What is holding you back from reaching your dreams? Is it a shortage of cash? If so, the Bank of Maharashtra's loan against property scheme is available to you. Use your property to get the necessary funds and meet your own demands. The bank provides a minimum loan of Rs. 2 lakhs in exchange for a loan on real estate. So keep reading to know more about what is Bank of Maharashtra loan against property interest rate.
Get a home loan through NoBroker at best interest rates here.What is a loan against property interest rate in the Bank of Maharashtra?
CIBIL Score |
ROI |
Effective ROI |
750 and above |
RLLR + 1.65 |
10.95 |
700 to 749 |
RLLR + 2.00 |
11.30 |
650 to 699 |
RLLR + 2.15 |
11.45 |
600 to 649 |
RLLR + 2.40 |
11.70 |
Below 600 |
RLLR + 2.65 |
11.95 |
-1 or 0 and 01 to 05 |
RLLR + 2.15 |
11.45 |
What are the requirements for a Bank of Maharashtra loan against property?
You must be between the ages of 18 and 65 to be eligible for the loan.
You must have owned free and clear, personally occupied residential or commercial property for at least a year before applying.
You must be a permanent employee of the central or state governments, public sector undertakings (PSUs), reputable businesses or MNCs, independent businessmen, professionals, or self-employed individuals with a minimum of 2 years of experience.
The last two years' average income should be about Rs.5 lacks.
What documents for a loan against property in the Bank of Maharashtra?
You must submit the following paperwork:
Application for a loan
Identification document (PAN card, driver's licence, voter ID, aadhaar card, etc.)
Address verification (driver's licence, voter ID, aadhaar card, ration card, etc.)
Income proof
Bank statements
Information about the property
Bank of Maharashtra loan against property interest rate is now clear to you.
Read More: Is loan against property taxable? How much time does it take to get loan against property? Can you get tax benefits on a loan against property? What is a loan against property in Bajaj Finance?Shifting, House?
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Authors Of The Question
What is the rate of interest of Bank of Maharashtra in loan against property?
Faiz
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1 Year
2023-03-20T19:35:07+00:00 2023-03-29T18:27:41+00:00Comment
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