Bank of Maharashtra is one of the largest public sector banks in India. The bank’s majority of shares are owned and managed by Government of India. Bank of Maharashtra offers a range of services that include consumer, private, corporate and investment banking. The bank provides variety of home loan products to its customers. Its home loan products are designed specifically to meet the needs and requirements of the customers.
Bank of Maharashtra Home Loan Interest Rate 2019
|Interest Rate||8.75% onwards|
|Loan Tenure||Upto 30 years|
|Loan Amount||Upto Rs. 30 lakh|
|Processing Charges||1% of the loan amount|
|Moratorium period||18 months|
|Security||Flat / Registered / Equitable Mortgage of House|
Note: The mentioned interest rates, fees and charges are subject to change and depend on the sole discretion of the bank and RBI. GST and service tax shall be levied extra on the mentioned charges.
Home Loan Interest Rate
Home loan available at Bank of Maharashtra is issued at floating rate of interest method. The rate of interest structure is calculated based on MCLR rate for 1 year, which is 8.75% onwards.
MCLR rate with effect from 7th June, 2019
Let’s take a look at the features and types of home loans offered by Bank of Maharashtra.