Bank of Maharashtra Pune

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About  Bank of Maharashtra

Bank of Maharashtra is one of the well-known banks of India. The bank was established as the need for the separate Bank for Maharashtra was felt required. The bank of Maharashtra has a long history which dates back to the pre- independence era. The bank has grown since then and has spread its network in different parts of the country. The bank was operated in the year 1936 in the city of Pune. It is one of the booming city of India which is also where the first branch of the bank has started. It has strengthened the network ever since then and has opened the number of branches. The main of the bank is to capture the international arena. It wants to be one of the most successful ventures in the banking business.

The vision of the company is to reach globally with the help of technology. The bank wants to make its presence felt across the globe with the continuous use of the latest technology. The bank focuses on becoming customer- centric bank. The bank tries to incorporate all the important aspect and come up with the best possible products and services for the customers. The main aim of the bank is to serve all sections of the society and make the banking facilities available to all.

Address of Bank of Maharashtra Branches in Pune

Branch NameAddressIFSC CodeMICR Contact Details   
Bajirao RoadJanmangal, 1177, Budhwar Peth Pune 411002MAHB0000001411014010020-24475520
Deccan Gymkhana, Pune1257, Deccan Gymkhana, Pawar Bldg, Pune 411004MAHB0000003411014014020-25531290/ 25532930
Khadki, PuneDeepashri, 157 Old Bazar, Khadki, Pune 411003MAHB0000007411014024020-25816029
Bhavani Peth, PuneSaikripa 122 Gul Ali Sanas Building Bhawani Peth Pune 411042MAHB0000028411014002020-26354588
Somwar Peth, Pune444, Somwar Peth, Agarkar High School Premises.MAHB00000404110140511800-102-2636
Tilak Road, PuneS P College Ground, Tilak Road, Pune 411030MAHB0000041411014055020-24336590/ 24336635
Shivajinagar, PunePashankar Building, Shivaji nagar, Pune - 411005MAHB0000041411014055020-24336590/ 24336635
Pune University132/B Plot No2, University Road, Pune 411007MAHB00000494110140571800-233-4526

Products Offered by the Bank in Pune

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. it is one of the best bank available to do the banking business in Pune.

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 Pune for the different products are mentioned in the table below:

ParticularsDetails
Interest Rate11.75% - 12.75%
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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