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Range of Interest Rate

8.40% Onwards

Processing Fee Range

NIL

Loan Amount

Range of Loan Tenure

1-30 years

 

Key Salient Features

  • No guarantor required
  • ZERO part payment fee
  • NIL pre-closure fee for floating interest rate

 

Documentation

  • KYC– Aadhar Card and PAN Cardd
  • Financial– Bank statement, Salary slips, latest form 16
  • Property– Allotment Letter and Registered Sale Deed
  • To learn more about documentation in detail please click the link

 

Trivia

  • The total number of HDFC Bank Branches in India is 2263
  • Average loan approval time is 3-7 working days

USP’s

Doorstep Service

Dedicated Relationship Manager

Minimum Documentation

Fastest Sanction Process

 

Fee and Charges Details

  • ZERO processing fee charges and no pre-closure or part payment fees

Disclaimer

  • All intellectual property including trademarks, logos belong to the owner
Other Key Information:
Particulars Salaried Self-Employed
Age 21 to 60 years 21 to 65 years
Prepayment Charges/Foreclosure Zero Zero

FAQs

How do you apply for a Bank of Maharashtra Home Loan?

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 
What is the list of documents required to be submitted while applying for a Bank of Maharashtra Home Loan?

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

 

KYC Documents

Aadhar Card, PAN Card
Voter’s ID, Driving License
Electricity Bill, Photo ID Cards issued by the State or Central Government
Application form duly filled with passport-size photos of applicants and co-applicants

KYC Documents

Salaried
  • The previous three months’ salary slips and
    the Latest Form-16
  • Latest 2 years Form 16
  • IT Returns for the last three years
Self-Employed/Professional
  • Business Profile of the Applicant
    Latest 3 years ITR with Computation of Income
  • Balance Sheet, Profit, and Loss Account, and respective schedules
  • GST Registration Certificate, GSTR-3B Returns of
    latest 1 Year, and GSTR-3B Returns of latest 1 Year
    Company Udhyam certificate

Property Documents

Registered Sale Deed, and Draft Sale deed agreement/document copies
Allotment Letter, NOC (No Objection Certificate) from Society/Builder
Receipts of payments made to the Real Estate developer
Why should you choose Bank of Maharashtra Home Loan?

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.

How long does it take to get a Bank of Maharashtra Home Loan sanctioned?

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.

What is the minimum CIBIL score required to secure a Bank of Maharashtra 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.

What is the maximum and minimum loan amount sanctioned by the Bank of Maharashtra?

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

Is a co-applicant mandatory for a Bank of Maharashtra Home Loan?

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.

How frequently will my rate of interest change during the tenure of a Bank of Maharashtra home loan?

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.

Am I eligible for a Bank of Maharashtra Home loan if I do not have my returns for three financial years?

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.

How soon can I get my Bank of Maharashtra Home loan disbursed after it is sanctioned?

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.

Other information about Bank of Maharashtra:

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. 

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EMI Calculator

Loan Amount

Rate of Interest

%

Loan Tenure (Years)

Years

Monthly EMI

21,617

Principal Amount

25,000,000

Interest Amount

23,000,000

Total Amount Payble

47,000,000

Interest Amount

Principal Amount

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5/5

Hi, The new feature on Loan Bazaar Website, providing the facility to view the Home Loan Amortization Schedule is really wonderful. This will actually reduce paper wastage, telephone calls to be made and the waiting time for receiving the revert from Banker. It is quite an innovative move. Keep it up! Happy Diwali to one and all!

Shivam Sharma

5/5

Was struggling to get loan for my home from last 3 months, suddenly one day I found Loan Bazaar on google who is one of the most well known DSA for home loan. They offered me doorstep service and with the limited paper work, they santioned my loan within 7 days. Thanks to Loan Bazaar.

Aruna Kate

5/5

I work for an MNC financial services company in the customer service department and I must say that Loan Bazaar has one of the most user friendly website and EMI Calculator. Well done! In an endeavour to automate, My first visit to the website has been a pleasurable one!

Yash Sharma

5/5

Loan Bazaar Team’s commitment shown on the job are enthusing. I had opted for a switch over on HL recently and been able to get best possible attention and faster clearance over my request. Kudos Loan Bazaar…

Babu Patil

5/5

A very helpful and a very patient team . My special thanks to Mr.Jitendra Sharma and Ms.Kanchan for their support . Dont worry about loan just contact this team they have solution for all .Once again thank you all

Dr.Abhijeet Kumar

5/5

I recommended their services to a friend of mine, and the services given were excellent. Very professional team, with polite and helpful approach. Highly recommended

Jayesh Shah

5/5

Hi, The new feature on Loan Bazaar Website, providing the facility to view the Home Loan Amortization Schedule is really wonderful. This will actually reduce paper wastage, telephone calls to be made and the waiting time for receiving the revert from Banker. It is quite an innovative move. Keep it up! Happy Diwali to one and all!

Shivam Sharma

5/5

Was struggling to get loan for my home from last 3 months, suddenly one day I found Loan Bazaar on google who is one of the most well known DSA for home loan. They offered me doorstep service and with the limited paper work, they santioned my loan within 7 days. Thanks to Loan Bazaar.

Aruna Kate

5/5

I work for an MNC financial services company in the customer service department and I must say that Loan Bazaar has one of the most user friendly website and EMI Calculator. Well done! In an endeavour to automate, My first visit to the website has been a pleasurable one!

Yash Sharma

5/5

Loan Bazaar Team’s commitment shown on the job are enthusing. I had opted for a switch over on HL recently and been able to get best possible attention and faster clearance over my request. Kudos Loan Bazaar…

Babu Patil

5/5

A very helpful and a very patient team . My special thanks to Mr.Jitendra Sharma and Ms.Kanchan for their support . Dont worry about loan just contact this team they have solution for all .Once again thank you all

Dr.Abhijeet Kumar

5/5

I recommended their services to a friend of mine, and the services given were excellent. Very professional team, with polite and helpful approach. Highly recommended

Jayesh Shah