Karnataka Bank Home Loan
Karnataka Bank home loans offer respite amidst the city’s rising residential demands and soaring property rates. Home buyers can buy a new house, construct on vacant land or renovate their existing homes using the bank’s home loan amounts. Karnataka Bank housing loans come in 3 different categories. Karnataka Bank home loans provide ready financial assistance to borrowers in their homeownership journey. Karnataka Bank is a trusted name with almost 100 years of experience in banking services. Their home loan products ensure affordable property financing for home seekers and investors. Karnataka Bank helps purchase, construct and renovate a home. The bank also helps refinance an existing loan.
Unlock Best Home Loan Offers From Karnataka Bank
karnataka bank Home Loan
Interest Rate
8.5% - 10.62%
Loan Amount
₹20L - ₹5Cr
EMI Per Lakh
₹2,052 - ₹2,155
Processing Fees
Pre-Payment Charges
--Features & Benefits of Karnataka Bank Home Loan
Wide Usage
The loan amount can be used for purchase, construction and refinance purposes. The bank’s loans also provide borrowers to avail loans for renovating their existing homes.
Secured Loans
A borrower is required to submit a security as a guarantee in order to gain a home loan from the bank. The mortgage of the concerned property/ land serves as that security.
Affordable Interest Rates
Karnataka Bank’s housing loans are available at competitive rates. Depending upon the scheme, the bank’s home loan interest rate can range from 8.75% – 11.02%.
Up to 5 crores
Home loans from Karnataka Bank can provide monetary assistance of up to 5 crores. The loan amounts and LTV ratios differ according to different schemes and for different borrowers.
Comfortable Repayments
Karnataka Bank housing loans can be repaid in a maximum of 30 years in Equated Monthly Instalments (EMIs). The loan depends on multiple factors like the requested amount, the applicant’s financial standing and repayment capacity.
Appreciating Asset
Properties are lucrative investments that help in achieving wealth generation. Newly constructed houses can be rented out to earn additional income or be sold at higher rates in future to make sizable profits.
Easy Application
The bank accepts offline and online home loan applications. Borrowers looking for quick approvals can especially take advantage of online applications, as they offer digital KYC and faster loan disbursements.
Types of Karnataka Bank Home Loans
Karnataka Bank housing loans are available in three categories. Let us take a look at their distinct features.
KBL – Xpress Home Loans
This Karnataka Bank Home Loan offers finances for the purchase or construction of a new house or remodelling of an existing one. It is also called ‘KBL Apna Ghar Loan’.
Take a look at the highlighting features of this home loan.
- Maximum Loan Tenure: 30 years for purchase/ construction loan. 7 years for renovation loan
- Maximum Loan Amount: Up to ₹5 crores for purchase/construction loan. Up to ₹30 lakhs for renovation loan
- Security: Mortgage of the concerned property with the bank. Spouse/ Third party guarantee
- Eligible Amounts: 60 times the net monthly salary of a salaried applicant. 5 times the annual earnings of self-employed/ agriculturists
- Repayment Mode: EMIs for general applicants/ Yearly repayments for agriculturists
- Margin: 10-25% on new constructions/ 30% for houses older than 10 years.
KBL- Xpress Home Comfort
This Karnataka Bank housing loan is sanctioned for furnishing and fixture purposes. They offer a comfortable application process through digital processing and instant principal sanction facilities to an applicant.
Here are the loan’s highlights:
- Eligible Candidates: Borrowers who have already availed a Karnataka Bank Home Loan
- Maximum Loan Tenure: 10 years
- Maximum Loan Amount: 1 crore
- Security: Hypothecation of assets purchased from loan amounts. An existing mortgaged property with the bank. Spouse/ Third party guarantee
- Eligible Amounts: Up to 75% of the cost of purchases to be made for renovation purposes
- Repayment Mode: Equated Monthly Instalments (EMIs)
- Margin: Up to 25%
KBL- Xpress Ghar Nivesh
‘Ghar Nivesh’ Karnataka Bank housing loans are available for the purpose of purchasing a vacant site meant for new construction. Take a look at the loan’s features.
