Bank of Maharashtra Home Loan - Interest Rate

Updated on 10 Mar 2026Written by Ramandeep Sadana,Credit Expert with over 10 years of experience

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Bank of Maharashtra provides home loans with competitive interest rates starting from 7.35% per annum. As a public sector bank, it offers transparent pricing, zero processing fees until December 2025, and no prepayment charges. The bank serves salaried individuals, self-employed professionals, agriculturists, and NRIs with loan amounts covering up to 90% of property value. Repayment tenures extend up to 30 years, making monthly installments affordable. Women borrowers and defense personnel receive an additional 0.05% interest rate concession. The bank's flagship Maha Super Housing Loan Scheme covers property purchase, construction, renovation, and plot purchase with construction, making it suitable for diverse homeownership needs.

Bank of Maharashtra Home Loan Highlights

Parameter	Details
Starting Interest Rate	7.35% p.a.
Interest Rate Range	7.35% - 10.95% p.a.
Maximum Loan Tenure	30 years or 75 years of age
Maximum LTV Ratio	Up to 90%
Processing Fee	NIL (waived till 31.12.2025)
Prepayment Charges	Zero for floating rate loans
Part-Payment Charges	Zero
Women Concession	0.05% rate reduction
Defense Personnel Concession	0.05% rate reduction
Minimum Annual Income	Rs. 3 lakh
EMI Waiver Benefit	Last 2-3 EMIs waived on regular repayment

Bank of Maharashtra Home Loan Interest Rates 2025

Interest Rates Based on CIBIL Score (Salaried)

CIBIL Score	Interest Rate (p.a.)
800 and above	8.10%
750 - 799	8.35%
725 - 749	8.60%
700 - 724	8.85%
Below 700	9.10% - 10.95%

Interest Rates Based on CIBIL Score (Self-Employed)

CIBIL Score	Interest Rate (p.a.)
800 and above	8.15%
750 - 799	8.40%
725 - 749	8.65%
700 - 724	8.90%
Below 700	9.15% - 10.95%

Women Borrowers Interest Rates

CIBIL Score	Interest Rate (p.a.)
800 and above	8.05%
750 - 799	8.30%
725 - 749	8.55%
700 - 724	8.80%
Below 700	9.05% - 10.90%

Note: Interest rates linked to Repo-linked Lending Rate (RLLR). Current RLLR: 9.05% p.a. (subject to change)

Bank of Maharashtra Home Loan vs Other Banks Comparison

Bank Name	Starting Interest Rate	Processing Fee	Prepayment Charges	Maximum Tenure
Bank of Maharashtra	7.35% p.a.	NIL (till Dec 2025)	Zero	30 years
SBI	7.50% p.a.	0.35% + GST	Zero (floating)	30 years
HDFC Bank	7.90% p.a.	Up to 0.50% + GST	Zero (floating)	30 years
ICICI Bank	7.70% p.a.	Up to 1% + GST	Zero (floating)	30 years
Axis Bank	8.35% p.a.	Up to 1% + GST	Zero (floating)	30 years
Bank of Baroda	7.45% p.a.	0.25% + GST	Zero (floating)	30 years
Punjab National Bank	7.45% p.a.	0.35% + GST	Zero (floating)	30 years
Canara Bank	7.65% p.a.	0.50% + GST	Zero (floating)	30 years

Key Advantage: Bank of Maharashtra offers processing fee waiver till December 2025 and additional concessions for women and defense personnel.

Why Choose Bank of Maharashtra Home Loan

Cost Benefits

Feature	Benefit
Zero Processing Fee	Save Rs. 10,000-25,000 on loan application
Zero Prepayment Charges	Pay off loan early without penalties
Low Documentation Charges	Only 0.10% (max Rs. 10,000)
EMI Waiver	Last 2-3 EMIs waived on timely payments
Women's Concession	Additional 0.05% interest rate reduction

Loan Features

Feature	Details
Maximum LTV	Up to 90% of property value
Minimum Down Payment	Just 10% of property cost
Loan Tenure Flexibility	1 to 30 years
Age at Maturity	Up to 75 years
Digital Application	Apply online through bank website
Doorstep Service	Documentation collection at home

Special Schemes

Scheme	Purpose
Maha Super Housing Loan	Purchase/construction/extension
Maha Super Flexi Loan	Overdraft facility on home loan
Top-Up Loan	Additional funds for existing borrowers
Maha Combo Loan	Housing + car loan together
Maha Ghar Loan	PMAY benefits with subsidy
Balance Transfer	Transfer from other banks

Bank of Maharashtra Home Loan Schemes

1. Maha Super Housing Loan - Purchase/Construction

Parameter	Details
Purpose	New/existing house purchase (less than 30 years old), construction, extension
Loan Amount (Salaried)	60x gross salary or 75x net salary (whichever higher)
Loan Amount (Self-Employed)	5x average annual income
LTV Ratio	Up to 90%
Tenure	1 to 30 years
Interest Rate	Starting 7.35% p.a.

2. Maha Super Housing Loan - Repairs/Renovation

Parameter	Details
Purpose	Repairs, alterations, renovation of existing property
Loan Amount	Up to 100% of actual cost or 25% of property value (whichever lower)
LTV Ratio	Based on latest valuation (not older than 3 months)
Tenure	Up to 20 years
Interest Rate	0.20% higher than regular housing loan

3. Maha Super Housing Loan - Plot + Construction

Parameter	Details
Purpose	Purchase of plot and construction within 2 years
Loan Component	Composite loan for both plot and construction
Maximum Loan	Up to Rs. 30 lakh for plot purchase
Construction Timeline	Must complete within 2 years
Tenure	Up to 30 years

4. Top-Up Loan

Parameter

Details

Ambak Benefits

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