Business, & agriculture finance

Mahabank Scheme for Contractors

₹10 lakh to ₹10 crore in term loan, cash credit, letters of credit and guarantee facilities for established contractors meeting the published vintage, profitability and credit-score rules.

Facility amount₹10 lakh to ₹10 crore.Interest rateCurrent RLLR benchmark: 8.05% p.a.; final rate adds the sanctioned spread, with a possible collateral concession.Customer typeEligible civil, mining, engineering, transport, electrical, road, irrigation and pipeline contractors classified as MSMEs.

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✓ Manually checked 31 Aug 2026 · active

Offered byBank of Maharashtra

India

Key facts

What the official sources publish

Every value belongs to this exact product. Expand any fact to inspect its official evidence in place.

Customer typeEligible civil, mining, engineering, transport, electrical, road, irrigation and pipeline contractors classified as MSMEs.View source

Complete eligibility row reviewed.

Source: Scheme for Contractors
Page / section: Eligibility
Accessed: 31 Aug 2026
Confidence: high

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Business vintage / track recordAt least three years in the activity, three years' audited statements and profits in each of those three years; BBB+ applicable rating, CIBIL 700+ for proprietors/partners and CMR 1-5.View source

All vintage, profitability, rating and bureau-score rules reviewed.

Source: Scheme for Contractors
Page / section: Eligibility
Accessed: 31 Aug 2026
Confidence: high

Open official source ↗

Facility amount₹10 lakh to ₹10 crore.View source

Published minimum and maximum reviewed.

Source: Scheme for Contractors
Page / section: Quantum of finance
Accessed: 31 Aug 2026
Confidence: high

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Interest rateCurrent RLLR benchmark: 8.05% p.a.; final rate adds the sanctioned spread, with a possible collateral concession.View source

Scheme is -linked; current official is 8.05%; numeric spread is not published on the reviewed sources.

Source: Contractor Scheme and current notice
Page / section: Rate row; page 1
Accessed: 31 Aug 2026
Confidence: high

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TenureNot published.View source

No term-loan or working-capital tenure appears on the complete page, or applicable schedules.

Source: Scheme for Contractors
Page / section: Complete page and
Accessed: 31 Aug 2026
Confidence: high

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Collateral / securityCGTMSE cover is available up to ₹5 crore; collateral may reduce the applicable rate.View source

and collateral-concession conditions reviewed.

Source: Scheme for Contractors
Page / section: Rate; 7
Accessed: 31 Aug 2026
Confidence: high

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Processing feeWorking capital: nil up to ₹5 lakh, then 0.35% p.a. Term loan: nil up to ₹5 lakh; 1% above ₹5 lakh to ₹25 crore.View source

Both applicable processing-fee rows reviewed.

Source: Service Charges
Page / section: pages 80-81
Accessed: 31 Aug 2026
Confidence: high

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Required documentsApplication/KYC; Udyam and contractor records; net worth/ITRs; GST returns; three years' audited financials; CMA/projections; banking, work-order, security and licence records.View source

Complete common checklist and scheme-specific three-year rule reviewed.

Source: Proposal Checklist
Page / section: Rows 1-14 plus scheme eligibility
Accessed: 31 Aug 2026
Confidence: high

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Geographic availabilityIndia, through Bank of Maharashtra's MSME lending network.View source

Official national bank product page and application route reviewed.

Source: Scheme for Contractors
Page / section: Official application route
Accessed: 31 Aug 2026
Confidence: medium

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Prepayment / foreclosureFloating business-purpose loans to individuals and MSEs: no prepayment charge. Cash-credit takeover: 2% of limit, with MSE exemption. Other term loans: 2% when prepayment exceeds 25% of sanctioned limit.View source

All applicable closure and prepayment rows reviewed with exemptions.

Source: Service Charges - All Credit
Page / section: pages 93-94
Accessed: 31 Aug 2026
Confidence: high

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Benefits and features

₹10 lakh to ₹10 crore
Term loan and cash credit
FLC, ILC, bank guarantee and deferred-payment guarantee
route up to ₹5 crore

Eligibility

Eligible contractors must have at least three years in the activity, three years' audited statements, profits in all three years, BBB or better applicable rating, CIBIL 700+ for proprietors/partners and commercial 1-5.

Passing a listed condition does not mean the bank will approve an application.

Documents the bank lists

Signed application/request
Borrower, promoter, director and guarantor
Udyam and contractor/business registrations
Constitution and incorporation records
Net-worth certificates and
Board resolution where applicable
Verified returns
Three years' audited financials
/projections
Banking arrangements and sanction letters
Contract/work-order evidence
Lease/title deeds for security
External rating above ₹25 crore
Activity-specific licences

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Loan repayment estimate

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Amount you want to borrowThe money you would receive from the lender.₹twenty-five lakh rupees₹50,000₹2,00,00,000Yearly interest rateThe percentage charged on the outstanding loan each year.%2%30%Time to repayA longer time usually lowers the monthly payment but raises total interest. months6 months360 months

One monthly payment₹20,989twenty thousand nine hundred eighty-nine rupees

Interest paid over the full loan₹25,37,327twenty-five lakh thirty-seven thousand three hundred twenty-seven rupees

Everything you repay₹50,37,327fifty lakh thirty-seven thousand three hundred twenty-seven rupees

This is only an estimate, not a bank or insurer offer. The final amount can change because of taxes, fees, rate changes and provider rules.

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TableParameter

Eligibility · Published detailCivil, mining, engineering, transport, electrical, road, irrigation and pipeline contractors; ; BBB+; three years in business, three audited years and profit in all three; proprietors/partners 700+; 1-5

This value is copied from Mahabank Scheme for Contractors - complete published parameters. Check the table notes before relying on it.

Source: Scheme for Contractors · Complete parameter table and Open official source ↗

Published tables

Complete rates, limits and schedules

Tables preserve every reviewed row and column from the cited official source.

Table 1 · 7 rows · 2 columnsMahabank Scheme for Contractors - complete published parametersView tableHide table