Bank of Maharashtra IFSC Code

Bank of Maharashtra is one of India's leading public sector banks with a distinguished history spanning over 89 years. Established in 1935 in Pune, Maharashtra, the bank has grown to become a major financial institution with over 2,100 branches across India. Bank of Maharashtra is known for its strong presence in Maharashtra and its commitment to serving all sections of society.

Foundation and Heritage

Bank of Maharashtra was registered on September 16, 1935, and commenced business on February 8, 1936, in Pune. The bank was founded by a group of visionary Maharashtrians with the objective of providing banking services to the common people and supporting regional economic development. The bank's roots in Maharashtra continue to define its strong regional identity.

The bank was nationalized in 1969 as part of the Indian government's initiative to extend banking services to the masses. Since then, Bank of Maharashtra has expanded beyond Maharashtra to establish a pan-India presence while maintaining its core values of customer service and community development.

Banking Products and Services

Bank of Maharashtra offers a comprehensive range of banking products for individuals and businesses. Personal banking services include various savings accounts like Mahabank Savings Plus, Maha Smart Save, and basic savings accounts. The bank offers competitive interest rates on fixed deposits and recurring deposits.

Loan products include home loans under Maha Super Housing Loan, car loans, personal loans, education loans, and gold loans. Bank of Maharashtra is known for its affordable housing loan schemes and quick processing. The bank also provides agricultural loans and supports farmers through various credit facilities.

Maha Mobile and Digital Banking

Bank of Maharashtra's digital banking is powered by the 'Maha Mobile' app, which offers comprehensive banking services including account management, fund transfers, bill payments, and UPI transactions. The app provides customers with convenient access to banking services from their smartphones.

The bank's internet banking platform 'MahaConnect' provides secure access to banking services for retail and corporate customers. Bank of Maharashtra has invested in digital transformation to enhance customer experience and operational efficiency.

Agricultural and Rural Banking

Bank of Maharashtra has a strong commitment to agricultural lending and rural development, particularly in its home state. The bank provides crop loans, farm mechanization loans, irrigation loans, and loans for allied agricultural activities. The bank's Kisan Credit Card scheme provides farmers with flexible credit for their agricultural operations.

MSME and Business Banking

Bank of Maharashtra actively supports the MSME sector with various loan products including working capital loans, term loans, and credit under government schemes like Mudra and Stand Up India. The bank has specialized branches and teams dedicated to serving small business customers.

Corporate Banking

Corporate banking services include project finance, working capital finance, trade finance, and treasury services. Bank of Maharashtra supports industrial development and infrastructure projects through its corporate banking division.

Financial Inclusion

Bank of Maharashtra actively participates in financial inclusion initiatives and implements government welfare schemes. The bank has opened millions of Jan Dhan accounts and provides banking services in rural areas through its branch network and Business Correspondents.

Awards and Recognition

Bank of Maharashtra has received numerous awards for its banking services, digital initiatives, and contribution to financial inclusion. The bank has been recognized for its performance in various government schemes and customer service excellence.