Bank of Maharashtra, a trusted public sector bank with 81.61% Government ownership and 15 million+ customers offers personal loans with interest rates from 9.75% to 14.55% p.a. Whether for education, travel, or major expenses, Bank of Maharashtra Personal Loan provides instant funds, minimal documentation, and hassle-free disbursement to meet your financial needs.

Whether for education, travel, or big purchases, the personal loan offers instant funds with the best deals to meet your financial needs.

Read this article further for more details about personal loans by Bank of Maharashtra -

Bank of Maharashtra Personal Loan Interest Rates 2025

The below table shows you the latest Bank of Maharashtra personal loan interest rate  for 2025 - 

Particulars	Details
Interest Rates	9.75%-14.55% p.a.
Loan Amount	Maximum Rs.20 Lakhs
Repayment Period	For Salaried - 84 months  For Others - 60 months

Bank of Maharashtra Personal Loan Interest Rates Based On CIBIL Score and Job Profile

Category A – For permanent employees of the Central/State Government, Public Sector Undertakings, and Government Educational Institutions. 

Applicants Holding a Salary Account with Bank of Maharashtra

CIBIL Score	Interest Rates (per annum)
800 and above	9.75%
776-799	10.05%
750-775	10.55%
681 to 749	11.05%
680 and below	13.05%
NTC or -1 or 0	10.75%

For applicants with a salary account in banks other than the specified one -

CIBIL Score	Interest Rates (per annum)
800 and above	10.55%
776-799	11.05%
750-775	11.55%
681 to 749	12.05%
680 and below	14.05%
NTC or -1 or 0	11.80%

Category B – For permanent employees of private or public limited companies with an external rating of “A” or above.

For applicants with a salary account in the Bank of Maharashtra -

CIBIL Score	Interest Rates (per annum)
800 and above	10.55%
776-799	11.05%
750-775	11.55%
681 to 749	12.05%
680 and below	14.05%
NTC or -1 or 0	11.80%

For applicants with a salary account in any other bank -

CIBIL Score	Interest Rates (per annum)
800 and above	10.95%
776-799	11.55%
750-775	12.05%
681 to 749	12.55%
680 and below	14.55%
NTC or -1 or 0	12.30%

Category C – For confirmed employees whose salary is credited to the Bank of Maharashtra, with either an employer tie-up or an irrevocable undertaking from the employer.

CIBIL Score	Interest Rates (per annum)
800 and above	10.95%
776-799	11.50%
750-775	12.00%
681 to 749	12.50%
680 and below	14.05%
NTC or -1 or 0	12.30%

Types of Bank of Maharashtra Personal Loan

Here are the top Bank of Maharashtra Personal Loans, go through them accordingly - 

1. MAHA BANK PERSONAL LOAN SCHEME For Salaried Customers
2. MAHA BANK PERSONAL LOAN SCHEME for Professionals 
3. MAHA BANK PERSONAL LOAN SCHEME for Business Class having Home Loan with them. 

MAHA BANK PERSONAL LOAN SCHEME For Salaried Customers

The Maha Bank Personal Loan Scheme offers term loans for salaried individuals to meet personal expenses. Eligible borrowers are classified into three categories based on employment type and salary account relationship. The repayment period is up to 60 months, with a nil margin and no guarantor required. The deduction limit is 65% of gross monthly income for Category A and 60% for Categories B & C, including the proposed EMI. Applicants must have a minimum annual income of Rs.3 lakh and provide ITR/Form 16 for the past year from their current employer. 

MAHA BANK PERSONAL LOAN SCHEME for Professionals

The Maha Bank Personal Loan Scheme for Professionals offers term loans up to Rs.20 lakh for self-employed professionals such as CAs, doctors (MBBS/MD/MS/MDS), architects, and company secretaries with an account relationship with the bank.  Applicants must have a minimum annual income of Rs.3 lakh and provide ITR/Form 16 for the past two years. The loan has a repayment tenure of up to 60 months, with no margin, security, or guarantor required. The deduction limit is 60% of the gross average annual income from the last two years.

MAHA BANK PERSONAL LOAN SCHEME for Business Class having Home Loan with them

The Maha Bank Personal Loan Scheme for Business Class offers term loans up to Rs.20 lakh for existing home loan borrowers with a satisfactory repayment track record of at least six months and no overdue history. Applicants must have a minimum annual income of Rs.3 lakh and provide ITR/Form 16 for the past two years. The loan has a repayment tenure of up to 84 months, with no margin, security, or guarantor required. The deduction limit is 65% of the gross annual income, including the proposed EMI. Interest rates apply as per bank norms.

