Karur Vysya Bank Home Loan | Interest Rates | Features | Information

Karur Vysya Happy Home Loans: Get Details on Interest Rates, Documents, EMI, Processing Charges, Margin & features of Housing loans of Karur Vysya Bank.

KVB to cater the needs of Non resident Indians (NRI) and Persons of Indian Origin (PIO) has designed a specific Product in the name of KVB- NRI – Gruhapravesh. The loan shall be availed for Purchase of Ready built house in India, construction of New house in India , Home Improvements /Extension , Land purchase and subsequent construction there on within 6 months & For Take Over of Loans from other banks

Features of Karur Vysya Bank Home Loans:

  • All  Resident Individuals and HUF (opening through Kartas) .
  • NRI ‘s can also avail the loan under KVB – Gruhapravesh.
  • Purposes:
    • For construction of Independent Houses
    • For outright purchase of Independent Houses, Flats (not older than 15 years)
    • For purchase of plots and construction there on.
    • For Take over of Loans from another Bank / FI’s
    • For Improvement/ Repairs/ Additional construction/Renovation of existing houses or flats owned by you.
    • For purchase of Plots or Flats developed by Government Authorities.

    Click here to know Interest Rates of Home Loans – Karur Vysya Bank

Maximum Loan Amount Rs.500.00 Lakhs
Margin 25.00%- For New Houses/Flat
30.00%- For Old Houses/Flat (Repayment up to 15 Years)
35.00%- For Old Houses/Flat (Repayment above 15 Years)
(* Relaxation available based on merits)
Maximum Repayment Tenor 25 Years (Including Holiday Period) – EMI
Maximum Holiday Period 12 Months
Primary Security Equitable Mortgage of Land & building
Collateral Security Optional (NSC/KVP/LIC Policies, Bank Deposits, Land & Building etc.,)
Guarantee A suitable Guarantor with sufficient net worth , acceptable to the Bank (preferably spouse or family members or friends)
Insurance Coverage for the Borrower Available to the extent of Loan amount with LIC, SBI Life and BSLI as SINGLE PREMIUM payable by the Borrower.
(Available if the borrower is interested)
Processing charges Rs.7500.00+ST  for Loans up to Rs.25.00 Lakhs
Rs.15000.00 +ST For loans between Rs.25.00- Rs.50.00 Lakhs
Rs.25000.00+ST for loans above Rs.50.00 Lakhs
Other Terms & conditions
  • In case of Salaried Persons:  Salary certificate for the last 6 Months to be submitted along with certificate from the Employer.
  • In case of Self Employed: Latest ITR/Income Statement to be submitted.
  • The Net take Home pay after deducting the proposed HL installment should not exceed 40% of the gross Pay.
  • For the purpose of Maximum loan eligibility Income of the SPOUSE may be added.
  • Agriculturist may also avail the loan with proper proof of income (IT Return)
  • Loan may be granted to purchase vacant land provided they should begin construction within 6 months from the date of availing the loan.
  • No prepayment charges will be levied.

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