Bank Of Maharashtra Indore
Last Updated : July 18, 2018, 3:48 p.m.
About Bank Of Maharashtra
Bank of Maharashtra is one of the leading banks in the country which was set up at Pune in 1936. The bank was primarily set up when the need for a separate bank was felt. The bank was established to give the financial assistance to the people of Maharashtra and fund the projects to build the infrastructure of the state. With the times it has extended its branches to several parts of the country and now the bank is one of the well-known banks of India. The bank aims to capture the eye of the world and becomes the best name in the banking world. One of the vibrant city of Madhya Pradesh is Indore. The city is lively with many medium and small sector industry booming its presence. To fulfill the monetary aspect of the city, Bank of Maharashtra in Indore have set up many branches. The vision of the bank is to spread across the globe and serve every stratum of the society. The vision of the bank is to provide the best banking solutions to the people with the help of modern technology. The mission is to create the proactive and dedicated workforce to analyze and fulfill the financial options of the people from all walks of life.
Address of Bank Of Maharashtra Branches in Indore
| Branch Name | Address | IFSC Code | MICR | Customer Care |
|---|---|---|---|---|
| M G Road Indore | Fadnis Complex, 88 - M. G. Road, Indore 452007 | MAHB0000106 | 452014002 | 0731 254 3483 |
| Godha Colony Indore | 18, Palsikar Colony, Palsikar Main Road Crossing, Indore 452004 | MAHB0000436 | 452014003 | 0731 236 5050 |
| Lokmanya Nagar Indore | 7, Kesarbagh Road, Lokmanya nagar, Indore 452009 | MAHB0000768 | 452014004 | 0731 259 0600 |
| Annapurna Indore | 56, Sudama nagar, Annapurna Road, Indore 452009 | MAHB0001186 | 452014005 | 0731 248 0456 |
| Palasia Indore | Kanchan - Sagar 18, Old Palasia, A. B. Road, Indore 452001 | MAHB0001190 | 452014006 | 1800 233 4526 |
| Vijaya nagar Indore | 51, Scheme No. 54, Vijay Nagar, Agra Mumbai Road, Indore 452008 | MAHB0001224 | 452014007 | 1800 102 2636 |
| Kanadia Road Indore | 1 - 2, Shiv shakti nagar, Kanadia Road, Indore | MAHB0001396 | 452014008 | 0731-2590600 |
| Kodaria | VILLAGE KODARIYA TEHSIL MHOW DISTRICT INDORE | MAHB0000660 | 453014002 | 07324-220117 |
| Dudhiya | H No. 377, Indore Nemawar Main Road, Dudhiya, Dist. Indore 452016 | MAHB0001617 | 452014012 | 0731-2863444 |
| South Tukoganj Indore | Up Grd Floor - 8-11 Indraprasth Tower, Hukumchand Ghantaghar, 6, M G Road, Indore 452 001 | MAHB0001765 | 452014013 | 0731-2510900 |
| New Lohamandi | A-107, Scheme No-78, Part - 1, Indore-452010 | MAHB0001930 | NON-MICR | 8719899458 |
Products Offered by the Bank in Indore
Bank of Maharashtra offers a wide range of products and services to its customer. There are several loan products like the home loan, personal loan, car loan, gold loan, etc that is helpful to the people as it provides the solution at the time of need. You can also invest your money in fixed deposit to earn good interest rate over your money and increase their money. So, Bank of Maharashtra is one of best banks to have the banking relationships in Indore.
