MAHA BANK PERSONAL LOAN SCHEME- for Business Class having Home Loan with us

Particulars

Scheme guidelines

1

Name of the scheme

MAHA BANK PERSONAL LOAN SCHEME- for Business Class having Home Loan with us.

2

Type of Facility

Term Loan

3

Purpose of loan

To cater to the requirements of meeting personal expenses.

4

Eligibility

For existing Home Loan applicant to avail the Personal he/ she should have a satisfactory track record of repayment of Home loan EMI up to 6 months and there should not be any overdue in the Home Loan A/c. i.e. the account should not have been classified under SMA category during the last 6 months’ period.

5

Age Limit

  • Minimum: 21 Years
  • Age of Borrower plus repayment period should not exceed -65- years.
6

Min Annual Income

Minimum annual Income – 3.00 Lakhs.

Minimum past 2 year ITR/Form 16 is Mandatory from current employer.

7

Maximum Quantum of Finance

Rs 20.00 Lakhs.

8

Margin

Nil

9

Repayment Period

84 months

10

Rate of Interest

Click here to view the    Interest Rate
11

Deduction

65% of Gross Annual Income of last year including Proposed EMI.

12

Security

Nil (Clean Loan)

13

Guarantor

Not required

14

Processing Fee

1.00 % of the loan amount + GST (Min: Rs 1000/-)

15

Documentation charge

0.20% of the loan amount + GST

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