium Rs. 289/- + Rs. 30/- for BCs/Corporate/Agent+ Rs. 11/- for Bank as administrative expenses) will be auto debited from the account holder’s account.

✶Eligible age group 18 to 50 Years old.

✶The premium is payable every year on 31st of May and insurance cover will start from 1st June.

PMJJBY Consent – Cum – Declaration Forms:

Click Here – For English

Click Here – For Hindi

Click Here – For Marathi

Click Here – For Claim Form

Product / Service: Pradhan Mantri Suraksha Bima Yojana

Description / Features:

Prime Minister Suraksha Bima Yojana (PMSBY):

✶Bank has executed MOU with UIIC (United India Insurance Co. Ltd.) on 21.4.2015 to implement this scheme.

✶PMSBY was announced during Union Budget 2015-16 under which Rs. 2 lakh will be paid in case of accidental death and total permanent disability. In case of partial disability, the coverage would be to the extent of Rs.1 lakh.

✶Eligible age group 18 to 70 Years old.

✶The premium of Rs. 12/-+ S.T extra per annum (Insurance Premium Rs. 10/- + Rs. 1/- for BCs/Corporate/Agent+ Rs. 1/- for Bank as admin expense) will be auto debited from the account holder’s account. The premium is payable every year on 31st of May and insurance cover will start from 1st June.

PMSBY Consent – Cum – Declaration Forms:

Click Here – For English

Click Here – For Hindi

Click Here – For Claim Form

shape R


Product / Service: RTGS/NEFT

Description / Features:

The Complete name of RTGS is RTGS (Real Time Gross Settlement) and NEFT (National Electronic Funds Transfer)

The RTGS and NEFT facility has been made available for customers to transfer fund from one Bank to another Bank at all Branches of our Bank. The RTGS and NEFT funds transfer facility has also been available for Internet Banking Customers of our Bank.

Click Here – For view details

shape S

Product / Service: Senior Citizen Saving Scheme

Description / Features:

Any depositer may open an account at any designated branch of the bank by making an application in Form A along with the amount of deposit in multiple of one thousand rupees, along with age proof.

Click Here – For Senior Citizen Saving Scheme

Product / Service: Sovereign Gold Bond Scheme 2015-16

Description / Features:

✶The government of India recently launched a Sovereign Gold Scheme to provide an alternate option when it comes to owning gold. This scheme aims to reduce the demand for physical gold, thereby keeping a tab on gold imports and utilising resources effectively. With the Reserve Bank of India issuing these gold bonds, it brings in transparency and trust, providing an avenue wherein people can own gold without having to worry about its storage or safety.

✶In essence, a Sovereign Gold Bond is a government issued security which represents a certain weight of gold. Owning a gold bond of a certain weight is akin to owning that quantity of gold, albeit in a different form.

Below given the important liks for Sovereign Gold Bond Scheme:

Click Here – For Form A – Application Form

Click Here – For Form B – Acknowledgement

Click Here – For Form C – Holding Certificate

Click Here – For Form D – Nomination

Click Here – For Form E – Cancellation of Nomination

Click Here – For Form F – Transfer of Stock Certificate

Click Here – For SGB 2016 Series IV

Click Here – For Frequently Asked Questions

Product / Service: Sukanya Samriddhi Yojana

Description / Features:

✶Sukanya Samriddhi Yojana (SSY) is a small deposit scheme for the girl child launched as a part of the ‘Beti Bachao Beti Padhao’ campaign. It is currently 8.1 per cent and provides income-tax benefit.

✶A Sukanya Samriddhi Account can be opened any time after the birth of a girl till she turns 10, with a minimum deposit of Rs 1,000. A maximum of Rs 1.5 lakh can be deposited during the ongoing financial year.

✶The account can be opened in any post office or authorised branches of commercial banks.

✶The account will remain operative for 21 years from the date of its opening or till the marriage of the girl after she turns 18.

✶To meet the requirement of her higher education expenses, partial withdrawal of 50 per cent of the balance is allowed after she turns 18.

Click Here – For Detailed information of Sukanya Samriddhi Yojana


shape W

Product / Service: Western Union Money Transfer facitity

Description / Features:

Western Union Money Transfer Facility: For foreign inward Remittance

✶Bank has a tie up arrangement with M/s. Weizmann Forex Ltd. for facilitating the services of remittance of foreign exchange to the customers through Western Union Money Transfer business since October 2005.

✶Western Union Money Transfer (WUMT) is a safe, reliable, legal and convenient way of transferring and receiving money worldwide (in India we can only receive inward remittance, as RBI does not allow outward remittance). It is a legal method of receiving money in India as per RBI guidelines.

✶As all of customers know the Western Union Money Transfer system is a Net-based system, which provides on line information about any money transfer affected from overseas location. The beneficiary can get payment of the remittance after establishing the identity and other formalities from any of the outlets of Western Union.

Process of Application:

Under WUMT system, the remitter goes to the Western Union outlet at the sending location (overseas), completes the remittance formalities, hand over money for remittance and gets the Money Transfer Control Number (MTCN). The MTCN (number) is informed by him to the beneficiary in India, who visits Western Union’s authorized agent i.e. Bom Branch for payment.

Money Transfer Procedure :

There are two stages for transfer of money to complete the cycle. The first stage is at the remitter’s place, a function that is outside the scope of Western Union agents in India. No outward remittances whatsoever, trade and non-individual remittances are allowed by WU agents as per the RBI directives. Therefore bank / designated branches are concerned with the processing of inward remittances only which are in the shape of non-trade transactions and also on ‘individual to individual’ basis. The designated branches role is thus confined to “receive country side”.

Send country Side Receive country Side
Sender goes to Agent Receiver goes to Agent
Fills “Send Money Form” (Green colour) Fill in “receiver Money form”(yellow colour) TRM
Pays Principal and charges Shows valid ID
Transaction is sent. Transaction is verified.
Sender gets Receipt and MTCN (Money transfer code number) Receiver gets money and receipt
Sender informs receiver of MTCN