Bank of Maharashtra provides home loans at an interest rate of 8.35% per annum for loan tenures of up to 30 years. Additionally, the bank offers the benefit of waiving off the last three EMIs on regular repayment of home loans. Furthermore, women applicants and defense personnel are eligible for a concession of 0.05% in home loan interest rates. The bank also extends the facility of home loan balance transfer and waives off processing fees for home loans transferred by government and PSU employees.
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Bank of Maharashtra Home Loan Highlights |
|
|---|---|
| Interest Rate | 8.35% - 11.15% p.a. |
| Loan Amount (LTV Ratio) | Up to 90% of the property value |
| Loan Tenure | Up to 30 years |
| Processing Charges | NIL |
Pre Approved Home loan | Check Eligibility & Apply Online
| Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh | |
|---|---|---|---|---|
| SBI Bank | 8.40% - 10.15% p.a. | 8.40% - 10.05% p.a. | 8.40% - 10.05% p.a. | Apply Now |
| HDFC Bank Limited | 8.40% p.a. onwards | 8.40% p.a. onwards | 8.40% p.a. onwards | Apply Now |
| Kotak Mahindra Bank | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| ICICI Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Federal Bank | 8.80% p.a. onwards | 8.80% p.a. onwards | 8.80% p.a. onwards | Apply Now |
| L&T Finance Limited | 8.60% p.a. onwards | 8.60% p.a. onwards | 8.60% p.a. onwards | Apply Now |
| Bajaj Housing Finance | 8.50% p.a. onwards | 8.50% p.a. onwards | 8.50% p.a. onwards | Apply Now |
| LIC Housing Finance | 8.35% - 10.35% p.a. | 8.35% - 10.55% p.a. | 8.35% - 10.75% p.a. | Apply Now |
| PNB Housing Finance | 8.50% - 14.50% p.a. | 8.50% - 14.50% p.a. | 8.50% - 11.45% p.a. | Apply Now |
| Punjab National Bank | 8.45% - 10.25% p.a. | 8.40% - 10.15% p.a. | 8.40% - 10.15% p.a. | Apply Now |
| Bank of Baroda | 8.40% - 10.65% p.a. | 8.40% - 10.65% p.a. | 8.40% - 10.90% p.a. | Apply Now |
| IDFC First Bank | 8.75% p.a. onwards | 8.75% p.a. onwards | 8.75% p.a. onwards | Apply Now |
| Tata Capital Housing Finance | 8.70% p.a. onwards | 8.70% p.a. onwards | 8.70% p.a. onwards | Apply Now |
| Axis Bank | 8.70% - 13.30% p.a | 8.70% - 13.30% p.a | 8.70% - 9.10% p.a. | Apply Now |
| Godrej Housing Finance | 8.55% p.a. onwards | 8.55% p.a. onwards | 8.55% p.a. onwards | Apply Now |
Also read: Best Home Loan in India
Bank of Maharashtra offers home loan interest rates starting from 8.35% per annum onwards. The interest rates are determined based on factors such as the applicant's CIBIL score, occupation profile, and the specific type of home loan scheme availed. Below are the interest rates set by Bank of Maharashtra for its various home loan schemes:
Purpose: Existing home loan borrowers of Bank of Maharashtra have the opportunity to benefit from the Maha Bank Top-up Loan scheme, allowing them to access additional funds beyond their existing home loans. These additional funds can be utilized to meet personal needs such as education expenses, wedding expenses, or medical treatment costs.
LTV ratio: The overall Loan-to-Value (LTV) ratio, which considers both the existing Bank of Maharashtra home loan and the Maha Bank Top-up Loan, cannot surpass 75% of the property's value. This evaluation is based on a valuation report that should not be older than 3 years.
Tenure: Up to 15 years or 75 years of age at the time of loan maturity
Purpose: The Maha Super Flexi Housing Loan Scheme offered by Bank of Maharashtra is a home loan overdraft facility. Under this scheme, home loan borrowers can deposit any surplus amount into the linked overdraft account. They can then withdraw funds from this account as per their needs, providing them with flexibility and convenience in managing their finances.
Loan Amount: Rs 50 lakh onwards
Tenure: Up to 30 years or up to 75 years of age of the borrower at the time of loan maturity
Purpose: Yes, consumers can avail the Maha Super Housing Loan Scheme from Bank of Maharashtra for the purchase of a plot and construction thereon. This scheme provides financing for both the purchase of the plot of land and the subsequent construction of a house on the purchased plot.
LTV Ratio:
For Plot Purchase- at least 30% of the value of the plot
For Construction of House-
| Up to Rs 30 lakh | Up to 90% |
| Above Rs 30 lakh | Up to 80% |
Purpose: Bank of Maharashtra provides the Maha Super Housing Loan Scheme for various purposes, including:
LTV Ratio:
| Up to Rs 30 lakh | Up to 90% |
| Above Rs 30 lakh and up to Rs 75 lakh | Up to 80% |
| Above Rs 75 lakh | Up to 75% |
Tenure: Up to 30 years or 75 years of age
Purpose: People looking to get a home loan from Bank of Maharashtra can also apply for Home Renovation Loans. This loan is meant for making repairs, renovations, or alterations to an existing house or flat.
Tenure: Up to 20 years
LTV Ratio:
Purpose: Existing home loan borrowers of Bank of Maharashtra have the option to apply for the Maha Bank Top-up Home Loan scheme. This scheme allows borrowers to obtain additional funds over and above their existing home loans. These funds can be used to meet various financial needs such as repair, renovation, extension, or furnishing of their home.
Tenure: Up to 15 years
Also Read : Best Home Loan EMI Calculator
| Home Loan Schemes | Processing Charges |
|---|---|
| Housing Loan | NIL |
| Maha Bank Top-up Loan | 0.50% of loan amount |
Also read: Best Home Loan Fees and Charges
Here are the eligibility criteria for salaried and self-employed individuals applying for a home loan from Bank of Maharashtra:
For Salaried Individuals:
For Self-Employed Individuals:
Also Read : Best Home Loan Eligibility
While Bank of Maharashtra hasn't listed the exact documents needed for home loans, most lenders usually ask for these:
For Salaried Individuals:
For Self-Employed Individuals:
Also Read : Best Home Loan Documents Required
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Shriram Finance provides insurance for the gold kept as collateral by you. This ensures that in the event of theft, the borrower doesn't need to worry about the security of the gold.
The interest rate starts from 11.4% per annum (*p.a.) and you can select a loan tenure ranging from 1 month up to 12 months.
Salaried individuals, self-employed professionals, business owners, and other individuals aged between 18 and 75 years can apply for Shriram Finance Gold Loan.
The minimum age requirement is 18 years, and the maximum age limit is 75 years at the time of loan maturity.