Illustration on Personal Loan Bank of Maharashtra
|Maximum Annual Percentage Rate (APR)||
15.77% to 15.77%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
Total amount borrowed: Rs. 100,000
Time period: 12 months to 36 months
Bank of Maharashtra Personal Loan Interest Rate: 15.10% to 15.10%
Processing Fee payable to Bank of Maharashtra: Upto Rs. 2,000. Current offer for processing fee is 1 %, Min- Rs. 1000
Fee payable to MyLoanCare: NIL
Total Monthly Cost – From Rs. 3,471 for a 36 months Rs. 100,000 loan at 15.10% (lowest rate, longest time period) to Rs. 9,031 for a 12 months Rs. 100,000 loan at 15.10% (highest rate, shortest time period). This is inclusive of principal repayment.
Annual Percentage Rate (APR) of charge including all applicable fees: 15.77% to 15.77%
Total cost payable over loan tenure: Rs. 10,367 for 12 months loan to Rs. 26,956 for 36 months loan
Bank of Maharashtra’s terms and conditions as per loan agreement applicable. Short term loans/ pay day loans not available; minimum loan tenure: 12 months. Rate of interest depends upon company categorization, income, job stability, loan amount, CIBIL score, credit profile, existing obligations, verification and other factors. Credit at sole discretion of Bank of Maharashtra.
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.
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.
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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