- Maximum Loan Tenure: 7 years
- Eligible Amounts: Up to 80% of the property’s value for properties valued not more than ₹75 lakhs.
- Security: Mortgage of the house site with the bank. Spouse/ Third party guarantee
- Loan Repayment: EMIs for general applicants/ Yearly repayments for agriculturists
- Margin: Up to 20%
Documents required for Karnataka Bank Home Loan
Customers with accounts in Karnataka Bank as well as other banks can apply for Karnataka Bank housing loans. The applicants will be required to produce the following documents at the time of application:
- PAN Card
- KYC Documents (Aadhar Card/ Voter’s ID/ Utility Bills/ Others)
- Last 6 months’ salary account statements (for salaried applicants)
- Last 12 months’ operative bank account statements (for self-employed applicants)
- Colour passport-size photographs
How Does the EMI Calculation Work for Karnataka Bank Home Loans?
Karnataka Bank housing loans can be repaid through Equated Monthly Instalments (EMIs). EMIs divide the loan repayment into periodic monthly payments and make loan settlement easier for a borrower.
The bank calculates EMIs on a home loan using the following formula:
P x R x (1+R)^N / [(1+R)^N – 1]
Where,
- P is the principal loan amount,
- N is the tenure in months and,
- R is the prevailing rate of interest.
For a hassle-free EMI calculation, you can also use the Karnataka Bank Home Loan EMI Calculator available online on Urban Money website.
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Karnataka Bank Home Loan Quick Links
Bank Wise Home Loan EMI Calculator
- Lic Housing Finance Home Loan Calculator
- Punjab Sind Bank Home Loan Calculator
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- Hdfc Bank Home Loan Calculator
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Home Loan By Banks
- Bank of Baroda Home Loan
- Axis Bank Home Loan
- HDFC Bank Home Loan
- ICICI Bank Home Loan
- Bajaj Finserv Home Loan
- IndiaBulls Home Loan
- Canara Bank Home Loan
- Union Bank of India Home Loan
- DHFL Home Loan
- CITI Bank Home Loan
- YES Bank Home Loan
- Federal Bank Home Loan
- IndusInd Bank Home Loan
- State Bank of India Home Loan
- Hero FinCorp Home Loan
- Punjab National Bank Home Loan
- IDFC FIRST Bank Home Loan
- IDBI Bank Home Loan
- Kotak Bank Home Loan
- Ujjivan Small Finance Bank Home Loan
- Muthoot Finance Ltd Home Loan
- Godrej Housing Finance Home Loan
- Tata Capital Housing Finance Limited Home Loan
- Vastu Housing Finance Home Loan
- HDFC Sales Home Loan
- Indian bank Home Loan
- Capital First Ltd. Home Loan
- Home First Finance Company Home Loan
- Poonawalla Fincorp Limited Home Loan
- Hero Housing Finance Home Loan
- Clix Capital Home Loan
- Aditya Birla Finance Limited Home Loan
- Housing Development Finance Corporation Home Loan
- L&T Finance Home Loan
- HSBC Home Loan
- LIC Housing Finance Home Loan
- Reliance Capital Home Loan
- Bank of India Home Loan
- Fullerton India Home Loan
- IIFL Finance Home Loan
- Piramal Housing Finance Home Loan
- Edelweiss Financial Services Home Loan
- Aadhar housing Finance Home Loan
- DCB Bank Home Loan
- Punjab National Bank Housing Finance Home Loan
- Capri Global Home Loan
- Punjab & Sind Bank Home Loan
- Bank of Maharashtra Home Loan
- RBL Bank Home Loan
- Cholamandalam Finance Home Loan
- Deutsche Bank Home Loan
Karnataka Bank Quick Links
Bank Wise Home Loan Eligibility Calculator
- SBI Home Loan Eligibility Calculator
- HDFC Home Loan Eligibility Calculator
- Axis Bank Home Loan Eligibility Calculator
- ICICI Home Loan Eligibility Calculator
- LIC Home Loan Eligibility Calculator
- PNB Home Loan Eligibility Calculator
- Canara Bank Home Loan Eligibility Calculator
- Bank of Baroda Home Loan Eligibility Calculator
- Bank of India Home Loan Eligibility Calculator
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