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Bank of Maharashtra Loan Against Property
What hinders you from reaching your goals? Is it a financial problem? If so, the Bank of Maharashtra's programme for loans secured by properties is available to you. Utilize your property to get the needed funds and meet your demands. The bank provides a minimum loan of Rs. 2 lakhs in exchange for a mortgage on a property. The loan can be repaid in installments. With the use of cutting-edge technology, the Bank of Maharashtra strives to make a strong impression on the international community while offering financial services to both individuals and corporations. Their motto combines the mobilization of resources, technique modernization, and employee inspiration. The Bank of Maharashtra is continually working to improve its products and meet the demands of its clients in a timely and effective manner. They provide a range of client-based solutions through their various financial offerings.
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Bank of Maharashtra Loan Against Property
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Bank of Maharashtra Loan Against PropertyHere are a few factors
| Location | PAN India |
| CIBIL Score | 675+ |
| Applicant | Any Salaried or Self Employed Person |
| Applicant Age | 18 Year to 75 Year |
| Loan Amount & Tenure | 10
Lac to No Limit (1 Year to 7 Year) |
| Login Fees | NIL |
| Rate of Interest & Type | 9.50% to 12% (Reducing) |
| TAT | 15 Days |
| Processing Fees | Upto 1% of Loan amount |
| Foreclosure Charges | NIL |
| Insurance | Property Insurance |
| Minimum Business Vintage | 2 Year |
| Lock In Period | NIL |
| Part Payment Allowed | Yes |
| LTV | Upto 60% of Market Value |
| Product | BT+Top UP, Fresh Loan, Seller BT, LRD |
| Program | Income Program |
| FOIR | 1.
Salaried- 4-6 Time of gross annual Salary 2. Self Employed-4-5 time of average annual income of last 3 year |
| Cautious Profile | No Cautious Profile |
| Negative Profile | No Negative Profile |
| Funded Property | Residential
Property, Commercial Property, Industrial Property, Plot, School, Hospital, Hotel, Mall, Godown |
| Negative Property | Un-approved Property |
| Accepted Collateral | Other than negative property |
| Specific Property wise Funding Limit | NA |
| Any Specific Product for Professionals | No |
| USP | No Negative Profile |
| Additional | 1. Chain of property must be clear Property chain for last 30 year |
Bank of Maharashtra Loan Against Property EMI Calculator
Interest Type
Loan Amount
Interest Rate
Loan Tenure
| Loan Amount | ₹100,000 |
| Interest % | 9 % |
| Tenure (months) | 12 |
| Emi (monthly) | ₹ 8,745 |
| Total Interest | ₹ 4,942 |
| Loan Amount + Interest | ₹ 104,942 |
| Year | Total Principal ( A ) | Total Interest ( B ) | Balance ( A + B) | Total Payment | Loan Paid Till Date (%) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ₹ 24,165 | ₹ 2,070 | ₹ 26,235 | ₹ 75,835 | 24.16 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ₹ 75,832 | ₹ 2,873 | ₹ 78,705 | ₹ 3 | 100.00 % | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Required Documents to Apply for Bank of Maharashtra Loan Against Property
Salaried income documents
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KYC of applicant & Co-Applicant
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Last 3 Month Salary Slip of Applicant
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Last 12 month Bank Statement of applicant & co-applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 2 Year Form 16 of applicant
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26AS of last 2 year of applicant & co-applicant
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Appointment letter of applicant if available
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Latest utility Bill if owned residence or rent agreement if rented
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2 Reference with contact details
Self Employed person documents
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration
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Copy of Last 12 month GST return
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Agreement to Sale if purchase case
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Property Paper with complete chain of last 13 years
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LOD (List of documents), Foreclosure Statement & SOA (Statement of account) if BT case
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Sanction letter of all running loan
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Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders, if applicant if Company or List of Partners if applicant is Partnership firm/LLP
Some Important Points
If Applicant is
- Company-MOA, AOA, COI , PAN Card
- Partnership Firm/LLP- Partnership Deed & PAN Card
- Proprietorship Firm- PAN Card, Adhaar Card, Passport size photo
- KYC means Adhaar Card, PAN Card, Passport Size Photo
Co-Applicant means in case of
- Company : Directors
- Partnership firm/LLP : Partners
- Proprietorship Firm : Spouse of Proprietor
3. If applicant is professional, then his professional degree is required
About Bank of Maharashtra Loan Against Property
What prevents you from achieving your goals? Is it a financial problem? If so, the Bank of Maharashtra's offer for loans secured by property is available to you. Utilize your property to gain the needed funds and meet your demands. The bank provides a minimum loan of Rs. 2 lakh in exchange for a loan on the property in question. The loan can be repaid in installments. Until the borrower becomes 75 years old or for a maximum of seven years, whichever comes first, the bank continues the credit. Candidates who qualify can take advantage of this lending option at affordable rates.
Key highlights of Bank of Maharashtra Loan Against Property
The sudden need for finances is sometimes unavoidable, whether personally or professionally. So, consider a loan against property as the first and best option for immediate funds. Also, as per the market trends, Bank of Maharashtra Loan Against Property has been acting like a boom because of its lowest interest rates and higher loan amounts. Let us move ahead in this article and learn more about the benefits and other details of Bank of Maharashtra Loan Against Property
Save Your Time with a Simple Loan Process
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, you will receive your loan amount shortly.
FREQUENTLY ASKED QUESTIONS
The Bank of Maharashtra property loan has a maximum lending amount of Rs. 10 crore.
Banks often issue loans up to 60% to 85% of the property's market value.
It is necessary to seek a legally binding foreclosed loan against a property account from the bank.
Under this sort of loan, residential real estate, retail establishments, or commercial structures are regarded as collateral.
Applying for a loan against property can be done in a variety of ways. On the official site of the bank, an online application form may be filled out and submitted. You may utilize the mobile banking feature for applying as well.
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