Bank Of Maharashtra Loan Details

By Author: Bijith
Total Articles: 8
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Maha Bank Home Loan Information

Construction/acquiring of new or existing house/flat and extension of existing house/flat.
Purchase of plot and construction thereon.
For Repairs /renovation/alterations of existing houses/flat for new standalone borrowers.
A Bank of Maharashtra home loan provides numerous benefits such as the facility to apply online, quick loan processing, attractive interest rates, customized repayment options, and simple & hassle-free documentation.

Features and Benefits
Low EMI
Higher Loan Amount
Track my Loan
Approved Projects
Simplified Disbursement
Zero Processing Fee
No Hidden Charges
No Prepayment Penalty

0.05% concession to women and defense personnel.
Maximum Tenure up to 30 Years / up to 75 years of age.
No Pre-Payment / Pre-closure / Part payment Charges.
Concession in ROI for Housing Loan borrowers in Car Loans & Education Loan.
Bank of Maharashtra Offers Lowest Interest Rate on Home Loan in India

Maha Super Housing Loan Scheme: for Construction/Acquiring of new or existing ...
... house/flat and extension of existing house/flat

Purpose: For construction/ acquiring new or existing houses/flats, not older than 30 years.
For Purchase of residential flats under construction /ready directly from the builders/ developers/society/other agencies/Development authority.
For extension (additional construction) in the existing house/flat
A takeover of existing Housing Loan accounts of the applicants under the standard category availed from other Banks / Housing Financial Institutions

Eligibility: Individual salaried employees/ self-employed professionals/Businessman / Agriculturist

Eligible Quantum of Loan: Maximum loan amount will be lowest of loan amount assessed based on

Permissible Deduction norms
Maximum permissible LTV ratio
Loan amount requested.

Moratorium Period: Maximum 36 months. However, interest may be capitalized for a maximum period of 18 months thereafter Interest is to be serviced as and when applied

Waiver of 3 EMIs:
1) First EMI waiver on completion of 5 years,
2) Second EMI waiver on completion of 10 years,
3) Third EMI waiver at the time of completion of loan tenure, where loan tenure is 15 years and above.

Other Guidelines :
a. Repayment track record should be satisfactory, in every stage of waiver i.e., the account should be standard without any overdue at any point of time during the full tenure of the loan.
b. The minimum loan tenure should be 15 years.

Maha Super Housing Loan Scheme: for Construction/Acquiring of new or existing house/flat and extension of existing house/flat

Purpose: For construction/ acquiring new or existing houses/flats, not older than 30 years.
For Purchase of residential flats under construction /ready directly from the builders/ developers/society/other agencies/Development authority.
For extension (additional construction) in the existing house/flat
The takeover of existing Housing Loan accounts of the applicants under the standard category availed from other Banks / Housing Financial Institutions

Eligibility:
Individual salaried employees/ self-employed professionals/Businessman / Agriculturist

Eligible Quantum of Loan:
The maximum loan amount will be the lowest loan amount assessed based on

Permissible Deduction norms
Maximum permissible LTV ratio
Loan amount requested.

Waiver of 3 EMIs: 1) First EMI waiver on completion of 5 years,
2) Second EMI waiver on completion of 10 years,
3) Third EMI waiver at the time of completion of loan tenure, where loan tenure is 15 years and above.

Other Guidelines :
a. Repayment track record should be satisfactory, in every stage of waiver i.e., the account should be standard without any overdue at any point of time during the full tenure of the loan.
b. The minimum loan tenure should be 15 years.

Maha Bank Personal Loan Information

Mahabank Personal Loan scheme is to cater to the requirements of meeting personal expenses. We offer fast processing of your loan. Now you need not postpone things on your bucket list! Also, you can transfer your existing high-interest Personal Loan to the Bank of Maharashtra as well. With fast approval, turn your dreams into reality!

Personal Loan Features and Benefits
Low EMI
Higher Loan Amount
Track my Loan
Simplified Disbursement
Minimal Documentation
Lowest Processing fee
No Hidden Charges
No Prepayment Penalty

Maha Bank Car Loan Information

Purchase of New four Wheeler i.e. Car, Jeep, Multi Utility Vehicles (MUVs),etc. for personal use. (i.e. not for hiring/ferrying passengers) for individuals (18 years and above)/ Companies and Corporate entities
Car Loan Features and Benefits
Low EMI
Higher Loan Amount
Track my Loan
Approved Car Dealers
Simplified Disbursement
Zero Processing Fee
No Hidden Charges
No Prepayment Penalty

Maha Bank Savings Account

If you're looking to start a new bank account you may want to begin with a Savings Account. The reason for doing this is that many banks offer an interest rate on the amount you save inside of your bank account which varies greatly based on what your goals are while also working alongside a deposit-raising program. To get started opening up an account, applying online is the simplest way to do so and takes only a short period as well.

Features and benefits of savings account

Tele Banking
SMS Banking
Mobile Banking
Internet Banking
Credit Card
Deposit Insurance
Fund Transfer
Bill Payment

Maha Gold Loan Scheme

To cater to the requirements of meeting personal expenditure of varied needs like marriage, higher education, medical emergencies, business travel, etc.

The purpose of the loan will have to be specified along with an undertaking that the loan will not be used for any speculative purposes.

Features and benefits of Gold Loan
Low EMI
Higher Loan Amount
Track my Loan
No Processing Fee up to 3 Lakhs