Bank of Maharashtra has various products for home loan. It provides home loan to salaried and self-employed person with good income and good credit history. The loan amount that can borrowed as home loan from it has no limit for urban areas and maximum Rs. 15 lakhs for semi urban/rural areas. The loan amount that can be borrowed by an applicant is determined by his borrowing capacity and income.
The repayment tenure for the home loan is maximum of 20 years and the age of the applicant should not be less than 21 years and maximum of 50 years for salaried persons and 55 years for other than salaried persons. The processing fees is Rs. 1000 for a loan upto Rs. 5 lakhs, Rs. 2500 for a loan between 5 lakhs to Rs. 15 lakhs and Rs. 5000 for the loan amount above Rs. 15 lakhs. The rate of interest on the home loan is 11.20% floating.