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Product Details
Bank Name

Bank of Maharashtra

Account Name

Bank of Maharashtra Salary account

Account Type

Salary

Interest Rate

2.75%

Free Debit Card

Yes. Free INSTA ATM Card while opening of account

Bank of Maharashtra Salary account
75.7
Account Opening Fees

Account can be opened with zero balance. The initial credit could be by way of cheque/credit of
salary/other instruments, etc

Annual Maintenance Fees

Service Charges(One time
Charges)
100/- (After opening the account)

Minimum Account Balance

No minimum balance requirement in the account (Zero Balance Account)

Debit Card Charges

​

NEFT Charges

Digital Mode : FREE

IMPS Charges

Not mentioned

Fees and Charges

Bank of Maharashtra Salary account

Special Features
Availability of wide range of additional financial services, such as Retail Loans (Home, Vehicle, Consumer), Insurance (life/non-life), Mutual Funds, Demat, Online Trading etc., subject to usual terms & compliances
Eligibility Criteria
Regular employees of state government, central government ,PSUs, Semi govt. organizations, State/central govt. corporations, Urban development authorities, Educational institutions / Universities, MNCs, Reputed public ltd companies, Selected (approved from R.O) Private Ltd Companies etc. Branches will ensure that opening of accounts under the scheme shall not result in overcrowding affecting service to other customers. Age (Minimum) 18 Years
Benefits
Features, Eligibility and Benefits
Pros & Cons
Pros

  • No waiting or tension for clearing salary cheque Instant credit of salary to the account.

  • All the facilities of savings account are available Instant opening of salary account with zero balance.

  • International ATM/Debit card can be used in all VISA ATMs inside and outside India.

Cons
Very low interest rate
Bank of Maharashtra Salary Account Review

The account comes with low interest rate and offers average value add features.

Abhijeet Saxena

Abhijeet Saxena

Nalsar University of Law

Ex- Senior Associate, Shardul Amarchand Mangaldas, Delhi

Ex - Khaitan & Co. Bengaluru,

Ex - National Stock Exchange, Mumbai,

Ex - Argus Partners, Mumbai

Product Review
Account Opening and Procedure
How to open an Account?
Application Procedure
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