Bank of Maharashtra Home Loan
Bank of Maharashtra Home Loan
Bank of Maharashtra home loans with attractive interest rates starting at 8.35% per annum make it easier for you to achieve your dream of owning a home. With a maximum loan tenure of up to 30 years, you can choose a repayment plan that fits your financial situation. Women borrowers and defense personnel can enjoy an additional concession of 0.05% on home loan interest rates from the Bank of Maharashtra. Whether you're purchasing a new home or refinancing an existing one, the Bank of Maharashtra provides tailored solutions to meet your needs.
Bank of Maharashtra Home Loan
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Bank of Maharashtra Home Loan EMI Calculator
Your Monthly EMI
₹ 77,530
Total Principal
₹ 1,00,00,000
Total Interest
₹ 86,07,174
Total Payable
₹ 1,86,07,174
Bank of Maharashtra Home Loan Key Highlights
Loan Amount Up to 90% of the property value
Rate of Interest 8.35%
11.15% per annum
Processing Fee 0.25% of the loan amount + GST
Maximum Tenure for Repayment 30 years
Rate Packages Fixed/ Floater
Charges for Prepayment/Foreclosure Nil
Bank of Maharashtra Home Loan Interest Rates in 2026
Bank of Maharashtra offers competitive interest rates on home loans, making homeownership more affordable for a wide range of borrowers. With flexible rate options and attractive terms, the bank ensures that you can find a mortgage plan tailored to your financial needs. The minimum Bank of Maharashtra Bank home loan interest rate starts from 8.35% per annum.
Listed below are the Bank of Maharashtra Bank home loan interest rate 2026 for various housing loan schemes offered by the bank:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Maha Super Housing Loan for Construction | 8.35% - 11.15% p.a. |
| Maha Super Housing Loan for Plot Purchase and Construction | 8.35% - 11.15% p.a. |
| Maha Super Housing Loan for Repairs | 8.35% - 11.15% p.a. |
| Maha Super Flexi Housing Loan | 8.35% - 11.15% p.a. |
| Maha Top-Up Housing Loan Scheme | 8.35% - 11.15% p.a. |
Bank of Maharashtra Home Loan Eligibility Criteria
When considering a home loan with the Bank of Maharashtra, understanding the eligibility criteria is essential to streamline your application process. Factors such as age, income, and credit score play a pivotal role in determining your loan approval.
Let us walk you through the key requirements to understand the home loan eligibility Bank of Maharashtra:
For Salaried Individuals
Age Range (in years)
21 - 65
Nationality
Indian Residents/ NRIs/ PIOs
Minimum Income
Rs. 3 lakh per year
For Self-Employed Individuals
Age Range (in years)
21 - 65
Nationality
Indian Residents/ NRIs/ PIOs
Minimum Income
Rs. 3 lakh per year
Bank of Maharashtra Home Loan Processing Fee and Charges
Bank of Maharashtra home loans come with transparent processing fees and charges, ensuring you know the costs involved upfront. These fees cover the administrative and legal processes required for loan approval. Understanding these charges helps you make informed decisions as you move forward in your home-buying journey. The table highlights the updated Bank of Maharashtra Bank home loan processing fees and charges for 2024:
| Processing Fee | 0.25% of the loan amount + GST |
| CERSAI Charges | As per actuals |
| Part-Prepayment Charges | Nil |
| Foreclosure Charges | Nil |
Bank of Maharashtra Home Loan Schemes and Top Plans
To help different types of home loan aspirants, the Bank of Maharashtra offers varied housing loan schemes that are mentioned below:
- Best housing loan for construction of a residential unit on an owned land or plot
- Available to Indian citizens, NRIs and PIOs
- Maximum loan amount up to Rs. 30 lakh
- Ideal for plot purchase and construction thereon
- Available to Indian citizens, NRIs and PIOs
- Maximum loan amount up to Rs. 30 lakh
- Most suitable housing loan scheme for repairs and renovations of existing house
- Available to Indian citizens, NRIs and PIOs
- Maximum repayment period of 20 years
- Interest rates are 0.25% more than Maha Super Housing Loan Scheme
- Available to Indian Citizens, NRIs, and PIOs
- Up to 90% of the property value is the maximum loan amount
- Interest rates are 20 bps more than Maha Super Housing Loan Scheme
- Available to Indian Citizens, NRIs, and PIOs
- Flexible repayment terms
* Note: All of the above home loan plans are made available to applicants solely at the discretion of Bank of Maharashtra Home Loan, taking into consideration the earning and repayment capacity of the applicant.
Documents Required for Bank of Maharashtra Home Loan
Applying for a home loan with the Bank of Maharashtra requires submitting key documents that verify your identity, income, and property details. These documents ensure a smooth processing of your loan application, enabling the bank to assess your eligibility accurately. Knowing the required paperwork in advance can help you prepare and expedite the loan approval process. Hence, you are advised to go through the Bank of Maharashtra home loan documents list shared below for salaried and self-employed applicants before applying for a home loan:
| Proof of Income |
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| Other Required Documents |
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| Proof of Income |
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| Other Required Documents |
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| Identity & Address Proof |
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| Documents Related to Property |
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Apply Home Loan Through BASIC Home Loan
Give wings to your dreams to buy or renovate a home with easy housing loan schemes from reliable financial institutions like the Bank of Maharashtra. The procedure for Bank of Maharashtra home loan apply is simple and can be done sitting in the comfort of
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