Bank of Maharashtra Personal Loan

You can utilise the personal loan from Bank of Maharashtra, which is an unsecured loan, to pay for various expenses. An extensive selection of loan products is available from the public-sector bank, Bank of Maharashtra. The Indian government maintains a large ownership stake in the bank, owning 81.2% of the shares after it was founded in 1935 by a group of missionaries. One of the bank's many programmes, the Mahabank Personal Loan programme, is the most well-liked programme among the others in the programme line.

Feature and Benefit of Bank of Maharashtra Personal Loan 

You can better comprehend the qualities and advantages of personal loans by keeping in mind the following essential points:

Personal loans are now available from all banks. The following characteristics make The Bank of Maharashtra unique:

• Existing house loan borrowers can also get loans from the bank.

• One guarantor is all that the application needs.

• It has a flexible payment schedule.

• Loans close extremely quickly.

• The loans may be obtained safely.

• Money from the loan can be used for personal purposes.

• More rapid processing

• Favourable Bank of Maharashtra Personal Loan interest rates

• Accessible to all salaried workers and independent contractors, regardless of whether they are Borrowers on a mortgage

Process of applying Bank of Maharashtra Personal Loan 

Here are the steps that you have to follow for Bank Of Maharashtra Personal Loan apply online: 

• • Visit the official website Fincrif.com .

  • Firstly , login with your name and number .

  • Then fulfill your employment type.

  • Verify OTP.

  • Upload all the documents and submit .

  • Last , you will get a call from the Fincrif team and help you to proceed next.

  
  

Frequently Asked Questions ( FAQ ) 

1. What purposes is the loan amount eligible for?

ANS. Any legal personal expense may be paid for with the loan's proceeds. The usage of the loan amount is not subject to any restrictions from the bank, provided the justification is legitimate.

2. What conditions must be met before becoming eligible for a BOM Personal Loan?

ANS. The borrower must be between the ages of 21 and 60 in order to qualify for the loan. Existing salaried home loan borrowers and holders of corporate accounts with salaries are eligible for the loan. To qualify, the candidate must make a certain amount of money.

3. What is the longest loan term possible?

ANS. Long, variable tenures are available from the bank.For this specific personal loan programme, the bank offers a maximum tenure duration of 84 months.

Eligibility Criteria for Bank of Maharashtra Personal Loan 

You must meet the requirements listed below to be eligible for a personal loan from Bank of Maharashtra.

• Age 21 should be the minimum for applicants.

• The applicant's age should not be greater than 60.

• The applicant should make between 2.50 lakh and 3 lakh rupees per year as a minimum income.

• Two years at least in the same position

• One year in the company.

Fees and Charges of Bank of Maharashtra Personal Loan