About Bizwheel
The main component of a healthy environment for self esteem is that it needs be nurturing. It should provide unconditional warmth.
95 Years Experience in Financial & Services
A dedicated group of social workers and labour movement activists, imbued with the spirit of service to the cause of mill workers, other industrial and hitherto neglected economically weaker sections of society started MACO Bank. In 1986 The area of operation of the Bank shall be confined to Mumbai city, Mumbai Suburban, New Mumbai, Thane and Raigad District.
8,500+
Members
21,28,33,300
Share Capital
3
Awards
Service We Provide
We provide quality service & support..
Explore Our Charges & Interest Rates
Deposit
Interest Rates
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Charges
W.E.F - 01/06/2026
| A. Stop Payment (per instrument) | Rs. 50/- + GST per instrument |
| B. Sign Verification per signature | Rs. 50/- + GST |
| C. Account Closure Within One Year Saving A/C (Without Cheque Book) | Rs. 200/- + GST |
| Saving A/C (With Cheque Book) | Rs. 10/- + GST per unused leaf |
| Current A/C (With Cheque Book) | Rs. 200/- + GST |
| Duplicate Passbook S/B A/C | Rs. 100/- + GST |
| C/A A/C Statement | Rs. 100/- + GST |
| D. Cheque Book Charges For C/A A/C (Per Cheque Book) | Rs. 100/- + GST per cheque book |
| For S/B A/C (First 6 Cheque Books Free) | Rs. 10/- + GST per leaf for additional cheque books |
| E. I/W & O/W Cheque Return Charges | Rs. 300/- + GST |
| F. Inoperative Charges S/B (Every 6 Months) | Rs. 150/- + GST (half yearly) |
| G. No Due Certificate | Rs. 150/- + GST |
| H. Balance / Interest Certificate | Rs. 150/- + GST |
| I. ECS Debit Return | Rs. 300/- + GST per transaction |
| J. Minimum Balance S/B A/C (Without Cheque Book) | Rs. 1000/- |
| S/B A/C (With Cheque Book) | Rs. 2000/- |
| Current A/C (With Cheque Book) | Rs. 5000/- |
| K. Minimum Balance Charges S/B A/C | Rs. 200/- + GST |
| L. Notice of Defaulters (First Notice) | Rs. 200/- + GST (Inclusive of postage) |
| Notice of Defaulters (Final Notice) | Rs. 300/- + GST (Inclusive of postage) |
| Legal / Court Notice | Actual + Rs. 1000/- + GST |
| Case Filing Charges | Actual + Rs. 2000/- + GST |
| Loan Application | Rs. 20/- + GST (General), Rs. 200/- + GST (Housing) |
| CIBIL Report Charges | Actual + Rs. 200/- + GST |
| Processing Fee (Loans) | 0.5% of loan amount + GST (Max Rs. 5000/- + GST) |
| Housing Loan Site Visit | Actual Expenses |
| CERSAI Registration (Movable) | Actual + Rs. 200/- + GST |
| CERSAI Registration (Immovable) | Actual + Rs. 300/- + GST |
| NEFT Charges | Upto 10,000: Rs. 2/- + GST 10,001 - 1,00,000: Rs. 5/- + GST 1,00,000 - 2,00,000: Rs. 15/- + GST Above 2,00,000: Rs. 25/- + GST |
| RTGS Charges | 2,00,000 - 5,00,000: Rs. 25/- + GST Above 5,00,000: Rs. 50/- + GST |
| IMPS Charges | 10,001 - 50,000: Rs. 5/- + GST 50,001 - 1,00,000: Rs. 10/- + GST |
| RuPay Debit Card (Yearly) | Rs. 250/- + GST |
| ATM Debit Card Replacement | Rs. 200/- + GST |
| SMS Service (Yearly) | Rs. 50/- + GST |
| A. Notice of Defaulters (Same for Existing & Proposed) | |
| First Notice | Rs. 175/+GSTN (inclusive of postage) |
| Final Noticed | Rs. 275/+GSTN (inclusive of postage) |
| Legal Notice | Rs. 1000/+GSTN (inclusive of postage) |
| Court Notice | Rs. 1000/+GSTN (inclusive of postage) |
| B. Standing Instruction (per instruction) | Nil |
| C. Ledger Folio Charges per pages (40 entries per page) | Nil |
| D. Loan Application | Rs. 10/+GSTN Rs. 100/+GSTN(For Housing) |
| E. Late Payment Charges | Rs. 100/+GSTN |
| F. No dues certificate | Rs. 100/+GSTN |
W.E.F - 01/04/2024
| Loan Type | Duration | Rate | Maximum Loan Amount |
|---|---|---|---|
| Long Loan | 180 | 11.90% | 25,00,000/- |
| Short Loan | 60 | 8.50% | 90% of Thrift Fund Balance |
| Emergency Loan | 36 | 11% | 3,00,000/- |
| Education Loan - under Member Welfare Fund | 50 | 5% | 5,00,000/- |
| Education Loan - Medical & Higher Technical Education | 72 | 10% | 45,00,000/- |
| Education Loan - General | 72 | 10% | 18,00,000/- |
| Medical Loan - under Member Welfare Fund | 50 | 5% | 5,00,000/- |
| Medical Loan - General | 60 | 10% | 8,00,000/- |
| Housing Loan - Fixed Interest Rate | 300 | 9.50% | 60,00,000/- |
| Housing Loan - Variable Interest Rate | 300 | 8.50% | 60,00,000/- |
| Gold Loan | 12 | 9.50% | 5,00,000/- |
| Overdraft Loan | 60 | 11.00% | 5,00,000/- |
W.E.F - 01/06/2024
| Prouct Code | Type of Deposit | Tenure | Rate of Interest (%) |
|---|---|---|---|
| 10 | Saving Deposit | - | 3 |
| 11 | Current Deposit | - | NA |
