Bank of Maharashtra Home Loan Interest Rate 2026

Last Updated : Aug. 31, 2026, 2:16 p.m.

Bank of Maharashtra offers housing finance under its Maha Super Housing Loan Scheme. The loan can be used to purchase or construct a house, buy a ready or under-construction flat, extend an existing property or transfer an outstanding home loan from another lender.

The Bank of Maharashtra home loan interest rate currently starts from 7.10% per annum. The actual rate offered to a borrower depends on the credit score, income, occupation, loan amount, repayment capacity and selected home loan scheme.

Eligible borrowers can receive financing of up to 90% of the property value and select a repayment tenure of up to 30 years. The bank currently advertises nil processing fees for its standard housing loan.

Rate position checked on: 31 August 2026

Bank of Maharashtra Home Loan Highlights

Current Bank of Maharashtra Home Loan Interest Rate

The current Bank of Maharashtra housing loan rate starts from 7.10% per annum. The starting rate is generally offered to borrowers who meet the bank’s preferred credit and eligibility conditions.

The final rate will be stated in the sanction letter. The lowest advertised rate is not automatically available to every applicant.

Who Can Get the 7.10% Starting Rate?

The 7.10% rate represents the lowest currently advertised Bank of Maharashtra housing loan rate. Eligibility for this rate may depend on:

• A strong credit score
• A clean loan and credit card repayment history
• Stable and adequately documented income
• Low existing monthly obligations
• A suitable loan-to-value ratio
• An acceptable property
• Preferred employer or occupational profile
• Compliance with the bank’s internal lending conditions

Applicants should not assume that applying for the loan guarantees the starting rate. The bank will provide the final rate after completing its credit assessment.

Bank of Maharashtra Home Loan Rates by Credit Score

Bank of Maharashtra uses credit score and employment profile to determine the applicable home loan rate. A higher score usually helps a borrower qualify for better pricing.

The exact credit-score slabs can change when the bank revises its benchmark or lending policy. The rate mentioned in the sanction letter should be treated as final.

Factors Affecting the Bank of Maharashtra Home Loan Rate

Credit Score

A strong credit score indicates consistent repayment behaviour and lower lending risk. Delayed payments, settled accounts and high credit utilisation can lead to a higher rate.

Employment and Income

Salaried applicants with stable employers and regular salary credits may receive more favourable pricing. Self-employed applicants need to demonstrate stable business income through tax returns, audited accounts and bank statements.

Loan Amount

The requested loan amount and applicable loan-to-value ratio affect the lender’s risk. A larger down payment can reduce the required loan and may improve the overall application.

Existing Monthly Obligations

Personal loan EMIs, vehicle loans and high credit card dues reduce repayment capacity. Clearing smaller debts before applying may improve eligibility.

Property Profile

The property’s location, age, construction status, marketability and legal records affect approval. The bank will complete legal and technical verification before disbursement.

Bank of Maharashtra Home Loan EMI

The EMI depends on the loan amount, applicable interest rate and repayment period. The examples below use the current starting rate of 7.10% per annum and a tenure of 20 years.

These calculations are illustrative. The actual EMI may differ according to the sanctioned rate, disbursement date and subsequent benchmark revisions.

EMI for a ₹50 Lakh Bank of Maharashtra Home Loan

The following examples use a rate of 7.10% per annum.

A longer tenure lowers the monthly instalment but increases the total interest paid during the loan.

Effect of Interest Rate on a ₹50 Lakh Loan

The following comparison assumes a tenure of 20 years.

The table demonstrates why applicants should compare the sanctioned rate and not only the maximum eligible loan amount.

Bank of Maharashtra Home Loan Eligibility

Bank of Maharashtra provides housing loans to salaried applicants, self-employed professionals, business owners, agriculturists and eligible non-resident borrowers.

Additional eligibility conditions include:

• The loan must generally be repaid within 30 years.
• The borrower’s age should ordinarily not exceed 75 years at loan maturity.
• Income and existing obligations must support the proposed EMI.
• The credit history should meet the bank’s lending policy.
• The property must clear legal and technical checks.
• The applicant must arrange the required down payment.

Bank of Maharashtra Home Loan LTV Ratio

The loan-to-value ratio determines how much of the property cost can be financed.

The eligible property cost may exclude stamp duty, registration, documentation and other statutory expenses. These may need to be paid separately by the borrower.

Bank of Maharashtra Home Loan Processing Fee

Bank of Maharashtra currently advertises nil processing fees for its standard home loan.

The processing fee waiver does not necessarily include legal verification, valuation, mortgage creation, registration, insurance or other third-party expenses. Applicants should ask for a written schedule of charges.

Bank of Maharashtra Home Loan Prepayment Charges

Bank of Maharashtra does not levy prepayment, part-payment or pre-closure charges on its standard floating-rate home loan.

Borrowers can use surplus funds to reduce the outstanding principal. A part-payment can either lower the EMI or shorten the remaining tenure, depending on the bank’s process and the borrower’s request.

