Bank of Maharashtra Home Loan Highlights | |
Interest Rate | 8.50%-11.15% p.a. |
Loan Tenure | Up to 30 years |
Loan Amount (LTV Ratio) | Up to 90% of the property value |
Processing Charges | NIL |
Note: Rates as of 21st September 2023

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Bank of Maharashtra Home Loan Interest Rates
Maha Super Housing Loan
Irrespective of Loan Amount
CIBIL Score/Credit Score | Interest Rates (p.a.) | |
Salaried | Non-Salaried | |
800 and above | 8.50% | 8.60% |
750-799 | 8.60% | 8.70% |
725-749 | 8.80% | 8.90% |
700-724 | 9.30% | 9.50% |
650-699 | 9.80% | 10.00% |
600-649 | 10.00% | 10.20% |
Below 600 | 10.40% | 10.90% |
-1 to 05/NTC | 8.80% | 9.00% |
Note: The interest rate concession including 0.05% concession offered to women borrowers and any deviation would be applicable to applicant having CIBIL Score below 725, subject to minimum floor rate, i.e., RLLR-0.70%. No concession, deviation or EMI waiver would be allowed to applicants having CIBIL Scores of 725 and above.
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Maha Super Flexi Housing Loan- (Term Loan Linked with SB)
Interest rates are 0.25% higher than that applicable for Maha Super Housing Loan Scheme.
Maha Super Green Building- (For Green Building)
Concession of 10 bps on applicable interest rates of Maha Super Housing Loan Scheme subject to minimum floor rate.
Loan Amount |
Interest Rate (p.a.) |
Up to Rs 1 crore | Premium of 100 bps over and above the applicable interest ratefor normal housing loan |
Above Rs 1 crore | Premium of 100 bps over and above the applicable interest ratefor normal housing loan Housing Loan Repair/Renovation and Top-up Loan Repair/Renovation |
Maha Bank Top-up Scheme for Repair and Renovation and Other Purpose
Interest rates are 20 bps higher than that applicable for Maha Super Housing Loan Scheme.
Also know which bank/HFC offers best home loan interest rates
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Compare Home Loan Interest Rates for Top Banks & HFCs
Name of Lender | Up to Rs. 30 Lakh | Above Rs. 30 Lakh to Rs. 75 Lakh | Above Rs. 75 Lakh |
SBI | 8.40% - 10.15% | 8.40% - 10.05% | 8.40% - 10.05% |
HDFC Bank Limited | 8.50% onwards | 8.50% onwards | 8.50% onwards |
LIC Housing Finance | 8.50% – 10.35% | 8.50% – 10.55% | 8.50% – 10.75% |
ICICI Bank | 9.00%-9.80% | 9.00%-9.95% | 9.00%-10.05% |
Kotak Mahindra Bank | 8.75% onwards | 8.75% onwards | 8.75% onwards |
PNB Housing Finance | 8.50% - 14.50% | 8.50% - 11.45% | 8.50%-11.45% |
Punjab National Bank | 8.55%-10.25% | 8.50%-10.15% | 8.50%-10.15% |
Bank of Baroda | 8.40% - 10.65% | 8.40% - 10.65% | 8.40% - 10.90% |
Union Bank of India | 8.40% – 10.80% | 8.40% – 10.95% | 8.50% – 10.95% |
IDFC First Bank | 8.85% onwards | 8.85% onwards | 8.85% onwards |
L&T Finance Limited | 8.60% onwards | 8.60% onwards | 8.60% onwards |
Bajaj Housing Finance | 8.45% onwards | 8.45% onwards | 8.45% onwards |
Tata Capital Housing Finance | 8.70% onwards | 8.70% onwards | 8.70% onwards |
Federal Bank | 8.80% onwards | 8.80% onwards | 8.80% onwards |

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Bank of Maharashtra Housing Loan Fees and Charges
Housing Loan | NIL |
Maha Bank Top-up Loan | 0.50% of loan amount |
Know more about Home Loan Processing Fees charged by various home loan lenders
Types of Bank of Maharashtra Home Loan
Maha Super Housing Loan (for purchase/construction of new house/flat, extension of existing house/flat)
Purpose: Bank of Maharashtra offers Maha Super Housing Loan Scheme for purchase/construction of new/existing house/flat of not more than 30 years old, extension of existing house/flat, purchase of residential flat under construction or ready to move in property directly from the builders/Development Authority/developers/society and extension of existing house/flat. Existing home loan borrowers of other banks and HFCs can also avail Maha Super Housing Loan Scheme for transferring their existing home loans to Bank of Maharashtra at lower interest rates.
LTV Ratio:
Up to Rs 30 lakh | Up to 90% |
Above Rs 30 lakh and up to Rs 75 lakh | Up to 80% |
Above Rs 75 lakh | Up to 75% |
Tenure: Up to 30 years or 75 years of age

