Bank of Maharashtra has various products for a home loan. It provides home loans to salaried and self-employed people with good income and good credit history. The loan amount that can be borrowed as a home loan from it has no limit for urban areas and a maximum of Rs. 15 lakhs for semi-urban/rural areas. The loan amount that can be borrowed by an applicant is determined by his borrowing capacity and income.
The repayment tenure for the home loan is a maximum of 20 years and the age of the applicant should not be less than 21 years and a maximum of 50 years for salaried persons and 55 years for other than salaried persons. The processing fee is Rs. 1000 for a loan up to Rs. 5 lakhs, Rs. 2500 for a loan between 5 lakhs to Rs. 15 lakhs and Rs. 5000 for the loan amount above Rs. 15 lakhs. The rate of interest on the home loan is 11.20% floating.