A personal loan is an unsecured loan that lets you borrow the money from the banks and non-banking financial organization to meet their personal needs. The loan will be provided on the basis of income, credit score, and history of employment history, repayment capacity. In this, you don’t have to keep anything for security such as gold or home as it is an unsecured loan. And the applicant can use this amount of loan anywhere he/she wants to do; there is no restriction on the use of the bank; you are free to make your choice. As it is totally, depends on the borrower in what they want to use the money like to pay your credit card bills, to make your home and for wedding purposes. However, everyone has a reason to get a personal loan, and it helps to overcome such problems.
Why choose Bank of Maharashtra Personal Loan?
This is a leading bank and offers a great deal on a personal loan to customers. Through this loan many problems may be solved, and health problems may arise, and you might not have enough money to pay off the hospital bills, and other problem may arise like the debts need to be paid, and making a home, higher studies a lot of it is their where the customers will approach for the loan. So the banks help customers to fulfill there needs.
- It is Easily Available: It is available easily at all the banks and non-financing companies give personal loans to the customers, and it comes for great use to fulfill one's personal need.
- Minimum Documents: Minimal documentation nothing to be given as a security purpose.
- Fast Approval: Instantly approved with hassle-free within 24 to 48 hours.
Bank of Maharashtra Personal Loan Eligibility
There are some eligibility criteria on the basis of which the bank provides a personal loan to the applicant. There are two categories of applicants:
There are different eligibility criteria for both applicants.
- The minimum age of the applicant should be 21years and maximum up to 60 years.
- If the applicant is residing in a metropolitan city, then they should have a minimum income of Rs 18,000. And if the person is from a non-metropolitan city, then they should have a minimum salary of Rs 12,000.
- The applicant should have the work experience of the last three years, and the salary should come in their account only.
- The applicant must have a good credit history, and credit score should vary between 650 to 700.
- The applicant must have to submit their bank statement of the last three months and the salary slip of the last six months.
- The minimum age of the applicant should be 25 years and maximum up to 65 years.
- The applicant should file ITR for the last three years.
- The credit score of the applicant should be good, and no debt should be left due.
- The ITR which the applicant files should be of Rs 2.5 lakhs per annum at least.
- And the applicant has a business than his business should be running from the last three years.
Bank of Maharashtra Personal Loan Documents
- Identity proof: It includes Aadhaar card, Passport, Voter card, Driving license.
- Residence proof: It includes Updated Passbook, Aadhaar card, Passport, Voter card, Driving license, ration card. And if the applicant is living in a rented apartment, then they have to submit their rental agreement, electricity & water bill which has to be in the name of the applicant and the address of the owner.
- Two colored photographs
- The applicant has to submit their PAN card which is an essential document under the KYC formality.
- If the applicant is a salaried one, then they have to submit their salary slip of the last three months and the bank statements of the last six months.
- And if the applicant is a self-employed then they have to submit the ITR of the last three years and registration of their business should be done.
Last 3 months salary slips & last 6 months bank statement
ITR of 2.5 lac minimum for last 3 years
Identity Proof: Aadhaar Card/Pan Card/Voter Id/ Driving License/ Passport
Address Proof: Aadhaar Card/Pan Card/Voter Id /Passport/Driver License and if the person is living in a rented apartment then rental agreement, electricity & water bill and owner’s address
Two colored photographs
PAN Card photocopy
Bank of Maharashtra Personal Loan Interest Rate
The interest rate may vary from person to person as it depends upon the salary and CIBIL score of the applicant. The interest rate of personal loan starts from 10.75% per year.
Bank of Maharashtra Personal Loan Tenure
The tenure of the personal loan is from 1 year to 5 years.
Bank of Maharashtra Personal Loan Benefits:
- No Restriction on Usage Money: Apart from the other loans, the money which you’ll be getting through the personal loan can be utilized anywhere as per your needs. This loan is to deal with the problem arise at home like repairing the house, to pay hospital bills and for the unexpected events.
- No collateral: Apart from the other loans, the documentation procedure is simple and no need for collateral.
- Flexible Amount of loan: It depends on the customer financial history and credit report according to it you will get the loan.
- Flexible Terms: 1 year to 3-year terms will be given, and it depends on banks.
- Loan Disbursal: After the approval of your loan the submission of the documents, the process of loan disbursal is very quick.
- Sanctioned Loan: If you are eligible your loan gets approved within 24 hours.
- No Third party involvement: The loan is directly given to the borrower without the participation of the third party. It is a relationship between the borrower and the lender.
- Hassle free: Getting a personal loan is now a hassle-free process. Online loan portals have made it more convenient and easy. You can get the loan amount in your account without stepping out of your place.
Why apply for a Personal Loan in Dialabank?
You can apply for Bank of Maharashtra personal loan online on the website of dialabank.com. You have to search for Dialabank on google. As the banking industry is going to be the 3rd largest in the world by 2025 and a lot of growth will be there in digital marketing, and we Dialabank help the customer to get a loan and delivers in time as Dialabank is linked up with various banks. And it is India’s first financial helpline company it provides loan for its customers. Now users can apply for a personal loan through Dialabank. So search for Bank of Maharashtra personal loan there. Fill the application form with the basic information of yours and click on apply button. You will get a call back from our side within 5 minutes. You can call on 60011600 too for more information about Axis bank personal loan.
- Check your Eligibility: We have a calculator so that it will be helpful for the customer to know their EMI.
- Instant loan Approval: After submitting all the documents for the personal loan then the customer will get instant approval.
- Doorstep Facility: You will get a document pickup facility from your doorstep.
- Responsive: The customer query response is very quick.
- No other charges: there are any other charges for the guidance of the customer’s queries.
- For more information, you may call on 9878981166
About Bank of Maharashtra
Bank of Maharashtra is a public sector bank that is serving about 15 million customers across the country with its brilliant financial products. The bank was founded in 1935, and it has 1897 branches in India. Bank provides various financial products to the customers. It includes Loans, insurances, banking, credit cards internet banking and wealth management. Not just a personal loan as it provides various other loans too like home loan, car loan and education loan, so these all loans are categorized as secured loans and unsecured loans. The personal loan comes in the category of unsecured loan.
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