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BoM launches two new variants of current account scheme

Written by: Staff

Pune, Feb 23 (UNI) Bank of Maharashtra (BoM) today launched two new variants of its current account scheme called ''Mahabank-Pearl'' and ''Mahabank-Sapphire'' aimed at attracting high value current accounts.

''Mahabank-Pearl'' is for those who maintain a quarterly average balance of Rs one lakh and above in their current accounts while the average balance required for ''Mahabank-Sapphire'' is Rs five lakh.

The uniqueness of the schemes lie in attractive concessions in service charges allowed to the account holders across a range of services which results in substantial cost savings to them.

Concessions in service charges upto 60 per cent are offered to the account holders under this category. Concessions are available in respect of various services like remittances, cheque collection, and locker rent.

The bank hopes to add a good chunk of high value customers into its fold with the introduction of these schemes. This scheme will also benefit the existing customers who fulfill these criteria.

The bank in the recent pat has come up with a variety of customer-friendly products targeted at various cross sections of the society like ''Mahabank Lok Bachat Yojana'', ''Mahabank-Mahashakti'', ''Yuva Yojna'', ''Mahabank Realty'', and ''Mahabank Renewable Energy''. The bank has also tied up with Western Union Money Transfer for inward remittance of funds and is in the process of entering Bancassurance having already tied up with LIC of India and United India Insurance Company for selling of their products.

The Bank has a network of over 1300 branches spread across the country which includes fourteen specialized branches in the area of foreign exchange, industrial finance, small-scale industry and hi-tech agriculture, a press release here stated.


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