20 Lakh Karnataka Bank Home Loan

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Karnataka Bank, established in 1924 and based in Mangaluru, India, is a leading private bank known for its friendly service and many branches across India. They offer various financial products, including home loans designed to suit different needs. A ₹20 lakh home loan from Karnataka Bank has a low interest rate starting at 8.60% per year. You can repay the loan over a period of up to 30 years. They charge minimal fees for processing the loan and don't charge extra if you make pre-part payments for your loan.

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Table of Content

1. 20 Lakh Home Loan Karnataka Bank Highlights

2. 20 Lakh Home Loan EMI For 5 Years Karnataka Bank

3. 20 Lakh Home Loan EMI For 10 Years Karnataka Bank

4. 20 Lakh Home Loan EMI For 15 Years Karnataka Bank

5. 20 Lakh Home Loan EMI For 20 Years Karnataka Bank

6. 20 Lakh Home Loan EMI For 25 Years Karnataka Bank

7. 20 Lakh Karnataka Bank Home Loan Fees And Charges

8. 20 Lakh Karnataka Bank Home Loan Documents Required

9. 20 Lakh Karnataka Bank Home Loan Eligibility Criteria

Written By

Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

Reviewed By

Amit Prakash Singh

Co-Founder, Square Yards & Chief Business Officer, Urban Money

Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

20 Lakh Home Loan Karnataka Bank – Highlights

Here are the highlights of a ₹20 lakh home loan from Karnataka Bank:

Prepayment Charges	₹0
Loan Amount	₹20,00,000
Interest Rate	8.60% p.a.
Tenure	Up to 30 years
Processing Fee	Low

20 Lakh Home Loan EMI For 5 Years Karnataka Bank

Monthly Repayment Schedule for a ₹20 Lakh, 5-Year Home Loan from Karnataka Bank at 8.60%:

Section	Details
Total Amount Paid	₹20,00,000
Monthly EMI	₹40,845
Number of EMIs	60
Total Amount of Interest	₹3,50,671
Interest Rate	8.60%

20 Lakh Home Loan EMI For 10 Years Karnataka Bank

Ten-Year Cost Analysis of a ₹20 Lakh Home Loan from Karnataka Bank at 8.60% Interest:

Section	Details
Total Amount Paid	₹20,00,000
Monthly EMI	₹25,950
Number of EMIs	120
Total Amount of Interest	₹10,54,035
Interest Rate	8.60%

20 Lakh Home Loan EMI For 15 Years Karnataka Bank

Monthly Outflow for a ₹20 Lakh, 15-Year Home Loan with Karnataka Bank:

Section	Details
Total Amount Paid	₹20,00,000
Monthly EMI	₹20,314
Number of EMIs	180
Total Amount of Interest	₹16,56,509
Interest Rate	8.60%

20 Lakh Home Loan EMI For 20 Years Karnataka Bank

Financial overview of ₹20 Lakh Home Loan by Karnataka Bank at 8.60% Interest Rate:

Section	Details
Total Amount Paid	₹20,00,000
Monthly EMI	₹17,398
Number of EMIs	240
Total Amount of Interest	₹27,35,520
Interest Rate	8.60%

20 Lakh Home Loan EMI For 25 Years Karnataka Bank

Know the timeline of ₹20 Lakh Home Loan from Karnataka Bank for a 25-year tenure.

Section	Details
Total Amount Paid	₹20,00,000
Monthly EMI	₹15,372
Number of EMIs	300 (25 years)
Total Amount of Interest	₹41,32,785
Interest Rate	8.60%

20 Lakh Karnataka Bank Home Loan – Fees And Charges

For a ₹20 lakh home loan with Karnataka Bank, expect to incur processing fees ranging from 0.50% to 2.00% of the loan amount. There are no charges for pre-closure or part-payment.

20 Lakh Karnataka Bank Home Loan – Documents Required

To apply for a ₹20 lakh home loan at Karnataka Bank, you’ll need to provide:

KYC documents (PAN card, Aadhaar card, Passport)
Income proof (salary slips, income tax returns)
Property documents (details of the property being financed)
Bank statements

20 Lakh Karnataka Bank Home Loan – Eligibility Criteria

Here are the eligibility criteria for a 20 lakh home loan by Karnataka Bank:

Indian residency required
Minimum age of 18 years
Salaried individuals need a monthly salary of ₹10,000
Self-employed individuals require an annual income of ₹1,20,000

Frequently Asked Questions (FAQs)

What is the EMI for 20 lakh Home Loan for 20 years in Karnataka Bank?

The EMI for a ₹20 lakh home loan for 20 years at Karnataka Bank, with an 8.60% interest rate, is approximately ₹17,499.

Who is eligible for a 20 lakh Home loan in Karnataka Bank?

To qualify for a Karnataka Bank home loan, you'll need to be a resident of India with a steady income, either through salary or self-employment. Additionally, you must meet the bank's specific income and credit score requirements.

What is the monthly interest rate of a 20 lakh home loan in Karnataka Bank?

For a ₹20 lakh home loan at Karnataka Bank with an annual interest rate of 8.6%, the estimated monthly interest rate is 0.718%.

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