The Bank of Maharashtra Home Loan is a trusted and affordable housing finance solution offered under the Maha Super Housing Loan Scheme. Designed to support every stage of homeownership, the scheme covers the purchase of ready-to-move-in or resale houses, construction on owned plots, the purchase of plots with construction, home extensions, repairs, renovations, and balance transfers.
Bank of Maharashtra stands out by offering one of the lowest home loan interest rates in India, flexible repayment tenures of up to 30 years, and a customer-friendly repayment structure. The bank also provides special interest concessions for women borrowers and defence personnel, making it an inclusive and cost-effective option. With transparent charges, no prepayment penalties, and a strong nationwide branch network, Bank of Maharashtra continues to be a preferred lender for both first-time buyers and experienced homeowners.
Bank of Maharashtra Home Loan Highlights
The Bank of Maharashtra Home Loan stands out for its borrower-centric features and competitive pricing.
| Feature | Details |
| Scheme Name | Maha Super Housing Loan |
| Interest Rate | Starting from 7.10%* p.a. |
| Interest Type | Floating (Repo Linked Lending Rate) |
| Maximum Loan Tenure | Up to 30 years |
| Maximum Age at Maturity | 75 years |
| Loan-to-Value (LTV) | Up to 90% (loan up to ₹30 lakh) |
| Processing Fee | 0.25% of loan amount |
| Prepayment / Foreclosure Charges | Nil |
| Special Concessions | 0.05% interest concession for women & defence personnel |
Bank of Maharashtra Home Loan Interest Rates
Bank of Maharashtra home loan interest rates are RLLR-based, ensuring faster transmission of RBI rate cuts to borrowers.
| Loan Scheme | Interest Rate (p.a.) |
| Maha Super Housing Loan | 7.10%* onwards |
| Home Loan Top-Up | Home loan rate + 0.20% |
Note: Actual interest rates depend on credit score, income profile, loan amount, and repayment capacity.
| Factors Influencing Bank of Maharashtra Home Loan Interest Rates
The interest rate on a Bank of Maharashtra Home Loan is based on transparent benchmarks and borrower credentials.
|
Bank of Maharashtra Home Loan Processing Fee & Charges
The bank follows a transparent pricing policy with frequent fee waivers.
| Charges | Amount / Details |
| Processing Fee (General) | 0.25% of the loan amount (Max ₹25,000) |
| Processing Fee (Repair Loan) | 0.25% (Min ₹1,000; Max ₹25,000) |
| Account Handling Charges (Repair Loan) | ₹500 + 0.10% of sanctioned amount (Max ₹11,000) |
| Prepayment / Part Payment Charges | Nil |
| Foreclosure Charges | Nil |
| Special Waivers | Available for govt. employees & takeover cases |
Compare Bank of Maharashtra Home Loan Interest Rates with Top Lenders
Below is a comparative view of Bank of Maharashtra Home Loan interest rates with other leading banks and financial institutions in India:
| Bank / NBFC | Home Loan Interest Rate (p.a.) |
| Bank of Maharashtra Home Loan | 7.10%* onwards |
| State Bank of India Home Loan | 7.50%* onwards |
| Bank of Baroda Home Loan | 7.45%* onwards |
| Union Bank of India Home Loan | 7.45%* onwards |
| ICICI Bank Home Loan | 7.65%* onwards |
| HDFC Bank Home Loan | 7.90%* onwards |
| Axis Bank Home Loan | 8.35%* onwards |
| Kotak Mahindra Bank Home Loan | 7.70%* onwards |
| IDFC First Bank Home Loan | 8.85%* onwards |
| Standard Chartered Home Loan | 7.99%* onwards |
Note: Interest rates are indicative and subject to change as per lender policies and borrower credit profile.
Also Read: All Bank Home Loan Interest Rates
Bank of Maharashtra Home Loan Eligibility Criteria
To avail a home loan from Bank of Maharashtra, applicants must meet the bank’s eligibility norms related to age, income, employment type, and credit profile. These criteria help the bank assess repayment capacity and determine the loan amount and interest rate.
