BANK OF MAHARASHTRA- PERSONAL LOAN

Purpose: To meet any personal expenses for purposes such as Medical Expenses, Expenses on Travel / Tour, Income Tax liability, etc.

Eligibility: i) Salaried persons, permanent in service / professionals / businessmen having minimum income of Rs.1.00 lakh p.a.

ii) Age of Applicant: Minimum: 21 years and Maximum 60 years at loan maturity.

iii) Minimum employment: For Service Persons: Minimum 3 years in employment and minimum 2 years in the current organization.

iv) For Others: He/She must be in the business/profession for at least 3 years.

v) Individuals should be Income Tax assesses(s).

Amount: Minimum Rs. 5,000/- & Maximum Rs. 1,00,000/-

Earning Criteria

For Salaried Person: 10 times net monthly salary

For businessman/ professional:50% of average annual income based on the I.T. Returned for the past three years

Margin: Nil

Rate of interest: Click here to view the Interest Rate

Security: CLEAN Loan is to be guaranteed by one acceptable guarantor.

Repayment: Maximum upto 3 years by monthly-equated installments.

Total deductions including proposed loan installment should not exceed 60% of Gross Income.

Processing fee: Processing charges shall be 1% subject to the minimum Rs.500/-.

For other terms and conditions, please contact our nearest Branch.