Maharashtra Gramin Bank Plot Loan

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Rates as low as 6.90%*
Loans Up to 15 Crore
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Maharashtra Gramin Bank Plot Loan Features

Interest Rate 8.50% p.a
Time Period Up to 10 – 15 years
Loan to Value Up to 80%
Processing Fees Up to 1% of the loan amount

Eligibility criteria for Maharashtra Gramin Bank Plot Loan

  • Age: The age of the candidate has to be at least 21 years and maximum it could be up to 65 years.
  • Income: The candidate should have regualr income.
  • Credit Score: The credit score should be above 650. 

Benefits of Maharashtra Gramin Bank Plot Loan

  • Maharashtra Gramin Bank Plot LoanMaharashtra Gramin Bank provides a variety of loans for different customers.
  • Interest rates are cutthroat and extravagant. 
  • Least documentation.
  • Provides Payment Options and Conditions to Borrowers.
  • Simple and quick approval and home loan disbursement.
  • 24/7 customer care Maharashtra Gramin Bank provides customer service.

Plot Loan

Maharashtra Gramin Bank plot loan is given to the salaried and self-employed people of Indian residents. Maharashtra Gramin Bank plot loan can be used for buying the plots. 

1. Tenure

The Maharashtra Gramin Bank plot loan period is 10 to 15 years.

2. Prepayment charge

Zero prepayment fee is levied by Maharashtra Gramin Bank for the applicants.

3. Loan to Value Ratio‭ (‬LTV‭)‬

The LTV for Maharashtra Gramin Bank is 80%.

4. Tax Benefits

Maharashtra Gramin Bank has zero tax benefits.

Types of Maharashtra Gramin Bank Plot Loan

Maharashtra Gramin Bank Plot loan

It is provided by Maharashtra Gramin Bank for buying a plot as per the applicant’s pick.

Maharashtra Gramin Bank Plot Loan with Construction Loan

Maharashtra Gramin Bank Plot with Construction Loan is the same as the plot credit by Maharashtra Gramin Bank however the individual who takes advance for plot is likewise needs to begin development on the land post the acquisition of the land.

Maharashtra Gramin Bank plot loans for self-employed

Type of plot loans self-employed

TruFixed plot Loan – 2 Year Integral Rate diversify
In TruFixed plot Loan by Maharashtra Gramin Bank, 2 years at the start of the term is always is fixed-rate and later is turned into variable-rate.

Adjustable-rate loan
In adjustable-rate loan by Maharashtra Gramin Bank, EMI and  the principal loan amount both change after 6 months.

Maharashtra Gramin Bank Interest Rates For self-employed Non – Professionals

Maharashtra Gramin Bank  Adjustable Home Plot Loan

Loan Plot Loan Interest Rate (%)
women (up to 30 lakh) 7.05 to 7.55
others (up to 30 lakh) 7.10 to 7.60
women (above 30 lakh) 7.30 to 7.80
others (above 30 lakh) 7.35 to 7.85
Women (75.01 Lakhs & Above) 7.40 to 7.90
Others (75.01 Lakhs & Above) 7.45 to 7.95
Maharashtra Gramin Bank TruFixed Loan – 2 Year Fixed Rate Variant
Loan Plot Loan Interest Rate (%)
Women (up to 30 Lakhs) 7.50 to 8
Others (up to 30 Lakhs) 7.55 to 8.05
Women (Above 30 Lakhs) 7.65 to 8.15
Others (Above 30 Lakhs) 7.70 to 8.20
Women (75.01 Lakhs & Above) 7.75 to 8.25
Others (75.01 Lakhs & Above) 7.80 to 8.30

Maharashtra Gramin Bank documents required for both self-employed Professionals and Non-Professionals

Requirements For Self Employed Individuals
Proof of Identity ID card, PAN Card, Passport
Proof of address Aadhar Card, Electricity/ Mobile Bill
Financial proof – ITR
– Business details, Profit and Loss statement from the business.
Other Documents – All the plot documents

Maharashtra Gramin Bank fees and charges for self-employed

Processing fee

Up to 1%.

Prepayment charges

Adjustable-Rate Home Loans – No prepayment required 

 

– The customer will be asked to provide documents that Maharashtra Gramin Bank finds proper and appropriate to verify the source of the loan at the time of the payment.

Fixed-Rate Home Loans – No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions
– The customer must submit documents that Maharashtra Gramin Bank finds proper and appropriate to determine the source of funding.
Fixed and Variable Rate Loans During the period of Fixed-Rate:
– The client must give documents approved by Maharashtra Gramin Bank to verify the source of the money through the repayment of the loan in advance.

 

During the Variable Rate:
– No prepayment will apply.
– The prepaid amount will apply on the date of the loan agreement.

