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Embarking on the journey to homeownership is an exciting endeavour, and Bank of Maharashtra understands that every homeowner’s journey is special. Explore the diverse range of home loan products tailored to suit different needs, from first-time buyers to those looking to refinance or renovation. With customised home loan products, competitive interest rates and a commitment to transparency, Mahabank stands as a reliable partner in turning your homeownership dreams into reality.

Choose Bank of Maharashtra and step confidently into a future filled with joy of owning your dream home!

best home loan rates

Interest Rate


Maha Super Housing Loan Types

  • 1.

    Maha Super Housing Loan Scheme for Construction/Acquiring

  • 2.

    Maha Super Housing Loan Scheme for Purchase of Plot and Construction thereon

  • 3.

    Maha Super Housing Loan Scheme for Repairs

Features and benefits of Home Loan

  • best home loan rates,plot loan interest rate,home loan interest rates
    Low EMI
  • higher home loan amount
    Higher Loan Amount
  • track my loan
    Track my Loan
  • approved projects
    Approved Projects
  • Simplified Disbursement
    Simplified Disbursement
  • Low processing fee
    Low Processing Fee
  • no hidden charges
    No Hidden Charges
  • no prepayment penalty
    No Prepayment Penalty
  • 0.05% concession to women and defence personal.
  • Maximum Tenure up to 30 Years / up to 75 years of age.
  • No Pre-Payment / Pre-closure / Part payment Charges.
  • Concession in ROI for Housing Loan borrower in Car Loan & Education Loan.
  • Bank of Maharashtra Offers Lowest Interest Rate on Home Loan in India

Documents required for Home Loan

  • Application form duly complete and signed.
  • 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
  • Guarantor forms along with net worth proof /income proof (if applicable)
  • Guarantor’s IT return along with KYC documents as mentioned in point 3 & 4
  • In case of Takeover(Refinance):
    1. Loan Outstanding statement as on date
    2. Loan account statement for last 12 months
    3. Documents Acknowledgement Receipt from Bank
  • Property Documents:
    1. Receipts for payments made for purchase of the residential unit
    2. Copy of approved drawings of proposed construction/purchase
    3. Permission from competent authority for construction of flat/house
    4. Permission from competent authority under Urban Land ceiling & Regulation Act 1976
    5. Agreement of Sale/Sale Deed/Detailed cost estimate from Regd.Architect/Engineer for the property to be constructed.
    6. Allotment letter from the Builder/Co-operative Society/Development Authorities/Association of apartment owners etc.
    7. Other documents depending upon:
      1. Property to be purchased directly from Builder (Ready/Under-construction)
      2. Property belonging to a Registered Co-operative Housing Society
      3. Purchase in resale.
      4. Direct sale by any Development authority
      5. Construction of house on separate plot of land.
  • Additional Documents for NRIs
    • Copy of employment Contract (if the contract is in any language other than English, the same has to be translated into English and attested by Employer /Indian Embassy)
    • Copy of Identity Card issued by the current Employer
    • Continuous Discharge certificate, if applicable
    • Copy of latest work permit
    • Copy of Visa stamped on the passport
    • NRE Bank account passbook or statement of account
    • Overseas Bank account statements for last 6 months in which salary is credited
    • A Salary certificate/income statement duly attested by out foreign office including subsidiary office/certified by the competent authority available in the country may be produced. This may also include Chartered /Certified Accountants, Officials of Inland Revenue dept.(similar to Income Tax Authorities in India) or any other agency specified for the purpose. Where ever attestation is not possible, this may be submitted duly notarized.
  • Additional Documents for PIOs
    1. A photocopy of PIO card or any of the under noted documents:-
    2. Current Passport indicating birth place of India/Abroad
    3. Indian Passport, if held earlier
    4. Parents or grandparents passport with details there in substantiating his claim of being PIO.

Home Loan Interest Rates

bank of maharashtra home loan interest rate

Bank of Maharashtra helps you buy your dream home with low EMIs. The EMI Calculator on the website works this out for you. Check your eligibility, upload your documents and obtain instant in-principle sanction.

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Housing Loan Interest Rate


Fore more Interest Rates & Charges Click here

Home Loan EMI Calculator

Principal Loan Amount *:
Interest Rate ( % p.a ) *:
Loan Term (Years) * :

Home Loan Eligibility

home loan eligibility

How will Bank of Maharashtra decide the home loan amount i am eligible for?

Maximum loan amount will be lowest of loan amount assessed on the basis of Permissible Deduction norms, Maximum permissible LTV ratio, Loan amount requested.

Frequently Asked Questions (FAQs)

frequently asked questions

Home loans are availed for

  • Construction/acquiring of new or existing house/flat and extension of existing house/flat.
    Home loan to purchase new flat
    Home extension loan
  • Purchase of plot and construction there on.
  • For Repairs /renovation/alternation of existing house/flat for new standalone borrowers.

A Bank of Maharashtra home loan provides numerous benefits such as facility to apply online, quick loan processing, attractive interest rates, customized repayment options and simple & hassle-free documentation.

The features of Maha Super Housing Loan are as below:

  • 0.05% concession to women and defence personal.
  • Maximum tenure up to 30 years/up to 75 years of age.
  • No Pre-payment/Pre-closure/Part payment charges.
  • Concession in ROI for Housing Loan borrower in Car Loan and Education loan.
  • Bank of Maharashtra Offers Lowest Interest Rate on Home Loan in India

Maximum loan amount will be lowest of loan amount assessed on the basis of Permissible Deduction norms, Maximum permissible LTV ratio, Loan amount requested.

