SMPL
New Delhi [India], May 28: 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.
Flexible Repayment Options and Competitive Charges
The Maha Gold Loan Scheme offers flexible margins and schedules, with a 30% margin for 12-month bullet repayments and 25% for term loans or cash credit facilities.
The processing charges for the Maha Gold Loan Scheme have also been designed with customer convenience in mind for varying loan amounts:
* No processing charges for loans up to Rs3.00 lakh
* A nominal fee of Rs500 for loans ranging from Rs3.00 lakh to Rs5.00 lakh
* A nominal fee of Rs1000 for loans ranging from Rs5.00 lakh to Rs10.00 lakh
* A nominal fee of Rs1500 for loans ranging from Rs10.00 lakh to Rs20.00 lakh
* A modest fee of Rs2000 for loans exceeding Rs20.00 lakh
The Maha Gold Loan Scheme by Bank of Maharashtra marks yet another step towards fulfilling its commitment to provide innovative solutions to meet the varied financial needs of its customers. With this scheme, customers can leverage their Gold assets to secure funds on favorable terms, reinforcing the Bank's reputation as a customer-friendly institution dedicated to financial well-being. Apply now and experience the peace of mind that comes with Bank of Maharashtra's trusted solutions.
To get more information, please visit: https://bankofmaharashtra.in/
(ADVERTORIAL DISCLAIMER: The above press release has been provided by SMPL. ANI will not be responsible in any way for the content of the same)
