Bank of Maharashtra Home Loan for Women & Housewife

Bank of Maharashtra stands out among banks, prioritising women's homeownership dreams through its Maha Super Housing Loan. Designed for women, including homemakers and professionals, it offers competitive interest rates, flexible repayment options of up to 30 years, and zero prepayment charges. What's more enticing? Women applicants receive a 0.05% concession under the Bank of Maharashtra Home Loan for Women scheme. With a commitment to empowerment and financial inclusivity, the Bank of Maharashtra ensures that women can embark on their homeownership journey easily and confidently.

Bank of Maharashtra Home Loan for Housewife / Women – Highlights

The key parameters of the Bank of Maharashtra housing loan for women are mentioned below.

Bank of Maharashtra Home Loan Benefits for Ladies

Certain benefits exist for women who choose the Bank of Maharashtra as their housing loan partner; a few are listed below.

• Women applicants receive a 0.05% concession under the Bank of Maharashtra Home Loan for Women scheme.
• The loan comes with competitive interest rates, making it affordable for women borrowers.
• Borrowers can enjoy flexible repayment options, with a maximum repayment period of 30 years or until the borrower reaches the age of 75, whichever comes earlier.
• There are no charges for prepayment or closure of the loan, providing borrowers with additional flexibility.
• The loan caters to various housing needs, including construction or acquisition of new or existing houses, purchase of residential flats under construction or ready, extension of existing houses, and takeover of existing housing loan accounts from other institutions.

Bank of Maharashtra Home Loan for Housewife / Women – Fees and Charges

Here are the fees and charges, apart from the interest rate, associated with the Bank of Maharashtra home loan for women:

Bank of Maharashtra Home Loan for Housewife / Women – Documents Required

Below are the documents required to apply for the Bank of Maharashtra Home Loan for Women.

1. Completed and signed application form.
2. Two recent passport-sized photographs.
3. Identification Proof.
4. Residence Proof.
5. For Salaried Individuals:

• Last 3 months’ salary slips.
• Income Tax (IT) returns for the past 2 years. Alternatively, Form 16 from your employer for the last 2 years.
• The employer will directly remit your monthly loan instalment (if feasible).
• Bank account statement for the past 6 months (if your salary account is with a different bank).

1. For Self-Employed:

• Latest 3 years of ITR
• Computation of income, profit and loss account, balance sheet, and audit report
• Shop Establishment Act compliance documentation
• Tax registration copy
• Company registration license
• Bank statements for the past year

Bank of Maharashtra Home Loan for Housewife / Women – Eligibility Criteria

Below are the eligibility requirements for applying for the Bank of Maharashtra Home Loan for Women.

• Eligible applicants include salaried employees, self-employed professionals, businesswomen, and agriculturists.
• Applicants must provide at least 3 years of past Income Tax Returns (ITR) and supporting documentation.
• The applicant must hold Indian citizenship.

Types of Bank of Maharashtra  Home Loan for Women

The Bank of Maharashtra offers various schemes to support the housing needs of women under the Bank of Maharashtra Home Loan for Women. Some of them are given below.

• Home loan for the purchase of a new house
• Home extension loan
• Plot Purchase loan
• House renovation loans