Basic details about Bank of Maharashtra products
| Product | Eligibility | Loan Amount | Interest Rate | Processing Fee | Tenure |
|---|---|---|---|---|---|
| Personal loan | The applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity. The minimum net annual income of the applicant should be ₹ 3,00,000 per annum. The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization. 1 year relationship with the bank. | ₹1.50 lakh | 9.50% - 12.80% | 1% of the loan amount + service tax (as applicable) | 36 months |
| Home loan | The applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 years and 65 years for self- employed/ professional. The age limit at the time of loan maturity should be 75 years. The applicant should be salaried individual, self- employed and farmers holding at least 5 acres of land. The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization and self- employed should have a regular source of income with latest ITR. | No maximum limit for metro cities not more than ₹15,00,000 for rural areas. Not more than ₹25,00,000 for semi- urban area. | 8.60% - 10.80% | Nil | 30 years |
| Education loan | The student should be the resident of India. Should have secured the admission through entrance exam/ merit based selection. The student should have the guarantor/ collateral. | For India:₹ 10 lakh For abroad: ₹ 20 lakh | 9.20% - 10.95% | Nil | Moratorium: course period + 1 year 0r 6 months after getting the job. Up to 10 years after moratorium for amount under ₹7.5 lakh and up to 15 years after moratorium for more than ₹ 7.5 lakh. |
| Car loan | The applicant should be at least 18 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity. The minimum net annual income of the applicant should be ₹ 3,00,000 per annum. The applicant should be a government employee or defence personnel. | 36 times of the net monthly salary. | 6.40% onwards | Nil | 84 months |
| Vehicle loan | The applicant should be at least 18 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity. The minimum net annual income of the applicant should be ₹ 3,00,000 per annum. The applicant should be salaried individual, self- employed and farmers holding at least 5 acres of land. The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization and self- employed should have a regular source of income with latest ITR. | Up to 20 times of the net salary amount for the salaried individual. Up to 2 times of the total annual income for the self- employed. | 9.70% | 0.25% of the loan amount ( minimum ₹ 500) | 60 months |
| Fixed deposit | Below mentioned individual or group are eligible for a fixed deposit The applicant should be the resident of India. Hindu undivided family Sole proprietorship firms Partnership firm limited companies trust accounts. | Bank decide from time to time on maturity pattern. | Nil | 7 days to 10 years |
Documents Required
The documents required for the different products in Bank of Maharashtra Indore are mentioned in the table below:
| Product | Documents |
|---|---|
| Personal Loan | ID Proof – Passport/ Voter ID/ PAN Card. Age Proof– Birth certificate/ passport Residence Proof– Passport/ Utility bill/ Allotment letter. Income Proof– Latest Salary slip/ ITR/ form- 16 Signature Verification Proof- Passport/ PAN Card. Bank statement – Last 3 months bank statement/ last 6 months bank passbook. |
| Car Loan | ID Proof– Passport/ Voter ID/ PAN Card. Age Proof– Birth certificate/ passport Residence Proof– Passport/ Utility bill/ Allotment letter. Income Proof– Latest Salary slip/ ITR/ form- 16 Bank statement – Last 3 months bank statement/ last 6 months bank passbook. |
| Home Loan | Documents of the applicant and guarantor- ID Proof – Passport/ Voter ID/ PAN Card. Age Proof– Birth certificate/ passport Residence Proof– Passport/ Utility bill/ Allotment letter. Income Proof –Latest Salary slip/ ITR/ form- 16 Signature Verification Proof- Passport/ PAN Card. Bank statement – Last 3 months bank statement/ last 6 months bank passbook. Detailed information about the other loan if you are currently paying along with lenders information and security mortgage. Property Documents- Agreement sale copy. Certificate of possession. Land tax receipt. Detailed cost of construction. Letter of allotment Original NOC |
| Education Loan | Duly filled application with recent photographs. Residence Proof– Passport/ Utility bill/ Allotment letter. Date of Birth proof Certificate of Domicile Fee particulars from school/ college Scholarship proof Study Certificate |
| Vehicle Loan | ID Proof– Passport/ Voter ID/ PAN Card. Age Proof– Birth certificate/ passport Residence Proof – Passport/ Utility bill/ Allotment letter. Income Proof– Latest Salary slip/ ITR/ form- 16 Bank statement – Last 3 months bank A valid driving license Assessment order |
| Fixed deposit | A coloured photograph Passport/ Driving License Last six months bank account details Documents required from the trust, association/ clubs for the fixed deposit are as follows Photographs of the member operating the account. A Copy of the Trust Deed/ Bye- laws of the association. A Copy of registration certificate. A Copy of the resolution of trustee authorizing the member to operate and open the accounts. |