Salaried persons, permanent in service / professionals having minimum income of Rs.3.00 lakh p.a.
In case of teacher/non teaching staff of educational institute drawing salary through the branches of our Bank Minimum annual income shell be Rs 2.00 lakh.
Age of Applicant: Minimum: 21 years and Maximum 60 years at loan maturity.
Minimum employment: For Service Persons: Minimum 5 years in employment and minimum 2 years in the current organization.
For Others: She/he must be in the business/profession for at least 3 years.
Individuals should be Income Tax assessed(s).
Security: CLEAN Loan is to be guaranteed by one acceptable guarantor.
Repayment: Maximum upto 3 years by monthly-equated installments.
Total deductions including proposed loan installment should not exceed 60% of Gross Income.
Processing fee: Processing charges shall be 1% subject to the minimum Rs.500/-.
Documents Required for Bank Maharashtra Personal Loan
Personal loan Bank of Maharashtra documents for salaried employees
Filled up loan application form
1 Passport Size Photo
Income Tax PAN Copy
Identity Proof - Driving License/ PAN/ Passport/ Voter ID
Residential Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill (upto 3 months old)
Income Documents - 2 years Form 16, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit
Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.
Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.
A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.
Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.
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