Bank of Maharashtra Personal Loan Eligibility

Below are the eligibility criteria required for the Maha Bank personal loan application:

Criteria	Salaried
Age	Minimum: 21 years old  Maximum: 60 years old
Income	Corporate salaried individuals: Minimum of Rs.3 lakh p.a.
CIBIL Score	750+
Residential Status	Resident of India
Current Status	1 year in the current organization
Loan Tenure	Up 84 months

Documents Required for Bank of Maharashtra Personal Loan

Here are the documents required for applying for the Bank of Maharashtra Personal Loan based on the job profile:

For Identity Proof (Any One):

• Voter ID, PAN Card, Aadhaar Card, Driving License, Passport
• Photo ID issued by the employer

For Address Proof (Any One):

• Electricity/Telephone (Landline) Bill, Voter ID, Aadhaar Card, Driving License, Passport
• Employer-issued Photo ID

Additional Documents - 

For Salaried Applicants:

• Latest 3 months' salary slips
• IT returns/Form 16 for the last 2 years
• Employer’s undertaking for EMI remittance (if applicable)
• 6 months' salary account statement (if with another bank)

For Self-Employed/Business Professionals:

• IT returns (3 years; 2 years for professionals) with P&L, Balance Sheet
• Business registration/license/tax registration
• Shop Establishment Act certificate
• 1-year bank statement

Note: Additional documents may be requested by the bank at its discretion.

Bank of Maharashtra Personal Loan EMI Calculator

If you are interested in availing a loan of Rs.10,00,000 from the Bank of Maharashtra for 5 years at the rate of 9.75% p.a to 14.55% p.a, calculate your monthly EMIs using the Wishfin Bank of Maharashtra Personal Loan EMI Calculator online.

You only need to put three details - 

• Tenure 

• Interest Rate 

• Loan Amount 

TENURE	Interest Rate (9.75% pa.)	Interest Rate (14.55% pa.)
1	Rs.87,799.66	Rs.90,046.11
2	Rs.46,029.62	Rs.48,273.12
3	Rs.32,149.94	Rs.34,445.37
4	Rs.25,242.69	Rs.27,603.17
5	Rs.21,124.24	Rs.23,554.37

Other Fee/Charges on Bank of Maharashtra Personal Loan

The table shows you the additional charges applicable to the Bank of Maharashtra Personal Loan the addition to the respective interest rate -

Charges	Rates
Processing Fee	1% of the loan amount + GST with Rs.1,000 as a minimum charge
Documentation Charges	0.20% of the loan amount + GST

Features of Bank of Maharashtra Personal Loan

Under are the features and benefits mentioned for Bank of Maharashtra Personal Loan - 

• Low EMI & Higher Loan Amount – Get loans up to Rs.20 lakh with affordable EMIs.
• Track My Loan – Easily monitor loan status online.
• Simplified Disbursement – Quick and hassle-free loan processing.
• Minimal Documentation – Requires basic identity, income, and address proof.
• Lowest Processing Fee – Competitive processing charges starting from 1% + GST.
• No Hidden Charges – Transparent terms with no undisclosed fees.
• No Prepayment Facility – Fixed repayment schedule with no early closure option.

Bank of Maharashtra Personal Loan Application Form

If you are willing to apply for a Bank of Maharashtra personal loan, it is easy for you to do the same. Yes, you can visit the online site of the bank, and download the form for the personal loan. You can visit the bank in person to get the application form. You can avail of the form either online or offline and apply for a personal loan without any hassle.

Conclusion

Bank of Maharashtra Personal Loan is an excellent financing option for individuals seeking funds for personal expenses like education, travel, home renovations, or big-ticket purchases. With competitive interest rates ranging from 9.75% to 14.55% p.a. The loan comes with minimal documentation, no hidden charges, quick processing, and easy tracking, making it a hassle-free option. Whether you are a salaried employee, self-employed professional, or home loan customer, Bank of Maharashtra Personal Loan ensures a smooth borrowing experience.  

FREQUENTLY ASKED QUESTIONS

1. What is the latest Bank of Maharashtra Personal Loan interest rate?

The personal loan interest rate of the Bank of Maharashtra starts from 9.75% up to 14.55% p.a.

2. What is the maximum Bank of Maharashtra Personal Loan amount I can avail of?

You can avail of a personal loan up to 20 times your gross monthly income from the Bank of Maharashtra, with a maximum limit of Rs.20 lakhs.

3. What are the eligibility criteria for salaried individuals under Bank of Maharashtra Personal Loan?

• Age: Between 21 and 60 years.
• Income: Minimum annual income of Rs.3 lakh.
• Employment: At least one year of continuous employment with the current employer.

4. What is the processing fee for the Bank of Maharashtra personal loan?

The processing fee is 1% of the loan amount plus applicable GST.

5. What is the tenure for Bank of Maharashtra personal loan repayment?

The loan tenure can extend up to 84 months, depending on the loan amount and the applicant's profile.

6. Whom do I contact for Bank of Maharashtra Personal Loan queries?

For any personal loan queries, you can contact the Bank of Maharashtra's customer care at 1800-233-4526 or 1800-102-2636.