Consumer Loan Scheme
SNo Parameter Details
1 Name of the scheme Maha Consumer Loan Scheme
2 Purpose: For purchase of consumer durables including computers/Laptops, Electronic Gadgets etc.
3 Eligibility: Existing Housing Loan Borrowers /Corporate Salary Account holders (Minimum 2 years in employment with 1 year in the current organization) having minimum standing of 1 year relationship with Bank.
4 Min. Annual Income For Corporate Salary Account holders: Rs. 3.00 lakh (last year income) - Minimum past 2 year ITR/Form 16 from the Employer is Mandatory.

For Existing Housing Loan Borrowers (Salaried/Businessmen/ Professional Individuals only):Rs.2.50 lakh (last year income) - Minimum past 2 year ITR/Form 16 from the Employer is Mandatory, Subject to sufficient disposable Income.
5 Age Limit
  • Minimum : 21 Years
  • Maximum: 60 Years
6 Quantum of Finance
  • Minimum : Rs.50,000/-
  • Maximum loan amount: Rs.1.50 lakh, Subject to deduction norms
7 Margin:
  • Minimum 25% of the cost of the Consumer goods
  • For Computers/Laptops/Electronic Gadgets : Minimum 40%
8 Rate of Interest: Click here to view the Interest Rate
  • 1.00% discount in applicable interest rate will be given to Existing Housing Loan Borrowers / Corporate Salary account Holders
9 Repayment Maximum 60 Months
10 Deduction Not to Exceed 60% of the Gross Income including Proposed EMI
11 Processing Charges 0.50% of the Loan Amount (Min.:Rs.500/-)
12 Security Hypothecation of Consumer goods purchased.
13 Guarantor One guarantor acceptable to the Bank
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