IFSC Code of Bank of Maharashtra, Lokhandi Sawargaon Branch, Maharashtra

Use this page as a one-stop reference for everything related to Bank of Maharashtra's LOKHANDI SAWARGAON branch in LOKHANDI SAWARGAON, MAHARASHTRA. The branch's IFSC code MAHB0001024 is the key identifier you need whenever a remitter, employer or biller asks for a bank routing number to send funds to an account held at this branch. We have also included the branch's postal address, telephone number, banking hours, common services, and an extensive FAQ block that should answer almost every question that comes up when you are about to add this branch as a beneficiary in your net-banking app for the first time.

An IFSC (Indian Financial System Code) is an 11-character alphanumeric code issued by the Reserve Bank of India. It uniquely identifies every bank branch that participates in the RBI's electronic fund-transfer systems – NEFT, RTGS and IMPS. The first four characters represent the bank, the fifth is always a zero (reserved for future use), and the last six characters identify the specific branch.

For Bank of Maharashtra's LOKHANDI SAWARGAON branch, the IFSC MAHB0001024 breaks down as follows: MAHB identifies the bank, 0 is the reserved character, and 001024 identifies this particular branch.

About Bank of Maharashtra

Bank of Maharashtra operates a wide network of branches across India, including the Lokhandi Sawargaon branch in Lokhandi Sawargaon. Each branch is enabled for NEFT, RTGS, IMPS and core banking, allowing customers to send and receive money anywhere in the country using a unique IFSC – in this case, MAHB0001024.

Lokhandi Sawargaon branch overview

Located at TAPKIRE BLDG.,A.K.RD, LOKHANDI SAWARGAON, TEH.AMBEJOGAIL OKHANDI SAWARGAON, the Lokhandi Sawargaon branch handles regular banking operations such as account opening, fixed and recurring deposits, locker facilities, loans, and trade finance services where applicable. The IFSC MAHB0001024 is required for all interbank electronic transfers routed through this branch.

Branch details at a glance

The role of IFSC in India's payments network

India's electronic payment infrastructure — NEFT, RTGS, IMPS, UPI and the National Automated Clearing House (NACH) — is built on a single principle: every participating bank branch must be uniquely identifiable by an alphanumeric code. The Reserve Bank of India introduced the IFSC system to fulfil this requirement, and that is how Bank of Maharashtra's LOKHANDI SAWARGAON branch came to be assigned the code MAHB0001024.

Whether you are receiving a salary on the first of the month, paying a vendor invoice, settling an EMI, or accepting a refund from an e-commerce platform, the IFSC is the silent piece of metadata that tells the network where your account lives. Without IFSC MAHB0001024, money simply cannot be routed to the LOKHANDI SAWARGAON branch electronically.

MICR code & cheque clearing

Apart from IFSC, every cheque book issued by Bank of Maharashtra carries a 9-digit MICR (Magnetic Ink Character Recognition) code that is read by cheque-sorting machines. The MICR code, the IFSC MAHB0001024 and the account number together uniquely identify the Lokhandi Sawargaon branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC MAHB0001024

Online transfers in India are powered by three major channels — NEFT, RTGS and IMPS — and each one requires a destination IFSC. Below is a quick guide for using IFSC MAHB0001024 across all three.

How to use IFSC MAHB0001024 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Bank of Maharashtra's LOKHANDI SAWARGAON branch. NEFT now settles on a 24x7 basis in half-hourly batches and has no upper limit for retail customers (individual banks may impose their own caps).

1. Log in to your internet banking or mobile banking app.
2. Choose Add Beneficiary and select NEFT / Other Bank.
3. Enter the beneficiary name, account number and the IFSC MAHB0001024.
4. Confirm the bank name auto-populates as Bank of Maharashtra and the branch as LOKHANDI SAWARGAON.
5. Approve the beneficiary using OTP. Once activated, transfer any amount and the credit will reflect in the next NEFT cycle.

RTGS transfers via IFSC MAHB0001024

RTGS (Real-Time Gross Settlement) is the fastest high-value transfer mechanism in India. It is meant for transfers of ₹2 lakh and above and settles each transaction individually and instantly. To remit through RTGS to Bank of Maharashtra – LOKHANDI SAWARGAON, ensure your bank's portal accepts IFSC MAHB0001024 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of Maharashtra LOKHANDI SAWARGAON (IFSC MAHB0001024)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC MAHB0001024 in your mobile or internet banking app, and the money is credited to the LOKHANDI SAWARGAON branch account within seconds.

NEFT vs RTGS vs IMPS — which one should you use?

All three modes accept the IFSC MAHB0001024 for Bank of Maharashtra – LOKHANDI SAWARGAON, but they differ in speed, minimum amount and use case. The table below summarises the differences so you can pick the right channel for the situation at hand.

