30 Lakh Home Loan Bank of Maharashtra

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Turn your dream of homeownership into reality with the 30 lakh home loan from the Bank of Maharashtra! They offer hassle-free loans with clear terms and competitive interest rates. Their focus is on making the entire process as easy as possible. Whether you're a first-time buyer or looking to refinance, the Bank of Maharashtra can be your reliable partner. They're committed to helping you find the best loan option for your needs so you can finally own your own place.

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Table of Content

1. 30 Lakh Home Loan Bank of Maharashtra Highlights

2. 30 Lakh Home Loan EMI For 5 Years Bank of Maharashtra

3. 30 Lakh Home Loan EMI For 10 Years Bank of Maharashtra

4. 30 Lakh Home Loan EMI For 15 Years Bank of Maharashtra

5. 30 Lakh Home Loan EMI For 20 Years Bank of Maharashtra

6. 30 Lakh Bank of Maharashtra Home Loan Fees And Charges

7. 30 Lakh Bank of Maharashtra Home Loan Documents Required

8. 30 Lakh Bank of Maharashtra Home Loan Eligibility Criteria

Written By

Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

30 Lakh Home Loan Bank of Maharashtra – Highlights

Given below are the key highlights of Bank of Maharashtra’s 30 lakh home loan scheme:

Feature	Details
Interest Rate	8.35% per annum
Repayment Tenure	5 to 30 years
Application Process	Low processing fees, minimal upfront costs
Fees Transparency	No hidden charges, no pre-closure penalties
Special Rate for Select Groups	Additional 0.05% concession for women and defence personnel

30 Lakh Home Loan EMI For 5 Years Bank of Maharashtra

See what your monthly payments (EMIs) would be for a 5-year, 30 lakh home loan from Bank of Maharashtra in the table below:

Parameter	Details
Interest Rate	8.35% P.A.
Number of EMIs	60 (5 years)
EMI Amount	₹61,333
Total Amount Paid	₹36,79,976
Total Interest Paid	₹6,79,976

30 Lakh Home Loan EMI For 10 Years Bank of Maharashtra

For a clear breakdown of your monthly payments (EMIs) on a 30 lakh, 10-year home loan from Bank of Maharashtra, check the table below:

Parameter	Details
Interest Rate	8.35% P.A.
Number of EMIs	120 (10 years)
EMI Amount	₹36,955
Total Amount Paid	₹44,34,656
Total Interest Paid	₹14,34,656

30 Lakh Home Loan EMI For 15 Years Bank of Maharashtra

Explore the table below to understand the EMI structure of a 30 lakh, 15-year home loan from Bank of Maharashtra:

Parameter	Details
Interest Rate	8.35% P.A.
Number of EMIs	180 (15 years)
EMI Amount	₹29,279
Total Amount Paid	₹52,70,221
Total Interest Paid	₹22,70,221

30 Lakh Home Loan EMI For 20 Years Bank of Maharashtra

A 20-year EMI breakdown for a 30 lakh home loan from Bank of Maharashtra is provided below:

Parameter	Details
Interest Rate	8.35% P.A.
Number of EMIs	240 (20 years)
EMI Amount	₹25,751 (approximately)
Total Amount Paid	₹61,80,141 (approximately)
Total Interest Paid	₹31,80,141 (approximately)

30 Lakh Bank of Maharashtra Home Loan – Fees And Charges

The fees and charges associated with your Bank of Maharashtra home loan are as follows:

Processing fee up to 0.50% of the loan.
There are no prepayment penalties for floating-rate loans.
Documentation Charges: as per bank policy
Fees are applicable for bounced cheques

30 Lakh Bank of Maharashtra Home Loan – Documents Required

Here are the documents required for a 30 lakh home loan from the Bank of Maharashtra:

Application Form
Photographs
Proof of Identity
Proof of Residence
Income Proof
Property Documents

30 Lakh Bank of Maharashtra Home Loan – Eligibility Criteria

Here are the eligibility criteria for a 30 lakh home loan from the Bank of Maharashtra:

Age Limit: 18-70
Income: Stable, sufficient income
Employment: Steady job or business
Credit Score: 750+
Financial Obligations: EMIs should not exceed 50% of monthly income.
Loan to Value Ratio: Up to 80% of property value.

FAQs

What is the EMI for a 30 lakh Home Loan for 20 years at the Bank of Maharashtra?

The EMI for a 30 lakh home loan for 20 years at an interest rate of 8.35% per annum from the Bank of Maharashtra would be approximately ₹25,845.

Who is eligible for a 30 lakh home loan at the Bank of Maharashtra?

Eligibility for a 30 lakh home loan at the Bank of Maharashtra typically depends on the applicant's income, credit history, age, employment status, and other ongoing financial obligations.

What is the monthly interest rate for a 30 lakh home loan at the Bank of Maharashtra?

The monthly interest rate for a 30 lakh home loan in the Bank of Maharashtra, with an annual interest rate of 8.35%, is approximately 0.695% per month.

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