Mahabank Personal Loan Scheme

 

Purpose To meet personal Expenses
Eligibility Permanent salaried / Professionals (must be IT assesses)
Age 21yrs – 60yrs at Loan Maturity
Minimum Employment For Service Persons Total – 5 Yrs
Current – 2 yrs
Professionals -3 years
Minimum Annual Income Salaried persons, permanent in service / professionals -minimum income Rs. 3.00 lakh p.a. (Teachers having salary a/c Rs.2.00 lac)
Maximum amount Rs.1.50 lac
Salaried - 6 times Gross Pay
Professionals - 50% of Gross Avg. Income of last 3 yrs IT return or last yrs inc. which ever is less
Margin : Nil
Deduction Limit 60% of Gross Pay
Rate of Interest Click here to view the Interest Rate
Security CLEAN
Guarantor One Guarantor acceptable to Bank
Repayment EMI – 36 mts (Max) or residual service whichever is less
Processing fee 1% of Loan Amt. Min. Rs.500.00
Insurance N.A.
Group Finance No Group Finance
Others N.A.
 
List of Specialized Branch
Locate Branch/ATM
Bank's Willful Defaulters
Central Processing Cells (CPCs) -
Bank has established Central Processing Cells (CPCs) for centralized processing and sanctioning of Commercial Credit advances including Corporate, MSME and other loan from loan quantum above Rs. 10.00 lacs in general and agricultural term loans more than Rs. 5.00 lacs. & for all Retail Credit.

 
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Pay Stamp Duty & Registration Fee using Bank of Maharashtra Internet Banking

 
 
Inflation Indexed National Saving Securities - Cumulative

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