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Maha Bank Personal Loan scheme for Professionals

ParticularsScheme guidelines
1Name of the scheme

MAHA BANK PERSONAL LOAN SCHEME FOR PROFESSIONALS.

2Type of FacilityTerm Loan
3Purpose of loanTo cater to the requirements of meeting personal expenses.
4EligibilitySelf Employed Professional having account relationship with our Bank.

*Self Employed Professionals includes Qualified and registered CAs, Doctors (Medical practitioners with minimum qualification MBBS/MD/MS/Dentist -MDS), Architects & Company Secretaries, with their own practicing.
5Age Limit
  • Minimum: 21 Years
  • Age of Borrower plus repayment period should not exceed -65- years.
6Min Annual Income

Minimum annual Income – 3.00 Lakhs.

Minimum past 2 year ITR/Form 16 is Mandatory from current employer.

7Maximum Quantum of FinanceRs 20.00 Lakhs.
8MarginNil
9Repayment Period60 months
10Rate of Interest

CIBIL Score

ROI

ER

800 & aboveRLLR + 2.0011.05
776 to 799RLLR + 2.5011.55
750 to 775RLLR + 3.0012.05
700 to 749RLLR + 3.5012.55
NTC or -1 or 0RLLR + 2.7511.80
11Deduction60% of Gross Average Annual Income of last two years.
12SecurityNil (Clean Loan)
13GuarantorNot required
14Processing Fee1.00 % of the loan amount + GST (Min: Rs 1000/-)
15Documentation charge0.20% of the loan amount + GST

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