Eligibility Requirements
- Applicant Type: Resident Indians, NRIs, PIOs, and OCIs
- Age Limit: Minimum 21 years at loan application; maximum 75 years at loan maturity
- Employment Status:
- Salaried individuals (minimum 1 year of service)
- Self-employed professionals and business owners
- Pensioners
- Income Criteria: Stable and sufficient income as per bank norms
- Credit Score: A good credit score improves loan eligibility and helps secure lower interest rates
- Co-applicant: All property co-owners must be co-applicants; adding a co-applicant can enhance eligibility
Get Home Loan with less interest rates
By entering your number, you're agreeing to Terms & Conditions and Privacy Policy.
Documents Required for Bank of Maharashtra Home Loan
Applicants must submit a set of standard documents to enable Bank of Maharashtra to verify identity, income, and property details. Providing complete and accurate documents helps ensure faster processing and approval of the home loan.
Identity & Address Proof
- PAN Card (mandatory)
- Aadhaar Card
- Passport / Voter ID / Driving Licence
Income Proof
For Salaried Applicants
- Salary slips for the last 3 months
- Form 16
- Income Tax Returns (last 2 years)
For Self-Employed Applicants
- Income Tax Returns (last 2–3 years)
- Profit & Loss Account
- Balance Sheet
Bank Statements: Bank statements for the last 6–12 months
Property Documents
- Agreement of Sale / Allotment Letter
- Approved building or construction plan
- Cost estimate from architect or builder
- Title documents of the property
Additional Documents for NRIs
- Valid visa and work permit
- Employment contract or appointment letter
- Overseas and NRE bank account statements
Types of Bank of Maharashtra Home Loans
The Bank of Maharashtra offers a wide range of home loan options under its Maha Super Housing Loan Scheme, catering to different housing needs such as buying, building, renovating, or transferring an existing home loan. Each loan type is designed with flexible tenure, competitive interest rates, and borrower-friendly terms.
Overview of Bank of Maharashtra Home Loan Types
| Home Loan Type | Purpose |
| Construction / Acquisition Home Loan | Purchase or construction of residential property |
| Plot Purchase & Construction Loan | Purchase of a plot and construction of a house |
| Home Repair & Renovation Loan | Repair, renovation, and improvement of the existing house |
| Home Extension Loan | Expansion of existing residential property |
| Home Loan Top-Up | Additional loan for existing home loan customers |
| Home Loan Takeover (Balance Transfer) | Transfer of an existing home loan from another lender |
Get Home Loan with less interest rates
By entering your number, you're agreeing to Terms & Conditions and Privacy Policy.
1. Construction / Acquisition Home Loan
This is the most commonly availed home loan offered by Bank of Maharashtra. It is suitable for borrowers who want to:
- Purchase a new or resale flat/house
- Construct a residential house on an owned plot
- Extend an existing residential unit
Key Features:
- High loan-to-value (LTV) ratio
- Long repayment tenure up to 30 years
- Competitive interest rates linked to the repo rate
- No prepayment or foreclosure charges
2. Plot Purchase & Construction Home Loan
This loan is ideal for borrowers planning to buy a residential plot and construct a house on it.
Key Features:
- Single loan for plot purchase and construction
- Construction must generally begin within a specified period
- Moratorium of up to 18 months during construction
- Interest is payable only on the disbursed amount during the moratorium period
3. Home Repair & Renovation Loan
This loan helps homeowners maintain or upgrade their existing property.
Purpose Covered:
- Painting, flooring, tiling
- Plumbing and electrical work
- Waterproofing and structural repairs
Key Features:
- Loan amount up to 25% of the property value
- Can cover up to 100% of the actual repair cost
- Shorter tenure compared to regular home loans
- Simple documentation
Get Home Loan with less interest rates
By entering your number, you're agreeing to Terms & Conditions and Privacy Policy.
4. Home Extension Loan
The Home Extension Loan is suitable for borrowers who want to expand their existing home.