The sanction letter should still be checked for conditions applicable to fixed-rate, business-purpose, top-up or other specialised loan products.

Types of Bank of Maharashtra Home Loans

Maha Super Housing Loan

The Maha Super Housing Loan can be used to:

• Purchase a new or resale house or flat
• Purchase an under-construction property
• Construct a house on an owned plot
• Extend an existing residential property
• Purchase a plot and construct a house
• Transfer an existing home loan from another lender

Loan for Plot Purchase and Construction

Applicants can finance the purchase of a residential plot together with the proposed construction. The bank will assess the registered or realisable plot value and approved construction cost.

Home Renovation and Repair Loan

This loan can finance eligible repairs, renovation or alteration of an existing house or flat.

The repayment tenure can extend up to 20 years. The loan amount is generally restricted to the lowest of:

• The eligible renovation cost
• 25% of the property value
• Amount permitted under applicable LTV norms

Maha Super Flexi Housing Loan

The Maha Super Flexi Housing Loan provides an overdraft-style facility linked to an operative account. Surplus money maintained in the linked account can reduce the amount on which interest is calculated.

This product is generally available for loans of ₹50 lakh or more. The applicable rate can be higher than the regular housing loan rate.

Maha Bank Top-Up Loan

Existing eligible borrowers can apply for a top-up for renovation, extension, furnishing, education, medical expenses or other permitted purposes.

The top-up tenure can extend up to 15 years, subject to the borrower not exceeding 75 years at loan maturity. The combined outstanding loan should generally remain within 75% of the latest assessed property value.

Bank of Maharashtra Home Loan Balance Transfer

Borrowers servicing a housing loan with another bank or housing finance company can apply to transfer the outstanding amount.

Before transferring, compare:

• Current and proposed interest rates
• Remaining tenure
• Processing or administrative charges
• Legal and valuation expenses
• Interest savings after all costs
• Top-up eligibility, if required

Green Building Home Loan

A rate concession may be available when an eligible property satisfies the bank’s green-building requirements. The property must hold the certification or approval specified by the bank.

Documents Required for a Bank of Maharashtra Home Loan

Basic Documents

• Completed and signed application form
• Recent passport-size photographs
• PAN card
• Aadhaar card
• Passport, voter ID or driving licence
• Current address proof
• Age proof

Documents for Salaried Applicants

• Salary slips for the latest three months
• Form 16 for the latest two years
• Income-tax returns for the latest two years
• Salary account statements for the latest six months
• Employment proof
• Details of existing loans
• Employer undertaking for EMI deduction, if requested

Documents for Self-Employed Applicants

• Income-tax returns for the latest three years
• Audited balance sheet and profit and loss statement
• Business registration proof
• Tax registration
• Business bank statements
• Personal bank statements
• Shop and Establishment Act licence or company registration documents
• Partnership deed or incorporation documents, where applicable

Property Documents

• Agreement to sell or sale deed
• Property title documents
• Approved building plan
• Allotment letter
• Payment receipts
• Construction estimate from an architect or engineer
• Property tax receipts
• No-objection certificate, where required
• Encumbrance or ownership records requested during legal verification

Documents for a Balance Transfer

• Sanction letter from the existing lender
• Latest loan outstanding statement
• Loan account statement for the latest 12 months
• Repayment track record
• List of property documents held by the existing lender
• Acknowledgement of original documents
• Foreclosure letter, where required

Additional Documents for NRIs

• Passport and valid visa
• Overseas employment contract
• Work permit
• Employer-issued identity card
• Overseas salary certificate
• Overseas bank statements showing salary credits
• NRE or NRO account statements
• Power of attorney, where required

How to Improve Home Loan Eligibility

• Maintain a credit score of at least 750 and preferably 800 or above.
• Pay all loan EMIs and credit card bills on time.
• Reduce credit card utilisation and unsecured loan balances.
• Avoid multiple credit applications before applying.
• Add an earning co-applicant with a good credit profile.
• Make a higher down payment.
• Select a repayment tenure that keeps the EMI affordable.
• Keep income-tax returns and bank statements consistent.
• Choose a legally approved property.
• Disclose existing liabilities accurately.

How to Apply for a Bank of Maharashtra Home Loan

1. Check your credit score and estimated loan eligibility.
2. Select the required loan amount, purpose and tenure.
3. Complete the online or branch application form.
4. Submit KYC, income and property documents.
5. The bank will assess income and repayment capacity.
6. The property will undergo legal and technical verification.
7. Review the sanctioned interest rate and applicable benchmark.
8. Check all charges and insurance conditions.
9. Sign the loan documents and complete disbursement formalities.

H2: Bank of Maharashtra Customer Care

Customers can contact Bank of Maharashtra on:

• 1800 233 4526
• 1800 102 2636

Keep the application or loan account number available when contacting customer support.

Disclaimer: Interest rates, concessions, fee waivers and eligibility conditions can change at the bank’s discretion. The final interest rate, EMI, loan amount and charges will be those stated in the sanction letter and loan agreement.