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Bank Maharashtra Business Loan Interest Rate Calculator - Apr 2017

Last Updated 24th Apr 2017

Bank of Maharashtra Business Loan Interest Rates

Self Employed
Interest Rate 14.50% - 15.50% Check Best Offers
Lowest EMI Rs. 3,442 per lakh
Tenure From 12 months to 36 months
Loan Amount Min Rs. 50,000 and Max Rs. 150,000
Processing Fee 1 %, Min- Rs. 1000
Part Prepayment, Charges Allowed after 1 EMI's,
Early Foreclosure, Charges Allowed after 1 EMI's, Nil prepayment charges
Apply Business Loan @ 13.50%*
Rs.
Rs.
+91

Bank of Maharashtra Business Loan

Bank of Maharashtra gives the facility of business loan to the people who need finance to expand their business. There are some benefits of taking business loan from Bank of Maharashtra:

  • You can prepay part of your loan anytime after paying 1% prepayment charges
  • You can foreclose your entire Business loan anytime after paying the forclosure charges
  • Bank of Maharashtra has over 1,922 branches in India where you can avail service

Business Loan Bank Maharashtra

Business loan interest rates offered by Bank of Maharashtra are fixed as well as floating

  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in Bank of Maharashtra benchmark rate and should be chosen only if you believe that the rates will not hike in future
  • In contrast to this are floating rates which changes with a single change in Bank of Maharashtra benchmark rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates

Bank Maharashtra Interest Rate depends upon

  • Loan amount: Business loan rate in Bank of Maharashtra depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • CIBIL Score: Bank of Maharashtra offers business loan at higher interest rate if your CIBIL score is poor or vice versa
  • Monthly Revenue: Bank of Maharashtra will avail you business loan at lower interest rate if you have higher monthly revenue
  • Time in Business: Bank of Maharashtra offers business loan at lower rates if you are doing business since long time

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

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. and bank statement for minimum 6 months will be required by Bank of Maharashtra
  • 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
  • Bank statement of last 6 months

Compare Bank Maharashtra Business Loan

Bank Maharashtra Business Loan in India

Bank of Maharashtra Business Loan Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1800-102-2636
Ahmedabad 1800-233-7905
Ambala 1800-102-2636
Anand 1800-102-2636
Aurangabad 1800-102-2636
Bangalore 1800-425-8053
Bhilai 1800-102-2636
Bhilwara 1800-102-2636
Bhiwadi 1800-102-2636
Bhopal 1800-102-2636
Bhubaneswar Cuttack 1800-102-2636
Bikaner 1800-102-2636
Chandigarh 1800-102-2636
Chennai 1800-345-4566
Cochin 1800-102-2636
Coimbatore 1800-102-2636
Dehradun 1800-102-2636
Delhi 1800-114-747
Durg 1800-102-2636
Faridabad 1800-102-2636
Gandhinagar 1800-233-7905
Ghaziabad 1800-225-901
Goa 1800-102-2636
Greater Noida 1800-114-747
Gurgaon 1800-102-2636
Guwahati 1800-102-2636
Gwalior 1800-102-2636
Hyderabad 1800-345-4025
Indore 1800-102-2636
Jabalpur 1800-102-2636
Jaipur 1800-102-2636
Jalandhar 1800-102-2636
Jodhpur 1800-102-2636
Kanpur 1800-225-901
Karnal 1800-102-2636
Kolhapur 1800-102-2636
Kolkata 1800-345-3422
Kota 1800-102-2636
Kozhikode 1800-102-2636
Lucknow 1800-102-2636
Ludhiana 1800-102-2636
Madurai 1800-102-2636
Meerut 1800-102-2636
Mehsana 1800-102-2636
Mohali Sas Nagar 1800-102-2636
Mumbai 1800-225-901
Mussoorie 1800-102-2636
Nagpur 1800-233-4722
Nashik 1800-225-901
Noida 1800-114-747
Noida Extn 1800-114-747
Panipat 1800-102-2636
Patna 1800-102-2636
Pondicherry 1800-102-2636
Pune 1800-233-4525
Raipur 1800-102-2636
Rajkot 1800-233-7905
Ranchi 1800-102-2636
Rohtak 1800-102-2636
Roorkee 1800-102-2636
Salem 1800-345-4566
Shimla 1800-102-2636
Sonepat 1800-102-2636
Surat 1800-102-2636
Trichy 1800-102-2636
Udaipur 1800-102-2636
Vadodara 1800-102-2636
Varanasi 1800-102-2636
Vijaywada 1800-102-2636
Vizag 1800-102-2636
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Bank Maharashtra Business Loan News - Apr 2017
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