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.
- 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||
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