EMI's begins from the month subsequent to the month in which disbursement of the loan is done. For loans for under-construction properties EMI usually begins after the complete home loan is disbursed but customers can choose to begin their emi’s as soon as they avail their first disbursement and their emi’s will increase proportionately with every subsequent disbursement. For resale cases, since the whole loan amount is disbursed in one go, emi on the whole loan amount start from the subsequent to the month of disbursement

Yes, it is possible to transfer a home loan in India, from one Bank to another under certain circumstances.
Home loan transfer typically refers to the process of transferring an existing home loan from one bank or financial institution to another.
This is done to take advantage of better interest rates, lower fees or improved loan terms offered by the new lender

A floating interest rate sometimes known as variable interest rate, is an interest rate that varies over time according to changes in a reference rate or index.
It's often used in financial products like mortgages, home loans and other investments.

For calculating the EMI (Equated Monthly Installment) for a home loan in India, we must also consider the loan amount, interest rate and loan period. To get accurate EMI estimate, visit the website of Bank of Maharashtra & calculate the precise EMI cost using home loan EMI calculator.

The approximate EMI for a 50 lakhs home loan with an interest rate of 8.35% per annum and 15 year tenure would be around ₹49237

Depending upon the needs and requirements of customers, there are different types of home loans available in India.
Some of the popular types of home loans includes,

Bank of Maharashtra provides varieties of home loans under Maha Super Housing Loan Scheme.

Some of the factors that affect home loan eligibility in India are:

  • Income
  • Credit Score
  • Employment Stability
  • Age
  • Existing Debt Obligations
  • Down Payment
  • Property Value and Location
  • Loan Tenure

Yes, it is possible to obtain a home loan in India jointlyalong with close relatives.
Joint home loans are common which offer various benefits to customers. When two or more people apply for a home loan together, they are sharing the obligation as well as eligible for higher loan amount.

Obtaining a home loan in India is an important financial decision. While the procedure may require some documentation and effort, there are several steps you can do to improve your possibilities of getting approved for a home loan.

  • Check if you're eligible
  • Maintain good credit score
  • Choose the right loan type
  • Organize your documents

To check home loan eligibility in India, you need to consider the following criteria:

  • Consider your income and financial stability
  • Determine your credit score
  • Figure out your repayment ability
  • Make use of online eligibility calculators

A co-applicant can be any person who shares the financial obligation and accountability of the loan with the primary applicant while applying for a home loan in India.
The co-applicant will be considered as an equal borrower and equally accountable for loan repayment.
It can be the primary applicant's spouse, parents, children, siblings or other close family relatives who have a stable source of income

The repayment period for a home loan typically begins after the loan has been disbursed to you and/or the property purchasetransaction has been completed. This means that once you have received the funds and the ownership of the home has been transferred to you, your repayment obligations will start.

The specific start date of your home loan repayment period should be outlined in the loan agreement you signed with the lender. It's important to review your loan agreement to understand the terms and conditions, including the repayment start date, repayment schedule, interest rate, and any other relevant details pertaining to your specific loan.

Top-Loan on your home loan can be availed for various purposes such as repairs and renovations and other expenses such as weddings, education etc.

ROI on Top -up loans for repair and renovation as well as for any other purpose will be 20bps higher than that applicable on the Maha Super Housing Loan Scheme (currently).

The benefits of a Home Top-Up Loan include access to additional funds for various purposes such as repairs and renovation, marriage and other related expenses at lower interest rates compared to personal loans. Additionally, the repayment tenure on Top-Up loans is higher than that of personal loans.

There is no limit on the number of times you can avail of a Top-up loan on your home loan depending on fulfilling other terms and conditions as per the Top-Up Loan. However, only one top-up loan can be active at any given point in time.

For Resident Indians: Individual salaried employees (with a permanent job for a period of minimum 1-year continuous service) of State/ Central Government/ Public/ Private Sector Companies of repute, Self-Employed Professionals, and Businessmen.

Non-resident Indians (NRIs) holding Indian Passport, Persons of Indian Origin (PICOs), and Overseas Citizens of India (OCI) are treated as NRIs: Salaried applicants/ co-applicant/s (whose income can be considered for eligibility), should have a regular job abroad in a reputed Indian/ Foreign Company, Organization or Government Department having a valid job contract/work permit for the minimum past 2 years.

To apply for a Home Loan, one can either visit the nearest branch and complete all the required formalities or apply online through Bank of Maharashtra's website:

On average, loans are disbursed within 3-10 days after satisfactory completion of documentation and all the required procedures.

Interest rates for Home Loans depend on a variety of factors such as Credit Score, amount of loan, profession etc. For more information on Interest rates on Home loans click on

To apply for a Home loan, you can apply online through our website ( ) or can visit the nearest branch and complete all the required formalities.

Yes, Home loan interest rates are lower for women than those applicable to others. The bank offers a 0.05% concession on home loans to women, subject to certain terms and conditions.

Interest rates for Home Loans depend on variety of factors such as credit score, amount of loan, profession etc. Additionally, Bank of Maharashtra offers a 0.05% concession on interest for women borrowers.

The applicable processing fee is 0.25% of the loan amount plus applicable GST.

All co-owners of the property need to be co-applicants to the home loan. Generally, co-applicants are close family members.

No, Home loan tenure doesn't affect your interest rates. Interest rates on Bank of Maharashtra home loans are calculated based on the credit score of the applicant/s.

While not mandatory, the Bank strongly recommends considering Home Loan insurance. This insurance acts as a safety net, safeguarding your Home Loan in the event of unforeseen circumstances.

There are no Pre-Payment / Pre-Closure / Part-Payment Charges

The maximum tenure for Bank of Maharashtra Home Loan is up to 30 years or until the borrower reaches the age of 75 years, whichever is earlier.

How to Apply Home Loan

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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:

How to Apply for Digital Loans Online

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