Bank Of Maharashtra Chandigarh

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About  Bank Of Maharashtra

Bank of Maharashtra is one of the leading banks in India. Chandigarh being one of the planned city is well organized and one of the disciplined city of India. Similarly, the bank is well organized and most of its products are designed to benefits its customer. The bank has set up its branches in the city of Chandigarh to meet the financial requirements of the people as well as investors. The city is one of the most advanced and developed cities of the country. Similarly, the bank of Maharashtra is one of the most advanced and proactive banks. Its main objective is to spread its network all across the world to reach the different strata of the society and fulfill the needs and requirements. The bank is set up in the year 1936, since then its main aim is to provide the best banking experience to the people. It has used three Ms symbolizing mobilization of money, modernisation of method and motivation of staff. It has set up quite a few branches in Chandigarh and people have put their trust to do business with it. Bank of Maharashtra visions to be a global presence enhancing the shareholders and employees values and be at service for all sections of people. The customer expectation and satisfaction is the key to the bank and fulfilling it is the main agenda. The bank of Maharashtra is trying to do the same in the city of Chandigarh.   

Address of Bank Of Maharashtra Branches in Chandigarh

Branch NameAddressIFSC CodeMICRCustomer Care
45 - C ChandigarhSco 121 - 122 Sector 45c , Chandigarh - 160047MAHB00012961600140040172-2225091
Chandigarh Sector - 38dSco - 307, Sector - 38d Chandigarh - 160038MAHB00013591600140050172-2690026
Sector 47 - C ChandigarhSco 115, Sector 47c , Chandigarh - 160047MAHB00014371600140070172-5034186
Sector 17
Chandigarh
Sco 88 - 89, Sector 17, ChandigarhMAHB00003841600140010172-2702253

Products Offered by the Bank in Chandigarh

Bank of Maharashtra offers a wide range of products and services to its customer. There are several loan products like the home loan, personal loan, car loan, gold loan, etc that is helpful to the people as it provides the solution at the time of need. You can also invest your money in fixed deposit to earn good interest rate over your money. 

Basic details about Bank of Maharashtra products

ProductEligibilityLoan AmountInterest RateProcessing FeeTenure
Personal loanThe applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity.
The minimum net annual income of the applicant should be ₹ 3,00,000 per annum.
The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization.
1 year relationship with the bank.
₹1.50 lakh

10.75% - 12.70%

1% of the loan amount + service tax (as applicable)36 months
Home loanThe applicant should be at least 21 years of age at the time of application and the maximum age should be at least 60 years and 65 years for self- employed/ professional. The age limit at the time of loan maturity should be 75 years.
The applicant should be salaried individual, self- employed and farmers holding at least 5 acres of land.
The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization and self- employed should have a regular source of income with latest ITR.
No maximum limit for metro cities
not more than ₹15,00,000 for rural areas.
Not more than ₹25,00,000 for semi- urban area.

8.70% - 10.25%

Nil30 years
Education loanThe student should be the resident of India.
Should have secured the admission through entrance exam/ merit based selection.
The student should have the guarantor/ collateral.
For India:₹ 10 lakh
For abroad: ₹ 20 lakh
9.20% - 10.95%NilMoratorium: course period + 1 year 0r 6 months after getting the job.
Up to 10 years after moratorium for amount under ₹7.5 lakh and up to 15 years after moratorium for more than ₹ 7.5 lakh.
Car loanThe applicant should be at least 18 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity.
The minimum net annual income of the applicant should be ₹ 3,00,000 per annum.
The applicant should be a government employee or defence personnel.
36 times of the net monthly salary.

8.70% - 8.95%

Nil84 months
Vehicle loanThe applicant should be at least 18 years of age at the time of application and the maximum age should be at least 60 years at the time of loan maturity.
The minimum net annual income of the applicant should be ₹ 3,00,000 per annum.
The applicant should be salaried individual, self- employed and farmers holding at least 5 acres of land.
The minimum work experience should at least be 2 years. The applicant should have the minimum of 1year work experience with the current organization and self- employed should have a regular source of income with latest ITR.
Up to 20 times of the net salary amount for the salaried individual.
Up to 2 times of the total annual income for the self- employed.
9.70%0.25% of the loan amount ( minimum ₹ 500)60 months
Fixed depositBelow mentioned individual or group are eligible for a fixed deposit
The applicant should be the resident of India.
Hindu undivided family
Sole proprietorship firms
Partnership firm
limited companies
trust accounts.
Bank decide from time to time on maturity pattern.Nil7 days to 10 years

Documents Required

The documents required by Bank of Maharashtra Chandigarh are mentioned below:

ParticularsDetails
Interest Rate

10.75% - 12.70%

Loan AmountUp to ₹1.5 lakhs
tenureup to 36 months
Processing Fee1% of the loan amount
Prepayment ChargesAs per bank's norms

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