Bank of Maharashtra Mumbai

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About  Bank of Maharashtra

Bank of Maharashtra has been set up in the year 1936 at Pune. The bank has started with the mission to give the financial back up to the trade and commerce in the state of Maharashtra. Mumbai, the capital city of Maharashtra is the leading commercial hub of the country. The second branch of the bank was set up in the city. Since then the Bank of Maharashtra has progressed and have spread the number of branches in the country. The bank main aim is to capture the banking market globally and it is making its presence felt globally. The vision of the bank is to explore all the financial option and give the best products and services to the customer.

Mumbai is the center of all the commercial activities and hence the bank has opened many branches within the city. Bank of Maharashtra is one of the significant Public sector banks. The bank stands for the three M’s mobilization of the money, motivation of the workforce, and modernisation of the procedure. The mission of the bank is to enter the international arena with its branch networks. The motto of the bank is to provide the best products to the customer and enhance the wealth of the shareholders. The bank wants to be the best in their customer satisfaction.

Address of Bank of Maharashtra Branches in Mumbai

Branch NameAddressIFSC CodeMICR Contact Details
Fort MumbaiJanmangal, 45/47, Mumbai Samachar Marg, Fort, Mumbai. 400023MAHB000000240001400222663947
Girgaum, Mumbai215 Bhatavadekar Bldg Rajaram Mohan Roy Road Girgaum Mumbai 400004MAHB0000006400014003022-23821594
Ranade Road, Dadar, MumbaiPopatlal Niwas, Ranade Road, Dadar West, Mumbai 400028MAHB0000016400014004022-24222885
Zaveri Bazar, Mumbai1st Floor Guru Ashish Ganeshwadi Corner Zaveri Bazar Mumbai 400002MAHB0000026400014005022-22432408
Sion Branch153, Sunrays Building, Sion, Mumbai 400022MAHB000003940001403324071753/ 24077951
Gokhale Road, Dadar, MumbaiGokhale Road Near Portugese Church Dadar West Mumbai 400028MAHB0000042400014006022-24226106
Mumbai CentralMaratha Mandir Bldg, Club Road, Mumbai Central, Mumbai 400008MAHB0000048400014008022-23070361
Worli, MumbaiReady Money Terrace, Dr Annie Beasant Road, Worli Mumbai 400018MAHB00000504000140091800-102-2636
Vile Parle East, MumbaiKrishna Villa, Mongi Bai Road, Vile Parle (EAST), Mumbai - 400057.MAHB000005340001403426141124/ 26150798
S P Road, Dadar, Mumbai4 Riddhi Apartment 10th Lane Khetwadi Girgaon Mumbai 400004MAHB00000674000140101800-102-2636
KhopoliMumbai Pune Rd Khopoli Dist RaigadMAHB000007440001412627843106
Parel , Mumbai64 Vikas Apartment Dr Ambedkar Road Parel East Mumbai 400012MAHB0000079400014011022-2413200
Pimpri31/6, Janmangal Mumbai Pune Road Pune 411018MAHB000008041101406227475386 27475769
Goregaon West, MumbaiA.B.Goregaonkar High School, Dalvi Sabhagriha, Aarey Road, Goregaon (WEST), Mumbai - 400062MAHB000008240001403528721773/28720273
Chembur, Mumbai70 - E, Mahabank Building, Dayanand Saraswati Road, Chembur, Mumbai - 400071MAHB0000089400014036022-25284296/ 022-25282828

Products Offered by the Bank in Mumbai

If you are in need of funds for the emergency or to build a home for yourself. Worry no more as Bank of Maharashtra has the best banking products which will give you the financial solutions to all your problems. They offer a vast range of products and services. 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 the fixed deposit to earn good interest rate over your money and increase your wealth. If you are in Mumbai, remember to do all your banking business from Bank of Maharashtra.

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 lakh11.75% - 12.75%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.
8.75% - 8.85%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 by the Bank of Maharashtra Mumbai are mentioned below

ProductDocuments
Personal LoanID 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 LoanID 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 LoanDocuments 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 LoanDuly 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 LoanID 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 depositA 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.

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