KBL Xpress Home Loan

KBL Xpress home loan is a remarkable credit option from Karnataka Bank. Whether you need funds to buy, build, or renovate your home, the bank has the option and resources to disburse the necessary cash on time. The loan is further recognised for its digital-first approach. This ultimately ensures a hassle-free application process and quick loan approval. Moreover, the scheme is available to salaried and self-employed individuals, catering to many customers.

Urban Money presents complete KBL Xpress home loan details to help you get closer to owning a home. We primarily cover information such as KBL Xpress home loan interest rates, eligibility criteria, required documents, associated fees, and expected EMIs. Let’s get started!

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Table of Content

1. KBL Xpress Home Loan Highlights

2. KBL Xpress Home Loan Features and Benefits

3. KBL Xpress Home Loan Interest Rates

4. KBL Xpress Home Loan Fees and Charges

5. KBL Xpress Home Loan Eligibility Criteria

6. KBL Xpress Home Loan Documents Required

7. KBL Xpress Home Loan EMI Calculator

Written By

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

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.

KBL Xpress Home Loan – Highlights

Here are the following highlights of a KBL Xpress Home Loan:

Interest Rates	8.60% p.a. onwards
Loan Amount	Up to ₹750 lakh
Loan to Value (LTV) Ratio	75 – 90% of the property value
Loan Tenure	30 years

KBL Xpress Home Loan – Features and Benefits

Here are the Karnataka Bank home loan details regarding the features and benefits:

Loan Amount: Loans are available up to a maximum of ₹750 lakh, offering substantial financial support for home buyers to buy, build, or renovate their dream homes.
Loan Tenure: Home loans are available with flexible repayment tenures ranging from 1 year to 30 years.
Interest Rates: The interest rates for KBL Xpress home loans start at 8.60% and go up to 10.62% p.a.
Down Payment: The down payment for new construction is between 10% and 25%, and for a house or flat older than 10 years, it’s 30% of the property price.
Digital Process: The loan sanctioning process is completely digital, offering quick approvals and in-principle sanctions through an online procedure.

KBL Xpress Home Loan Interest Rates

Let’s examine the applicable KBL Xpress home loan interest rate:

Minimum Rate of Interest	8.60% p.a.
Maximum Rate of Interest	10.62% p.a.
Mean Rate of Interest	9.61% p.a.

KBL Xpress Home Loan Fees and Charges

Here are the applicable fees and charges for a KBL Xpress home loan:

Fee/Charge	Amount
Processing Fee	0.5% – 2% of the loan amount
Prepayment Charges	2% of the repayment amount
Late Payment penalty	Applicable
Legal/Valuation Charges	As actual
Stamp Duty	As per the state law

KBL Xpress Home Loan – Eligibility Criteria

Let’s examine the KBL Xpress home loan eligibility criteria:

Age Limit	18 – 60 years old
Employment Types	Applicable to both salaried and self-employed individuals
Income Criteria	₹10,000 per month (for salaried person); ₹1,20,000 per annum (for self-employed person)
Credit Score	700 or above
Residential Status	Both Indian residents and non-residents of India (NRI)

KBL Xpress Home Loan – Documents Required

The Karnataka Bank home loan details require certain documents, such as –

Identity Proof	Aadhar card, PAN card, driver’s license, election ID, passport, etc.
Address Proof	Electricity bill, telephone bill, ration card, rental agreement, etc.
Income Proof	1-year bank account statement, salary slip, or business proof.

KBL Xpress Home Loan EMI Calculator

Here is the step-by-step procedure to estimate the EMI for a KBL Xpress Home Loan:

Go to the Urban Money website.
Click the ‘Loan‘ tab at the home screen’s horizontal menu bar.
Choose the ‘Home Loan’ option and click ‘Home Loan Calculator.’
You will be taken to a new page that features the EMI Calculator.
Enter the principal loan amount, tenure, and interest rate.
The calculator will immediately show the monthly EMI you need to pay.