Bhartiya Mahila Bank Home Loan

About Bhartiya Mahila Bank Home Loan

Bhartiya Mahila Bank Ltd. is one such bank which came up in existence with a vision of economic empowerment for women. Home loans offered by this bank are available in the name of ‘BMB Apna Ghar Home Loan’, and are provided for the loan amounts upto Rs. 1 crore for a tenure of 25 years at 9.25 % interest rate.

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

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    Interest Rate of Various BMB Loan Products

    Marginal Cost of Funds based Lending rate (MCLR – shall be effective from 10th October, 2016)

    Overnight1 month3 month6 month1 year3 year5 yearMore than 5 year
    9.05%9.10%9.15%9.20%9.25%9.45%9.55%9.65%

    Base Rate-9.70% (with effect from 9th October 2015)

    Bhartiya Mahila Bank Home Loan Eligibility Criteria

    ParticularsDescription
    Interest Rates9.25% p.a.
    Loan AmountUp to Rs. 1.00 cr at Base rate for women
    Tenure25 years
    Age LimitMinimum 21 years and Maximum 70 years
    Processing FeesFor loans upto Rs30.00lacs =0.30% of the loan amount, Mininimum amount= Rs1000/-
    For loans above Rs30.00lacs=0.25%of the loan amount, Minimum amount=Rs20000/-
    Pre-payment or ForeclosureNIL
    Loan MarginFor loan amounts:
    Up to Rs20.00 Lacs:10%
     Above Rs20.00 Lacs to Rs75.00Lacs: 20%
    Above Rs75.00 Lacs: 25%
    Applicable to :Salaried employees, self-employed professionals & businesswomen

    Bhartiya Mahila Bank Home Loan Eligibility Calculator

    Now let us understand the loan amount eligibility with the help of an example below.

    Suppose you are an IT professional earning Rs. 70,000 p.m. You have saved Rs. 20,000 for repaying it towards your EMI. Normally, EMIs fall in the range of 50%-60% of your net salary for disbursing higher loan amounts. In general, the calculation of income-savings pattern is done by Bhartiya Mahila Bank Home Loan Eligibility calculator, by taking into consideration per lac EMI. The expected loan amount calculated is based on the formula stated below:

    Amount- Rs. 100,000

    Rate of Interest-9.25% p.a.

    Loan Tenure-25 Years

    Per Lac EMI-Rs. 856

    Loan Amount Eligibility- Rs. 1,00,000 x savings/per lac EMI

    – Rs. 100,000 x 20,000/856 = Rs. 23.36 lacs(approx.)

    So, the expected home loan amount from Bhartiya Mahila Bank Home Loan amounts to Rs. 23.36 lacs(approx)

    Bhartiya Mahila Bank Home Loan EMI Calculator

    Use Bhartiya Mahila Bank Home Loan EMI Calculator which is designed to give you immediate results with an approximate value of the monthly EMI on your Home Loan. Just enter the following details:

    • Loan amount
    • Interest rate
    • Loan tenure

    Get the actual results for your EMI along with a break-up component which tells you the principal loan amount and interest which you need to pay as against your home loan.

    Suppose, you are interested in availing a loan amount of Rs. 20 lakhs repayable after 20 years at an interest rate being  9.25% p.a.The following table gives you details on your calculated EMI along with interest and the total amount that costs you against your sanctioned home loan.

    Table showing EMI, interest outgo and total amount payable on your home loan

    Loan Amount (in Rs.)Loan Tenure (in years) Interest Rate (% p.a.)EMI (in Rs.)Total Interest Outgo (in Rs.)Total Amount (EMI+Interest) (in Rs.)
    200000019.25%1751351016192101619
    200000029.25%915991983782198378
    200000039.25%638322979672297967
    200000049.25%500084003762400376
    200000059.25%417605055882505588
    200000069.25%363006135802613580
    200000079.25%324327243292724329
    200000089.25%295608378022837802
    200000099.25%273529539672953967
    2000000109.25%2560710727853072785
    2000000119.25%2419911942153194215
    2000000129.25%2304313182103318210
    2000000139.25%2208214447233444723
    2000000149.25%2127215737023573702
    2000000159.25%2058417050923705092
    2000000169.25%1999418388373838837
    2000000179.25%1948519748783974878
    2000000189.25%1904221131544113154
    2000000199.25%1865622536034253603
    2000000209.25%18317 23,96,1614396161

    Amortization Table

    YearPrincipal(in Rs.)Interest(in Rs.)Balance Amount(in Rs.)
    1 36,318 183,486 1,963,682
    2 39,824 179,980 1,923,858
    3 43,669 176,135 1,880,189
    4 47,882 171,922 1,832,307
    5 52,507 167,297 1,779,800
    6 57,574 162,230 1,722,226
    7 63,131 156,673 1,659,095
    8 69,224 150,580 1,589,871
    9 75,906 143,898 1,513,965
    10 83,232 136,572 1,430,733
    11 91,266 128,538 1,339,467
    12 100,076 119,728 1,239,391
    13 109,736 110,068 1,129,655
    14 120,326 99,478 1,009,329
    15 131,942 87,862 877,387
    16 144,679 75,125 732,708
    17 158,643 61,161 574,065
    18 173,956 45,848 400,109
    19 190,747 29,057 209,362
    20 209,504 10,647 0

    Documentation for Bhartiya Mahila Bank Home Loan

    • Signed application form with photograph
    • ID and residence proof
    • Processing fee cheque
    • Last 6 months bank statements
    • Documentation for salaried applicants:
      • Last 3 months salary slips
      • Form 16 or Income Tax Returns
    • Documentation for self-employed applicants:
      • Education qualification certificate & proof of business existence
      •  Last 3 years Income Tax Returns with computation of Income
      •  Last 3 years CA Certified / Audited Balance Sheet and Profit & Loss Account

    Documentation for businesswomen

    • VAT/ service tax registration
    • Business address proof
    • Incorporation details in case of companies
    • Statement of profit and loss account
    • Statement of balance sheets verified by Chartered Accountant
    • Copy of partnership deed
    • Proof of business existence and business profile

    Features and Benefits of Bhartiya Mahila Bank Home Loan

    • Attractive Housing Finance Rates
    • No prepayment charges
    • Hassle-free documentation processes
    • Quick and transparent processing
    • Tax Benefits

    Bhartiya Mahila Bank Customer Care Number

    In case of knowing about prevailing rate of interest, changes in any processing fees from time to time, sanctioned limit or discussing the eligibility criteria or unavailability of producing any document for evidence, reach out to an experienced customer care representative of Bhartiya Mahila Bank on 011- 47472100

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    EMI Calculator