IFSC Code of Bank of Maharashtra, Panaj Branch, Maharashtra

If you are searching for the IFSC code of Bank of Maharashtra, PANAJ branch in PANAJ, MAHARASHTRA, this page has every detail you need. The verified IFSC code for this branch is MAHB0000757. You can use it for NEFT, RTGS and IMPS fund transfers, online banking add-payee actions, UPI mandates and any other electronic payment request that asks for an Indian Financial System Code. The information on this page is curated specifically for customers, remitters, employers and businesses who need to credit funds to an account maintained at this branch, and it is structured so you can find what you need within a few seconds of landing here.

You will see the complete branch address, the area STD code and phone number, the city and state, the day-to-day banking services that are typically offered at the PANAJ branch, and detailed step-by-step guides for using the IFSC MAHB0000757 across NEFT, RTGS and IMPS rails. A frequently-asked-questions section at the end answers the most common queries we receive about this particular branch.

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 PANAJ branch, the IFSC MAHB0000757 breaks down as follows: MAHB identifies the bank, 0 is the reserved character, and 000757 identifies this particular branch.

About the bank

Bank of Maharashtra serves retail and corporate customers with a full range of deposit, lending, payments and digital banking products. Its Panaj branch in Panaj, Maharashtra is part of this network and uses the IFSC code MAHB0000757 for all electronic settlement.

About the Panaj branch

The Panaj branch of Bank of Maharashtra is situated at 243 BOCHE BLDG, AT AND POST PANAJAKOT TEHSIL. Customers visiting this branch can complete cash deposits, withdrawals, demand draft requests, cheque clearing, passbook updates and KYC formalities. For online transactions to or from this branch, the IFSC code MAHB0000757 is used.

Branch details at a glance

Why every Bank of Maharashtra branch has a unique IFSC

Before electronic settlement systems went live in India, money transfers between banks relied heavily on demand drafts, mail transfers and telegraphic transfers. These older instruments routinely took days to clear and were prone to misrouting because there was no single machine-readable identifier for a branch. The Reserve Bank of India solved this by issuing each participating branch — including PANAJ of Bank of Maharashtra — its own 11-character IFSC. The code MAHB0000757 is therefore not just an internal reference; it is the digital postcode that lets the RBI's NEFT, RTGS and IMPS rails route funds straight to the right branch ledger without any human intervention.

Today, almost every salary credit, vendor payment, refund and EMI deduction in the country flows through this network, which is exactly why a correct IFSC matters so much. A wrong character can either bounce the transfer or send it to the wrong branch, and reversing such a credit is a manual, time-consuming process. Treat IFSC MAHB0000757 the same way you would treat your account number — verify it once and save it carefully for future use.

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 MAHB0000757 and the account number together uniquely identify the Panaj branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

How to transfer money using IFSC MAHB0000757

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 MAHB0000757 across all three.

How to use IFSC MAHB0000757 for an NEFT transfer

NEFT (National Electronic Funds Transfer) is the most widely used method for sending money to Bank of Maharashtra's PANAJ 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 MAHB0000757.
4. Confirm the bank name auto-populates as Bank of Maharashtra and the branch as PANAJ.
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 MAHB0000757

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 – PANAJ, ensure your bank's portal accepts IFSC MAHB0000757 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of Maharashtra PANAJ (IFSC MAHB0000757)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC MAHB0000757 in your mobile or internet banking app, and the money is credited to the PANAJ branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Panaj

The right transfer rail depends on how urgent the payment is, how large it is, and whether the receiving bank participates in the chosen scheme. Every option below works with the IFSC MAHB0000757:

• NEFT — best for everyday transfers of any amount; settles in half-hourly batches around the clock.
• RTGS — best for transfers of ₹2 lakh and above; settles each transaction individually in real time.
• IMPS — best when speed matters more than batch scheduling; instant credit up to ₹5 lakh.
• UPI — best for small peer-to-peer payments using a VPA; the underlying account at PANAJ is still linked to IFSC MAHB0000757.

For salary credits, vendor payouts and refunds, employers and merchants usually default to NEFT because of its zero per-transaction cost for retail customers and its 24x7 availability.

