Multiple banks. Different interest rates. Call it a "conflict of interest".
  • Bank of Maharashtra (BOM) Loan Scheme for Corporates is Rated as "Great!" by 9 Users

    Fees & Charges

    Promised Interest Rate

    Customer Service



    Bank of Maharashtra (BOM) Loan Scheme for Corporates

    The Loan Scheme for Corporates from Bank of Maharashtra offers funding to the corporate sector in order to set up units and conduct business activity, upgradation, modernisation and diversification. There are two facilities through which the scheme can be availed, viz. funded and non-funded facilities.


    • Term Loans to acquire machinery and fixed assets and finance business projects
    • Cash Credit to meet daily business requirements
    • Bill Discounting for post sales limit

    Term Loans

    • If taken out as a term loan, repayment can be made in instalments over a predetermined period of time
    • The maximum amount of money granted for term loans is usually 75% of the expense incurred on maintaining a 25%
    • Charge of assets is accepted as security

    Cash Credit

    1. A running account facility is provided under cash credit
    2. The maximum amount of loan sanctioned will depend on the Bank of Maharashtra’s valuation of working capital requirements
    3. Charge on current assets is accepted as security
    4. Collateral must be pledged if required

    Bill Discounting

    • The maximum amount of money that can be borrowed is a certain percentage of the bill’s value
    • Discounting is done under firm order or letter of credit
    • Charge on the bill is accepted as security
    • Collateral must be pledged if required

    Interest Rate

    The base rate on funded facilities is 9.70% and the BPLR is 15%


    • Letter of Credit facility to assist in buying goods / material
    • Letter of Guarantor facility to issue guarantee in the form of performance bonds, bid bonds, etc.
    • Working capital facility for importers and exporters to fund international trade

    For Exporters

    Exporters can avail working capital funds before shipment and after shipment of goods.


    • Finance in the pre-shipment stage is offered in the nature of Packing Credit
    • The purpose of the facility is to procure and/or manufacture those goods that are intended for export
    • The maximum amount of money that can be borrowed is up to 90% of Freight on Board value of goods
    • Charge on assets generated out of finance is accepted as security
    • Repayment can be made from discounting of export bills / proceeds of negotiation / proceeds from export


    • Export finance at the post-shipment stage is offered through discounting / negotiation of export bills, advance against export incentive and rupee advances against collection bills
    • The advances can be repaid from export receivable or proceeds and the rate of interest applicable conforms with the Reserve Bank of India guidelines

    Export finance can also be availed in foreign currency from the Bank of Maharashtra. The interest rates offered are internationally competitive and linked to LIBOR (1.5% + LIBOR). Funds in foreign currency at the pre-shipment stage can be acquired through Pre-shipment Credit and at the post-shipment stage, funds in foreign currency are extended through Discounting of Export Bill.

    For Importers

    • Funded facility: Finance is offered through cash credit
    • Non-funded facility: Finance is granted through Import Letter of Credit

    Short-term finance is also extended to resident constituents and importers in foreign currencies, allowing customers to access finance at internationally competitive rates that are linked to LIBOR. 

    Interest Rate

    The base rate on funded as well as non-funded facilities is 9.70% and the BPLR is 15%

    Bank of Maharashtra (BOM) Loan Scheme for Corporates Reviews

    • Bank of Maharashtra Personal Loan
      "Better loan for me"
      0.5 5.0/5 "Blown Away!"
      My personal loan was taken with Bank of Maharastra. I got the loan amount of Rs. 50000. 1 year before i bought the loan with the interest rate of 7.5% and I'm happy about that. There was no processing fee. I used to pay the EMI of Rs. 2000 and i have selected the tenure period of 3 years and i make the payment through ECS. I pay on time every time.
      Was this review helpful? 7
      , mumbai
      Reviewed on Dec 13, 2018
    • Bank of Maharashtra Personal Loan
      "Awesome Experience"
      0.5 5.0/5 "Blown Away!"
      Bank Of Maharashtra bank gave me good service on personal loan, they gave me the principal amount of Rs. 1.5 lakh for the tenure of 36 months. Now one loan got completed through foreclosure, another loan is running. interest rate which they offered me is upto the mark.
      Was this review helpful? 5
      , bangalore
      Reviewed on Nov 07, 2017
    • Bank of Maharashtra Personal Loan
      "Excellent service"
      0.5 5.0/5 "Blown Away!"
      I applied for the personal loan from Bank of Maharashtra, i was happy that my loan application was approved and the requested amount was disbursed. As i work this bank, the service was good and quick. I had taken loan for 1.5 lakhs with the rate of interest of 11% which is nominal when compared to other banks.
      Was this review helpful? 1
      , aligarh
      Reviewed on Oct 28, 2017
    • Bank of Maharashtra Personal Loan
      0.5 1.0/5 "Really Bad"
      ICICI was about to process my personal loan and asked for my documents for the verification and I have submitted the documents online as well, actually i needed the loan of 1.67 lakhs because I have home loan and card loan so balance amount I need to transfer in one so ICICI is charging me 11% rate of interest where other banks is offering by 8.5 something, so that's why dropped the plan.
      Was this review helpful? 1
      , baloda bazar
      Reviewed on Aug 27, 2017
    • Bank of Maharashtra Personal Loan
      "Excellent services"
      0.5 5.0/5 "Blown Away!"
      The personal loan process was good at Bank of Maharashtra. It was completed within three days. The rate of interest was also normal. It was a rate of 15.5%. The processing charges was of 3L for the loan amount of 1.5 Lakh. Overall it was a satisfactory experience.
      Was this review helpful? 1
      , bangalore
      Reviewed on Jun 17, 2016
    • Bank of Maharashtra Personal Loan
      "always good..."
      0.5 5.0/5 "Blown Away!"
      In all the times Bank of Maharashtra is fine. Bank employees will come my place to help. For us they have given very low rate of interest as 10% for the personal loan. In addition to that, for us the processing charge is zero and because of our company.
      Was this review helpful? 9
      , pune
      Reviewed on Nov 28, 2015
    • Bank of Maharashtra Personal Loan
      "Good "
      0.5 3.0/5 "Satisfactory"
      I could not recall the interest rate that been sanctioned to me for personal loan but offered rate is reasonable. Documentation process was not lengthy as it was smooth and quick. Also Bank of Maharashtra is nominal in processing charge. As my salary account is with them so got some offers and the loan got disbursed in 15 days of time. EMI date is 15th of every month.
      Was this review helpful? 4
      , mumbai
      Reviewed on Apr 29, 2015
    • Bank of Maharashtra Personal Loan
      "Great experience"
      0.5 3.5/5 "Pretty good"
      It was very easy for me to avail a personal loan from bank of Maharashtra because one of my friend is working with them. He helped me a lot and made the loan process much easier. Very quickly I have got the loan sanctioned. Compared to private banks documentation was very simple and the processing was little delayed upto 15 days but that's fine. I don't find anything problematic with this bank.
      Was this review helpful? 4
      , mumbai
      Reviewed on Aug 02, 2014
    • Bank of Maharashtra Personal Loan
      "Disappointing Service"
      0.5 2.0/5 "Expected more"
      I am overall satisfied with the Bank of Maharashtra salary account i am holding this account for the past four years the net banking fund transfer and the customer service is really good and i got sufficient number of ATM's and i get alert message from the bank when ever i make a transaction.
      Was this review helpful? 8
      , jalna
      Reviewed on Jul 12, 2014
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