60 Lakh Karnataka Bank Home Loan

Calculating your 60 lakh home loan EMI with Karnataka Bank is crucial. This will help determine whether you can handle such a significant financial commitment. Notably, the bank offers a tenure range from 5 to 30 years, which you can choose at your convenience. It is also important to note that the longer the tenure, the higher the total repayment amount will be due to the accumulated interest. Below, Urban Money presents everything you must know about the Karnataka Bank 60 lakh home loan, including applicable interest rates, eligibility, documentation, and associated fees. For more detailed information, continue to scroll down.

Get in Touch for Home Loan Expert Advice
Connect with our Home Loan Advisor Now!
  • Personalized Home Loan solutions
  • Expert guidance
  • Application assistance
  • Credit score discussion
  • Home Loan Interest rate comparison
+91
Choose City

Written By
Hepson Franklin
Hepson Franklin
Hepson Franklin is a seasoned financial expert and accomplished writer specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & loan products. With a wealth of experience in the financial industry, he has established himself as a trusted voice, providing invaluable insights and guidance to both seasoned investors and those new to the world of finance. With a comprehensive understanding of the intricate facets of the financial landscape, he is dedicated to demystifying complex financial concepts for readers of all backgrounds.
Reviewed By
Amit Prakash Singh
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.

60 Lakh Home Loan Karnataka Bank – Highlights

The Karnataka Bank home loan interest rate for 60 lakhs and other key features are as follows:

Interest Rates 8.60% – 10.62% per annum
Loan Amount 75 – 90% of the property price 
Loan Tenure 30 years or up to 60 years of age, whichever comes earlier 
Eligibility You must be either a salaried or self-employed individual 

60 Lakh Home Loan EMI for 5 Years Karnataka Bank 

Below are the rates and amount for a 60 lakh home loan EMI in Karnataka Bank with a tenure of 5 years:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
₹60 Lakh 8.60% p.a. 5 years ₹1,23,389 ₹14,03,340 ₹74,03,340

60 Lakh Home Loan EMI for 10 Years Karnataka Bank

Below mentioned are therates for a 60 lakh home loan EMI for 10 years from the Karnataka Bank:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
₹60 Lakh 8.60% p.a. 10 years ₹74,713 ₹29,65,560 ₹89,65,560

60 Lakh Home Loan EMI for 15 Years Karnataka Bank

The Karnataka Bank home loan 60 lakh EMI rates and amount for a tenure of 15 years is given below:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
₹60 Lakh 8.60% p.a. 15 years ₹59,437 ₹46,98,660 ₹1,06,98,660

60 Lakh Home Loan EMI for 20 Years Karnataka Bank

Below mentioned are the rates for a 60 lakh home loan EMI for 20 years from the Karnataka Bank:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
₹60 Lakh 8.60% p.a. 20 years ₹52,450 ₹65,88,000 ₹1,25,88,000

60 Lakh Home Loan EMI for 25 Years Karnataka Bank 

The rates and amount for a 60 lakh home loan EMI in Karnataka Bank for a tenure of 25 years is given below:

Loan Amount Interest Rate Loan Tenure EMI Amount Total Interest Payable Total amount Payment
₹60 Lakh 8.60% p.a. 25 years ₹48,719 ₹86,15,700 ₹1,46,15,700

60 Lakh Karnataka Bank Home Loan – Fees and Charges 

The fees and charges in addition to the Karnataka Bank home loan interest rate of 60 lahks are given below:

Fee/Charge Amount
Processing Fee 0.50% of the loan amount
Foreclosure Charges  2% of the outstanding balance
Late payment Penalty  Applicable 
Stamp Duty & Other Statutory Charges As per the state law

60 Lakh Karnataka Bank Home Loan – Documents Required

Below are the relevant documents required for the Karnataka Bank 60 lakh home loan:

  • Required Documents: PAN card, customer ID or debit card number. 
  • Identity Documents: Aadhar card, voter ID, driving license, passport, or ration card.
  • Residential Documents: Utility bills, rental agreement, aadhar card, or passport.
  • Income Documents: Last 1-year salary/business account statement.

60 Lakh Karnataka Bank Home Loan – Eligibility Criteria 

Below are the expected 60 lakh home loan eligibility in Karnataka Bank:

  • Age Limit: You should be aged between 18 and 60 years old. 
  • Employment Criteria: You should be either a salaried or self-employed individual. 
  • Income Stability: You should have a sufficient income to cover the loan EMI.
  • Credit Score: You should have a strong credit score and a good repayment history.
  • Nationality: You should be a residential or non-residential Indian.

Frequently Asked Questions (FAQs)

What is the EMI for a 60 lakh home loan for 20 years in Karnataka Bank?

₹52,450 is the expected EMI for a 60 lakh home loan over 20 years at Karnataka Bank, subject to an annual interest rate of 8.60%.

Who is eligible for a 60 lakh home loan in Karnataka Bank?

Both salaried and self-employed individuals are eligible for a 60 lakh home loan at Karnataka Bank.

What is the monthly interest rate of a 60 lakh home loan in Karnataka Bank?

The monthly interest rate for a 60 lakh home loan in Karnataka Bank starts at 0.72%.

Loan Offers By Karnataka Bank's

Urban Money