Housing Loan Scheme

Special Housing Loan scheme

List of approved Builders by Bank of Maharashtra (City Wise)

Click here to view the Interest Rate of Housing Loan

  • Build your own house
  • Purchase new house/Flat (Old or New)
  • Repairs/Renovation of existing house
Eligibility Salaried Persons, Professionals, Businessmen with sufficient disposable income. Farmers having min five acres of irrigated land holding. Non Resident Indians are also eligible.
Age Minimum 21 years -
Maximum :
60 years for salaried persons having Pension
60 years for Businessman
65 year for Professional i.e. Doctors/Architects/CAs etc.
  • Age at Maturity of Loan should not be more than 75 Years.
Quantum of Loan: For salaried class
60 times of Gross Salary or 75 times of Net Monthly salary which ever is higher subject to applicable margin

For Businessmen
Equal to avg annual income (Net profit + Depreciation) of last 3 yrs X 5 times (B/S, IT returns) Also note repayment of any other term liabilities. 

Maximum Loan Quantum: No maximum limit for Metro/Urban area
Rs.50 lakh in Semi Urban
Rs. 25 laks in Rural ares
Rs.5 lakh for repairs/renovation in all areas
Deductions Total deductions including proposed EMI should not exceed 65% of gross monthly salary / annual income.
Processing Fee Up to 25 Lakh : NIL
Above 25 Lakh : 0.25% of the Loan Amount: Subject to a Maxium Rs. 25,000/-
Documentation Charges 50% Concession on Existing charges
Presently 0.10% of the Loan Amount
Maxium: Rs. 10,000/-
Repayment Period Maximum repayment period is proposed to be:
For Purchase of New House/Flat : 360 months(However the repayment
period of 360 month is subject to the condition that the age at loan
maturity will not exceed 75 years.

For Purchase of old House/Flat : 240 months
Last Update Date : 03-01-2013
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