Maha Super Green Housing Loan Scheme

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Bank of Maharashtra NRI Home Loan

In an era where sustainability is paramount, the Maha Super Green Housing Loan Scheme by the Bank of Maharashtra emerges as a pioneering financial product designed to foster environmentally sustainable housing. This unique initiative encourages the construction and acquisition of green homes by offering attractive financial benefits, including concessional Maha Super Green Housing Loan Scheme Interest Rate and waived processing fees, to properties certified by reputable green building councils. This scheme not only makes eco-friendly living more accessible but also aligns with global efforts to combat climate change, representing a significant step forward in green banking and responsible home ownership.

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Table of Content

1. Maha Super Green Housing Loan Scheme Highlights

2. Maha Super Green Housing Loan Scheme Features and Benefits

3. Maha Super Green Housing Loan Scheme Interest Rates

4. Maha Super Green Housing Loan Scheme Fees and Charges

5. Maha Super Green Housing Loan Scheme Eligibility Criteria

6. Maha Super Green Housing Loan Scheme Documents Required

7. Maha Super Green Housing Loan Scheme EMI Calculator

Written By

Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

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.

Maha Super Green Housing Loan Scheme – Highlights

Here’s a summary of the Maha Super Green Housing Loan Scheme Details:

Feature	Details
Eligibility	Property with green certifications (LEED, IGBC, TERI-GRIHA)
Loan Purpose	Purchase/construction of green homes
Interest Rate Concession	0.10% on the interest rate
Processing Fees	No processing fees for eligible properties
Maximum Loan Amount	Subject to individual’s eligibility
Repayment Tenure	Flexible repayment options are available
Special Features	Encourages sustainable living practices

Maha Super Green Housing Loan Scheme – Features and Benefits

Here are the key features and benefits of the Maha Super Green Housing Loan Scheme:

Eligibility for Green Buildings: Targets properties with LEED, IGBC, or TERI-GRIHA certifications.
Concessional Interest Rates: Reduced interest rates for qualified green homes.
No Processing Fees: Elimination of processing fees for borrowers under this scheme.
Loan Purpose: Available for both the purchase and construction of green homes.
Flexible Repayment: Offers a variety of repayment options to suit different financial needs.
Promotes Sustainability: Encourages the adoption of sustainable living practices.

Maha Super Green Housing Loan Scheme Interest Rates

The Maha Super Green Housing Loan Scheme offers interest rates based on the borrower’s CIBIL score and employment type. Here are the details:

CIBIL Score 800 & above: Salaried: 8.35%; Non-Salaried: 8.45%.
CIBIL Score 750 to 799: Salaried: 8.40%; Non-Salaried: 8.50%.
CIBIL Score 725 to 749: Salaried: 8.80%; Non-Salaried: 8.90%.
Lower CIBIL scores: Higher rates apply, with increases based on scores dropping below 725.

Additionally, properties that qualify under the green building category can receive a special concession of 0.10% on the applicable Maha Super Green Housing Loan Scheme Interest Rate.

Maha Super Green Housing Loan Scheme Fees and Charges

The Maha Super Green Housing Loan Scheme is distinguished by its minimal fees and charges, enhancing affordability for borrowers investing in green properties. Key points include:

Processing Fees: There are no processing fees for loans under this scheme.
Prepayment Charges: No prepayment charges for floating rate loans when paid from your own sources.
Other Charges: Applicable documentation and legal verification charges are standard for most home loans.

Maha Super Green Housing Loan Scheme – Eligibility Criteria

The Maha Super Green Housing Loan Scheme has specific eligibility criteria focusing on promoting green housing:

Property Eligibility: Must be certified by green building standards like LEED, IGBC, or TERI-GRIHA.
Applicant Eligibility: Both salaried and self-employed individuals are eligible to apply.
Credit Score: Preferential rates are offered based on the applicant’s CIBIL score, with better rates for higher scores.

Maha Super Green Housing Loan Scheme – Documents Required

For the Maha Super Green Housing Loan Scheme, the required documentation generally includes:

Identity Proof: Government-issued ID cards such as Aadhaar, PAN, Voter ID, etc.
Address Proof: Recent utility bills, passports, or any official government document indicating the address.
Income Proof: Latest salary slips, income tax returns, and bank statements for salaried and self-employed applicants.
Property Documents: Papers certifying green compliance from LEED, IGBC, or TERI-GRIHA, along with the usual legal property documents.

Maha Super Green Housing Loan Scheme EMI Calculator

You can use the Maha Super Green housing loan scheme calculator by Urban Money to compute the EMI. This tool will help you determine the monthly payments based on your loan amount, interest rate, and tenure. It’s a straightforward way to plan your finances by estimating your monthly outlay towards the home loan.