Bank of Maharashtra’s Maha Gold Loan Scheme Offers Tailored Financial Solutions for Personal Needs

Mumbai, June 18, 2024.

In times of rising prices uncertainty, finding swift financial relief becomes paramount for individuals in need of urgent financial needs, from wedding expenses to medical emergencies or educational pursuits and ready access to funds can make a significant difference. Recognizing this pressing need, Bank of Maharashtra takes a step forward with its Maha Gold Loan Scheme. Crafted with care, this scheme is more than just financial support; it is a comprehensive solution tailored to your needs. Apply now to secure the funds you need for your personal expenditures through the Maha Gold Loan Scheme.

Accessible Financial Support with the Maha Gold Loan Scheme

Recognizing the diverse financial needs of its clientele, Bank of Maharashtra has structured the Maha Gold Loan Scheme to be as inclusive as possible. With loans starting from Rs. 20,000 and extending up to Rs. 100 lakh—this scheme caters to a wide range of needs. What’s more, loans are offered at a competitive interest rates of 9.30% p.a. ensuring affordability for borrowers.

Zero Hassle, Zero Charges

One standout feature of the Maha Gold Loan Scheme is lower processing charge for loans, along with no prepayment penalties, documentation, or inspection charges. This reflects the Bank’s commitment to providing a hassle-free experience for its customers. The scheme further simplifies financial responsibilities with no prepayment penalties, documentation, and inspection charges. This approach eases the financial burden on the borrowers. 

Simplified Borrowing Experience

The Bank’s customer-centric approach is further evident through benefits such as its dual offering in facility type – Term Loan or Cash Credit—empowering customers to choose according to their preferences. This is coupled with a flexible tenure of up to 24 months for term loans, allows borrowers to choose a repayment schedule attuned to their individual needs. The scheme also simplifies the borrowing process with straightforward out-of-pocket expenses, including a nominal packing charge of Rs. 100 plus GST.

Flexible Gold Loan Options

Eligibility for the gold loan requires applicants to fulfil KYC guidelines, ensuring a streamlined process for borrowers. With a higher loan eligible limit which is based on the gold prices is updated regularly so that you get the maximum amount of loan on your gold. The Loan-To-Value (LTV) ratio of 75% ensures that borrowers receive a fair valuation of their gold assets throughout the loan tenure.