Key Insights

Use the Bank of Maharashtra home loan interest rate calculator to check your EMI and plan your budget easily.

See if you can get a lower interest rate if you are a woman or have a salary account with the bank. This can help make your loan more affordable.

The processing fee is limited to 0.25% of your loan amount, up to ₹25,000. If you are a government employee, you may get a full waiver.

Are you planning to buy your dream home in Maharashtra?

Start by checking the Bank of Maharashtra home loan interest rate. If you have a bank of Maharashtra home loan interest rate for salary account, you may qualify for a special rate and faster approval.

The Bank of Maharashtra home loan interest rate decides how much you pay in your monthly EMI. This rate is a percentage of your loan amount. You can check the Bank of Maharashtra home loan interest rate calculator to estimate your payments.

I checked the Bank of Maharashtra home loan interest rate 2025 for a salary account using the calculator. For a ₹40,00,000 loan at 8.25% over 20 years, my EMI came to ₹34,100. This discount makes it easier for me to plan my home budget.

Types of Home Loans Offered by Bank of Maharashtra

Whether you want to buy land or set up a smart home, Bank of Maharashtra has a home loan to help you achieve your property goals.

Here is the table that helps you to understand the Bank of Maharashtra home loan interest rate:

Types of Home Loans	Key Features	Bank of Maharashtra Home Loan Interest Rate
Purchase of New House/Flat	Monthly payments are structured to remain affordable. Applicants may qualify for higher loan amounts. Loan status can be monitored through an accessible tracking system. A selection of pre-approved projects is available for consideration. The disbursement process is designed to be efficient and straightforward. All charges are disclosed transparently. No penalty is imposed for prepayment.	Home loan interest rates start at 7.15% for all schemes. If your rate is higher, it may be due to missing documents or a low CIBIL score.
Home Extension Loan
Plot Purchase Home
Housing Renovation Loan

Choose a Bank of Maharashtra loan that fits your needs, whether you want to buy a home, renovate, or purchase a plot. Find the right option for your property goals and budget.

Bonus Tip: Do you know? The borrower can reduce the interest paid on their home loan based on the daily balance in their linked flexi home loan savings account.

Bank of Maharashtra Home Loan Processing Fees & Charges

You can learn how to manage the final price of your home loan. See how Bank of Maharashtra home loan processing fees and charges can impact your total loan cost.

Types of Home Loans Fees	Details
Purchase of New House/Flat	The processing fee is 0.25% of the loan amount, with a maximum limit of ₹25,000. Government, state, central government, and public sector employees receive a full waiver of processing fees for takeover loans.
Home Extension Loan
Plot Purchase Home
Housing Renovation Loan

Use the 0.25% fee cap and look for any waivers to help keep your final loan amount unchanged.

How to Apply for Bank of Maharashtra Home Loan?

Understand the final price of your home. Find out how Bank of Maharashtra's home loan processing fees and charges affect your total loan cost.

Bank of Maharashtra Home Loan Online Process:

Here are the steps you can use to apply for a Bank of Maharashtra home loan online in just a few minutes.

Start your application by visiting the Bank of Maharashtra website and looking for the Online Loans section, or open the Mahamobile Plus app.
Enter your registered mobile number and the OTP you receive to verify your identity. Then, fill in your name, date of birth, and address.
Provide your work experience, monthly income, any deductions, current EMIs, and other financial information.
If you have a co-applicant, enter their details as well. If not, just select 'No'.
Enter the loan amount you need, the tenure, the purpose (such as purchase, construction, or repair), and property details like the agreement cost.
Choose the branch that is most convenient for you to continue your application.
Submit your Aadhaar and PAN details for instant e-KYC and financial verification.
Check the instant loan offer that appears and click Apply for Loan to proceed.
Download your offer letter and make a note of your application ID so you can track your application.

Get your home loan easily using the Bank of Maharashtra app. The process is simple and fully digital.

Bank of Maharashtra Home Loan Offline Process:

Visit your nearest Bank of Maharashtra branch for personalised guidance tailored to your needs.

Visit your nearest Bank of Maharashtra branch to get started.
Talk to a loan officer, who will explain the different home loan options, interest rates starting at 7.15%, available tenures, and help you check your eligibility.
Ask for the home loan application form and fill it in with your personal, financial, employment, and property details.
Submit your completed form along with all required KYC, income, and property documents for verification.
Pay the processing fee according to the bank’s current charges.
The bank will check your documents, review your CIBIL score, and carry out legal and technical checks on the property.
If your loan is approved, you’ll get a sanction letter. Review it and sign the final loan agreement.
The approved loan amount will be given out, usually in stages based on construction progress or directly to the builder or seller.

Customers may obtain in-person support and clear guidance by visiting a branch.

Conclusion

Start by using the Bank of Maharashtra home loan interest rate calculator. Next, see if there are special discounts for salary account holders or women. You can consider the clear fees and pick the application method that works best for you, which helps you to buy your dream home with confidence.

FAQS

Does Bank of Maharashtra automatically reduce home loan interest rates for existing customers?

When the RBI cuts repo rates, Bank of Maharashtra (BoM) usually lowers the Repo Linked Lending Rate (RLLR) for floating-rate loans, so existing customers benefit from reduced rates. However, the change does not happen instantly for everyone. If you have a good repayment history, you can ask the bank for a better rate or look into balance transfers to get an even better deal.

Does the Bank of Maharashtra offer a daily reducing balance for Home Loans?

Yes, Bank of Maharashtra offers home loans with a Daily Reducing Balance. This means interest is calculated each day on your remaining principal, which can help you save money. Their Maha Super Flexi Housing Loan also links to a savings account for extra interest benefits.

How is the home loan interest rate decided by banks?

Banks set home loan interest rates by considering central bank policy rates, such as the repo rate, and broader economic factors like inflation and competition. They also look at your credit score, income stability, and loan-to-value ratio.

Is the Bank of Maharashtra good?

The Bank of Maharashtra is a strong public sector bank with solid recent financial results. However, some customers have reported problems with in-branch service and digital banking. Whether it is right for you depends on what you need from a bank.

Can I make partial payments on my Bank of Maharashtra home loan?

Yes, you can make partial payments on your Bank of Maharashtra home loan. The bank does not charge any fees for making these part-prepayments.