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Product Details
Bank Name
Bank of Maharashtra
Account Name
Royal Savings account
Account Type
Saving
Interest Rate
2.75%
Free Debit Card
Yes

Account Opening Fees
Account can be opened with zero balance
Annual Maintenance Fees
Nil
Minimum Account Balance
Minimum Monthly Average Balance (MAB) - Rs 1,00,000/-
Debit Card Charges
No
NEFT Charges
Free NEFT/RTGS through internet banking
IMPS Charges
Not mentioned
Fees and Charges
Royal Savings account
75.7
Special Features
Special assistance of Relationship Manager
If minimum MAB Rs 10 lakh, personal service by
Branch Head (in absence of Branch Manager the
Dy Branch Manager will provide the personal
service)
Eligibility Criteria
Resident individuals (sole or joint account),
HUFs,Associations, Trusts, Clubs, Societies etc. subject to
ful filling eligibility criteria (domestic depositors) of
Reserve Bank of India, on compliance of "Know Your
Customer(KYC) Guidelines
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros
Personal Air Accident Death Insurance Cover - Rs 50,00,000/- (Free of Cost), Personal Accidental Death Insurance
(PAI) Cover - Rs 10,00,000/- (Free of Cost), Cheque book facilities 100 free Personalized Cheque leaves per annum, ATM Cum VISA Debit Card Free ATM Card while opening of Account (no maintenance charge), Number of Transactions - Unlimited free transactions (No ledger folio/ account maintenance charges), NEFT/ RTGS Free NEFT/RTGS through internet banking, Demat Account Free for 1st year, Other Service Charges - 50% concession in processing fee of retail loans
Cons
Very low interest rate, Charges on Non Maintenance of Minimum MAB - Rs 1,000/- per quarter, Closing of A/C before 1 year Penalty of Rs 1,000/-
Application Procedure
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Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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