Bank of Maharashtra offers home loans at interest rates for women borrowers starts at 6.90% p.a. for a maximum loan tenure of 30 years. The bank’s home loan processing fee is up to 0.25% of the loan amount and a special discount of 0.05% on the interest is provided to women borrowers.
The home loan interest rates offered by the Bank of Maharashtra for salaried & non-salaried women borrowers are mentioned in the table below:
What are the home loan interest rates for salaried women?
|
Loan Amount |
Normal Home Loan Rates |
Rate For Women Borrowers |
|
Up to Rs. 30 lakhs |
6.95% |
6.90% |
|
Rs. 30 lakhs – Rs. 75 lakhs |
6.95% |
6.90% |
|
Rs. 75 lakhs – Rs. 1 Cr |
6.95% |
6.90% |
|
Above Rs. 1 Cr |
6.95% |
6.95% |
What are the home loan interest rates for self-employed women?
|
Loan Amount |
Rate |
Rate For Women Borrowers |
|
Up to Rs. 30 lakhs |
7.05% |
7.00% |
|
Rs. 30 lakhs – Rs. 75 lakhs |
7.05% |
7.00% |
|
Rs. 75 lakhs – Rs. 1 Cr |
7.05% |
7.00% |
|
Above Rs. 1 Cr |
7.05% |
7.05% |
What are the other costs associated with Bank of Maharashtra home loans?
Bank of Maharashtra home loan comes with a processing fee of up to 0.25% of the loan amount. This helps the bank in covering expenses related to credit appraisal and technical evaluation of the property. The processing fees on home loans are typically non-refundable and must be paid during loan application. Additionally, the bank also charges few technical and legal charges that are disclosed to the applicant during the loan process and are payable after the loan application has been processed.
Bank of Maharashtra is preferred by women home loan borrowers because of the discounted interest rates offered by the bank.