Kerala Gramin Bank housing loans: get instant quotes on Interest rates, Eligibility, Documents, loan EMI and processing fees & charges.
Purpose for Loan:
- For acquiring house site and constructing house thereon.
- For construction of house on the land already owned by the party.
- Purchase of ready built house.
- For making extension/additions to the existing house.
- For carrying out repairs/ to damaged house.
Interest rates charged by Kerala Gramin Bank on Home Loans:
|T. HOUSING LOANS (Priority & non priority)|
|1||For existing Loans granted upto 31/08/2013|
|eSMGB Schemes (GHL & HLNP),RHLCSS,DPNGHL||Existing ROI to continue|
|eNMGB Schemes (OSL HL, OSLHL NPS)|
|2||For Fresh Housing Loans granted w e f 01/09/2013|
|upto Rs. 500000||11.75%|
|Above Rs. 500000 and upto Rs. 25 lakh||11.50%|
|Above Rs. 25 lakh||11.00%|
* Penal interest will be applied at specified rates for overdue portion.
Eligibility Required for Kerala Gramin Bank Home Loans:
- Individuals who are in gainful employment/profession/business are eligible.
- Age of the applicant should be less than 60 years.
Quantum of Home Loan :
- 75% of estimated cost of construction and cost of site.
- Maximum loan limited to 72 months gross salary/ 6 times the average Annual income.
- Equitable mortgage of plot and house to be constructed.
- One Co-obligants having landed property / sufficient income from salary/other sources.
- Repayable in Equated Monthly Instalment.
- Repayment period up to 20 Years.
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