Bank of Maharashtra Personal Loan | Beginning, How To Check Balance? and Important Details

Bank of Maharashtra Personal Loan: India’s Ministry of Finance owns the Bank of Maharashtra, a nationalised bank. As of March 25, 2021, the bank had 15 million clients and 1,900 branches. Maharashtra’s nationalised banks have the largest branch network. As of December 31, 2020, the bank’s overall business has surpassed 2,66,000 lakh crore.

This article presents to you certain information like Bank of Maharashtra balance check, Bank of Maharashtra share, and also about Bank of Maharashtra BC agent.

Want to compare Bank of Maharashtra with other bank personal loans for lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.

Bank of Maharashtra

Bank of Maharashtra Personal Loan Overview

The bank was established on September 16, 1935, with a US$1 million authorised capital and began operations on February 8, 1936.

It aided small businesses financially and gave birth to a slew of industrial enterprises. In 1969, the bank was nationalised.

Bank of Maharashtra Features

  • Bank of Maharashtra is a Maharashtra-based public sector bank that provides personal banking, cash management, retail lending, and other financial services.
  • Deposits, savings/current bank accounts, auto loans, personal loans, and retail trade financing are some of their offerings.
  • Foreign currency and export financing are provided by global banks to priority and small-scale sectors.
  • Corporate loans and equipment loans are two types of loans.
  • The bank’s overall branch network as of 31 March 2020 consisted of 1833 branches scattered across all 50 states and four union territories.
  • Foreign Exchange specialty branches are part of the branch network.

How to Apply for a Personal Loan in the Bank of Maharashtra?

  • Fill up the SMS banking form at your bank branch.
  • In the application, enter your phone number.
  • An MPIN will be mailed to your address.
  • Call the Toll-Free Number to activate your MPIN and begin using SMS Banking.
  • The bank requires its customers to register their phone numbers in order to utilise the toll-free Bank of Maharashtra balance check number. This may be accomplished by:
  • When you open an account, you must register your phone number.
  • Visiting a branch of the Bank of Maharashtra.
  • Contacting the Bank of Maharashtra’s customer service department

Bank of Maharashtra Personal Loan Eligibility Criteria

  • The age of the applicant needs to be between 21 to 58 years.
  • Permanent workers of Central or State Government, Companies of Private Sector and reputed organizations.
  • Both Salaried and Self – Employed with steady earnings.
  • The number of years in the current job or business should be up to 3 years.
  • Minimum income needs to be between Rs. 15,000 to Rs 25,000.

Bank of Maharashtra Personal Loan Documents Required

  • For identity proof, one needs to have a Passport, Driving License, Aadhaar Card, Voter Card.
  • As address proof: Rent agreement with a minimum stay of one year, Utility bills, Permanent residence proof, Ration card, Statement of bank account, Credit Card and statement latest.
  • Income proof: ITR of last two financial years for self-employed people, Salary receipt of Last six months for Salaried employees, Bank Record of the previous three months.
  • Photographs
  • Filled up and autographed application form.

Bank of Maharashtra Personal Loan Features

  • Quick and manageable processing of personal loan plea
  • Loan approval is quick
  • The bank does not pursue upon a warranter
  • The impressive and strong rate of interest
  • Offers particular strategies and deals for workers of big firms
  • For using a personal loan, usually, no assurance is required

Takeaways from the Article

The Bank of Maharashtra was founded on September 16, 1935, and began operations on February 8, 1936.

The Maharashtra Executor & Trustee Company Pvt Ltd was established as a wholly owned subsidiary of the Bank on April 10, 1946. The Bank of Maharashtra, along with 13 other banks, was nationalised in July 1969. The Bank grew fast once it was nationalised.

Hence, anyone looking to apply for a Personal Loan in this bank should now, be able to proceed with their cause, after reading this article.

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