Maharashtra Gramin Bank

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Maharashtra Gramin Bank

Maharashtra Gramin BankMGB i.e. Maharashtra Gramin Bank was founded on 25 March 2008. It is a Gramin Bank or Indian Regional Rural Bank, in Maharashtra with its head office available in Aurangabad. MGB is one of 43 Gramin banks in India that are supported by the government and it aims at bringing banking services especially to rural areas.

Customers can check below the variety of loans offered by Maharashtra Gramin Bank and their eligibility criteria as well.

Maharashtra Gramin Bank Offerings

Savings Account

Features & Benefits:

  • The account holder has to give instructions for the transmission of funds from one account to another.
  • The Internet Banking and Mobile Banking facility are available.
  • TDS is not applicable to the interest that is earned on the account.
  • Deposit Insurance Cover up to Rs. 5 lakh.
  • Free Debit Card.

Current Account:

Features & Benefits

  • The account holder has to give instructions for the transmission of funds from one account to another.
  • Both Mobile and Internet banking facilities are available.
  • Free Debit Card.
  • The Interest especially on Fixed Deposits can be collected easily to this account.

Maharashtra Gramin Bank Loans Offered

  • Home Loan: To fulfil your dream of a new home, MGB provides Home Loans at very attractive rates. Moreover, MGB is offering loans for the Purchase, Construction and Renovation of flats.
  • Vehicle Loans: Customers can ride home their two-wheeler by getting a two-wheeler loan from Maharashtra Gramin Bank.  Vehicle Loans are adding wheels to one’s dream.
  • Gold Loans: Maharashtra Gramin Bank is offering Loans against Gold Ornaments/ jewellery through all its branches. MGB is offering a wide range of products to fulfil all your needs.
  • Personal Loan: MGB is providing personal loans at the very lowest interest rates which helps the customers in fulfilling their financial needs. MGB helps in providing loans especially to meet the Personal Credit Requirements.
  • Educational Loans: It helps students pursue their higher education from recognized institutions in which they have secured admission through the toughest merit-based selection process.

Maharashtra Gramin Bank Gold Loan


  •  The purpose of having an MGB Gold Loan is an investment in business/profession/MSME activities.
  •  Other productive purposes.
  •  For Consumption purposes such as medical purposes, buying durable articles, for meeting the social & family expenses.

Features & Benefits:

  • MGB Gold Loan is an Easy as well as a hassle-free loan process.
  • MGB Gold loans will be provided/granted only to individuals.
  • A loan will be granted only after getting the jewels that are engaged by the Bank.
  • The 22 carats Gold’s are taken or accepted as security.

Maharashtra Gramin Bank Personal Loan

The purpose of MGB Personal Loan are as follows:

  •  The main purpose is that the Personal Loan will be sanctioned only for domestic needs.


  • Personal Loan is available for all permanent Employees of Public Limited Companies, the Central/State/Semi-Government, Local Bodies etc.
  • An Applicant should not be a defaulter for earlier loans that are availed from the bank.
  • The Applicant’s minimum salary should not be below the amount of Rs. 6,000/-.

Maharashtra Gramin Bank Car Loan


  1. The Age Limit should be in between 21 to 60 years.
  2. Permanent employees of Public sector undertakings, State/Central Govt., Corporations, reputed establishments etc.
  3. Self-employed, Professionals and others who all are income tax assessees and also engaged in agriculture as well as allied activities.


A maximum of 84 EMIs can be allowed for a New Car Loan. Repayment can be done through 36 EMIs – 60 EMIs only in the case of a Used Car Loan. The repayment period for a used car depends upon the time period of the car i.e. how old it is.


Maharashtra Gramin Bank Home Loan


  • MGB Home Loan is used for the Construction of House
  • Renovation and Repairs of existing flat/house


  • The first one is a Simple Registered Mortgage or it can be an Equitable Mortgage of property
  • Next is the Equal share/amount of paper security i.e. NSCs, FDRs of the Bank etc.
  • Finally, Two Guarantors are required.
Maharashtra Gramin Bank Credit Card

The Eligibility Criteria of Maharashtra Gramin Bank Credit Card are as follows:

  •  All farmers including the Individuals or Joint borrowers are eligible.
  •  Next is the SHGs or JLG i.e The Joint Liability Groups of farmers such as tenant farmers, sharecroppers etc.
  •  At last, is the Loans under the VFPCK scheme.

Documents Required:

  • The Land Tax Paid Receipt is required.
  • Possession Certificate.
  • Title deeds are also required.
  • Any other documents that are required by the bank should be submitted.

Maharashtra Gramin Bank Net Banking

  • MGB is providing internet banking services that come under the name of E-Banking and online banking & services.
  • These services include mobile banking and internet banking, balance enquiry.
  • For accessing these services, one should visit the official website.

Maharashtra Gramin Bank Customer Care Number

Maharashtra Gramin Bank Customer care numbers are 022-25344059, 25435154. Individuals can contact here for any kind of difficulty facing while applying for MGB loans or also they can visit the website.

Maharashtra Gramin Bank Customer Complaints

Customers having any kind of query that is related to various loans in Maharashtra Gramin Bank can call on this number 0240- 2476139/41/42. However, These numbers are used in contacting the bank for registration of any kind of complaints. Or one can write a mail to the particular Regional Office and get the instant results.

How to Open a Savings Account in Maharashtra Gramin Bank

  • For opening a Savings Account in MGB one should Personally Visit the bank branch.
  • Fill up the AOF i.e. Account Opening Form for Savings Account
  • One should Attach the Required Documents along with AOF
  • Verification of AOF & Other Documents is done by the Banker
  • Deposit the Min Balance Amount into one’s Savings Account according to the savings Account requirement
  • Obtain the Passbook, Cheque Book, Debit Card etc. from the Bank.

How to Open a Current Account in Maharashtra Gramin Bank

  • Visit the Bank Branch.
  • Fill up the AOF i.e. Account Opening Form for Current Account.
  • Just Attach the Required Documents with the AOF.
  • Next Verification of AOF & Other Documents will be done.
  • Deposit the Min Balance Amount.
  • Obtain the Passbook, Cheque Book & Other Documents as well from the Bank.

Maharashtra Gramin Bank FAQs

What about the minimum age while applying for a Personal Loan from MGB?

An applicant’s age should be at least 21 years when he/she applying for a Personal Loan in Maharashtra Gramin Bank.

How can one check his/her account balance in MGB?

The Enquiry service of the bank remains open throughout the whole day. Individuals can check it at any time and anywhere by sending a request from their registered mobile number. For that, they just have to give a Missed Call from their mobile number to 18002332133 and they will receive instant SMS with their account balance.

Is Maharashtra Gramin Bank net banking?

Net Banking/Internet Banking is providing banking as well as corporate banking services control to handle all their banking demands online.

Is MGB Nationalised?

MGB is a regional rural bank available in Maharashtra state with its head office situated in Aurangabad. Maharashtra Gramin Bank comes under the ownership of the government of India/ Ministry of Finance.