Retail Interest Rates

Rate of Interest structure as mentioned below. (RLLR- 9.05%)

Rate of Interest (Floating).

1. Maha Super Housing Loan Scheme.

1.  Housing loan to General Public

2. Housing Loan to Salaried Employees (Minimum Gross Monthly salary Rs 50000/-) of Central Govt./State Govt. /Public Sector Undertaking/ Govt. aided Education Institutions. (Not routed through DSA)

3. Concession in ROI for Housing loan:

• The Rate of interest concession (including 0.05% concession for women borrower) will be applicable to borrower having CIBIL score below 725 slab only, subject to minimum floor Rate i.e. RLLR -0.95%.
• No interest rate concession will be allowed to borrower category of CIBIL score 725 & above

2. Maha Super Flexi Housing Loan Scheme - (Term Loan linked with SB)

• 0.25% higher than that of applicable ROI for Maha Super Housing Loan scheme.

3. Maha Super Green Building - (For Green Building)

• Concession of 0.10 % in the applicable ROI of Maha Super Housing Loan scheme subject to minimum floor Rate i.e. RLLR -0.95% ,presently @8.10%
• No additional concession in any form will be applicable in the scheme.

4. For Housing Loan under commercial real estate

5. Maha Bank Top Up Loan scheme:

6. Maha Super Car Loan Scheme:

For Firms / Companies

 In case of companies / firm, CIBIL upto CMR 6 only to be considered. CMR 7 and above are not to be considered for the scheme.

Concessions in ROI

• 0.25% concession in applicable rate of interest will be given to existing Housing Loan / MSME & Corporate borrowers /corporate salary account holders/Professional & self-employed borrowers having minimum satisfactory standing of 6 months relationship with our Bank  subject to lowest ROI in the scheme i.e. RLLR – 0.60% at present..
• 0.25% concession in Green Car Loan (E-Vehicle) subject to lowest ROI under the scheme i.e. RLLR – 0.60% at present.

7. Mahabank Vehicle Loan Scheme: For purchasing Second Hand Car Loan (Pre –Owned Cars):

8. Mahabank Vehicle Loan Scheme: For purchasing two wheelers loans:

9. Maha Bank Personal Loan scheme

Withdrawal of concession for category A and B borrower, maintaining salary account with us in ROI on the loan account on following scenario: -

• If the salary credit process is not completed within 3 months of Disbursement of Loan, the concession in ROI shall be withdrawn & applicable Rate will be applied as per rate of interest applicable for employees having salary account with other banks, from retrospective date of disbursement.
• In the event of discontinuation of salary account with us, or the circumstances like change of job etc, where in salary is not credited by the employer to the salary account being maintained with our Bank, Bank shall withdraw the concessional rate and the interest rate will be revised accordingly & applicable Rate will be applied as per rate of interest applicable for employees having salary account with other Banks, from date of discontinuation of salary credit.

Note:

• Cut off CIC Score 681 & above & NTC : Loan to be considered by respective sanctioning authority as per delegation of lending power
• Below Cut off CIC score cut off 680 and below: - Approval to be taken from General Manager, Retail Credit based on merits in genuine cases:-
  • Verification of consistent credit discipline, demonstrated by a history of timely repayments in existing loans without any defaults in last two years.
  • Justifications for the low credit score, deemed acceptable by the sanctioning authority, are also required.

10. Maha Bank Personal Loan scheme for payment of one-time Group Credit Life Insurance

11. Loan against Property-Individual

12. Model Education Loan Scheme

Interest Concession under Model Education loan scheme – 

• 1% interest concession be provided to the loanees, if the interest is serviced regularly as and when applied during the study period when repayment holiday specified for interest / repayment under the scheme. In other word, the option of servicing the interest is with the borrower. The concession is available for the moratorium period only. However, minimum applicable ROI shouldn’t be below RLLR as floor rate.
• As a uniform procedure, branches should offer the option to the borrowers either to service the interest during the moratorium period as and when applied and avail 1 % concession or opt for the repayment of interest together with principal after completion of the course/moratorium. Needless to say that in later option, no interest concessions is to be provided.

  Please Note: Under both the conditions, the repayment start date in CBS (both interest and principal) should start after completion of Moratorium period only.

• In respect of borrowers availing 1 % interest rate concession, branch should apply Interest at specified rate (without any concession) as per sanction letter. Branch should ensure that the interest is serviced as and when applied. Servicing of interest means repayment of interest amount debited to the loan account within 30 days. In eligible cases, at the time of regeneration of repayment schedule one month before repayment start date, manually interest @1% per annum will be reversed & credited to SB Account of the Borrower.
• For the purpose BGL – 76500 - Interest Received on Term Loan is to be adjusted through interest adjustment.
• In case borrower defaults in repayment of interest on due date for any particular month, interest concession is not to be provided for that month and on servicing of interest for any subsequent month together with interest for defaulted month(s), concession is to be provided for the month in respect of which interest has been serviced. 

Our Bank is offering concessions in rate of interest to student borrowers on Education loans as under:-

1. Maha Saraswati Recurring Deposit A/c Holder - 0.25 % concession for students, subject to conditions that maturity value of concurrent RD account in the name of student is minimum Rs 1 Lakh.
2. Girl Students: 0.50 % concession to Girl students.
3. Housing Loan Borrowers: 0.50 % concession for wards of Housing Loan borrowers, who have successfully completed a satisfactory repayment period of 3 years (36 EMIs) or customers who have availed housing loan from our Bank in past and repaid entire loan in time satisfactorily.  
4. Risk based pricing: Bank also extends concessions to meritorious students based on their previous academic performance and reward them by providing concessional rate of interest on education loan availed. The concessions in ROI based on risk rating are as under:

* Average of marks obtained in previous academic performance such as (10^th, 12^th, Diploma, Degree etc.)

NOTE: Please note that maximum permissible concession/discount available in ROI inclusive of all above schemes is restricted to 0.50 % only. Wherever the concessions are allowed under the Education Loans, minimum applicable ROI should be RLLR as floor rate. 

13. PM - Vidya Laxmi (PMVS): Education Loan scheme

14. Maha Scholar Overseas Education Loan Scheme

15. Skill Loan Scheme

16. Lease Rental Discounting –for Landlords

17. Maha Bank Adhaar Loan scheme

18. Maha Bank Salary Gain Scheme

19. Maha Bank Consumer Loan Scheme

20. Loan against paper security

21.  Reverse Mortgage Loan Scheme

22. Maha Bank Gold Loan Scheme -

23. Maha Bank Rooftop Solar Panel Loan scheme - PM Suryaghar : Muft Bijli Yojna -

Rate of Interest (Fixed):

1. Rate of Interest for Housing Loan with CIC score above 700 under Fixed Rate of Interest subject to maximum loan limit up to Rs 200 lakh: (To be reset after 3 years only)

*Benchmark: 1 YR MCLR i.e. 9.15% at present

1. Fixed Rate of Interest for under Maha Super Housing Loan Scheme

2. Fixed Rate of Interest for under Maha Super Green Housing Loan Scheme

2. Rate of Interest for Car Loan with CIC score above 700 under Fixed Rate of Interest subject to maximum loan limit up to Rs 50 lakh (To be reset after 3 years only)

1. Fixed Rate of Interest for New Car Loan under Maha Super Car Loan Scheme

2. Fixed Rate of Interest for New Car Loan under Maha Super Green Car Loan Scheme (E-Vehicle)

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