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Bank of Maharashtra Mahabank Skill Loan

Skill-development finance for eligible NSQF and approved non-NSQF vocational courses, with collateral-free funding up to ₹7.50 lakh and repayment bands tied to the loan amount.

Interest rate9.55% p.a. effective rate.Maximum amountMinimum loan ₹5,000; maximum loan ₹7.50 lakh.TenureUp to 3 years for loans up to ₹50,000; up to 5 years for loans above ₹50,000 and up to ₹1 lakh; up to 7 years for loans above ₹1 lakh. Moratorium is up to 6 months after a course of up to one year and 12 months after a longer course.
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Quick eligibility check

Bank of Maharashtra Mahabank Skill Loan

0 of 4 answered

Answer what you know. This guide compares your answers with the criteria published for this product; it is not an approval decision. Your answers stay on this device.

1Can you provide this required proof: eligibility is based on admission/qualification for an eligible skill course and execution of loan documents?

Published source: Minimum income

2Do you meet this requirement: Applicant needs admission or eligibility for an approved skill course at an ITI, polytechnic, recognised school/college, NSDC partner or SIDH-onboarded training entity?

3Do you meet this requirement: Minimum qualification follows the enrolling institution's rules?

4Document checkDo you have at least one of these required documents: Loan application, KYC, course/admission evidence, co-borrower documents and any documents required by the training institution or bank?

Published source: Minimum income
0 of 4 answeredAnswer the remaining questions to see your checklist result.
✓ 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.

Loan typeSkill-development loan for eligible NSQF-aligned or approved non-NSQF vocational training courses.View source
The scheme covers vocational training and courses delivered by recognised or SIDH-onboarded entities.
Source
Mahabank Skill Loan Scheme
Page / section
Objective; courses and institution eligibility
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Interest rate9.55% p.a. effective rate.View source
The current table publishes + 1.50% = 9.55%.
Source
Retail Interest Rates
Page / section
Skill Loan Scheme
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
BenchmarkRLLR 8.05% + 1.50% = 9.55% p.a.View source
The current table prints benchmark, spread and effective rate.
Source
Retail Interest Rates
Page / section
Skill Loan Scheme
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
APRNo separate APR figure is published.View source
The reviewed scheme page has no fee-inclusive .
Source
Mahabank Skill Loan Scheme
Page / section
Complete scheme page
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Minimum incomeNo salary or annual-income threshold is published; eligibility is based on admission/qualification for an eligible skill course and execution of loan documents.View source
The official eligibility row defines course and documentation conditions, not income.
Source
Mahabank Skill Loan Scheme
Page / section
Eligibility criteria
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Maximum amountMinimum loan ₹5,000; maximum loan ₹7.50 lakh.View source
The quantum row states minimum Rs. 5,000 and maximum Rs. 7,50,000.
Source
Mahabank Skill Loan Scheme
Page / section
Quantum of Finance
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
TenureUp to 3 years for loans up to ₹50,000; up to 5 years for loans above ₹50,000 and up to ₹1 lakh; up to 7 years for loans above ₹1 lakh. Moratorium is up to 6 months after a course of up to one year and 12 months after a longer course.View source
The official rows publish each repayment band and moratorium period.
Source
Mahabank Skill Loan Scheme
Page / section
Moratorium; repayment
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Processing feeNil processing charges.View source
The processing-charge row states NIL.
Source
Mahabank Skill Loan Scheme
Page / section
Processing charges
Accessed
31 Aug 2026
Confidence
high
Open official source ↗
Prepayment / foreclosureNo prepayment term is published on the reviewed Skill Loan page.View source
The page publishes moratorium and repayment but no prepayment-charge figure.
Source
Mahabank Skill Loan Scheme
Page / section
Complete scheme page
Accessed
31 Aug 2026
Confidence
high
Open official source ↗

Benefits and features

  • ₹5,000 minimum and ₹7.50 lakh maximum loan
  • No collateral or third-party guarantee; CGFSSD cover required
  • Nil processing charges
  • Repayment up to 3, 5 or 7 years according to loan amount

Eligibility

  • Applicant needs admission or eligibility for an approved skill course at an ITI, polytechnic, recognised school/college, NSDC partner or SIDH-onboarded training entity. Minimum qualification follows the enrolling institution's rules.

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

Documents the bank lists

  • Loan application, , course/admission evidence, co-borrower documents and any documents required by the training institution or bank

Related official documents

Retail Interest Rates - complete remaining-loan reviewofficial-rate-table · current · accessed 31 Aug 2026
↗
Mahabank Skill Loan Scheme — official product pageofficial-product-page · current · accessed 31 Aug 2026
↗

Plan before applying

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Loan repayment estimate

See what the loan could cost each month. Move any slider to try a different amount, rate or repayment time.

One monthly payment₹21,696twenty-one thousand six hundred ninety-six rupees
Interest paid over the full loan₹27,06,939twenty-seven lakh six thousand nine hundred thirty-nine rupees
Everything you repay₹52,06,939fifty-two lakh six thousand nine hundred thirty-nine 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.

Use the published table

Find the exact published value

Choose a table, then pick its row and column. This shows the exact entry published by the bank or insurer without making you scan every cell.

Personal Loan · RateFrom 8.75% p.a.

This value is copied from Bank of Maharashtra personal, education, skill and gold loans — published terms. Check the table notes before relying on it.

Source: Bank of Maharashtra official retail loan pages · Personal, Model Education, Skill and Gold loan tables Open official source ↗

Published tables

Complete rates, limits and schedules

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

Table 1 · 4 rows · 5 columnsBank of Maharashtra personal, education, skill and gold loans — published termsView tableHide table

Scroll sideways to view every column

Bank of Maharashtra personal, education, skill and gold loans — published terms
ProductRateAmount / eligibilityTenureFees / security
Personal LoanFrom 8.75% p.a.₹3 lakh annual income; up to 20× gross monthly income, max ₹20 lakh60–84 months by scheme1% + ; unsecured; no prepayment penalty
Model Education LoanEducation page starts at 6.85% p.a.; model scheme links current table₹10 lakh India / ₹20 lakh abroad; parent/guardian co-borrowerUp to 180 plus course-period moratoriumAbroad processing 0.50% refundable on course take-up; collateral above ₹7.5 lakh
Mahabank Skill LoanNumeric rate not printed on reviewed scheme page₹5,000–₹7.50 lakh; eligible NSQF/SIDH courses36/60/84 months by amount; 6/12-month moratoriumNil processing; collateral-free with CGFSSD cover
Gold Loan8.50%–9.25% p.a. by slab and ₹20,000–₹1 crore; age 18+, own gold, ; no requiredTerm up to 24 months; bullet up to 12 monthsSlab fee ₹0–₹2,000 plus ₹100 + packing; gold pledged; no prepayment charge
Bank of Maharashtra official retail loan pages · Personal, Model Education, Skill and Gold loan tables · accessed 31 Aug 2026Open official source ↗

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