Bank Of Maharashtra Jammu
Last Updated : Jan. 28, 2017, 6:41 p.m.
About Bank Of Maharashtra
Bank of Maharashtra, was initially established to fulfill the financial needs and requirements of the people, farmers, and business of Maharashtra. The bank was set up in 1936 at Pune. Though it was limited to Maharashtra, with the change in the economy and introduction of globalization, the bank has spread its network in the country. Now, it is one of the known names in the banking business. Bank of Maharashtra has its branches in the city of Jammu as well. The motto of the bank is to create a professional, vibrant and proactive workforce which focuses on the customer’s requirement to give them the best possible banking experience. It uses the latest technology on the continuous basis so that it can enhance the banking experience of the customer. The bank focus is to make its presence felt in the international arena with the help of the technology and dedicated workforce. The bank wants to ensure the customer satisfaction by giving the quick and efficient response and solutions to them. Also, it makes sure to hold on to the values of its employee and shareholders and move forward to create a niche for itself. The bank wants to ensure that the wealth of its shareholders is enhanced. It tries to bring the innovative schemes and products that cater the different requirements in the different sections of the society.
Address of Bank Of Maharashtra Branches in Jammu
| Branch Name | Address | IFSC Code | MICR | Customer Care |
|---|---|---|---|---|
| JAMMU | P-150, SECTOR-1 , TRIKUTA NAGAR , JAMMU ( J&K) -180012 | MAHB0001240 | 180014002 | 1800-233-4526 |
Products Offered by the Bank in Jammu
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 and increase their money. It has designed many special schemes for different So, Bank of Maharashtra is one of best banks to have the banking relationships in Jammu.
Basic details about Bank of Maharashtra products
| Product | Eligibility | Loan Amount | Interest Rate | Processing Fee | Tenure |
|---|---|---|---|---|---|
| Personal loan | The 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 | 9.50% - 12.80% | 1% of the loan amount + service tax (as applicable) | 36 months |
| Home loan | The 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. | 8.60% - 10.80% | Nil | 30 years |
| Education loan | The 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% | Nil | Moratorium: 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 loan | The 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. | 6.40% onwards | Nil | 84 months |
| Vehicle loan | The 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 deposit | Below 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. | Nil | 7 days to 10 years |
Documents Required
The documents required for the different products in Bank Of Maharashtra Jammu are mentioned in the table below:
| Product | Documents |
|---|---|
| Personal Loan | ID Proof – Passport/ Voter ID/ PAN Card. Age Proof– Birth certificate/ passport Residence Proof– Passport/ Utility bill/ Allotment letter. Income Proof– Latest Salary slip/ ITR/ form- 16 Signature Verification Proof- Passport/ PAN Card. Bank statement – Last 3 months bank statement/ last 6 months bank passbook. |
| Car Loan | ID Proof– Passport/ Voter ID/ PAN Card. Age Proof– Birth certificate/ passport Residence Proof– Passport/ Utility bill/ Allotment letter. Income Proof– Latest Salary slip/ ITR/ form- 16 Bank statement – Last 3 months bank statement/ last 6 months bank passbook. |
| Home Loan | Documents of the applicant and guarantor- ID Proof – Passport/ Voter ID/ PAN Card. Age Proof– Birth certificate/ passport Residence Proof– Passport/ Utility bill/ Allotment letter. Income Proof –Latest Salary slip/ ITR/ form- 16 Signature Verification Proof- Passport/ PAN Card. Bank statement – Last 3 months bank statement/ last 6 months bank passbook. Detailed information about the other loan if you are currently paying along with lenders information and security mortgage. Property Documents- Agreement sale copy. Certificate of possession. Land tax receipt. Detailed cost of construction. Letter of allotment Original NOC |
| Education Loan | Duly filled application with recent photographs. Residence Proof– Passport/ Utility bill/ Allotment letter. Date of Birth proof Certificate of Domicile Fee particulars from school/ college Scholarship proof Study Certificate |
| Vehicle Loan | ID Proof– Passport/ Voter ID/ PAN Card. Age Proof– Birth certificate/ passport Residence Proof – Passport/ Utility bill/ Allotment letter. Income Proof– Latest Salary slip/ ITR/ form- 16 Bank statement – Last 3 months bank A valid driving license Assessment order |
| Fixed deposit | A coloured photograph Passport/ Driving License Last six months bank account details Documents required from the trust, association/ clubs for the fixed deposit are as follows Photographs of the member operating the account. A Copy of the Trust Deed/ Bye- laws of the association. A Copy of registration certificate. A Copy of the resolution of trustee authorizing the member to operate and open the accounts. |