50 Lakh Home Loan Bank of Maharashtra

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Building your dream home is an exciting life goal, and the Bank of Maharashtra can help you achieve it! They offer competitive home loan options, making homeownership more accessible. And don’t worry. The bank takes the stress out of applying with its streamlined approach. Their website provides easy-to-follow instructions and resources to guide you efficiently. For more information on eligibility, documents required and EMIs, keep scrolling.

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Table of Content

1. 50 Lakh Home Loan Bank of Maharashtra Highlights

2. 50 Lakh Home Loan EMI For 5 Years Bank of Maharashtra

3. 50 Lakh Home Loan EMI For 10 Years Bank of Maharashtra

4. 50 Lakh Home Loan EMI For 15 Years Bank of Maharashtra

5. 50 Lakh Home Loan EMI For 20 Years Bank of Maharashtra

6. 50 Lakh Bank of Maharashtra Home Loan Fees And Charges

7. 50 Lakh Bank of Maharashtra Home Loan Documents Required

8. 50 Lakh Bank of Maharashtra Home Loan Eligibility Criteria

Written By

Hepson Franklin

Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

50 Lakh Home Loan Bank of Maharashtra – Highlights

Know about the key features of the Bank of Maharashtra’s 50 lakh home loan:

Benefit	Details
Fixed Interest Rate	8.35% p.a.
Flexible Tenure	5 to 30 years
Low Processing Fees	Minimises upfront costs
Transparent Costs	No hidden charges
Special Concessions	0.05% rate discount for women and defence personnel.

50 Lakh Home Loan EMI For 5 Years Bank of Maharashtra

Here are the EMI details for a 50 lakh home loan offered by the Bank of Maharashtra at an 8.35% interest rate:

Parameter	Details
Number of EMIs	60 (5 years)
EMI Amount	₹1,02,222 (approximately)
Total Amount Paid	₹61,33,294 (approximately)
Total Interest Paid	₹11,33,294 (approximately)

50 Lakh Home Loan EMI For 10 Years Bank of Maharashtra

Below are EMI details for a 50 lakh home loan offered by the Bank of Maharashtra at 8.35% P.A.

Parameter	Details
Number of EMIs	120 (10 years)
EMI Amount	₹61,592 (approximately)
Total Amount Paid	₹73,91,093 (approximately)
Total Interest Paid	₹23,91,093 (approximately)

50 Lakh Home Loan EMI For 15 Years Bank of Maharashtra

Here are the EMI details of a 50 lakh home loan offered by the Bank of Maharashtra at an interest rate of 8.35% P.A.

Parameter	Details
Number of EMIs	180 (15 years)
EMI Amount	₹48,798 (approximately)
Total Amount Paid	₹87,83,701 (approximately)
Total Interest Paid	₹37,83,701 (approximately

50 Lakh Home Loan EMI For 20 Years Bank of Maharashtra

Given below are the EMI details for a 50 lakh home loan offered by the Bank of Maharashtra at an interest rate of 8.35%:

Parameter	Details
Number of EMIs	240 (20 years)
EMI Amount	₹48,798 (approximately)
Total Amount Paid	₹1,17,23,701 (approximately)
Total Interest Paid	₹37,83,701 (approximately)

50 Lakh Bank of Maharashtra Home Loan – Fees And Charges

Here are the fees and charges for a 50 lakh home loan from the Bank of Maharashtra:

Processing fee: Up to 0.5%
No Prepayment charges
Documentation charges: A small, fixed fee
CERSAI charges (not always applicable): A potential registration fee

50 Lakh Bank of Maharashtra Home Loan – Documents Required

Here are the documents required for a 50 lakh home loan from the Bank of Maharashtra:

Completed Application Form
Two Recent Passport Photos
Proof of Identity
Proof of Residence
Income Proof
Property Documents

50 Lakh Bank of Maharashtra Home Loan – Eligibility Criteria

Here’s what you’ll need to unlock your dream home with a Bank of Maharashtra loan (up to ₹50 lakh):

Age: 18-70 years at the time of loan application.
Job Stability: Individuals need at least one year
Creditworthiness: A good credit score, ideally above 750,
Debt Management: Existing debt shouldn’t exceed half of your income.
Down Payment: 80% of the property’s cost.

FAQs

What is the EMI for a 50 lakh home loan for 20 years at the Bank of Maharashtra?

Bank of Maharashtra's EMI for a 50 lakh, 20-year home loan at 8.35% interest is around ₹42,917.

Who is eligible for a 50 lakh home loan at the Bank of Maharashtra?

To qualify for a 50 lakh home loan with the Bank of Maharashtra, they'll consider your income, credit score, age, job, and existing debts.

What is the monthly interest rate for a 50 lakh home loan at the Bank of Maharashtra?

For a 50 lakh home loan from the Bank of Maharashtra with an 8.35% annual interest rate, the monthly interest rate is approximately 0.695%.

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