Azadi ka Amrit Mahatsav

Mahabank Salary Account Scheme

The scheme will have following salient features

SN

Features

Mahabank Salary Account Scheme

1Who can open accountAll 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.)

2Age (Minimum)18 Years
3Initial Deposit
  1. No minimum amount stipulated.
  2. The account can be opened with zero balance.
4Minimum balance required
  1. Nil
  2. Zero balance account
  3. No minimum balance charges
5No. of EmployeesNo minimum requirement
6Cheque book facilities40 Free personalized cheque leaves per annum
7ATM cum Debit Card
  1. Free Rupay platinum debit card
  2. Nil annual maintenance charge 
8ATM 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)
9ATM Transactions
  1. Free unlimited number of transactions in BoM ATMs
  2. Free unlimited number of transactions in other bank ATMs
10Group Insurance
(Accidental)

Free

  1. Personal accidental death cover: Rs 40 Lakh
  2. Total permanent disability cover: Rs 40 lakh
  3. Partial permanent disability cover: Rs 20 lakh
  4. Air accident death cover: Rs 1 Crore
  5. Golden hour cashless treatment (after incident of accident) : Up to Rs 1 lakh

(Complementary insurance will be available from April 2020)
11Additional InsurancePersonal accident insurance and permanent total disability cover up to Rs 2 lakh
( In built with RUPAY Platinum debit Card)
12Clean Personal Loan Facility Personal Loan up to Rs 10 lakh as per eligibility *
13Concessional rate of interest and processing fees on retail loansTo be decided by Bank on case to case basis on request of employer.
14NEFT/RTGSFree 24X7 funds transfer facility through Internet Banking/Mobile Banking /UPI
15Airport Lounge AccessTwice 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 as applicable to the