| 60 | Fixed Deposits | 30 to 45 days | 4 |
| 46 to 90 days | 4.50 | ||
| 91 to 180 days | 5.00 | ||
| 181 DAYS TO 364 DAYS | 7 | ||
| 1 to 2 years | 7.5 | ||
| 2 to 3 years | 8 | ||
| 3 to 5 years | 7.5 | ||
| 5 years and above | 7.00 | ||
| 61 | Cumulative Fixed Deposit | 1 to 2 years | 7.25 |
| 2 to 3 years | 8 | ||
| 3 to 5 years | 7.5 | ||
| 5 years and above | 7.00 | ||
| 62 | Recurring Deposit | 1 to 2 years | 7.5 |
| 2 to 3 years | 8 | ||
| 3 to 5 years | 7.5 | ||
| 5 years and above | 7.00 | ||
| 63 | MIDS Deposit | 1 to 2 years | 7.25 |
| 2 to 3 years | 8 | ||
| 3 to 5 years | 7.5 | ||
| 5 years and above | 7.00 | ||
| 64 | Thrift Deposit | - | 7.5 |
*Additional rate of interest of 0.25% will be paid to Sr. Citizens and the Member who are retired from the services.
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Our Services
- We are pleased to inform that Maco Bank RuPay Debit Cards can now be used for online shopping and transactions
- The RuPay Card can be used at all merchant establishments in India for online transactions and payments.
- All the customers holding Maco Bank RuPay Cards can transact online for shopping, bill payment, wallet payment and recharge.
You can send money to a beneficiary account from anywhere in India from your mobile phone. The money can be withdrawn by the beneficiary from his/her bank account or any ATM. Once transaction gets completed the remitter and beneficiary will get a SMS confirmation of transaction immediately
Add Unified Payment Interface (UPI) below ECS option Bank is registered as an issuer in UPI and you can use following Payment service provider (Apps) on your Android / IOS Mobile Handset :
1. Google Pay - Google Pay is a safe, simple, and helpful way to pay and manage your money. Safe, simple, and helpful Download Google Pay on your Android and iOS devices.
2. Phone Pe - PhonePe is a payments app that allows you to use BHIM UPI, your credit card and debit card or wallet to recharge your mobile phone, pay all your utility bills and also make instant payments at your favourite offline and online stores. You can also invest in mutual funds and buy insurance plans on PhonePe.
3. PayTM - Paytm app is the most trusted mobile recharge app of India. It provides hassle-free recharge services along with hundreds of deals and offers on a daily basis for your amazing experience. Check recharge plans and get amazing cashback offers on Paytm.
4. BHIM - BHIM (Bharat Interface for Money) is a UPI enabled initiative to facilitate safe, easy & instant digital payments through your mobile phone.
Add :- Billdesk - Bharat Bill Payment System below UPI
We have included Billdesk - Bharat Bill Payment System in MACO Mobile Application.
You all can make payment of most of the billers like:-
1. Mobile Prepaid Recharge
2. Mobile PostPaid Bill Payment
3. Electricity Bills
4. DTH/Dish TV Recharge
5. BroadBand PostPaid Bills
6. Landline PostPaid Bills
7. Credit Card Bill
8. Water / LPG Cylinder / Gas
9. Insurance
10. FastTag
11. Municipal Tax
12. Municipal Services
13. Hospital
14. Education
etc. and the list for Bill Payment categories and Billers are increasing day by day.
- Maco Bank now gives you the power in a single card to truly enjoy for shopping and withdrawal of cash from any Bank's ATM across the Nation.
- Debit Card lets you conveniently access your account through 1.70Lakhs+ ATMs as well as 9 Lakhs+ POS terminals with Merchant Establishments anywhere in India
- RuPay Debit card POS & Ecom Limit upto Rs. 50,000
- For any queries regarding Maco Bank Rupay Debit Card, kindly contact the ATM CELL at Help Line number: 022-62664100
News & Announcements
APPEAL TO CUSTOMERS
Maco Bank or its employees will never ask for your Card details / CVV Number / AADHAR Number / User Id / Password / UPI, ATM, Mobile Banking PIN through phone call / SMS I e-mails. Any such phone call / SMSes I e-mails asking you to reveal credential or One Time Password could be attempt by the fraudster to withdraw money from your account. NEVER share these details to anyone.
Maco Bank does not have its official page on any social media website such as Facebook, Twitter, Instagram, LinkedIn etc. All information regarding Bank's Products, Services, Information related to branch operations, timing, recruitment, other Banking related services etc. are available on Bank's Website www.macobank.com
Maco Bank wants our customers to be secure. We request all our customers to be vigilant and not to fall prey to any financial scam or false website.
By OrderChief Executive Officer
