Bank of Maharashtra Home Loan

Buying your dream home has become simple and easy with a Bank of Maharashtra Home Loan. You can get a loan amount of up to 90% of the property’s value. Enjoy low interest rates starting from 8.35% p.a. You can repay the loan at your convenience over a flexible tenure of up to 30 years. Get this loan to buy, repair, or extend your home easily.

Here is an overview of the interest rates and other associated fees of a Bank of Maharashtra Home Loan:

*Disclaimer: The details mentioned are subject to change at the lender’s discretion.

Depending on the scheme you choose, the rates and charges may differ. Refer to the bank’s official website for further details.

The eligibility criteria for a Bank of Maharashtra Home Loan are as follows:

• You must be at least 21 years old

• Your age should not be over 75 years at the time of loan maturity

• You must be either salaried, self-employed, business owner, or agriculturist 

Alongside this, you must also provide the following documents:

• Duly filled and signed loan application form 

• Two passport-size photographs

• Identity Proof: Any one of the following:

  1. Aadhaar card

  2. PAN card

  3. Voter ID

  4. Driving licence

  5. Passport

  6. Employment ID

• Address Proof: Any one of the following:

  1. Utility bills (electricity or landline telephone)

  2. Aadhaar card

  3. Passport

  4. Driving licence

  5. Employment ID

• Property Documents:

  1. Sale agreement or sale deed

  2. Allotment letter

  3. Payment receipts of purchase of property 

  4. Approved drawings of the construction 

  5. Permission letter for construction

• Income Proof:

  1. For Salaried Applicants:

     • Last 3 months’ salary slip

     • ITR or Form 16 for the last 2 years

     • Bank statement for the last 6 months

  2. For Self-Employed Applicants:

  • Recent ITR for the last 3 years 

  • Profit and loss statement

  • Balance sheet 

  • Audit report 

  • Computation of income

  • Bank statements for the last 1 year 

  • Business registration licence

  • Tax registration copy

  • Shop Establishment Act

Do note that this is not the complete checklist of the documents required. Visit the official website of the Bank of Maharashtra to check the complete list.

Here are the steps to apply for a Bank of Maharashtra Housing Loan digitally:

• Visit the Bank of Maharashtra Home Loan webpage and click on ‘Apply Online’

• Now, select ‘Apply Now’ under the ‘Housing Loan’ option 

• If you are an existing account holder, choose ‘Yes’ and enter your CIF/account number and mobile number

• If you are not an existing account holder, enter your mobile number and register with an OTP

• Upload your personal, occupational and income details in the new window 

• Provide existing loan and deposit details you wish to declare

• Read the declaration and confirm by clicking the checkbox

• If you want to add co-applicants, click on ‘Yes’ and add all relevant details or select ‘No’

• Now share the loan and property-related details like the loan amount and tenure

• Select the closest branch to your location

• Complete eKYC verification with PAN number and more as per applicability

• You can now check loan offers created as per the information you entered

• Review the offer and click on ‘Apply for loan’

Once your application is submitted, download your Bank of Maharashtra Home Loan offer letter. Keep the application ID to easily track the status of your loan application. 

The information and suggestions provided by BFDL hereinabove is related to the Non-Partnered Banks/ NBFCs and is just for the purpose of information and under no circumstances the information provided hereinabove is intended to be source of advice or recommending any financial advice or endorsement of any sort. The information including interest rates or fees, loan amount and other charges with regard to any product, provided on this website is gathered through publicly available sources over the internet and is considered as accurate and reliable to the best of our knowledge. BFDL disclaims any responsibility or liability regarding inaccuracies, omissions, mistakes etc. as well as offers by the Non-Partnered Banks or NBFCs. The use of information set out is entirely at the User’s own risk and User should exercise due care prior taking of any decision, on the basis of information mentioned hereinabove. You are advised to visit/ contact the respective Banks/ NBFCs to verify the information before making any application or opening an account. Further, BFDL does not undertake any responsibility or liability to update this information. YOU ARE SOLELY RESPONSIBLE FOR ANY LIABILITY OR DAMAGE YOU INCUR THROUGH ACCESS TO OR USE OF THE SITE OR SUCH INFORMATION OR MATERIALS EXCEPT WHERE THE LAWS AND REGULATIONS OF A PARTICULAR JURISDICTION CONCERNING WARRANTIES CANNOT BE WAIVED. Additionally, display of any trademarks, tradenames, logo and other subject matters of intellectual property owners. Display of such Intellectual Property along with the related product information does not imply BFDL’s partnership with the owner of the Intellectual Property of such products.