Bank of Maharashtra Personal Loan: Details on Interest Rates, Documents, Eligibility, Processing Fees and EMI per lac Loan Amount.
The Main purpose of personal loan is to meet any personal expenses for purposes such as Medical Expenses, Expenses on Travel / Tour, Income Tax liability, etc.
- The loans are both for salaried and self employed.
- The loan tenure is 1 yr- 3yrs
- Loan amount = Maximum Up to Rs 150000.
- Personal loan interest rates – Click Here
-Salaried persons, permanent in service / professionals having minimum income of Rs.3.00 lakh p.a.
-In case of teacher/non teaching staff of educational institute drawing salary through the branches of our Bank Minimum annual income shell be Rs 2.00 lakh.
-Age of Applicant: Minimum: 21 years and Maximum 60 years at loan maturity.
- Minimum employment: For Service Persons: Minimum 5 years in employment and minimum 2 years in the current organization.
- For Others: He/She must be in the business/profession for at least 3 years.
- Individuals should be Income Tax assesses(s).
Security :CLEAN Loan is to be guaranteed by one acceptable guarantor.
Repayment:Maximum upto 3 years by monthly-equated installments.
Total deductions including proposed loan installment should not exceed 60% of Gross Income.
Processing fee: Processing charges shall be 1% subject to the minimum Rs.500/-.
Other Products of Bank of Maharashtra:-
Source: Bank of Maharashtra Website