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Eligibility

Any individual, proprietorship or partnership firm or a legal person i.e. Institution or a Company or Trust, Corporate Bodies, Government / Semi-Government Departments, a developmental Agency formed by Government, can open a Current Account. Application for opening the Account should be tendered in Account opening form prescribed by the Bank The applicant / s should fulfill KYC norms by furnishing identity and address proof, two photographs & PAN number / Form No. 60 / 61 while opening new account as applicable to the constitution of applicant and as mentioned in the form.

Minimum Balance in the account

Minimum balance should be maintained in the account ON QUARTERLY AVERAGE basis as mentioned below: 

In Metro/ Urban/ Semi Urban Branches: Rs 5,000/

Rural Branches Rs. 2,000/

IF quarterly average minimum balance in the account is not maintained, service charges will be levied once in every quarter. 

Details of charges are given under “Service Charges” displayed in home page of website. Also available in all branches with Branch Manager / Deputy Branch Manager

Nomination

Nomination facility is available.

Interest

No interest is payable on this account

Other Benefits

  • The account holder/s can give standing instructions for transfer of funds from the account to any another account/s, make payment of electricity bills, Insurance Premium, Telephone bills, taxes, loan installments etc. Charges applicable are furnished in Service Charges Schedule available in every branch and also on Bank’s website
  • Telebanking facility, SMS Banking facility, Mobile banking facility and Internet Banking facility are available.
  • Free Mahabank VISA ATM / Debit Card.
  • Interest on Fixed Deposits can be collected to this account.