Key Insights

The Bank of Maharashtra calculator uses three main inputs to figure out your EMI, total interest, and payment schedule.
You can compare different loan tenures to find the best repayment plan for your needs with the help of the Bank of Maharashtra calculator.
The Bank of Maharashtra calculator tool also helps you plan your down payment and see how changes in interest rates might affect you.

The Bank of Maharashtra Home Loan EMI Calculator lets you see your monthly EMI, total interest, and full repayment schedule in seconds. It helps you plan your home purchase with clear and simple financial details.

How to Calculate Your Bank of Maharashtra Home Loan EMI?

Use the Bank of Maharashtra EMI Calculator to plan your home loan. Enter your loan amount, interest rate, and preferred tenure to see your EMI and repayment schedule right away.

Your EMI works like a fixed monthly fee for your home. Each payment covers part of the amount you borrowed (the principal) and the interest, which the bank calculates using its set formula.

Example:

If I plan to take a ₹40,00,000 loan at 8.7% interest for 20 years, the calculator shows my monthly EMI will be ₹35,342. This makes it easy to see the total interest and plan my home budget.

Bank of Maharashtra Home Loan EMI Table / Examples

These examples show exactly what your monthly home loan EMI will be, helping you plan your budget and avoid unexpected costs.

Example-1:

Aditya is a 30-year-old IT professional living in Pune. He is buying his first apartment for ₹85,00,000. After making a down payment of ₹25,00,000, he needs a home loan of ₹60,00,000 from Bank of Maharashtra.

To make sure the loan fits his salary and does not stretch his monthly budget, he uses the EMI calculator to choose the right tenure.

Parameter	Details
Loan Amount	₹ 60,00,000
Loan Tenure	25 years
Interest Rate (p.a.)	8.60%
Processing Fees	0.50% of the loan amount + GST
Monthly EMI	₹ 49,576
Total Interest Payable	₹ 88,72,800
Total Payment (Principal + Interest)	₹ 1,48,72,800

Aditya used the calculator and saw that an EMI of ₹49,576 fit within his income. This gave him the confidence to go ahead with the purchase and plan his other expenses.

Example-2:

The Deshpande family in Nagpur plans to add another floor to their home, which will cost ₹40,00,000.

They chose a home extension loan from Bank of Maharashtra. After checking the EMI calculator, they select a medium-term loan so their monthly payments and total interest stay within their budget.

Parameter	Details
Loan Amount	₹ 40,00,000
Loan Tenure	15 years
Interest Rate (p.a.)	8.75%
Processing Fees	0.50% of the loan amount + GST
Monthly EMI	₹ 39,989
Total Interest Payable	₹ 31,98,020
Total Payment (Principal + Interest)	₹ 71,98,020

The calculator helped the Deshpandes see that an EMI of ₹39,989 for 15 years worked best for them. This way, they could pay for their expansion and still save each month for their children's education.

Example-3:

Mrs Patil is a 48-year-old government teacher from Kolhapur who is building a house on her own plot. She takes a combined plot and construction loan of ₹35,00,000 from Bank of Maharashtra.

To make sure she can repay the loan before she retires, she uses the EMI calculator.

Parameter	Details
Loan Amount	₹ 50,00,000
Loan Tenure	20 years
Interest Rate (p.a.)	8.50%
Processing Fees	0.50% of the loan amount + GST
Monthly EMI	₹ 43,391
Total Interest Payable	₹ 54,13,840
Total Payment (Principal + Interest)	₹ 1,04,13,840

Mrs Patil used a calculator to figure out that a 12-year loan with an EMI of ₹38,765 would help her clear her debt before retirement. This means she can enjoy a debt-free and secure life once she stops working.

Benefits of Using the Bank of Maharashtra Home Loan EMI Calculator

These three personal stories show how the Bank of Maharashtra Home Loan EMI Calculator can help, with real numbers to make things clear.

Story 1:

When Bank of Maharashtra offered me a home loan at 8.85%, I used their EMI calculator to check my payments. For my ₹45,00,000, 20-year loan, the EMI was ₹39,987.

I asked if they could match a competitor's 8.6% rate. After checking again, the new EMI was ₹39,242, saving me ₹745 each month. The total interest also dropped by ₹3,20,000. With these numbers, I was able to negotiate the lower rate. The calculator turned my guesswork into a clear argument.

Story 2:

At 45, I wanted my loan to end before I retired at 60. The calculator helped me find the best option. A 15-year loan of ₹35,00,000 meant a high EMI of ₹34,828.

When I chose a 12-year term, my total interest went down, but my EMI increased to ₹38,765. I also noticed that a 14-year term meant an EMI of ₹36,492 and still saved me ₹2,80,000 in interest compared to the 15-year plan.

If I have this clear information, then this will be helpful for me to balance my cash flow and plan for retirement with confidence.

Story 3:

I first planned a ₹10,00,000 down payment on a ₹60,00,000 flat, so I needed a ₹50,00,000 loan. The calculator showed a high 20-year EMI of ₹43,702. I felt stuck until I tried a 'what-if' scenario with a ₹15,00,000 down payment.

The loan dropped to ₹45,00,000, and the EMI fell to ₹39,332, giving me a ₹4,370 monthly relief. Seeing this number helped me arrange the extra funds. The calculator didn't just show a problem; it pointed to the solution, making my dream home possible.

Conclusion

The Bank of Maharashtra Home Loan EMI Calculator gives you clear information about your monthly payments and long-term costs. It helps you negotiate better rates, plan repayments to fit your goals, and manage your loan more effectively.

FAQS

What is a home loan from the Bank of Maharashtra?

The Bank of Maharashtra’s Maha Super Housing Loan is a low-interest option for buying, building, extending, or renovating a home. You can get up to 90% of your property’s value, choose a repayment period of up to 30 years, and enjoy flexible repayment options. Women and defence personnel also receive a 0.05% interest concession.

If I take a first home loan, what should I do?

If you are planning to take out your first home loan, it is important to plan your finances and do some research. Start by checking your budget so your EMIs stay below 40-50% of your income. Try to save 10-30% of the home’s price for a down payment, and make sure your credit score is in good shape.

How do we calculate bank staff housing loan EMI on simple interest?

Bank staff housing loans that use simple interest are calculated by finding the total interest with the formula Interest = Principal × Rate × Time. The interest is added to the principal to get the total amount owed, which is then divided by the number of months in the loan period. Unlike compound interest loans, this method does not charge interest on top of interest.

How are the EMI and the tenure calculated after the part payment of a home loan?

When you make part payments on your home loan, your principal balance goes down, so the lender recalculates how much you owe. The lender uses your new, lower principal, the current interest rate, and your chosen option to work out your updated repayment plan.

Is this a sign-up and use this calculator?

No, you do not need to sign up or log in. You can use the calculator online right away without registering.