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Bank of Maharashtra
3.3
based on 361 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
3.3/5
based on 361 reviews
13% below
industry average
Highly rated for
Job security
Critically rated for
Work satisfaction, Work-life balance, Company culture
Work Policy
Work from office
90% employees reported
Alternate Saturday off
45% employees reported
Strict timing
70% employees reported
No travel
44% 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 361 reviews
Overall Rating
3.3/5
How AmbitionBox ratings work?
5
137
4
86
3
56
2
37
1
45
Category Ratings
4.1
Job security
3.7
Salary
3.2
Promotions
2.9
Skill development
2.8
Company culture
2.8
Work-life balance
2.8
Work satisfaction
Bank of Maharashtra is rated 3.3 out of 5 stars on AmbitionBox, based on 361 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 327 reviews
3.8
Rated by 76 Women
Rated 4.5 for Job security and 4.1 for Salary
3.1
Rated by 251 Men
Rated 4.0 for Job security and 3.6 for Salary
Work Policy at Bank of Maharashtra
based on 39 reviews in last 6 months
Work from office
90%
Permanent work from home
8%
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 | 3.3/5 based on 361 reviews | 3.5/5 based on 12.4k reviews | 3.9/5 based on 12.2k reviews  | 4.2/5 based on 12.8k 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 90% employees reported | Work from office 90% employees reported | Work from office 84% employees reported | Work from office 86% employees reported |
Rating by Women Employees | 3.8 Good rated by 76 women | 3.2 Average rated by 2.3k women | 3.7 Good rated by 1.9k women | 4.1 Good rated by 1.4k women |
Rating by Men Employees | 3.1 Average rated by 251 men | 3.5 Good rated by 9.7k men | 4.0 Good rated by 9.8k men | 4.2 Good rated by 10.9k men |
Job security | 4.1 Good | 3.5 Good | 3.7 Good | 4.0 Good |
View more
Bank of Maharashtra Salaries
Bank of Maharashtra salaries have received with an average score of 3.7 out of 5 by 361 employees.
Deputy Manager
(99 salaries)
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₹5.9 L/yr - ₹13 L/yr
Branch Manager
(79 salaries)
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₹12.2 L/yr - ₹22 L/yr
Chief Manager
(68 salaries)
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₹19.5 L/yr - ₹35.3 L/yr
Credit Manager
(30 salaries)
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₹13 L/yr - ₹22 L/yr
Assistant General Manager
(22 salaries)
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₹28 L/yr - ₹42 L/yr
Senior Manager Credit
(18 salaries)
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₹13.4 L/yr - ₹19 L/yr
IT Manager
(14 salaries)
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₹13.8 L/yr - ₹20.5 L/yr
Banking Officer
(14 salaries)
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₹8.8 L/yr - ₹15.6 L/yr
Clerk
(11 salaries)
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₹2.4 L/yr - ₹8 L/yr
Credit Officer
(11 salaries)
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₹10.3 L/yr - ₹18.8 L/yr
Bank of Maharashtra Interview Questions
Bank of Maharashtra News
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Minimum Balance Rules: ICICI Bank vs SBI vs Bank Of Baroda vs PNB vs Other PSU Banks — Details Here
- ICICI Bank has raised its minimum average monthly balance requirements for new savings accounts opened on or after Aug. 1. Customers across metro and urban branches now need to maintain Rs 50,000, up from Rs 10,000 earlier.
- Existing customers, salary accounts, Jan Dhan accounts, and basic savings accounts are exempt from the hike. ICICI Bank will penalize customers who fail to maintain the minimum balance with 6% of the shortfall or Rs 500, whichever is lower.
- Other private lenders like HDFC Bank, Axis, and Kotak Mahindra Bank have lower minimum balance requirements compared to ICICI Bank. Meanwhile, PSU banks like SBI, PNB, and Bank of Baroda continue to offer zero-balance savings accounts.
