Bank Maharashtra Business Loan Interest Rate Calculator - Aug 2017

Business Loan Charges

Foreclosure Charges- These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Bank of Maharashtra allows prepayment of business loan after paying 1 EMI’s with prepayment charges - Nil prepayment charges

Processing Fee- Bank of Maharashtra asks for a processing fee of 1 %, Min- Rs. 1000 of loan amount with applicable service tax

Bank Maharashtra Business Loan EMI Calculator

Bank of Maharashtra Business Loan EMI is a fixed amount that you pay each month towards the repayment of your business loan till the end of tenure. Lowest EMI offered by Bank of Maharashtra is 3,442 per lakh loan amount. Business loan EMI of Bank of Maharashtra depends on factors like:

• Interest Rate: Higher the interest rate, higher will be the EMI. For a 36 months business loan from Bank of Maharashtra at interest rate of 14.50% per annum, EMI will be Rs. 3,442 per Rs. one lakh loan amount. At interest rate of 15.50% for the same loan, the EMI will be Rs. 3,491
• Loan tenure: Longer the loan tenure, lesser your monthly EMI. At interest rate of 14.50% per annum, the EMI on Bank of Maharashtra business loan would range from Rs. 9,002 to Rs. 3,442 for loan tenure ranging from 12 to 36 months
• Amount Borrowed: Bank of Maharashtra Loan EMI will be high if you apply for a high loan amount. For amount borrowed 50,000, the EMI at 14.50% for 36 months would be 1,721. Similarly for amount borrowed 150,000, the EMI at 14.50% for 36 months would be 5,163.

What are the benefits of calculating business loan EMI?

• Business loan EMI calculator of Bank of Maharashtra helps you to calculate your monthly EMI at different rate of interest
• Bank of Maharashtra EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
• You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Bank Maharashtra Business Loan Eligibility Calculator

Business loan eligibility criteria Bank of Maharashtra

Eligibility of Business loan in Bank of Maharashtra relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are

• Profitability: Business loan eligibility significantly depends upon profitability status and future prospects of your business.
• Business Stability: Future business prospects and its stability is important to improve your eligibility for business loan. Bank of Maharashtra requires minimum business track record of 60 months.
• CIBIL Score: When checking eligibility for business loan, Bank of Maharashtra will look at the complete CIBIL report. Bank of Maharashtra will check your repayment history for all current and past loans and credit cards.

Business Loan Bank Maharashtra documents required

• Address proof of individual: Aadhar Card, Voter’s ID Card, Bank statement, registry copy, rent agreement , utility bills.
• Identity proof of individual: Passport, Driving License, PAN Card, Aadhar Card, Voter’s ID Card
• Business existence proof: PAN, sales tax/ excise/ VAT/ service tax registration, copy of partnership deed, trade license, certificate of practice, registration certificate issued by RBI, SEBI

Compare Bank Maharashtra Business Loan

Bank Maharashtra Business Loan in India