The Bank of Maharashtra offers personal loans at highly affordable interest rates starting from 10.00% per annum. You can avail a quick personal loan and cover all the emergency expenses with ease. The flexible repayment period, low processing fee, and minimal documentation make Maharashtra Bank Personal Loan a a unique and most opted financial option.
Apply for a Maharashtra Bank Personal Loan today!
Get a personal loan from Bank of Maharashtra effortlessly and take control of your finances. Here's a detailed breakdown of their personal loan interest rates.
|Personal Loan Interest rate
|₹3 Lakhs p.a.
|1.00% of the loan amount + GST
Know the important charges involved in the loan offer including the interest rates and processing fees to make the best choice for your financial potential. The following table shows the Bank of Maharashtra personal loan interest rates and processing fees.
|Rates & Charges
|Mahabank Personal loan Interest Rate
|From 10.00% to 12.80% p.a.
|1% of the loan amount + GST
|0.20% of the loan amount + GST
Considering a personal loan from the Bank of Maharashtra? Use the Personal Loan EMI Calculator to quickly determine your monthly instalment. Just enter your loan amount, interest rate, and tenure for instant calculation. Take control of your finances with this user-friendly tool and make informed decisions regarding personal loans.
The eligibility criteria vary from lender to lender for instant loans. Before applying for a personal loan, check the eligibility and assess your eligibility for the loan. Given below are some of the common eligibility criteria for Bank of Maharashtra personal loans.
|General Eligibility Criteria
|Salaried or business owners
|21 to 65 years
|Minimum annual income of 3 lakhs
|Preferably above 750
Not sure of your credit score? Check now for free!
Keep the following documents handy for a smooth application process for a personal loan from the Bank of Maharashtra and fast approval.
|Identity Proof (any one)
|PAN Card, Driving License, Passport, Voter ID, Aadhar Card
|Address Proof (any one)
|Electricity Bill, Aadhar Card, Landline Bill, Voter ID, Photo ID issued by current employer
|Latest salary slips for the past 3 months,
Bank statement for the last 6 months,
IT returns of the last 2 years/Form 16 for last 2 years,
Employer's agreement for monthly instalment remittance, if possible.
|As per the scheme of loan
The Bank of Maharashtra offers four different types of personal loan schemes catering to the financial needs of specific borrowers categorised by their employment or income source.
When searching for personal loans, it's important to compare interest rates from different banks. This helps you understand the options better & check the table below for a suitable lender while comparing the interest rate and charges from the below pool of RBI approved lenders.
|Interest Rates (p.a.)
|Up to 1.50%
|10.95% - 12.55% p.a.
|Up to 1%
|10.75% p.a. onwards
|Up to 2.50%
|11.00% p.a. onwards
|Up to 2.50%
|10.25% p.a. onwards
|1.5% to 2%
|9.99% p.a. To 16.49% p.a.
|0.25% to 3.00%
|10.99% p.a. onwards
|2.50% (one-time fee)
Looking for a personal loan?
A personal loan with Mahabank offers the following exclusive benefits and features:
Get your loan approved
Get up to 7 years of
Can be used for a variety
The interest rates starting
from 10.00% p.a.
Get loan without risking
your valuable assets.
No hidden charges and
Want to apply for a quick loan? Here’s the step-by-step process that you can follow to apply for a personal loan from RBI-approved banks and NBFCs on Buddy Loan:
Take the next step!
Basic eligibility for Bank of Maharashtra Personal Loan includes age between 21-60 years, stable employment, and a good credit score.
The minimum and maximum loan amounts for Bank of Maharashtra Personal Loan range from Rs. 50,000 to Rs. 20 lakh.
Income requirements for Bank of Maharashtra personal loan include a minimum annual income of Rs. 3 lakhs.
Current interest rates on Bank of Maharashtra Personal Loans start from 10.00% p.a.
Bank of Maharashtra may have prepayment charges or penalties, depending on the loan terms, so it's advisable to check with the bank directly.
Yes, you can use the loan to consolidate existing debts, subject to approval and conditions.
In case of difficulties making EMI payments, it's crucial to contact the bank promptly to discuss possible solutions, which may include restructuring the loan or seeking a temporary relief plan.
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