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Bank of Maharashtra Home Loan for Self Employed

Bank of Maharashtra Home Loan for Self Employed

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Bank of Maharashtra offers the 'Maha Super Housing Loan' exclusively for self-employed individuals. Anyone looking to buy or construct a new home, purchase a plot, or plan repairs on their existing property can avail of the benefits of Bank of Maharashtra Home Loan for self-employed. This loan features competitive interest rates, flexible repayment options, and a repayment tenure of up to 30 years.

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Table of Content

1. Bank of Maharashtra Home Loan for Self-Employed Highlights

2. Bank of Maharashtra Home Loan for Self-Employed Fees and Charges

3. Bank of Maharashtra Home Loan for Self-Employed Documents Required

4. Bank of Maharashtra Home Loan for Self-Employed Eligibility Criteria

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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.

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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.

This loan is even more appealing because it offers a 0.05% concession for women borrowers and does not charge prepayment, pre-closure, or part payment. The Bank of Maharashtra home loan caters to individuals with various housing needs. Let’s examine the details of the Bank of Maharashtra Home Loan for Self-Employed.

Bank of Maharashtra Home Loan for Self-Employed – Highlights

Look at the key parameters of the Bank of Maharashtra Home Loan for Self-Employed.

Interest Rate	8.35% p.a. onwards
Maximum Loan Amount	No Maximum Limit
Maximum Loan Tenure	30 Years
Processing Fees	0.25% of the loan amount
Moratorium Period	36 Months Maximum
Security	Equitable/Registered Mortgage Property

Bank of Maharashtra Home Loan for Self-Employed – Fees and Charges

Below are the fees associated with the Bank of Maharashtra Home Loan for Self Employed.

Processing Fee	0.25% of the loan amount
Prepayment Charges	Nill
Late Payment Fees	Nill

Bank of Maharashtra Home Loan for Self-Employed – Documents Required

Along with KYC documents that authenticate identity and residence, the following property documents are necessary to obtain the Bank of Maharashtra Home Loan for Self-Employed.

Transaction proofs on your residential unit purchase.
Blueprint or design copy of the structure.
NOCs for the construction of the property from respective authorities.
Agreement of Sale Deed/Sale/cost estimate.
Concession letter from the Co-operative Society/Development Authorities/Builder etc.

Bank of Maharashtra Home Loan for Self-Employed – Eligibility Criteria

The eligibility criteria for applying for the Bank of Maharashtra Home Loan for Self-Employed are below.

The applicants can be salaried employees, self-employed professionals, businessmen and agriculturists.
The applicants must have a minimum past 3 years ITR with supporting documents.
The applicant must be an Indian citizen.

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