60 Lakh Home Loan Bank of Maharashtra

If you are considering a 60 Lakh home loan, EMI Bank of Maharashtra offers a range of home loan options crafted to your needs, whether for buying, constructing, or renovating your home. The Bank of Maharashtra home loan interest rate for 60 Lakh starts at a competitive 8.35% per annum. With a loan tenure of up to 30 years, your monthly payments become more manageable. Notably, floating interest rates have no prepayment charges, allowing early repayment without penalties. Women and defence personnel may also benefit from a slight interest rate discount. Use the 60 Lakh loan EMI calculator Bank of Maharashtra for detailed calculations. Applying is straightforward, and the required documents are ID proof, address proof, income proof, and bank statements. Check the 60 Lakh home loan eligibility Bank of Maharashtra for a smooth process. Read on to know more.

60 Lakh Home Loan Bank of Maharashtra – Highlights

Here are the interest rates and key details for a 60 lakh home loan from the Bank of Maharashtra:

60 Lakh Home Loan EMI for 5 Years Bank of Maharashtra

Following is the 60 Lakh home loan EMI for 5 years at the Bank of Maharashtra:

60 Lakh Home Loan EMI for 10 Years Bank of Maharashtra

Following is the 60 lakh home loan EMI for 10 years at Bank of Maharashtra:

Bank of Maharashtra 60 Lakh Home Loan EMI for 15 Years

The applicable EMI over a period of 15 years for a 60 lakh Bank of Maharashtra home loan is:

Bank of Maharashtra 60 Lakh Home Loan EMI for 20 Years

The EMI for a 60 lakh home loan from the Bank of Maharashtra spanning over a period of 20 years is:

60 Lakh Bank of Maharashtra Home Loan – Fees and Charges

The processing fee is up to 0.25% of the loan amount plus GST. There are no prepayment charges.

60 Lakh Bank of Maharashtra Home Loan – Documents Required

Documents Required for a 60 Lakh Home Loan from Bank of Maharashtra:

1. General Documents:

• Completed and signed application form
• Two recent passport-size photographs

1. Proof of Identity (any of the below-mentioned documents):

• Aadhar Card
• Election ID Card
• PAN Card
• Passport
• Voter ID
• Driving License

1. Proof of Address (any document from this list):

• Aadhar Card
• Election ID Card
• Electricity Bill
• Landline Bill
• Passport
• Driving License

1. Proof of Income:

• Last 3 months’ salary slips
• Copies of the past 2 years’ income tax returns
• Bank statements from the past 6 months

1. Property Documents:

• Payment receipts
• Copies of construction designs
• Construction permission from local authorities
• Sale-Deed Agreement
• Concession Letter

1. Additional Documents for NRIs:

• Visa copy
• Continuous Discharge Certificate
• Salary Certificate
• Employment Contract Copy
• Bank statements from the last 6 months of an overseas bank account

1. Additional Documents for PIOs:

• Copy of PIO Card
• Passport of the applicant
• Passports of parents or grandparents showing PIO details

60 Lakh Bank of Maharashtra Home Loan – Eligibility Criteria

To be eligible for a 60 Lakh home loan from Bank of Maharashtra, applicants must meet the following criteria:

• Employment:
  • Applicants must have been employed permanently with their current employer for at least one year.
  • The employer should be part of the Central or State Government, a Public Sector Unit, or a recognised private sector company. 

• Age Criteria:
  • Applicants must be at least 21 years of age.
  • Applicants must not exceed 60 years of age. 

• Self-Employed Eligibility:
  • Includes professionals, businessmen, and pensioners who maintain a pension account with the Bank of Maharashtra and demonstrate sufficient disposable income.
  • This applies to farmers who own at least 5 acres of irrigated land and possess adequate disposable income.

• Professional Age Limit:
  • The age limit for doctors, architects, and chartered accountants is between 21 and 65.
  • For other professions, the age limit is fixed at 60.