The Conversion Fees

Name of the Service Name of the charge/fee levied When payable Frequency Amount
Switch to a lower rate in Variable Rate Loans Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is ₹ 50,000,000 tax.
Switching to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount at the time of conversion or whichever is lower is ₹ 50,000,000 tax.
Switching from Trufixed Fixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% original arrears and tax in excess of the undisputed amount at the time of conversion.
Switch to Lower Rate Conversion fees On conversion On every spread change Half of the spread difference on principal dues and unspecified amount plus taxes with a minimum fee of 0.5% and a maximum fee of 1.550%.
Switch to Lower Rate Conversion fees On conversion On every spread change 0.5% of tax in excess of the original outstanding and undisputed amount at the time of conversion.

Cheque dishonor charges

Mostly ₹ 200.

Fees on Account of External opinion

Based upon the kind of help given, backers and charges might be paid straightforwardly to the individual concerned

Property insurance

The customer must be active throughout loan term during by paying the premium.

Statutory/regulatory charges

Mod or Moe, Stamp duty to be paid off by applicant.

List of documents

Around ₹ 500

Photocopy of documents

Approximately ₹ 500

Increase/decrease in the loan term

Round about ₹ 500

Disbursement Cheque cancellation charge post disbursement

Around ₹ 200

Re-appraisal of loan

More or less ₹ 2000

PDC swap

Approximately ₹ 200

Maharashtra Gramin Bank for salaried individuals

Who can apply to Maharashtra Gramin Bank for salaried individuals?

Loan Maximum Amount(in %)
Up to ₹30 lakh up to 80%
₹ 30.01 lakh to ₹ 75 lakh up to 80%
Over ₹ 75 lakh up to 75%

Type of plot loans for salaried individuals

TruFixed plot Loan – 2 Year Fixed Rate change
In TruFixed plot Loan by Maharashtra Gramin Bank, 2 years at the beginning of the term is always is fixed-rate and later is turned into variable-rate.

Adjustable-rate loan
In this loan by Maharashtra Gramin Bank, EMI as well as the principal amount both change after 6 months.

Maharashtra Gramin Bank interest rates for salaried individuals

Adjustable Home Rate Loan

Loan Loan Interest Rates (in %)
Women (Up to 30 Lakhs) 7.05 to 7.55
Others (Up to 30 Lakhs) 7.10 to 7.60
Women (Above 30 Lakhs) 7.30 to 7.80
Others (Above 30 Lakhs) 7.35 to 7.85
Women (75.01 Lakhs & Above) 7.40 to 7.90
Others (75.01 Lakhs & Above) 7.45 to 7.95

TruFixed Loan – 2 Year Fixed Rate Variant

Loan Loan Interest Rates (%)
For Women (up to 30 Lakhs) 7.50 to 8
For Others (up to 30 Lakhs) 7.55 to 8.05
For Women (Above 30 Lakhs) 7.65 to 8.15
For Others (Above 30 Lakhs) 7.70 to 8.20
For Women (75.01 Lakhs & Above) 7.75 to 8.25
For Others (75.01 Lakhs & Above) 7.80 to 8.30

Maharashtra Gramin Bank documents required for salaried individuals

Requirements For Salaried Individuals
Proof of Identity PAN Card, Passport
Proof of address Aadhar Card, Electricity/ Mobile Bill
Financial proof – Must have last 6-month salary slips
– Credit score
Other Documents – All the plot documents

Maharashtra Gramin Bank fees and charges for salaried individuals

Processing fees

Up to 1%.

Prepayment charges

Adjustable-Rate Home Loans – No prepayment needed

 

– The applicant will be asked to handover the documents that  Bank considers appropriate to verify the source of the loan at the time of the payment.

Fixed-Rate Home Loans – No advance payment is required for any partial/full payment made by your sources i.e, other banks or financial institutions
– The customer must submit documents that Maharashtra Gramin Bank thinks appropriate to determine the source of funding.
Fixed and Variable Rate Loans During the period of Fixed-Rate:
– The client must submit documents approved by Maharashtra Gramin Bank to verify the source of the money during the repayment of the loan in advance.

 

During the Variable Rate:
– No prepayment will apply.
– The sum which should be paid ahead of time showed will apply on the date of the credit understanding.

Conversion fees

Name of the Service The charge levied When payable Frequency Amount (in Rs.)
Switch to lower rate in Variable Rate Loans Conversion fees On conversion On every spread change A cap of up to 50% of the original outstanding and the stipulated amount
Switching to Variable Rate Loan from Fixed Rate Loan Conversion fees On conversion Once A cap of up to 50% of the original outstanding and the stipulated amount
Switching from Trufixed Rate to Variable Rate Loan Conversion fees On conversion Once 1.75% original arrears and tax
Switching to Lower Rate Conversion fees On conversion On every spread change A min. fee of 0.5% and a max. fee of 1.550%.
Switching to Lower Rate Conversion fees On conversion On every spread change 0.5% of taxes

Cheque dishonor charges

Almost ₹ 200.

Fees on Account of External opinion

Subject to the kind of help gave, backers and charges might be paid straightforwardly to the individual concerned.

Property insurance

The client should be active during the advance term by paying the premium.

Statutory/regulatory charges

Mod or Moe, and stamp obligation should be paid by the candidate separately.

