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Bank of Maharashtra Home Loan Rates

Bank of Maharashtra home loans rates are one of the most competitive and attention-grabbing rates in the Indian home loan market. If you want to go for a Bank of Maharashtra home loan to realize your dream of homeownership, you should have a fair understanding of Bank of Maharashtra home loans rates.

About Bank of Maharashtra home loans rates

Bank of Maharashtra has an array of loan products to meet many needs of the borrowers. The bank has an innovative range of home loan products available at affordable interest rates. The table given below will help you know about the interest rates charged by Bank of Maharashtra on home loan products with different tenures:

Rate of Interest:

Term Fixed/ Floating P.A. Up to and inclusive of 5 years Over 5 years and Up to and inclusive of 10 years Over 10 years but less than & inclusive of 20 years
Approved Loan amount up to Rs.30.00 lakh. Fixed 9.50% 10.00% -
  Floating BPLR-3.75% 8.50% BPLR-3.50% 8.75% BPLR-3.25% 9.00%
Approved Loan amount over Rs.30.00 lakh. Fixed 10.25% 10.50% -
  Floating BPLR-3.25% 9.00% BPLR-2.75% 9.50% BPLR-2.50% 9.75%


If you take out a loan for renovation and maintenance purposes, the BPLR will be 3.00% i.e. 9.25% per annum.

Processing Fees:

The table given below will help you know about the processing fees charged by Bank of Maharashtra on its various loan products:

Loan Slab Processing Fees
Loan amount of up to Rs.5.00 lakhs Rs.1,000/-
Loan amount of more than Rs.5.00 lakhs and up to Rs.15.00 lakhs - Rs.2,500/-
Loan amount of more than Rs.15.00 lakhs Rs.5,000/-


Margin: The margin for Bank of Maharashtra home loans is 25%.

Prepayment Penalty

If you close the account from your own funds, you will not be asked to pay any prepayment penalty. Nonetheless, if your loan is taken over by any other financial institution or bank, then a prepayment penalty of 2% will be imposed on the balance due and collected prior to issuing the documents/charge.

About Bank of Maharashtra

Bank of Maharashtra was established in 1935. The branch network of the bank consists of 1433 branches covering 22 states and 2 union territories in India. Among its branches, 831 branches have migrated to core banking system (CBS). The ATM Network of Bank of Maharashtra comprises 345 ATMs. The bank has also launched 11 Biometric ATMs.

The Debit/ATM card customer base of the bank has surpassed 10 lakhs. The bank is currently one of the highest profit making public sector commercial banks in India.

Contact Details of Bank of Maharashtra

Bank of Maharashtra
Head Office
Address: ‘Lokmangal’,
1501, Shivajinagar, Pune - 411005
Telephone Numbers: 020 - 25532731, 733, 734, 735, 736
020 - 25532728
020 - 25514501 - 12
020 - 25513781

http://www.bankofmaharashtra.in/



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