Mahabank floats current a/c variants

Bank of Maharashtra has launched two new variants of its current account scheme""Mahabank-Pearl & Mahabank-Sapphire""aimed at attracting high-value current accounts.

Mahabank-Pearl scheme is for those who maintain a quarterly average balance of Rs 1 lakh while balance required for Mahabank-Sapphire is Rs 5 lakh.

The uniqueness of the schemes lies in the concessions in service charges allowed to the account holders across a range of services. Concessions in service charges go up to 60 per cent as well as 25 to 50 per cent concession on rebate in locker rent are offered to the account holders under this category.

Account holders will be entitled to receive a debit cum ATM card at free of cost. Also no ledger portfolio charges will be applicable to these accountholders.

Along with these Concessions are available in respect of various services like, remittances, cheque collection, locker rent and several other services.

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.