Bank of Maharashtra has launched a premium savings bank deposit scheme called ‘Mahabank, Royal Savings Account’ for high net worth individuals covering specialized services to customers having minimum monthly average balance (MAB) of Rs 1 Lakh in their savings bank account. The slew of benefits offered to the account holder under the product include assistance of relationship manager, free accident death insurance cover (Rs 50 Lakh personal air, accident death insurance and Rs 10 lakh personal accidental death insurance cover), higher transaction limit on ATM-cum-Debit card in merchant PoS, free NEFT/RTGS, through internet banking etc. Other benefits and special features include 50% concession on processing fees of all retail loans, 100 free personalised cheque leaves per annum, 50% concession on annual maintenance charge of BOM-SBI co-branded Gold credit card and free demat account facility for the first year.