UPI payments and IFSC MAHB0000757

UPI (Unified Payments Interface) has become the default way for individuals to send money in India. While most UPI transactions are addressed using a Virtual Payment Address (VPA) like name@bank, the underlying account at Bank of Maharashtra – PANAJ is still mapped to IFSC MAHB0000757. When a customer links a savings or current account to a UPI app for the first time, the app silently looks up this IFSC against the account number to verify the account exists. The VPA acts as a friendly alias on top of the same plumbing.

If a UPI transfer to or from this branch fails, the most common reasons are an inactive UPI handle, a daily limit breach or a temporary outage at one of the participating banks — not the IFSC. You can always fall back to NEFT or IMPS using the IFSC MAHB0000757 and the beneficiary's account number to complete the transfer.

Products and account variants supported

Every account opened at the Panaj branch is mapped to IFSC MAHB0000757 on the RBI payments network. The branch generally supports the full retail product catalogue of Bank of Maharashtra, including:

• Resident savings accounts and salary accounts
• Current accounts for businesses and professionals
• Fixed deposits, recurring deposits and tax-saver deposits
• Demand drafts, banker's cheques and pay orders
• Retail loans — personal, vehicle, education, gold and home
• Credit cards and overdraft facilities (subject to eligibility)
• Third-party investment products such as mutual funds and insurance (through tie-ups)

Whichever product you choose, the IFSC for incoming credits remains MAHB0000757.

Banking services available

The Panaj branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 91-7030931222.

• 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 MAHB0000757

Online banking and IFSC MAHB0000757

Bank of Maharashtra customers can register for net banking and the bank's official mobile app once their account at the PANAJ branch is active. Net banking lets you view balances, download statements, open fixed deposits, request cheque books and initiate NEFT/RTGS/IMPS transfers — all without setting foot in the branch. The IFSC MAHB0000757 is pre-filled by the bank for transfers originating from your own account, and you only need to enter it manually when adding an external beneficiary or sharing your account details with a third party.

Reaching the branch

The Panaj branch sits at 243 BOCHE BLDG, AT AND POST PANAJAKOT TEHSIL. If you are travelling from outside Panaj, search for the branch on a maps application using the bank name and locality, or call 91-7030931222 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 MAHB0000757 and your account number.

Common mistakes to avoid when using IFSC MAHB0000757

An incorrect IFSC almost always results in a failed transfer or, worse, a credit to the wrong branch. Before you click Confirm on a transfer to Bank of Maharashtra – PANAJ, double-check for these issues:

• Confusing 0 with O. The fifth character of every IFSC is the digit 0, not the letter O. Read carefully.
• Spaces or hyphens. Do not put spaces in the IFSC. It is exactly 11 characters: MAHB0000757.
• Wrong branch. A bank can have dozens of branches in the same city. Make sure you are using the IFSC for the actual branch where the beneficiary holds the account, not just any nearby branch.
• Old IFSC after a merger. If two banks have merged, the IFSC may have been reissued. Always verify with a recent passbook or cheque leaf.
• Copy-paste from chat. Auto-correct on phones can silently change letters in IFSC codes. Type carefully or copy from a trusted source like the cheque book.

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 Panaj branch is closed on the 2nd and 4th Saturdays, all Sundays and on national or regional bank holidays. Online channels using IFSC MAHB0000757, however, work 24x7.

Other ways to verify the IFSC code

While this page already lists the verified IFSC MAHB0000757 for Bank of Maharashtra – PANAJ, you can cross-check the code from any of these sources before initiating a high-value transfer:

• The front of the cheque book issued by the branch – the IFSC is printed at the top of every leaf.
• The first page of your passbook.
• The bank's official website under the branch locator.
• The Reserve Bank of India's IFSC search portal.
• Net banking dashboards usually display the home-branch IFSC under account details.

Branch address & contact

Frequently asked questions

Summary

The IFSC code MAHB0000757 belongs to Bank of Maharashtra's PANAJ branch, located at 243 BOCHE BLDG, AT AND POST PANAJAKOT TEHSIL in PANAJ, MAHARASHTRA. Use this code along with the beneficiary's account number for any NEFT, RTGS or IMPS transfer to this branch. Bookmark this page for quick reference whenever you need the branch's banking details.