- Public sector banks like Bank of Maharashtra and Union Bank have varied minimum balance requirements for their savings accounts depending on the branch locations, unlike the uniform approach of some private banks.
Bloomberg Quint | 13 Aug, 2025
Bank of Maharashtra net sees 23% year-on-year increase in Q1 on higher net interest income
- Bank of Maharashtra reported a 23% year-on-year increase in net profit for Q1, reaching ₹1,293 crore. This growth is attributed to higher net interest income despite higher provisions for NPAs.
- The bank aims for a credit growth of 17%, maintaining CASA deposits above 50% and targeting a net interest margin of 3.75% for FY26. To improve NIMs, the bank focused on reducing high-cost deposits in favor of low-cost CASA deposits.
- Net Interest Income (NII) increased by 18% to ₹3,292 crore, while other income decreased by 8% to ₹825 crore. Provisions for NPAs rose by 23% to ₹719 crore, with a decline in provisions for standard/restructured assets.
- Gross NPAs improved to 1.74% of gross advances, while net NPAs decreased to 0.18% of net advances. Retail advances saw a significant growth of 35.37%, with a focus on home loans and gold loans for retail portfolio expansion.
HinduBusinessLine | 15 Jul, 2025
Bank of Maharashtra Q1 Results: Profit Rises 23% To Rs 1,593 Crore
- Bank of Maharashtra's net profit increased by 23% to Rs 1,593 crore in the first quarter of the fiscal year, compared to Rs 1,293 crore in the same period last year.
- Total income for the bank in April-June rose to Rs 7,879 crore from Rs 6,769 crore in the previous year, attributed to improved interest income.
- The bank's asset quality also improved, with gross non-performing assets decreasing to 1.74% of gross advances from 1.85% a year earlier.
- Additionally, the net non-performing assets declined to 0.18%, compared to 0.20% in the year-ago quarter, while the capital adequacy ratio improved to 20.06% from 17.04% in the corresponding quarter of the previous fiscal year.
Bloomberg Quint | 15 Jul, 2025
Bank of Maharashtra Q1 profit rises 23% to ₹1,593 cr
- Bank of Maharashtra reported a 23% increase in Q1 profit to ₹1,593 crore compared to ₹1,293 crore in the previous year.
- Total income for the quarter rose to ₹7,879 crore from ₹6,769 crore in the same period last year.
- The bank's asset quality improved with gross NPA at 1.74% and net NPA at 0.18% in June quarter FY26.
- Capital adequacy ratio of Bank of Maharashtra increased to 20.06% in the first quarter of FY26.
HinduBusinessLine | 15 Jul, 2025
Private banks see deposits outpacing credit growth in Q1; PSBs fare better
- Private banks like HDFC Bank witnessed a 7% year-on-year growth in advances and a 16% increase in deposits in Q1FY26.
- HDFC Bank’s credit growth was slower than expected, despite management's projection of industry-matching growth for the fiscal year. The bank securitised loans worth ₹3,300 crore to reduce its credit-deposit ratio.
- Mid-sized private banks such as Bandhan Bank, RBL Bank, AU Small Finance Bank, and Ujjivan SFB experienced a higher growth in deposits compared to credit in the first quarter.
- Public sector banks, including Bank of Baroda, Bank of India, and Bank of Maharashtra, achieved stronger credit growth in Q1 due to favorable credit-deposit ratios and excess liquidity ratios.
HinduBusinessLine | 4 Jul, 2025
Bank of Maharashtra logs 15% loan growth in Q1
- Bank of Maharashtra reported a 15% loan growth in the first quarter of the fiscal year.
- The outstanding credit at the end of the quarter was 2.09 lakh crore, as per a regulatory filing.
- Total deposits increased by 14.08% to ₹3.09 lakh crore compared to the previous year.
- The bank's total business, combining total credit and deposits, grew by 14.64% to ₹5.46 lakh crore.