List of documents

Almost ₹ 500

Photocopy of documents

More or less ₹ 500

Increase/decrease in loan term

Approximately ₹ 500

Disbursement Cheque cancellation charge post disbursement

At most ₹ 200

Re-appraisal of loan

Approximately be ₹2000

PDC swap

Probably ₹ 200

How to apply for Maharashtra Gramin Bank  Plot Loan With Dialabank

  • For Maharashtra Gramin Bank, Dialabank provides a smooth application process.
  • You can do this by guiding to the Dialabank website and proceed accordingly i.e. Give the information asked in the form on the website and submit.
  • For further details, you can give a call – 9878981144.

Advance tips to get Maharashtra Gramin Bank  Plot Loan Easily

  • Make sure you have a good history of loans and credits.
  • Please provide relevant and genuine documents.
  • Experts will be guiding you through the process, please be with them.

Maharashtra Gramin Bank Plot loan with Construction vs Home Loan

Parameters Plot Loan with Construction Regular Home Loan
Tenure ‬Up to 10-15‭ ‬years Up to 30 years
Prepayment fine Free Free
Loan to Value (LTV) up to 80% up to ‬90%‭
Plot with Construction Loan interest rates The rates are similar to a home loan but can go higher. Start at 6.80%*
Tax Benefits Eligible after the construction of a building or home on the plot Home loan owners are eligible.

FAQ’s

What is the Plot credit loan interest Rate in the Maharashtra Gramin Bank?

The Maharashtra Gramin Bank Plot loan interest rate starts at 8.50%.

 What is a Maharashtra Gramin Bank?

Maharashtra Gramin Bank plot loan is given to the salaried and self-employed people of Indian nationality, Maharashtra Gramin Bank plot loan is used for purchasing land or a plot in our country.

 How much processing fee is applicable to the Maharashtra Gramin Bank?

Maharashtra Gramin Bank charges up to 1%.

 What is the loan tenure of the Maharashtra Gramin Bank?

The Maharashtra Gramin Bank Plot Loan tenure be up to 10 – 15 years.

 How much EMI per Lakh can be fixed on Maharashtra Gramin Bank?

The Maharashtra Gramin Bank Plot Loan EMI per Lakh is ₹ 744.

 How can I avail plot loan from Maharashtra Gramin Bank?

You can avail of Maharashtra Gramin Bank after passing the eligibility criteria of the Maharashtra Gramin Bank.

 How to Apply for a Maharashtra Gramin Bank Plot Loan?

Please visit the website of Maharashtra Gramin Bank to understand the application process or you can just call Dialabank at 9878981166.

 How to repay the Maharashtra Gramin Bank earlier than the schedule?

Visit the Maharashtra Gramin Bank website and check if you are eligible for the earlier payment.

Can I repay my loan before the scheduled period?

Yes, definitely possible with the Maharashtra Gramin Bank.

 How to check Maharashtra Gramin Bank + Plot Loan eligibility?

Please check the eligibility requirements mentioned on the Dialabank website or the website of the Maharashtra Gramin Bank.

 What is the Maharashtra Gramin Bank phone number?

For a Maharashtra Gramin Bank, you will have to call – 9878981166.

 What is the Maharashtra Gramin Bank Plot Loan interest rate for women?

For women, the Maharashtra Gramin Bank interest rate 7.05% – 7.20%.

 What is the Maharashtra Gramin Bank Plot Loan interest rates for salaried individuals?

Maharashtra Gramin Bank interest rate – 7.10% – 7.20%.

 What is the Maharashtra Gramin Bank Plot Loan interest rates for self-employed individuals?

Maharashtra Gramin Bank interest rate  – 7.10% – 7.20%.

 What are Maharashtra Gramin Bank’s interest rates for self-employed non-professionals?

Maharashtra Gramin Bank Plot Loan interest rate for Self-Employed Non-Professionals – 7.10% – 7.20%.

What is the difference between a Plot Loan and a Home Loan?

Few differences:

  • Tax benefits for Maharashtra Gramin Bank Home loan owners but no tax benefits for Maharashtra Gramin Bank.
  • Normally, the LTV in Maharashtra Gramin Bank plot loan is less i.e. up to 70% and Maharashtra Gramin Bank home loans can be 90%.

Is it possible to apply for a plot loan with a home loan?

No, multiple loans are not allowed for Maharashtra Gramin Bank.

 What is the total amount that I can withdraw as a loan?

The maximum loan amount is determined by the Maharashtra Gramin Bank after checking your land documents.

 Can a plot loan can be invested in any plot, anywhere?

Yes, a Maharashtra Gramin Bank Plot Loan can be used to purchase land anywhere in India.

 What is a Balance Transfer on Plot Loan?

Balance Transfer for Maharashtra Gramin Bank helps you lower your EMIs by transferring your remaining loan to other financial institutions to one that offers a lower interest rate.

Is there any tax benefits on a plot loan?

Maharashtra Gramin Bank Plot Loan has no tax benefits.

 How many years can I keep the plot of land before starting construction?

For Maharashtra Gramin Bank with Construction please check with the Maharashtra Gramin Bank by calling Dialabank at 9878981166.

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