Frequently Asked Questions on Bank Maharashtra Personal Loan
How much interest is charged by Bank of Maharashtra on personal loan?
Bank Maharashtra personal loan interest rates today are 15.10% to 15.10%.
What is the lowest EMI per lakh on Bank of Maharashtra personal loan?
If you apply for a personal loan from Bank of Maharashtra, your lowest EMI per lakh will be Rs. 3,471.
What is the minimum and maximum tenure of Bank of Maharashtra personal loan?
You can repay your personal loan from Bank of Maharashtra in a flexible period of minimum 12 months to maximum 36 months.
How much personal loan amount I can borrow from Bank of Maharashtra?
Bank of Maharashtra offers you personal loan if you need a minimum amount of Rs. 50,000 to a maximum amount of Rs. 150,000.
How much processing fee is charged by Bank of Maharashtra on personal loan?
Bank of Maharashtra charges a processing fee of 1 %, Min- Rs. 1000 with applicable service tax.
Is age an eligibility factor to get personal loan from Bank of Maharashtra?
Yes, age is an important eligibility factor to get Bank of Maharashtra personal loan as you should be at least 21 years old at loan approval time and 60 years old at loan maturity time.
Are there any prepayment charges on Bank of Maharashtra personal loan?
You can take personal loan from Bank of Maharashtra with Prepayment charges vary by year: 2nd year - 4%; 3rd year - 3%, after 3 years - 2%.
Can I add my spouse's income while applying for personal loan from Bank of Maharashtra?
You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.
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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