Bank Of Maharashtra Chennai

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About Bank of Maharashtra

Bank of Maharashtra has been set up in 1936 for supporting the trade and commerce by providing the finances in Maharashtra. Now, it envisions to capture the world and make its presence felt globally. It has moved ahead with time and has expanded its branch throughout the country and is ready to make the change globally. It has set up many branches in the city of Chennai. Many industries large scale as well as the small and medium scale has their offices in the city. The companies have made business with the collaboration of the bank. It tries to cater all the financial requirements of the people along with the company. So, that the bank has the contribution in the development of the city and the bank can also earn the profit. The vision of the bank is to provide easy and accessible experience to its customers. It wants to move ahead with the continuous and latest use of technology to serve different sections of the society.

Address of Bank of Maharashtra Branches in Chennai

Branch NameAddressIFSC CodeMICRCustomer Care
Broadway, ChennaiShree Gujarati Mandal Bldg 116, Broadway Chennai 600108MAHB0000300600014002044 - 25395923
Mount Road, Chennai603, Anna Salai, Chennai - 600006MAHB0000400600014003044 - 28293181
T.Nagar, Chennai4, Sivagnanam Road, T.Nagar, Chennai 600017MAHB0000450600014004044 - 24346039
Besant Nagar, ChennaiE 139/A, 31st Cross, Besant Nagar, Chennai 600017MAHB0000571600014005044 - 24918120
Ashok Nagar, Chennai33, 1st Avenue, Ashok Nagar, Chennai 600017MAHB0000676600014006044 - 24892537
Shenoy Nagar, Chennai17/1, Pulla Avenue, Shenoy Nagar, Chennai - 600030MAHB0001167600014007044 - 26640349
Mylapore, Chennai16, East Mada Street, Mylapore, Chennai - 600004MAHB0001204600014010044 - 24614357
Neelangarai, Chennai349, East Coast Road, Chennai - 600041MAHB0001205600014008044 - 25383460
Valmikinagar, ChennaiSri Sai Subhodaya, 57/23, Muttukadu Road, Valmiki Nagar, Chennai - 600017MAHB0001206600014009044 - 24482244
Service Branch, Chennai116, Sri Gujarathi Mandal, Broadway, Chennai - 600108MAHB0001218600014001044 - 25395923
TambaramNo.28, Old No.78, Anna Street, Chitlapakkam, Tambaram Taluka, Tambaram Revenue Firka, Chennai - 600064MAHB0001418600014011044 - 22230121

Products Offered by the Bank in Chennai

If you live in Chennai and want to know about the best bank to do business with. The answer is Bank of Maharashtra. It provides all types of products for its customer. The wide range of products include the different types of loans and deposits. It offers the personal loan, home loan, car loan, gold loan etc. To fulfill the monetary aspect of the people. You can also make the investment by keeping your money in the fixed deposit account to get good returns.

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 lakh12.70%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%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 for the Bank of Maharashtra Chennai are mentioned below:

ParticularsDetails
Interest Rate12.70%
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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