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Features & Benefits 
Documents Required 
Interest Rates 
EMI Calculator 
FAQs 
How to Apply Personal Loan Features and Benefits
Low EMI
Higher Loan Amount
Track my Loan
Simplified Disbursement
Minimal Documentation
Lowest Processing fee
No Hidden Charges
No Prepayment Penalty
- Processing Fee 1.00 % of the loan amount + GST
- Loan amount is 20 times of Gross Monthly Income, maximum Rs 20.00 Lakhs.
- Minimum annual Income – 3.00 Lakhs.
- No Guarantor Required
- Bank of Maharashtra Offers Lowest Interest Rate on Personal Loan in India
Personal Loan Documents Required
- Proof of Identification : (any one)
- Election ID Card
- Pan Card
- Aadhar Card
- Driving License
- Photo Identity card issued by the current Employer
- Passport
- Proof of Residence : (any one)
- Electricity Bill
- Election ID Card
- Telephone Bill (Landline)
- Aadhar Card
- Driving License
- Photo Identity card issued by the current Employer
- Passport
- For Salaried Persons
- Original/Certified copy of the latest salary slips for the past 3 months
- Copies of IT returns of last 2 years duly acknowledged by IT Dept/IT assessment orders or Form 16 for last 2 years from the Employer.
- Undertaking from employer for remittance of monthly installment, wherever feasible.
- Bank Account (Salaried Account) statement for the last 6 months (in case of other Bank)
- For Non-Salaried Class /Businessman /Professional
- Latest 3 years of IT returns (2 years in case of Professionals) including computation of income, profit and Loss Account, Balance sheet, Audit Report etc.
- Shop Establishment Act
- Tax Registration Copy
- Company Registration License
- Bank statement for past one year
- Other documents as applicable as per scheme of loan.
Personal Loan Interest Rates
Personal Loan Interest Rate Starting From
9.00 %P.A*
Fore more Interest Rates & Charges Click here
To know more Interest Rates & Charges about other Personal Loan Schemes
- Personal Loan scheme for Salaried customers Click here
- Personal Loan scheme for Professionals Click here
- Personal Loan scheme - for Business Class having Home Loan with us Click here
Personal Loan EMI Calculator
Frequently Asked Questions (FAQs)
A Personal Loan is a loan that can be availed for any personal purpose such as home renovation, wedding, medical emergencies, travelling, debt repayments, bill payments and more. Unlike other loans, Personal Loan does not require any collateral or security and can be easily availed with minimum documentation. Like any other loan, you can repay Personal Loan with EMI (Equated Monthly Instalments); debited from your bank account.
To avail the Personal Loan, all you need to do is submit the loan application form. On meeting the eligibility criteria, you will get an offer with the sanctioned amount, tenure of loan and interest rate. Once you accept the offer, funds are transferred to your bank account instantly.
You can use the Personal Loan EMI Calculator to know your EMI amount before applying for the Loan.
Funds from Personal Loan can be used to cater to requirements of meeting personal expenses.
You can repay your Personal Loan via an auto-debit instruction through your Bank account on a stipulated date every month to repay your EMI.
- Maha Bank Personal Loan scheme for Salaried customers
- For Category A
a) Salary Account with Bank of Maharashtra - 84 months
b) Salary Account with Other Bank - 60 months - For Category B & C
60 months
- For Category A
- Maha Bank Personal Loan scheme for Professionals
60 months
- Bank Personal Loan scheme - for Business Class having Home Loan with us
84 months
Yes, You can apply for Personal loan through Bank of Maharashtra's "MahaMobile APP". Download the MahaMobile app from following links:
- Android: Download Android App
- IOS: Download IOS App
Personal Loan How to Apply
Scan this Code to Apply Personal Loan Online
Follow the step by step instructions to avail digital loan facility from our bank.
Please click on the following link to view how to apply for Digital Loan Online:
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