TATA CAPITAL
Check Eligibility, Get Instant Approval in 2 minutes and Disbursal in 3 Hrs*
10.99% - 29.00%
Upto 3.00%
Upto Rs.35L
Upto 6 Years
Apply Online for Bank of Maharashtra Personal Loan
Apply online for an Bank of Maharashtra and experience quick, hassle-free approval with minimal documentation. Bank of Maharashtra is designed to meet your financial needs, whether for home renovation, medical expenses, travel, or debt consolidation.
- Interest Rate 10.0% onwards
- Maximum Loan upto ₹ 20 lacs
- Processing Fees 1%
- Maximum Loan Tenure 0 to 7 years
1+ Million
Happy Customers
Rs. 250+ crore
Monthly Personal Loans Disbursal
Wide Range of 60+
Partner Banks & NBFCs
Support team 700+
Team Size of Experts
Eligibility Criteria for Bank of Maharashtra Personal Loan
You must meet the requirements listed below to be eligible for a personal loan from Bank of Maharashtra.
Age 21 should be the minimum for applicants.
The applicant's age should not be greater than 60.
The applicant should make between 2.50 lacs and 3 lacs rupees per year as a minimum income.
Two years at least in the same position
One year in the company.
Documents Required for Bank of Maharashtra Personal Loan
The Bank of Maharashtra Personal Loan documents to be presented while applying for personal loans.
The loan application is finished
Three passport-size photos
Identification documents with photos, such as a voter ID card, passport, driver's licence, or IT PAN card
A photocopy of a recent phone bill or an electricity bill is proof of residence.
Passbook and Account Statements for the Previous Six Months
For the past two fiscal years, salaried employees' Form 16/IT returns
IT returns over the past three years for independent contractors
Fees of Bank of Maharashtra Personal Loan
| Issue of cheque leaves | ₹ 5 per cheque leaf ₹ 100 for cheque book of 20 leaves |
| Account maintenance (ledger folio charges) | No charges |
| Cash deposit at the bank | No charges |
| Cash withdrawal from the bank | No charges |
| SMS alert | ₹ 15 per quarter |
| Change in address/mobile/email | Free for the first time, thereafter, ₹ 150 will be charged per occasion |
| Addition/deletion of names in the account | ₹ 200 per occasion |
| Change of signatures | ₹ 150 per occasion |
| Closing of account | Account closed within 14 days: No charges Closed within 15 days to 1 year: ₹ 500 |
| Inoperative charges | No charges will be levied irrespective of the balance in the account |
| Loss of token | ₹ 100 per lost token |
| Issuance of a new debit card | Classic contactless card: No charges Platinum card: ₹ 100 |
| Add-on debit card | ₹ 300 |
| Replacement of debit card | ₹ 200 |
| Reissue of hot-listed debit card | ₹ 200 |
| ATM charges | The first five transactions in a month are free Over and above the limit of transactions are chargeable. Financial transactions will be charged at ₹ 21 per transaction and non-financial transactions are free |
You can utilize the personal loan from the Bank of Maharashtra, which is an unsecured loan, to pay for various expenses. An extensive selection of loan products is available from the public-sector bank, Bank of Maharashtra. The Indian government holds 81.2% of the shares after the bank was founded in 1935. One of the bank's most popular offerings is the Maha Bank Personal Loan programme.
Feature and Benefits of Bank of Maharashtra Personal Loan
You can better understand the features and benefits of personal loans by keeping in mind the following essential points:
- Existing home loan borrowers can also avail loans from the bank.
- Only one guarantor is required for the application.
- It offers a flexible payment schedule.
- Loans are processed very quickly.
- Loans are offered with security.
- Loan funds can be used for personal purposes.
- Processing is faster than many other institutions.
- Bank of Maharashtra offers favorable interest rates.
- Accessible to all salaried workers and independent contractors, whether they are mortgage borrowers or not.
Frequently Asked Questions (FAQ)
-
What purposes is the loan amount eligible for?
Ans: The loan amount can be used for any legal personal expense. There are no restrictions from the bank, as long as the purpose is legitimate.
-
What conditions must be met to be eligible for a BOM Personal Loan?
Ans: The borrower must be between 21 and 60 years old. Existing salaried home loan borrowers and holders of corporate salary accounts are eligible. Applicants must also meet a certain income threshold to qualify.
-
What is the longest loan term available?
Ans: The maximum tenure duration for this personal loan programme is 84 months, offering a long and flexible repayment period.
1+ Million
Happy Customers
Rs. 250+ crore
Monthly Personal Loans Disbursal
Wide Range of 60+
Partner Banks & NBFCs
Support team 500+
Team Size of Experts
Bank of Maharashtra Personal Loan EMI Calculator
Amount
Tenure
% Interest
Principal
Interest
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