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Bank of Maharashtra
3.5
based on 320 Reviews
Video summary
Company Overview
Company Locations
Working at Bank of Maharashtra
Company Summary
Bank Of Maharashtra is India's leading Public Sector Bank that offers Deposits, Loans, and Digital Products for Personal Banking, Corporates, MSMEs, and NRI Customers
Overall Rating
3.5/5
based on 320 reviews
8% below
industry average
Highly rated for
Job security
Critically rated for
Work satisfaction, Work-life balance, Company culture
Work Policy
Work from office
96% employees reported
Alternate Saturday off
47% employees reported
Strict timing
69% employees reported
No travel
43% employees reported
View detailed work policy
Top Employees Benefits
Job/Soft skill training
24 employees reported
Health insurance
20 employees reported
Office cab/shuttle
6 employees reported
Professional degree assistance
5 employees reported
View all benefits
About Bank of Maharashtra
Founded in1935 (90 yrs old)
India Employee Count10k-50k
Global Employee Count10k-50k
India HeadquartersPune, India
Office Locations
--
Websitebankofmaharashtra.in
Primary Industry
Other Industries
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View in video summary
Maharashtra has a long history of commercial activity since ages because of its strategic location in Indian sub continent and its large natural resources.
Maharashtra has been a progressive region and the Banking activity was also started in this region quite early. Historically speaking, the Bank of Bombay established in 1840 was the first Commercial Bank in Maharashtra. However, the first commercial bank set up in Maharashtra outside Mumbai was The Poona Bank established in 1889 at Pune followed by The Deccan Bank in 1890 and the Bombay Banking Company in 1898.
Outbreak of the First World War leading to great depression took a heavy toll on banks in India. Between 1914 and 1935 as many as 380 banks failed in the country out of which 54 were based in Bombay province. The impact of these failures was felt more in Maharashtra region because certain banks known for a long time were also closed down.
The effects of great depression started fading and new enterprises began emerging with new hopes in all spheres of economy, including banking.
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Bank of Maharashtra Ratings
based on 320 reviews
Overall Rating
3.5/5
How AmbitionBox ratings work?
5
130
4
75
3
49
2
34
1
32
Category Ratings
4.3
Job security
3.7
Salary
3.3
Promotions
3.0
Skill development
2.9
Company culture
2.9
Work-life balance
2.9
Work satisfaction
Bank of Maharashtra is rated 3.5 out of 5 stars on AmbitionBox, based on 320 company reviews.This rating reflects an average employee experience, indicating moderate satisfaction with the company’s work culture, benefits, and career growth opportunities. AmbitionBox gathers authentic employee reviews and ratings, making it a trusted platform for job seekers and employees in India.
Read more
Gender Based Ratings at Bank of Maharashtra
based on 288 reviews
3.7
Rated by 71 Women
Rated 4.5 for Job security and 3.9 for Salary
3.4
Rated by 217 Men
Rated 4.2 for Job security and 3.6 for Salary
Work Policy at Bank of Maharashtra
based on 41 reviews in last 6 months
Work from office
96%
Permanent work from home
2%
Hybrid
2%
Bank of Maharashtra Reviews
Top mentions in Bank of Maharashtra Reviews
+ 5 more
Compare Bank of Maharashtra with Similar Companies
Change Company | Change Company | Change Company | ||
|---|---|---|---|---|
Overall Rating | 3.5/5 based on 320 reviews | 3.5/5 based on 11.2k reviews | 3.9/5 based on 10.4k reviews | 4.2/5 based on 11.7k reviews |
Highly Rated for | Job security | No highly rated category | Salary Skill development | Skill development Work-life balance Salary |
Critically Rated for | Work-life balance Company culture Work satisfaction | Promotions Company culture Work satisfaction | No critically rated category | No critically rated category |
Primary Work Policy | Work from office 96% employees reported | Work from office 88% employees reported | Work from office 83% employees reported | Work from office 87% employees reported |
Rating by Women Employees | 3.7 Good rated by 71 women | 3.2 Average rated by 2k women | 3.6 Good rated by 1.6k women | 4.2 Good rated by 1.3k women |
Rating by Men Employees | 3.4 Average rated by 217 men | 3.6 Good rated by 8.7k men | 4.0 Good rated by 8.3k men | 4.2 Good rated by 9.9k men |
Job security | 4.3 Good | 3.5 Good | 3.7 Good | 4.1 Good |
View more
Bank of Maharashtra Salaries
Bank of Maharashtra salaries have received with an average score of 3.7 out of 5 by 320 employees.
