IFSC Code of Bank of Maharashtra, Pargaon Branch, Maharashtra

Below are the complete branch details for Bank of Maharashtra, PARGAON branch, located in PARGAON, MAHARASHTRA. The IFSC assigned by the Reserve Bank of India to this branch is MAHB0001123. Whether you want to transfer money, add a beneficiary, verify a cheque or simply confirm the branch address, you will find authentic, up-to-date information on this page that has been cross-checked against the bank's branch directory and the RBI's master list of participants in the National Electronic Funds Transfer system.

The IFSC code is one of the most frequently asked-for pieces of information when somebody wants to send you money or set up a recurring credit such as a salary, EMI auto-debit or supplier payment. Knowing exactly which IFSC belongs to your branch — in this case MAHB0001123 for Bank of Maharashtra – PARGAON — saves you from rejected transfers, returned credits and the back-and-forth that follows them.

IFSC stands for Indian Financial System Code. It is an 11-character code that pinpoints a particular bank branch on the RBI's real-time payment rails. Every NEFT, RTGS or IMPS instruction must carry the destination branch's IFSC for the credit to land in the correct account.

In our case, MAHB0001123 is the IFSC of Bank of Maharashtra's PARGAON branch. The format is fixed: MAHB = bank code, 0 = reserved, 001123 = branch identifier.

Branch details at a glance

About Bank of Maharashtra

Bank of Maharashtra operates a wide network of branches across India, including the Pargaon branch in Pargaon. 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, MAHB0001123.

About this branch

The branch is located at R.R.PATIL S HOUSE.,PARGAON,TEH.PARGHARDIST THANE. It serves the Pargaon region and is connected to the bank's core banking platform, which means transactions initiated here are instantly visible across all other branches of Bank of Maharashtra. The IFSC MAHB0001123 is used to identify this branch on the RBI payments network.

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 PARGAON of Bank of Maharashtra — its own 11-character IFSC. The code MAHB0001123 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 MAHB0001123 the same way you would treat your account number — verify it once and save it carefully for future use.

How to transfer money using IFSC MAHB0001123

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 MAHB0001123 across all three.

NEFT to Bank of Maharashtra, PARGAON using IFSC MAHB0001123

National Electronic Funds Transfer is the simplest way to move money into an account at this branch. NEFT works around the clock, including Sundays and public holidays, and settles in half-hourly batches.

To send funds, add the recipient as a beneficiary in your bank's online portal, key in the account number, paste the IFSC MAHB0001123, and confirm that the system picks up Bank of Maharashtra – PARGAON. Submit the transfer request, authenticate with OTP, and the amount will reach the beneficiary in the next clearing cycle.

RTGS transfers via IFSC MAHB0001123

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 – PARGAON, ensure your bank's portal accepts IFSC MAHB0001123 while registering the beneficiary. RTGS is also available 24x7.

IMPS to Bank of Maharashtra PARGAON (IFSC MAHB0001123)

IMPS (Immediate Payment Service) offers instant, 24x7 fund transfers up to ₹5 lakh per transaction. Provide the beneficiary's account number along with IFSC MAHB0001123 in your mobile or internet banking app, and the money is credited to the PARGAON branch account within seconds.

Comparing NEFT, RTGS and IMPS for transfers to Pargaon

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 MAHB0001123:

• 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 PARGAON is still linked to IFSC MAHB0001123.

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.

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 PARGAON branch, the IFSC MAHB0001123 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.

Products and account variants supported

Every account opened at the Pargaon branch is mapped to IFSC MAHB0001123 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 MAHB0001123.

Banking services available

The Pargaon branch typically offers the following services. Specific products may vary by branch size; please confirm with the branch on 91-9607101123.

• 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 MAHB0001123

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 MAHB0001123 and the account number together uniquely identify the Pargaon branch and your account. The MICR for this branch is printed at the bottom of your cheque leaves.

Online banking and IFSC MAHB0001123

Bank of Maharashtra customers can register for net banking and the bank's official mobile app once their account at the PARGAON 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 MAHB0001123 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.

Common mistakes to avoid when using IFSC MAHB0001123

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 – PARGAON, 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: MAHB0001123.
• 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.

How to reach the Pargaon branch

The branch is located at R.R.PATIL S HOUSE.,PARGAON,TEH.PARGHARDIST THANE, which puts it inside Pargaon, the broader Palghar district, and the state of Maharashtra. To plan your visit:

1. Open Google Maps on your phone and search for “Bank of Maharashtra Pargaon branch” — the verified location pin for IFSC MAHB0001123 should appear at the top of the results.
2. Confirm the branch is open by calling 91-9607101123 before stepping out, especially around public holidays.
3. Carry photo ID and any account-related documents you may need for the transaction you plan to do.

Most banking work — passbook updates, fund transfers, statement downloads — can also be completed online without visiting the branch in person, as long as you know the IFSC MAHB0001123 and your account number.

Verifying IFSC MAHB0001123 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 MAHB0001123 by:

• Looking at the cheque leaf – IFSC is printed near the MICR band.
• Opening the passbook's first page.
• Calling the branch directly on 91-9607101123.
• Visiting the bank's official branch locator page.

Working hours

Branch counters at Pargaon are usually open from 10 AM to 4 PM on weekdays. Saturdays follow the RBI's alternate-Saturday rule. Even when the branch is closed, NEFT, RTGS, IMPS and UPI transfers addressed to MAHB0001123 continue to work without interruption.

Branch address & contact

Frequently asked questions

Summary

The IFSC code MAHB0001123 belongs to Bank of Maharashtra's PARGAON branch, located at R.R.PATIL S HOUSE.,PARGAON,TEH.PARGHARDIST THANE in PARGAON, 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.