Use Cases:
- Adding extra rooms
- Constructing additional floors
- Expanding kitchen or living areas
Key Features:
- Financing for permanent structural expansion
- Repayment tenure aligned with the borrower’s age and income
- Lower interest rates compared to personal loans
5. Home Loan Top-Up
Existing Bank of Maharashtra home loan customers can avail a Top-Up Loan for additional funding needs.
Key Features:
- Available only to existing home loan borrowers
- The interest rate is slightly higher (around 0.20%) than a regular home loan
- Can be used for personal needs, education, renovation, or other expenses
- Minimal documentation and faster processing
6. Home Loan Takeover / Balance Transfer
This facility allows borrowers to transfer their existing home loan from another bank or housing finance company to Bank of Maharashtra.
Key Benefits:
- Lower interest rates compared to many private lenders
- No foreclosure or prepayment charges
- Option to avail a top-up loan along with a transfer
- Potential savings on total interest outgo
Get Personal Loan Online Up to ₹15 Lakhs
By entering your number, you're agreeing to Terms & Conditions & Privacy Policy.
Bank of Maharashtra Home Loan EMI Calculator
The EMI calculator helps borrowers estimate monthly instalments before applying.
Steps to Use the EMI Calculator
- Visit the official Bank of Maharashtra Home Loan page
- Enter the loan amount
- Input applicable interest rate
- Choose preferred loan tenure
Click Calculate to view EMI and total interest payable
Check: Home Loan EMI Calculator
Apply for Bank of Maharashtra Home Loan
Borrowers can apply for a Bank of Maharashtra Home Loan through online or offline channels, making the process convenient and flexible for all applicants.
Application Process
- Visit the Official Website or Nearest Branch
Start by visiting the official Bank of Maharashtra website or walking into your nearest branch to initiate the home loan application. - Click on “Apply Online.”
On the website, navigate to the Home Loan section under Personal Banking and select the Apply Online option to begin the digital application process. - Fill in Personal, Income, and Property Details
Enter basic personal information, employment and income details, and information related to the property you wish to purchase, construct, or renovate. - Upload or Submit Required Documents
Upload scanned copies of KYC, income proof, bank statements, and property documents online, or submit physical copies at the branch. - Get In-Principle Approval
Based on your preliminary details and credit profile, the bank provides an in-principle approval, giving you clarity on loan eligibility and amount. - Property Valuation & Legal Verification
The bank conducts technical valuation and legal checks of the property to ensure clear ownership and compliance. - Loan Sanction & Disbursement
After successful verification, the loan is sanctioned, and the approved amount is disbursed, either in full or in stages, typically within 3 to 10 working days.
Get Home Loan with less interest rates
By entering your number, you're agreeing to Terms & Conditions and Privacy Policy.
Track Bank of Maharashtra Home Loan Application Status
Applicants who have applied for a home loan with Bank of Maharashtra can conveniently track their application status online. The bank provides a simple digital tracking facility that helps borrowers stay updated at every stage of the approval process.
Steps to Track Home Loan Application Status
- Visit the Official Website
Go to the official Bank of Maharashtra website and navigate to the home loan or loan services section. - Click on “Track My Loan.”
Select the Track My Loan option available under the Personal Banking or Loans menu. - Enter Application Details
Provide your Application ID or the registered mobile number used at the time of applying for the home loan. - View Real-Time Status
Once submitted, you can view the real-time status of your application, such as document verification, property evaluation, sanction, or disbursement stage.
Bank of Maharashtra Home Loan Customer Care
For any queries, assistance, or support related to home loan applications, repayment, or account services, Bank of Maharashtra offers dedicated customer care channels through its head office, phone support, and official website to ensure timely and reliable help for borrowers.
| Contact Type | Details |
| Head Office Address | Lokmangal, 1501, Shivajinagar, Pune – 411005 |
| Customer Care Numbers | 020-25514501 to 25514505 |
| Official Website | bankofmaharashtra.bank.in |
Download the Buddy Loan App Now!
One solution to each of your financial needs at your fingertip.
Scan to download now