Deputy Manager
(78 salaries)
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₹5 L/yr - ₹12 L/yr
Branch Manager
(76 salaries)
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₹8 L/yr - ₹22 L/yr
Chief Manager
(60 salaries)
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₹14 L/yr - ₹40 L/yr
Credit Manager
(28 salaries)
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₹10 L/yr - ₹20 L/yr
Assistant General Manager
(20 salaries)
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₹24 L/yr - ₹42 L/yr
Senior Manager Credit
(18 salaries)
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₹13 L/yr - ₹24 L/yr
IT Manager
(13 salaries)
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₹12 L/yr - ₹20 L/yr
Probationary Officer
(12 salaries)
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₹0.5 L/yr - ₹8 L/yr
Credit Officer
(11 salaries)
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₹8 L/yr - ₹20 L/yr
Clerk
(9 salaries)
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₹2.4 L/yr - ₹8 L/yr
Bank of Maharashtra News
View all
Bank Of Maharashtra Kicks Off Roadshows For Rs 2,500-Crore QIP
- Bank of Maharashtra is conducting roadshows to raise Rs 2,500 crore through qualified institutional placements.
- The funds will be raised from a mix of overseas and domestic investors including hedge funds, pension funds, and sovereign funds.
- The bank is aiming to dilute a 4.6% stake in the December quarter as part of SEBI's minimum public holding norms.
- The equity fundraising is expected to take place in the third quarter of 2025.
Bloomberg Quint | 28 Feb, 2025
Bank of Maharashtra gets the regulator’s nod for Gift City branch
- Bank of Maharashtra has received approval from the Reserve Bank of India to set up an International Financial Services Centre (IFSC) banking unit in the GIFT City.
- The branch will function as Bank of Maharashtra’s first international branch, carrying out offshore banking operations from India.
- The IFSC unit will provide the bank access to international financial markets and will allow it to deliver a complete range of products to its clients with foreign currency funding requirements.
- This approval will enable the bank to expand its international banking business and offer specialized banking services to its customers.
Banking Frontiers | 28 Feb, 2025
PSB stocks will attract investors, despite volatile markets
- Over the next year or so, the equity markets are expected to be awash with stocks of public sector banks as the government plans to offload shares or the banks may raise capital.
- The government holds a significant stake in banks such as Bank of India, UCO Bank, Bank of Maharashtra, Indian Overseas Bank, and Punjab & Sind Bank.
- The Department of Investment and Public Asset Management (DIPAM) has invited applications from investment bankers to advise on selling stakes in banks and financial institutions.
- Public sector banks need growth capital as deposit growth lags behind credit growth, with savers opting for alternative investment avenues.
HinduBusinessLine | 27 Feb, 2025
Bank of Maharashtra reduces retail loan interest rates by up to 25 bps
- Bank of Maharashtra has reduced retail loan interest rates by up to 25 basis points.
- The bank has waived processing fees on home and car loans.
- Interest rates for home loans start from 8.10% for salaried customers.
- The rate cut is in response to the recent reduction in the repo rate.
HinduBusinessLine | 23 Feb, 2025
Bank of Maharashtra slashes interest rate on retail loan by 25 bps
- Bank of Maharashtra has slashed interest rates on retail loans by 25 basis points.
- Processing fees on home and car loans have been waived by the bank.
- Interest rates for home loans and car loans for salaried customers with a credit score of 800 & above start from 8.10% and 8.45% respectively.
- The reduction in retail loan interest rates is a result of the recent cut in the repo rate from 6.50% to 6.25%.
HinduBusinessLine | 23 Feb, 2025
Bank of Maharashtra gets RBI approval for opening GIFT City branch
- Bank of Maharashtra has received RBI approval to open its branch in GIFT City.
