When you apply for a Bank of Maharashtra Home  the following steps given below need to be followed:

1. Visit your nearest Bank of Maharashtra to fill the home loan application form
2. Submit the necessary documents like KYC, Financial, and Property documents 
3. The ban then initiates the loan processing along with legal and technical verification
4. The loan eligibility of the applicant is then determined by the Bank of Maharashtra. After which they will provide a sanction letter. It will include a few important details such as sanctioned loan amount, interest rate, loan tenure, type of interest rate applicable, EMI payable, validity of sanction letter, special conditions (if any), and other terms and conditions 
5. On submitting all the required documents and raising a home loan disbursement request, Bank of Maharashtra will initiate the process of issuing your home loan disbursement cheque 

When you apply for a Bank of Maharashtra Home Loan there are a few documents that you need to submit. They are as follows:

A major reason why you should opt for a Bank of Maharashtra Home Loan is because this financial institution provides for the lowest interest rates available. Besides, it also offers no charges on home loan processing.

After you submit a loan application along with the required paperwork, Bank of Maharashtra can take anywhere between 3 to 7 working days to evaluate and approve your home loan.

A minimum CIBIL score of 600 and above is what you need to have to apply for a Bank of Maharashtra Home Loan.

Usually, Bank of Maharashtra sanctions a home loan amount of up to 90% of the property.

It is not compulsory that you have a co-applicant while applying for an Bank of Maharashtra Home Loan. Moreover, having one helps in significantly improving your loan eligibility thereby proving to your lender that you are ‘Creditworthy’ and chances to improve terms and conditions.

Usually, once you secure a Bank of Maharashtra Home Loan you need to keep in mind that the rate of interest (ROI) will change depending on the type of ROI you choose. So, if you opt for a floating rate of interest then there will be changes. However, if you select a fixed rate of interest then there will be no change.

When you possess returns for three financial years it can help you secure a Bank of Maharashtra Home Loan with ease. Moreover, you need to understand that you can get a home loan from the Bank of Maharashtra despite not having income tax returns for three years. Provided you are seeking to take a small loan and you have a good CIBIL score to indicate to your lender that you are creditworthy.

After receiving sanction for a Bank of Maharashtra Home Loan it should take a maximum of 2-3 working days for it to get disbursed.

There are few additional facts about the Bank of Maharashtra Home Loan that you need to know given below. They are as follows:

• Types of Bank of Maharashtra Home Loan:

  There are three types of Bank of Maharashtra Home Loan available. They are as follows: 

  • Maha Super Housing Home Loan:

    This is a home loan package offered by Bank of Maharashtra to help you finance purchase/construction of new/existing property. 

  • Maha Super Housing Home Loan:

    It is a home loan scheme designed by Bank of Maharashtra to help you either purchase a plot or undertake construction. 

  • Maha Super Housing Home Loan:

     To help you with finances your need to renovate/repair or alter an existing house/flat Bank of Maharashtra offers you this Home Loan package. 

  • Maha Bank Top-up Home Loan: 

    Bank of Maharashtra presents to you this home loan scheme that you can take over and above existing loan for purposes of repair, renovation, and conducting extension of home. 

  • Maha Bank Top Up Loan for other purposes:

    In this home loan scheme Bank of Maharashtra helps you get a home loan over and above existing one to help you fulfill your financial needs for personal reasons such as medical emergencies, education etc. 

  • Maha Bank Super Flexi Housing Loan:

    This a Bank of Maharashtra Home Loan scheme which is an overdraft facility. It is a program in which borrowers can deposit surplus amounts in the linked overdraft account.