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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.
|
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 |
|
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% |
|
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% |
|
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 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.
|
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 |
|
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 |
|
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 |
|
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. |
|
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 |
|
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 |
|
Parameter |
Details |
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