70 Lakh Home Loan Karnataka Bank

A home is a dream of everyone, but the journey to owning a home is not easy. It can severely affect an individual's purchasing power. To avoid constraining your financial liberty, home loans can be a helpful solution. Karnataka Bank offers a home loan of up to 70 lakhs to provide you with the financial support needed to turn your dream into reality. With competitive interest rates and flexible repayment options, Karnataka Bank’s home loan ensures that you can manage your finances efficiently while investing in your dream home. Whether you are buying a new house, constructing a home, or renovating an existing property, this loan provides the necessary funds with minimal hassle. Moreover, the bank's simplified application process and quick disbursal make it easier for you to access the funds when you need them the most. With Karnataka Bank, achieving your homeownership dreams is within reach without compromising your financial stability.

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Table of Content

1. 70 Lakh Home Loan Karnataka Bank Highlights

2. 70 Lakh home loan emi for 5 years Karnataka Bank

3. 70 Lakh home loan emi for 10 years Karnataka Bank

4. 70 Lakh home loan emi for 15 years Karnataka Bank

5. 70 Lakh home loan emi for 20 years Karnataka Bank

6. 70 Lakh home loan emi for 25 years Karnataka Bank

7. 70 Lakh Karnataka Bank home loan Fees and Charges

8. 70 Lakh Karnataka Bank home loan Documents Required

9. 70 Lakh Karnataka Bank home loan Eligibility Criteria

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Thejus KS

A mechanical engineer turned history buff with a sprinkle of financial brilliance. Thejus’s expertise comes with a unique blend of engineering precision, timelines, and the power of numerals. He knows that numbers are the pulse of our globe. Attention to detail and extensive research are the key elements of his writing.

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Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

70 Lakh Home Loan Karnataka Bank – Highlights

Here is the table of highlights of the 70 Lakh Home Loan Karnataka Bank

Feature	Details
Loan Amount	Up to ₹1 Crore
Interest Rate	9.93% to 12% p.a.
Loan Tenure	Up to 30 years

70 Lakh home loan emi for 5 years Karnataka Bank

For those looking to repay their home loan quickly, a 5-year tenure offers a higher EMI but results in lower overall interest paid. Here are the details for a 70 lakh home loan over 5 years.

Tenure	EMI Payable	Total Amount Payable
5 years	₹95,212	₹57,12,720

70 Lakh home loan emi for 10 years Karnataka Bank

For a 70 lakh home loan from Karnataka Bank with an interest rate of 9.93% over 10 years, the EMI details are as follows:

Tenure	EMI Payable	Total Amount Payable
10 years	₹59,731	₹71,67,720

70 Lakh home loan emi for 15 years Karnataka Bank

EMI details of 70 lakh home loan from Karnataka Bank with an interest rate of 9.93% over 15 years are:

Tenure	EMI Payable	Total Amount Payable
15 years	₹48,866	₹88,05,720

70 Lakh home loan emi for 20 years Karnataka Bank

Calculating the EMI for a 70 lakh home loan from Karnataka Bank with an interest rate of 9.93% over 20 years:

Tenure	EMI Payable	Total Amount Payable
20 years	₹42,841	₹1,02,81,840

70 Lakh home loan emi for 25 years Karnataka Bank

For a 70 lakh home loan from Karnataka Bank with an interest rate of 9.93% over 25 years, the EMI details are:

Tenure	EMI Payable	Total Amount Payable
25 years	₹39,648	₹1,18,94,400

70 Lakh Karnataka Bank home loan – Fees and Charges

It is essential to understand the fees and charges associated with the Karnataka Bank 70 Lakh Home Loan for effective financial planning.

Fee/Charge	Details
Processing Fee	● For loan amounts up to ₹1 lakh: ₹2,500 ● For loan amounts over ₹2 lakhs: 2% of the loan amount (min ₹2,500, max ₹8,500)
Part-Prepayment Charges	Nil

70 Lakh Karnataka Bank home loan – Documents Required

When applying for the Karnataka Bank 70 Lakh Home Loan, specific documentation is necessary. The required documents include:

Proof of Identity: Such as Aadhar card, PAN card, or Passport.
Proof of Address: Including utility bills or rent agreements.
Income Proof: Such as salary slips or bank statements.
Property Documents: Including the sale deed and title deed.
Additional Documents: As requested by the bank.

70 Lakh Karnataka Bank home loan – Eligibility Criteria

To qualify for Karnataka Bank’s 70 lakh home loan, borrowers must meet specific eligibility criteria. These include:

Indian Residents: Only individuals residing in India are eligible.
Age Requirement: Applicants must be at least 18 years old.
NRIs: Non-Resident Indians with an Indian passport can apply.
Minimum Salary for Salaried Individuals: A minimum salary of ₹10,000 per month is required.
Minimum Income for Businessmen and Self-Employed Individuals: An annual income of at least ₹120,000 is necessary.

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Frequently Asked Questions

What is the EMI for 70 Lakh Home Loan for 20 years in Karnataka Bank?

The EMI for a 70 lakh home loan from Karnataka Bank with a tenure of 20 years is ₹67,227.19.

Who is eligible for 70 Lakh Home loan in Karnataka Bank?

To qualify for a 70 lakh home loan from Karnataka Bank, applicants must be residents of India, at least 18 years old, and have either a minimum monthly salary of ₹10,000 for salaried individuals or a minimum annual income of ₹120,000 for businessmen and self-employed individuals. NRIs holding an Indian passport are also eligible.

What is the monthly interest rate of 70 Lakh home loan in Karnataka Bank?

The monthly interest rate for a 70 lakh home loan from Karnataka Bank, based on an annual interest rate of 9.93%, is approximately 0.8275%.