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Maha Super Housing Loan (for Plot Purchase Loan and Construction thereon)
Purpose: Consumers can avail Maha Super Housing Loan Scheme for purchase of plot and construction thereon.
LTV Ratio:
For Plot Purchase- at least 30% of the value of the plot
For Construction of House-
Up to Rs 30 lakh | Up to 90% |
Above Rs 30 lakh | Up to 80% |
Maha Super Housing Loan (for Repair/renovation/alteration of existing house or flat
Purpose: Prospective home loan borrowers can avail Home Renovation Loans from Bank of Maharashtra for carrying out repair/renovation/alteration of existing house/flat
Tenure: Up to 20 years
LTV Ratio:
- 100% of the cost of repair/renovation/alteration
- Up to 25% of the property value
Maha Bank Top-up Loan (for repair/renovation/extension/ furnishing)
Purpose: Existing home loan borrowers of Bank of Maharashtra can avail Maha Bank Top-up Home Loan scheme over and above the existing home loans to meet their financial needs for repair/renovation/extension/furnishing of home.
Tenure: Up to 15 years
LTV Ratio:
For existing home loan borrowers:
- Up to 100% of the estimated cost of repair/renovation/furnishing of house provided the overall LTV ratio after including the LTV ratio of the underlying home loan does not exceed 75%
Or
For home loan balance transfer applicants availing additional top-up facility:
- Borrowers can avail up to 100% of the estimated cost of renovation/repair/furnishing the house, provided the overall LTV ratio after including the LTV ratio of the underlying home loan and based on the latest valuation report not older than 3 months, does not exceed 75%.
Maha Bank Top-up Loan (for other purposes)
Purpose: Existing home loan borrowers of Bank of Maharashtra can avail Maha Bank Top-up Loan scheme over and above the existing home loans to meet their personal requirements, such as for education, wedding and medical treatment.
LTV ratio: The overall LTV, including the LTV ratio of the existing home loan, cannot exceed 75% of the property value, based on the valuation report not older than 3 years
Tenure: Up to 15 years or 75 years of age at the time of loan maturity
Maha Super Flexi Housing Loan
Purpose: Maha Super Flexi Housing Loan Scheme is a home loan overdraft facility wherein the home loan borrowers can deposit surplus amount in the linked overdraft account and can withdraw funds from it as per their needs.
Loan Amount: Rs 50 lakh onwards
Tenure: Up to 30 years or up to 75 years of age of the borrower at the time of loan maturity
Bank of Maharashtra Home Loan Eligibility Criteria
For Maha Super Housing Loan Scheme
- For Salaried: Rs. 3 lakh (as per last year income) – Minimum past 2 years ITR/Form 16 from the Employer is mandatory
- For Self-employed Professionals: Rs. 3 lakh (as per last year ITR income) – Minimum past 2-year ITR with supporting documents are mandatory
- For Businessmen: Rs 3 lakh (as per last yr. ITR income) – Minimum past 3-year ITR with supporting documents are mandatory
- For individuals engaged in Agriculture and Allied Activities having an ascertainable minimum income of Rs 3 lakh

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For MahaBank Top Up Loan
- Existing/Takeover housing loan borrowers (without deviation/restructuring/rephasement) with minimum 18 months standing (12 months in case of takeover loans) where the repayment commences w.e.f. next month of disbursement and in the standard category.
- Existing/balance transfer housing loan borrowers (without deviation/restructuring/rephasement) with minimum 24 months standing including moratorium (maximum 18 months) and in standard category
- Old housing loan borrowers (regular and standard only) of the bank who have repaid and closed their existing home loan for the maximum repayment tenure of 180 months
- There is no cap on maximum age for top-up loan borrowers, provided that the age of maturity of the loan does not exceed 75 years of age.
Also check the home loan eligibility set by other lenders
Documents Required for Bank of Maharashtra Home Loan
Bank of Maharashtra has not specified the documents required for availing home loans. However, many lenders usually ask for the following documents while evaluating the home loan application of their applicants:
For Salaried Individuals
- Duly filled in and signed the application form with photographs
- Identity, address, and age proof
- Salary slip of last 3 months
- Bank statement of the past 6 months
- Form-16 and Income Tax Returns (ITR) details of two years
- Title documents of the property
For Self Employed Individuals
- Duly filled in and signed application form with photographs
- Identity, address, and age proof
- ITR and financial statements, including balance sheet, profit & loss account, schedules. (documents must be certified by a CA)
- Bank statement of the past 12 months
- For partnership firms: Latest partnership deed
- For companies: Latest Memorandum and Articles of Association (CA certificate on profit sharing ratio/list of directors/shareholding partnership)
- For Limited Liability Partnership: LLP Agreement
- Title document of the property along with business address proof
Know more about the home loan documents required by other lenders

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Bank of Maharashtra Home Loan EMI Calculator
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395

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FAQs
1. Are there any concessions offered to women applicants on home loan interest rates?
Ans. Bank of Maharashtra provides home loan interest rate concessions of 0.05% p.a. to women applicants.
2. Can I choose between fixed and floating rates?
Ans. Bank of Maharashtra offers home loans at floating rates only.
3. What is the minimum credit score required to avail home loans from Bank of Maharashtra?
Ans. Bank of Maharashtra has not specified the cut-off credit score for home loan applicants. However, the bank offers lower interest rates to applicants having higher interest rates. For instance, the applicants having credit scores of 800 and above are offered lowest interest rates compared to those having credit scores of 750-799, 700-749, and so on. The applicants who are new to credit or do not have a credit score can also avail home loans from Bank of Maharashtra but are charged at higher interest rates.
Also Know:- More about Credit Score based Interest Rates of Bank of Maharashtra Home Loan
4. Does Bank of Maharashtra offer preferential interest rates to salaried applicants?
Ans. Yes, Bank of Maharashtra offers home loans interest rate concession of 25 bps to salaried home loan applicants.
5. Can I foreclose my home loan availed from Bank of Maharashtra?
Ans. Yes, you can foreclose your home loan availed from Bank of Maharashtra. The bank does not levy any foreclosure charges on home loan at floating rates.
6. Can I make part-prepayments on my home loan availed from Bank of Maharashtra?
Ans. Yes, you can make part-prepayments on the home loan availed from Bank of Maharashtra. The bank does not levy part-prepayment charges on home loans.