- The branch will be the bank's first international branch and will conduct offshore banking operations from India.
- This development aligns with the Indian government's vision of establishing GIFT City as an international financial hub.
- The branch will provide access to international financial markets and offer a complete range of products to clients with foreign currency funding requirements.
HinduBusinessLine | 16 Feb, 2025
Bank of Maharashtra plans QIP of about ₹2,500 cr in FY26 to meet MPS norms
- Bank of Maharashtra plans to raise about ₹2,500 crore through Qualified Institutional Placement (QIP) in FY26 to meet Minimum Public Shareholding (MPS) norms.
- The bank has already reduced the government's shareholding to 79.60% from 86.46% after a QIP in October 2024.
- The bank aims to comply with the MPS norms ahead of the August 2026 deadline and will engage with investors to convey growth plans.
- Bank of Maharashtra expects its gold loan portfolio to grow to ₹15,000 crore by March 2025 and is exploring co-lending partnerships in this segment.
HinduBusinessLine | 16 Jan, 2025
Bank Of Maharashtra Q3 Results: Profit Rises On Better Loan Growth, Lower Provisions
- Bank of Maharashtra reported a 36% rise in net profit for Q3 FY25.
- Other income rose by 16% on year to Rs 788 crore.
- Provisions and contingencies fell to Rs 840 crore, aiding the bank's profits.
- Gross non-performing assets ratio improved to 1.80%, while advances grew 21% on year.
Bloomberg Quint | 15 Jan, 2025
Bank of Maharashtra reports 36% increase in Q3FY25 net profit at ₹1,406 crore
- Bank of Maharashtra reported a 36% increase in net profit for Q3FY25.
- Net interest income in the reporting quarter was up 19% year-on-year.
- Other income, including fee-based income, treasury income, and recovery in written-off account, rose 16% year-on-year.
- Provisions declined 11% year-on-year, while gross non-performing assets improved to 1.80% of gross advances.
HinduBusinessLine | 15 Jan, 2025
PSU Bank Stocks Spike On News Of Government Mulling QIP To Dilute Stake
- PSU Bank stocks witnessed a double-digit climb on news of the government considering a QIP to dilute stake.
- Central Bank of India shares rose by 15%, Indian Overseas Bank by 14%, and UCO Bank by 12%.
- Bank of Maharashtra and Punjab & Sind Bank also saw a 10% increase in their shares.
- The government aims to achieve the regulatory compliance of minimum 25% public shareholding.
Bloomberg Quint | 14 Jan, 2025
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Bank of Maharashtra FAQs
When was Bank of Maharashtra founded?
Bank of Maharashtra was founded in 1935. The company has been operating for 90 years primarily in the Banking sector.
Where is the Bank of Maharashtra headquarters located?
Bank of Maharashtra is headquartered in Pune.
How many employees does Bank of Maharashtra have in India?
Bank of Maharashtra currently has more than 12,000+ employees in India. BFSI, Investments & Trading department appears to have the highest employee count in Bank of Maharashtra based on the number of reviews submitted on AmbitionBox.
Does Bank of Maharashtra have good work-life balance?
Bank of Maharashtra has a work-life balance rating of 2.9 out of 5 based on 300+ employee reviews on AmbitionBox. 36% employees rated Bank of Maharashtra 3 or below for work-life balance. This rating reflects a negative sentiment among employees for work-life balance. We encourage you to read Bank of Maharashtra work-life balance reviews for more details
Is Bank of Maharashtra good for career growth?
Career growth at Bank of Maharashtra is rated as moderate, with a promotions and appraisal rating of 3.3. 36% employees rated Bank of Maharashtra 3 or below, while 64% employees rated it 4 or above on promotions/appraisal. This rating suggests that while some employees view growth opportunities favorably, there is scope for improvement based on employee feedback. We recommend reading Bank of Maharashtra promotions/appraisals reviews for more detailed insights.
What are the pros and cons of working in Bank of Maharashtra?
Working at Bank of Maharashtra comes with several advantages and disadvantages. It is highly rated for job security. However, it is poorly rated for work satisfaction, work life balance and company culture, based on 300+ employee reviews on AmbitionBox.
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