HinduBusinessLine | 4 Jul, 2025
Home Loans: SBI To PNB, Top Five Banks With Lowest Interest Rates
- The Reserve Bank of India reduced the repo rate by 50 basis points, leading to cheaper funds for banks and potential benefits for customers.
- Banks are expected to lower home loan interest rates following the repo rate cut, with many already revising their rates.
- Top lenders like State Bank of India are anticipated to reduce interest rates, while others like Bank of Maharashtra, Canara Bank, and Union Bank offer home loans below 8%.
- Factors such as credit history, loan amount, and tenure influence home loan interest rates, which currently start at 7.85% per annum at various banks.
Bloomberg Quint | 11 Jun, 2025
Broker’s call: Bank of Maharashtra (Buy)
- Bank of Maharashtra (BOM) is a midsized public sector bank headquartered in Pune, Maharashtra, with the largest branch network in the state.
- BOM is performing well in India's public sector banking space, showing strong metrics in asset quality, CASA ratio, RoA, NIMs, PCR, and capital strength.
- The bank's capitalisation has improved, and it plans to raise ₹7,500 crore through different means to achieve lending growth of 17% in FY26.
- With an aggressive digital strategy and potential for growth, analysts recommend a 'Buy' on the stock with a target price of ₹62, offering a 24% upside over the next 12 months.
HinduBusinessLine | 23 May, 2025
Indian Banks are better prepared to handle financial stress now: Fitch Ratings
- Fitch Ratings stated that recent upgrades in Viability Ratings of Indian banks reflect stronger underwriting standards, improved asset quality, and enhanced risk profile, indicating better preparedness to handle financial stress.
- In March 2025, Punjab National Bank, Union Bank of India, and Bank of India saw VR upgrades, while Bank of Maharashtra and ICICI Bank Limited received upgrades in April 2025.
- Despite the enhancements, the Issuer Default Ratings of these banks are expected to remain the same, mostly relying on potential government support.
- While some banks like Bank of Baroda and Canara Bank face constraints due to growth appetite, continued positive performance may lead to potential VR upgrades in the future.
HinduBusinessLine | 20 May, 2025
Dividends And Stock Splits This Week — Oberoi Realty, Varun Beverages, Bajaj Finance; Track Record Dates
- Companies like Oberoi Realty, Varun Beverages, Anand Rathi Wealth, and Bajaj Finance are set to trade ex-dividend this week, with upcoming record dates for dividends and stock splits.
- Investors must closely monitor record dates to be eligible for dividends as per India's T+1 settlement cycle, ensuring purchases are made before the ex-dividend date for entitlement.
- Oberoi Realty has declared an interim dividend of Rs 2 per share, with a record date of May 5, while Varun Beverages announced an interim dividend of Rs 0.50 per share, with a record date of May 7.
- Bajaj Finance declared a special dividend of Rs 12 per share, attributing it to an exceptional gain from the sale of investment in Bajaj Housing Finance Ltd.
- Other companies announcing dividends this week include Anand Rathi Wealth, Transformer and Rectifiers (India) Ltd., UCO Bank, Oracle Financial Services Software Ltd., Laurus Labs Ltd., Sundaram Fasteners Ltd., and Bank of Maharashtra.
- Stock splits are also on the agenda with Info Edge (India) Ltd., Rajasthan Tube Manufacturing Co., Navkar Urbanstructure Ltd., and Shantai Industries Ltd. planning face value changes in their shares.
- Investors should take note of the specific record dates mentioned for each company announcing dividends and stock splits to ensure eligibility and adjust their investment strategies accordingly.
- Overall, the week ahead presents various opportunities for investors to capitalize on dividends and potential stock split benefits as part of corporate actions by these companies.
Bloomberg Quint | 4 May, 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 2.8 out of 5 based on 300+ employee reviews on AmbitionBox. 38% 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 3.2. 38% employees rated Bank of Maharashtra 3 or below, while 62% 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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