In times of rising prices and financial uncertainty, individuals often need immediate financial relief. Be it to manage wedding expenses, finance educational activities, deal with medical emergencies, or support business ventures, ready access to funds can make a significant difference. Recognizing this urgent need, Bank of Maharashtra takes a step forward with Maha Gold Loan Scheme, This carefully crafted scheme is more than just financial assistance; This is a comprehensive solution. Apply now to secure the funds you need for your expenses through Maha Gold Loan Scheme.
Easy financial assistance with Maha Gold Loan Scheme
Understanding that financial needs can vary greatly, Bank of Maharashtra has made the Maha Gold Loan Scheme as inclusive as possible. With loans starting from Rupee. 20,000 and can be increased up to Rs. With the possibility of further expansion up to Rs 25 lakh. Rs 100 lakh under certain conditions-The scheme aims to serve diverse customers. Individuals can avail these loans at affordable interest rates 9.30% p.a (terms and conditions apply)
Up to Rs. 10 Lakh Zero processing fee, prepayment penalty, and more
It is noteworthy that the plan Zero processing fees for loans up to Rs. 10 lakhsWith no prepayment penalties, documentation or inspection charges, reflecting the Bank’s commitment to provide a burden-free experience to its customers. This plan further simplifies financial responsibilities by providing Lower equated monthly installments (EMIs), Which means there is enough disposable income available every month. Additionally, beneficiaries are exempted from Prepayment Penalties, Documentation, and Inspection Fees, This approach reduces the financial burden on borrowers.
Simplified lending experience
The bank’s customer-centric approach is further evident through its dual offering in convenience types with benefits like – Term Loan or Cash Loan – Empowering customers with choice, This is coupled with a flexibility Tenure up to 24 months, Which allows borrowers to choose the repayment schedule that suits their individual needs.
How is the gold loan amount decided?
The loan amount for gold jewelery depends on the prevailing market rate per gram of 22 carat gold and the prevailing scale of finance decided by the bank from time to time. The bank can give up to 85% of the market value of gold as loan. One can easily check their eligibility and scale of finance on the bank’s website.
Flexible repayment options and competitive fees
Recognizing individual financial circumstances, the scheme offers flexible margins and repayment plans. For borrowers comfortable with a larger lump sum amount on maturity, a 30% margin on 12-month bullet repayment is applicable, which means you settle the entire loan in one go at the end of the loan tenure.
The processing fee for Maha Gold Loan Scheme has also been designed keeping in mind the convenience of the customer for different loan amounts:
- No processing fee for loans up to Rs. 3.00 lakh
- nominal fee of For loans ranging from Rs 1500 From Rs 10.00 lakh 20.00 lakh
- nominal fee of For loans above Rs 2000 20.00 lakh
Maha Gold Loan Scheme of Bank of Maharashtra is another step towards fulfilling its commitment to meet the various financial needs of its customers through innovative solutions. In line with this customer-centric approach, the Bank is also working on digitizing the gold loan application process, which will soon be made live for customers. Customers across the country can now leverage their gold assets to secure funds at favorable terms, underscoring the Bank’s reputation as a customer-friendly institution.
To get more information, please visit: Bank of Maharashtra.
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