Bank of Maharashtra has raised Rs 600 crore (Issue of Rs 200 crore plus Green Shoe Option of Rs 400 crore) through issue of Basel III Compliant Tier II Bonds. The bank has allotted 6000 bonds of face value Rs 10 lakh each to allottees on March 6, 2020. The Coupon rate of bond is 8.70% and it will get mature on March 6, 2030.
Bank of Maharashtra offers several products and services in personal banking such as deposits, savings, personal loans, educational loans, demat services, credit cards, etc. The Bank also offers services to agricultural and SME sectors.