For most retail customers crediting the Lokhandi Sawargaon branch, NEFT or IMPS will be the quickest and most economical option. RTGS comes in for one-off, high-value movements such as property purchases, vendor settlements or large gifts.

How UPI relates to the IFSC code

UPI lets you pay using a short Virtual Payment Address instead of typing the IFSC every time, but behind the scenes every UPI mandate is mapped to an account number plus an IFSC. For accounts at Bank of Maharashtra's LOKHANDI SAWARGAON branch, the IFSC MAHB0001024 is what the National Payments Corporation of India (NPCI) uses to route the credit when you tap Pay on a UPI app.

That is why, even in the UPI era, it is still worth knowing the IFSC of your home branch — for failed UPI mandates, e-mandate set-ups, third-party platform onboarding and salary or refund credits.

Account types you can open at the Lokhandi Sawargaon branch

Once you have an account at Bank of Maharashtra – LOKHANDI SAWARGAON, the IFSC MAHB0001024 stays the same regardless of the type of account you hold. The branch typically supports the following options:

• Savings account — for individuals, with chequebook, ATM card and net-banking access.
• Current account — for sole proprietors, partnerships and companies that need higher transaction volumes.
• Salary account — opened in bulk for corporate employees, often with zero-balance benefits.
• NRE / NRO accounts — for non-resident Indians who want to repatriate or maintain rupee balances in India.
• Fixed deposit and recurring deposit — term-based investment accounts with quarterly or cumulative interest.
• Senior citizen accounts — concessional minimum balance and a small interest rate premium on FDs.
• Minor and student accounts — operated jointly with a guardian until the customer turns 18.

Eligibility, minimum balance and KYC requirements vary by product. Speak to a relationship officer at the branch for the latest schedule of charges and interest rates.

Banking services available

The Lokhandi Sawargaon branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 91-9175051024.

• Savings, current and salary accounts
• Fixed deposits and recurring deposits
• Personal, vehicle and home loans
• Demat and investment products (where supported)
• Internet banking and mobile banking enrolment
• Debit and credit card issuance
• Locker facilities (subject to availability)
• Foreign exchange services (at authorised branches)
• Bill payments, demand drafts and pay orders
• NEFT / RTGS / IMPS / UPI fund transfers using IFSC MAHB0001024

Digital banking channels

Most day-to-day work that customers used to do at the Lokhandi Sawargaon branch counter can now be completed digitally — adding a beneficiary, transferring funds, applying for a fixed deposit, raising a service request or downloading account statements. The IFSC MAHB0001024 is the link between the digital channel and the branch ledger; once a transaction is confirmed, the credit or debit is reflected in the same core banking system that the branch officers see.

Reaching the branch

The Lokhandi Sawargaon branch sits at TAPKIRE BLDG.,A.K.RD, LOKHANDI SAWARGAON, TEH.AMBEJOGAIL OKHANDI SAWARGAON. If you are travelling from outside Lokhandi Sawargaon, search for the branch on a maps application using the bank name and locality, or call 91-9175051024 to ask for landmarks. Many customers find it easier to skip the trip altogether: net banking, mobile apps, NEFT, RTGS, IMPS and UPI all work using the IFSC MAHB0001024 and your account number.

Things to verify before sending money

Banking errors are usually small typos that snowball into delayed credits and customer-care follow-ups. Use this short checklist before you confirm any transfer to Bank of Maharashtra – LOKHANDI SAWARGAON:

• The IFSC is exactly MAHB0001024 with no extra spaces.
• The beneficiary's account number matches what they shared, digit for digit.
• The portal auto-fills Bank of Maharashtra as the bank name and LOKHANDI SAWARGAON as the branch.
• The amount and the purpose of payment are correct.
• You have a valid OTP-verifying mobile number on hand.

A 30-second review here saves hours of reconciliation later.

Branch banking hours and holidays

Indian bank branches typically operate from 10:00 AM to 4:00 PM, Monday to Friday, and from 10:00 AM to 2:00 PM on working Saturdays (usually the 1st, 3rd and 5th Saturdays). The Lokhandi Sawargaon branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC MAHB0001024, however, work 24x7.

Verifying IFSC MAHB0001024 from official sources

The IFSC listed on this page is sourced from the RBI's master list and validated against the bank's branch directory. To double-check before transferring large sums, you can also confirm MAHB0001024 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 91-9175051024.
• Visiting the bank's official branch locator page.

Branch address & contact

Frequently asked questions

Final notes

To recap: MAHB0001024 is the IFSC code of Bank of Maharashtra, LOKHANDI SAWARGAON branch, in LOKHANDI SAWARGAON, MAHARASHTRA. It is required for every electronic transfer to an account held at this branch. We keep this page updated with the latest address and contact details, so you can rely on the information here for your day-to-day banking needs.