Maha Bank Personal Loan scheme

Features

  • Loan up to 10 lakhs.
  • Low interest rates.
  • Interest on daily reducing balance.
  • Rate of Interest linked to RLLR.
  • Minimal documentation.
  • Zero hidden costs.

S.No.

Particulars

Scheme guidelines

1

Name of the scheme

Maha Bank Personal Loan scheme

2

Purpose of loan

To cater to the requirements of meeting personal expenses.

3

Eligibility

All confirmed employees Central / State Govt. / PSUs / Public or Private Ltd Companies / Reputed Corporates / MNCs drawing salary from our Bank

4

Min Annual Income

Minimum annual Income – 3.00 Lakhs.

5

Maximum Quantum of Finance

Gross Annual Income Range

Maximum Loan

 Rs.3.00 lakh to Rs.7.50 lakh

 Rs.5.00 lakh

 Rs.7.50 lakh to Rs.10.00 lakh

 Rs.7.50 lakh

 above Rs.10.00 lakh

 Rs.10.00 lakh

6

Eligible Loan Amount

Loan amount is 10 times of Gross Monthly Income or as per Maximum Quantum of Finance whichever is lower.

7

Margin

Nil

8

Repayment Period

Within remaining period of service or in maximum 60 EMIs whichever earlier.

9

Rate of Interest

Click here to view the Interest Rate

10

Deduction

Not to Exceed 60% of the Gross Income including Proposed EMI / Notional Interest.

11

Security

Nil (Clean Loan)

12

Processing Fee

1.00 % of the loan amount + GST (Min: Rs 1000/-)

13

Documentation charge

0.20% of the loan amount + GST