Bank Of Maharashtra Jammu

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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 NameAddressIFSC CodeMICR Customer Care
JAMMUP-150, SECTOR-1 , TRIKUTA NAGAR , JAMMU ( J&K) -180012MAHB00012401800140021800-233-4526

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

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 lakh11.75% - 12.75%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.
8.75% - 8.85%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.8.90% - 9.40%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 different products in Bank Of Maharashtra Jammu are mentioned in the table below:

ProductDocuments
Personal LoanID 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 LoanID 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 LoanDocuments 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 LoanDuly 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 LoanID 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 depositA 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.

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