Bank Of Maharashtra Indore

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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 AddressIFSC Code MICR Customer Care
M G Road IndoreFadnis Complex, 88 - M. G. Road, Indore 452007MAHB00001064520140020731 254 3483
Godha Colony Indore18, Palsikar Colony, Palsikar Main Road Crossing, Indore 452004MAHB00004364520140030731 236 5050
Lokmanya Nagar Indore7, Kesarbagh Road, Lokmanya nagar, Indore 452009MAHB00007684520140040731 259 0600
Annapurna Indore56, Sudama nagar, Annapurna Road, Indore 452009MAHB00011864520140050731 248 0456
Palasia IndoreKanchan - Sagar 18, Old Palasia, A. B. Road, Indore 452001MAHB00011904520140061800 233 4526
Vijaya nagar Indore51, Scheme No. 54, Vijay Nagar, Agra Mumbai Road, Indore 452008MAHB00012244520140071800 102 2636
Kanadia Road Indore1 - 2, Shiv shakti nagar, Kanadia Road, IndoreMAHB00013964520140080731-2590600
KodariaVILLAGE KODARIYA TEHSIL MHOW DISTRICT INDOREMAHB000066045301400207324-220117
DudhiyaH No. 377, Indore Nemawar Main Road, Dudhiya, Dist. Indore 452016MAHB00016174520140120731-2863444
South Tukoganj IndoreUp Grd Floor - 8-11 Indraprasth Tower, Hukumchand Ghantaghar, 6, M G Road, Indore 452 001MAHB00017654520140130731-2510900
New LohamandiA-107, Scheme No-78, Part - 1, Indore-452010MAHB0001930NON-MICR8719899458

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

ProductEligibilityLoan AmountInterest RateProcessing FeeTenure
Personal loanThe 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 lakh11.65% - 12.65%1% of the loan amount + service tax (as applicable)36 months
Home loanThe 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.
8.65% - 8.75%Nil30 years
Education loanThe 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%NilMoratorium: 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 loanThe 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.8.90% - 9.40%Nil84 months
Vehicle loanThe 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 depositBelow 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.Nil7 days to 10 years

Documents Required

The documents required for the different products in Bank of Maharashtra Indore are mentioned in the table below:

ParticularsDetails
Interest Rate11.65% - 12.65%
Loan AmountUp to ₹1.5 lakhs
tenureup to 36 months
Processing Fee1% of the loan amount
Prepayment ChargesAs per bank's norms

 

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