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Mahabank Salary Account Scheme
The scheme will have following salient features
SN | Features | Mahabank Salary Account Scheme |
|---|---|---|
| 1 | Who can open account | All employees of Central/State Government & State PSUs and Corporate having salary payment arrangement with the bank. (Account of Bank’s own staff members –full time or part time –shall not be opened under this scheme.) |
| 2 | Age (Minimum) | 18 Years |
| 3 | Initial Deposit |
|
| 4 | Minimum balance required |
|
| 5 | No. of Employees | No minimum requirement |
| 6 | Cheque book facilities | 40 Free personalized cheque leaves per annum |
| 7 | ATM cum Debit Card |
|
| 8 | ATM withdrawal /POS Limit (Default maximum per day limit) | ATM- Rs. 50,000/- per day POS- Rs 2,00,000/- per day (Can be changed as per customer request) |
| 9 | ATM Transactions |
|
| 10 | Group Insurance (Accidental) | Free
(Complementary insurance will be available from April 2020) |
| 11 | Additional Insurance | Personal accident insurance and permanent total disability cover up to Rs 2 lakh ( In built with RUPAY Platinum debit Card) |
| 12 | Clean Personal Loan Facility | Personal Loan up to Rs 20 lakh as per eligibility * |
| 13 | Concessional rate of interest and processing fees on retail loans | To be decided by Bank on case to case basis on request of employer. |
| 14 | NEFT/RTGS | Free 24X7 funds transfer facility through Internet Banking/Mobile Banking /UPI |
| 15 | Airport Lounge Access | Twice per quarter @ Rs 2/-per occasion for Rupay Platinum Card Holders (as offered by Rupay) |
*ROI, Processing fees,documentation charges and repayment period shall be applicable as per SCHEME/advances Products
Frequently Asked Questions
1. What is a Mahabank Salary Account?
It is a zero-balance savings account designed for salaried individuals where salary is credited monthly along with added banking benefits.
2. Is there any minimum balance requirement?
No, the account is a zero-balance account with no maintenance charges.
3. Who can open this account?
Employees of government departments, PSUs, and corporates with salary tie-ups with the bank are eligible.
4. What debit card is provided?
A free RuPay Platinum Debit Card with no annual charges is provided.
5. Are ATM transactions free?
Yes, unlimited ATM transactions are free at both Bank of Maharashtra and other bank ATMs.
6. What insurance benefits are included?
The account offers:
- ₹40 lakh personal accident cover
- ₹1 crore air accident cover
- Disability coverage
7. Can I get a loan with this account?
Yes, you can avail personal loans up to ₹20 lakh and other retail loans at concessional rates (subject to eligibility).
8. Are online transfers free?
Yes, NEFT, RTGS, and UPI transactions are free and available 24x7.
9. Is there any cheque book facility?
Yes, you get 40 free cheque leaves per year.
10. Can private company employees open this account?
Yes, provided the employer has a salary account arrangement with the bank.
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