Bank of Maharashtra Home Loan – Interest Rates 2020, EMI Calculator

Bank of Maharashtra Home Loan (बैंक ऑफ़ महाराष्ट्र होम लोन) – Compare Interest Rates, MCLR Rates Online. Maha Bank home loan emi calculator, Documents, Eligibility, Application Status, Customer care number & Procedure information.

Special Offer

  • 2 EMI Free for Regular Housing Loan Account
  • Get Subsidy up to Rs. 2.67 Lakhs under Pradhan Mantri Awas Yojana (PMAY) T&C Apply

Bank of Maharashtra Home Loan Highlights

Interest Rates 7.05% – 8.45%
Processing Fees As applicable at the time of disbursement
Pre payment Charges Nil
Lowest EMI Rs.669
Min. Income Rs.10000/- p.m
Loan Repayment 1 to 30 years

Home Loan applications received for rupees ₹ 419,027 crores till 20 October 2020

Apply for Home Loan & Check your CIBIL score absolutely FREE.

Loan Amount
Occupation

Annual Income

City

120,17,256 loan quotes taken till now.
Home loan Interest rates starts from 6.90% for women, 6.95% for Others.

All Individuals, Salaried employee with min 1 year job in current company or organization (State /Central Government / Public / Private Sector Companies of repute), Self-Employed Professionals, Businessman, Pensioners with account in Bank of maharashtra, Farmers having minimum land of 5 Acres.

Bank of Maharashtra Housing Loans Interest Rates 2020

  1. Interest Rates Upto 30 Lakh = 7.15% – 7.50%
  2. Interest Rates 30 – 75 Lakh = 7.15% – 8.20%
  3. Interest Rates Above 75 Lakh = 7.15% – 8.45%

7.05% Rate for CIBIL Score of 750 and above.

If deductions are considered over & above 60% of Gross income, an additional spread of

0.25% should be charged over and above the regular ROI applicable for the Housing Loan.

Maha Super Consumer Loan Scheme: Additional Bonanza for Borrowers under the scheme

In this scheme, borrower can get upto 10% of the total loan amount with a maximum limit of Rs.10.00 lakh

Documentation Charges – 0.10% of the loan amount or maximum upto Rs.10,000/-

Eligible criteria for Maha Bank housing loan scheme

Salaried borrowers can get : 60 times of Gross Monthly Salary/ 75 times of Net Monthly Salary (Whichever is Higher) as per maha bank norms.

Others Businessmen/Professionals can get upto 5 times of last 2 years average Income based on IT Returns

If borrower looking for the purchase of Plot & Construction flat/ site: 70% of the cost (registered value) of Plot after complying with Net Take Home Pay/Income norms. Plot on standalone basis should not be financed. Cost of the Plot should not exceed 75% of the total cost of housing unit

Bank of Maharashtra home loan emi calculator

Bank of Maharashtra Home loan emi calculator helps you to know how much emi per month you have to pay against the loan taken for purchasing the new Home. you can select or choose the right loan amount as per your financial condition and it helps you in selecting the Home variant as per your paying capacity of EMI. For calculation you have to just select the right loan amount, Interest Rate and Repayment period.

Calculate Loans EMI Online

Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Total Interest Amount
Yearly Interest Amount

For calculate loan emi –
1. Enter loan amount
2. enter interest rates
3. Enter loan tenure (for how much time you need a loan)

For an example, You can take a loan amount of Rs.15 lakh for 15 years repayment period at 7.15% rate of interest than your emi calculations are as follows:

  • Loan Amount = Rs. 15,00,000
  • Monthly Installment (EMI) = Rs. 13,609
  • Total Interest Amount = Rs. 9,49,535
  • Total Amount (Principal + Interest) = Rs. 24,49,535
Year Principal Interest Balance Amount
1 Rs. 57,930 Rs. 105,378 Rs. 1,442,070
2 Rs. 62,214 Rs. 101,094 Rs. 1,379,856
3 Rs. 66,809 Rs. 96,499 Rs. 1,313,047
4 Rs. 71,746 Rs. 91,562 Rs. 1,241,301
5 Rs. 77,046 Rs. 86,262 Rs. 1,164,255
6 Rs. 82,740 Rs. 80,568 Rs. 1,081,515
7 Rs. 88,855 Rs. 74,453 Rs. 992,660
8 Rs. 95,418 Rs. 67,890 Rs. 897,242
9 Rs. 102,472 Rs. 60,836 Rs. 794,770
10 Rs. 110,041 Rs. 53,267 Rs. 684,729
11 Rs. 118,173 Rs. 45,135 Rs. 566,556
12 Rs. 126,904 Rs. 36,404 Rs. 439,652
13 Rs. 136,282 Rs. 27,026 Rs. 303,370
14 Rs. 146,352 Rs. 16,956 Rs. 157,018
15 Rs. 157,098 Rs. 6,144 Rs. 0

Other Products of Bank of Maharashtra:-

Customer care number or Toll Free number for Maha Bank Home Loans – 1800-233-4526 / 1800-102-2636

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