Loan Details

Interest Rate

9.55% onwards

Processing Fee

1% of the loan amount above + GST





Up to 7 years

  • Eligibility Factors
  • Documents Required
  • Loan Verification Process
  • Rate of Interest
Bank of Maharashtra Personal Loan
  • Age
  • 21 - 60 years
  • Credit Score
  • 650 or more
  • Employment type
  • All confirmed employees of Central or State Governments, PSUs, Public or Private Ltd Companies, Reputed Corporates, MNCs, etc., drawing salary from our Bank.
  • Salaried customers, not having a salary account with our Bank, are to be considered for Personal loan subject to Employer undertaking for deduction of loan installment from salary.
  • Self–employed professionals: Only Doctors, CAs, Architects, etc., having their own business, can also be given personal loans in case they are banking with us (with a Credit facility) for the last one year.
  • Minimum Annual Income
  • Rs. 3 lakhs
  • Work experience
  • Total work experience required is 5 years, with minimum of one-year stability in the current organization.
  • Photo Identity Proof: A copy of your Passport, Voter ID, Aadhaar Card, or Driving License.
  • Address Proof: A copy of your Electricity Bill, Ration Card, or Passport.
  • Income Proof: Salary Slips, Bank Account Statement, ITR, or Form 16.
  • Employment Certificate: A certificate stating one year of continuous employment (for salaried applicant)

The loan verification process at Apnapaisa is straightforward and simple:

  1. Fill in the application form and submit it along with the other required documents. It can be quickly done by signing up on
  2. You will receive a call from one of our representatives within 24 hours to schedule a pickup of the documents if you opt for offline submission of the documents.
  3. The concerned department representatives at Bank of Maharashtra will verify the documents and the details.
  4. After completing the loan’s verification process and approval, the lender will call you with the loan offer and ask for your consent for disbursal.
  5. Once you have accepted the loan offer, the amount gets credited to your accounts within 48 hours.
  6. You will get a copy of the duly signed loan agreement containing details of loan interest, tenure, loan amount, charges, and penalties.

Starting from as low as 9.55%, the rate of interest applicable varies between 2.65 - 3.65% in addition to the current RLLR, depending on the borrower’s CIBIL score. CIBIL Score Rate of Interest Effective Interest
  • 750 and above 9.55% 2.65% + RLLR*
  • 650 to 749 10.05% 3.15% + RLLR*
  • 600 to 649 10.55% 3.65% + RLLR*
  *RLLR = Repo Linked Lending Rate