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Maha Super Housing Loan Scheme - Maha Super Flexi Housing Loan Scheme
- Maha Super Car loan Scheme
- Mahabank Vehicle Loan Scheme: For purchasing two wheelers loans
- Mahabank Vehicle Loan Scheme for Purchase of Second Hand Car
- TopUp Loan for Home loan borrowers
- Education Loan Scheme
- Maha Gold Loan Scheme
- Mahabank Personal Loan Scheme
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MSME
- Mahabank GST Credit Scheme
- Mahabank Scheme for units engaged in Hospitality
- Mahabank Scheme for Contractors
- Mahabank Vehicle Loan Scheme For Small Road Transport Operator
- Maha MSME Project Loan Scheme
- Maha MSME Machinery/Equipment Scheme
- TReDS
- Standby Line of Credit
- Maha LAP - Mortgage Loan
- Mahabank Loan Scheme For Doctors
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Agriculture
- Mahabank Kisan Credit Card (MKCC)
- Mahabank Kisan All Purpose Term Loan
- Mahabank Gold Loan Scheme - Agriculture
- Scheme for construction of farmhouse to Agriculturists
- Scheme for financing farmers for Purchase of Vehicles (Two / Three Wheelers)
- Scheme for financing farmers for Purchase of Vehicles (Four Wheelers)
- Scheme for Financing against Warehouse Receipts to farmers
- Scheme for Financing Farmers for Purchase of Land by Small and Marginal Farmers
- Financing for Setting Up of Agri-Clinics and Agri-Business Centers for Agriculture Graduates
- Horticulture / Plantation Activities
- Animal Husbandry
- Farm Mechanization
- Minor Irrigation
- Hi-tech Projects
- Financing to Self Help Groups
- Mahabank Kisan Credit Card(MKCC) to Animal Husbandry Farmers and Fisheries
- Mahabank Kisan Tatkal Scheme
- Scheme for Estate Purchase Loans
- Financing Solar Energy Based Pumpset Loans
- Financing Solar Water Heaters
- Financing Solar Home Lighting Scheme
- Maha Krishi Samrudhi Yojana
- Mahabank Kisan Corner
- Maha Agri-machinery Rental Scheme (Mars)
Interest Rates
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Interest Rates
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Driving away a dream car is an aspiration for many. Rev up your car buying experience with Bank of Maharashtra Car Loan scheme that is instant, hassle free and at competitive rates. With quick sanction, simplified disbursement, approved car dealers and other key features, hit the road with confidence.
Your dream car awaits – start with Bank of Maharashtra Car loan now and shift gears towards ownership!
For more details Click here
Interest Rate
8.70%P.A
Features & Benefits- Documents Required
- Interest Rates
- EMI Calculator
- Check Eligibility
- FAQs
- How to Apply
Features & Benefits
Documents Required
Interest Rates
EMI Calculator
Check Eligibility
FAQs
How to ApplyCar Loan Features & Benefits
Low EMI
Higher Loan Amount
Track my Loan
Approved Car Dealers
Simplified Disbursement
Low Processing Fee
No Hidden Charges
No Prepayment Penalty
- 0.25 % Concession in ROI for Corporate salary account Holder and Existing Housing Loan borrower
- Maximum Funding 90%
- Interest charged on daily reducing Balance
- No Pre-Payment / Pre-closure / Part payment Charges
- Quick turnaround time
Car Loan Documents Required
- Two Passport Size Photographs.
- Proof of Identification: (any one)
- Election ID Card
- Pan Card
- Aadhar Card
- Driving License
- Photo Identity card issued by the current Employer
- Passport
- Proof of Residence : (any one)
- Electricity Bill
- Election ID Card
- Telephone Bill (Landline)
- Aadhar Card
- Driving License
- Photo Identity card issued by the current Employer
- Passport
- For Salaried Persons
- Original/Certified copy of the latest salary slips for the past 3 months
- Copies of IT returns of last 2 years duly acknowledged by IT Dept/IT assessment orders or Form 16 for last 2 years from the Employer.
- Undertaking from employer for remittance of monthly installment, wherever feasible.
- Bank Account (Salaried Account) statement for the last 6 months (in case of other Bank)
- For Non-Salaried Class /Businessman /Professional
- Latest 3 years of IT returns (2 years in case of Professionals) including computation of income, profit and Loss Account, Balance sheet, Audit Report etc.
- Shop Establishment Act
- Tax Registration Copy
- Company Registration License
- Bank statement for past one year
- Other documents as applicable as per scheme of loan
Car Loan Interest Rates
Car Loan EMI Calculator
Principal Loan Amount *:
Interest Rate ( % p.a ) *:
Loan Term (Years) * :
SHOW EMI
Car Loan Eligibility
How will Bank of Maharashtra decide the car loan amount i am eligible for?
Individual salaried employees/ self-employed professionals/Businessman / Agriculturist /Companies and Corporate entities.
Frequently Asked Questions (FAQs)
Maha Super Car Loan is for purchase of new four-wheeler i.e.Car, Jeep , Multi Utility vehicles (MUV)
A critical factor in getting a loan approved fast is determining how much EMI you are comfortable paying. Use our Car Loan EMI calculator to estimate how much you will need to set aside. These will enable you to plan and prepare for the Car Loan application process.
To make sure your Car Loan is approved faster; the key is to provide all the necessary documents and complete your Know your Customer (KYC) formalities.
You can use the EMI Calculator to know your EMI amount before applying for the Loan.
Bank of Maharashtra offers flexible tenures on their Car Loan products. The maximum tenure is 84 months.
Car Loan is usually give upto 36 times of net monthly salary and 90% of the cost of car value depending on the repaying capacity such that the overall deuctions does not exceed 65% of Gross Income (including proposed EMI).
For example: A person having gross monthly salary of Rs. 40000 and deduction of Rs. 5000 making his net monthly salary of Rs. 35000 is eligible for car loan of Rs. 1260000
Vehicle loan agreement is an agreement containing important clauses executed between lender and borrower/coborrower/guarantor for grant of loan for purchase of a vehicle.
Interest rates for Car loan at Bank of Maharashtra are based on the Repo Linked Lending Rate (RLLR) and Credit Score of the customer. Currently it starts from 8.70% - 11.90%.
EMIs are calculated based on the loan amount, interest rate and loan tenure. To calculate your EMI, you can use the EMI Calculator.
Interest rate for Commercial Car Loan is based on a variety of factors such as credit score, credit rating, collateral offered, amount of loan etc.
Interest rates for car loan are based on the Repo Linked Lending Rate (RLLR) and Credit Score of the customer starting from 8.70% - 11.90%.
There are No Pre-Payment / Pre-Closure / Part-Payment Charges.
The maximum tenure is 84 months.
Car Loan How to Apply
Scan this Code to see How to Apply for Digital Loans Online
Follow the step by step instructions to avail digital loan facility from our bank.
Please click on the following link to view how to apply for Digital Loan Online:
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