BOM Maha Super Flexi Housing Loan Scheme

Buying your dream home shouldn’t be a stressful experience. That’s why the BOM Maha Super Flexi Housing Loan Scheme is designed to offer maximum flexibility, attractive interest rates, and a simple application process for all kinds of home buyers. Whether you’re purchasing a new house, constructing on your land, extending an existing property, or transferring an existing home loan — this loan covers it all.

Let’s explore how this BOM Maha Super Flexi Housing Loan Scheme works, what benefits it offers, and how NoBroker can help you apply without stepping out of your home.

Quick Overview of the BOM Maha Super Flexi Housing Loan Scheme

What is the BOM Maha Super Flexi Housing Loan Scheme?

The BOM Maha Super Flexi Housing Loan Scheme is a home loan solution designed for all housing needs — from buying a flat to building a house to extending an existing home. It even allows you to transfer your current housing loan from another bank and enjoy better terms with BoM.

The BOM Maha Super Flexi Housing Loan Scheme is one home loan solution that caters to all housing requirements — from purchasing a flat to constructing a house to expanding an existing house. It even enables you to refinance your current housing loan from another bank and benefit from superior terms at BoM.

Here’s how you can utilize this loan:

• Purchase a new or resale residential property (flat, bungalow, etc.)
• Build a house on self-owned land.
• Renovate or expand your current home.
• Transfer an existing home loan from another financial institution.

This BOM Maha Super Flexi Housing Loan Scheme makes it a one-size-fits-all home financing solution for salaried professionals, self-employed individuals, and NRIs alike.

Who Can Apply?

Anyone from the following categories is eligible for the BOM Maha Super Flexi Housing Loan Scheme:

• Resident Indian Citizens
• Non-Resident Indians (NRIs)
• Persons of Indian Origin (PIOs)
• Overseas Citizens of India (OCIs)

Eligibility will depend on factors like income, age, repayment ability, and property value.

Maximum Loan Amount and LTV Ratios

The last loan amount funded against the BOM Maha Super Flexi Housing Loan Scheme depends on the following three things: 

• Your income and repayment capacity
• Maximum permissible Loan-to-Value ratio
• The amount you request

Here’s how the LTV ratios are structured:

So, if you are purchasing a house for ₹50 lakh, you could be eligible for a loan of ₹40 lakh, subject to what your salary is.

Moratorium and Repayment Tenure

Moratorium Period:

• You can avail a maximum moratorium of 48 months.
• Interest can be capitalized for up to 18 months; post this, it must be paid regularly.

Repayment Period:

• Maximum of 30 years, or until you reach the age of 75 years.

This long repayment duration makes the EMIs manageable, especially for younger applicants or those with other financial commitments.

Income Deduction Norms

To avoid financial strain, the loan amount is assessed based on:

• Salaried Individuals – 80% of the latest monthly income
• Self-employed – 80% of the average annual income

This ensures you don’t borrow more than what you can comfortably repay.

Interest Rate and Charges

Interest Rate:

The BOM Maha Super Flexi Housing Loan Scheme offers competitive interest rates, which are linked to your credit score and other parameters. For the latest rates, you can check BoM’s official website or consult NoBroker’s home loan advisors. Here you can check BOM Interest rates,

Processing Fee:

• 0.25% of the loan amount (subject to a maximum of ₹25,000)
• Waived off for public sector and government employees (for takeover loans)

This is one of the few schemes which BOM Maha Super Flexi Housing Loan Scheme offering such a benefit to salaried government workers.

Security Required

The BOM Maha Super Flexi Housing Loan Scheme must be secured through:

• Equitable or registered mortgage of the property being purchased, constructed, or extended

All property documents must be verified and legally clear.

Green Energy Support – Solar System Coverage

One of the features of the BOM Maha Super Flexi Housing Loan Scheme is that it allows for the following inclusion:

• The cost of a rooftop solar photovoltaic or solar plant in the project cost

This promotes green housing and can lead to a meaningful decrease in electricity bills for many years. The cost finally considered will be calculated based on quotes from approved solar suppliers.

Advantages of Selecting BOM Maha Super Flexi Housing Loan Scheme

• Flexible repayment of a maximum of 30 years
• Higher LTV (up to 90%)
• Eligible for construction, purchase, expansion, or takeover
• Government servants have a complete waiver on processing charges (takeovers only)
• Green housing facility with solar system option
• Online and offline application options are available

Apply for the BOM Maha Super Flexi Housing Loan Scheme  through NoBroker

NoBroker simplifies applying for the BOM Maha Super Flexi Housing Loan Scheme more than ever. Here’s how:

• Check Eligibility Instantly: Utilize NoBroker’s loan eligibility calculator.
• Compare Rates: View BoM rates compared to other lenders.
• Upload Documents: Paperless document upload process.
• Get Loan Assistance: Speak with loan experts for assistance with approval.
• Track Status: Utilize NoBroker’s dashboard to view updates.

NoBroker provides 100% support for all your home loan needs – and charges no brokering fees.

Conclusion

The BOM Maha Super Flexi Housing Loan Scheme is a strong option for a versatile, economical, and borrower-friendly home loan. Its wide eligibility, high loan-to-value ratio, solar inclusion option, and long repayment tenure make it ideal for today’s homebuyers.

Whether you are purchasing, constructing, renovating, or changing your home loan provider, the BOM Maha Super Flexi Housing Loan Scheme is for you. Apply now on NoBroker to get professional assistance and quicker approvals.