Karnataka Bank Plot Loans

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Under the KBL Xpress Ghar Niveshan Loan scheme, Karnataka Bank provides customers with funds to purchase lands or plots of their choice. Customers can avail a maximum loan amount of up to 1.50 crore with an interest rate starting from 9.30% per annum. The loan is a viable option for purchasing land and constructing a home.

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Table of Content

1. Karnataka Bank Plot Loan Interest Rates

2. Karnataka Bank Plot Loan Fees and Charges

3. Karnataka Bank Plot Loan Eligibility Criteria for Salaried

4. Karnataka Bank Plot Loan Eligibility Criteria for Self-employed

5. Karnataka Bank Plot loan Documents Required for Salaried

6. Karnataka Bank Plot Loan Documents Required for Self-Employed

7. Features of Karnataka Bank Plot Loans

8. Things to Remember while Applying for a Karnataka Bank Plot Loan

Written By

Amrita Sinha

Amrita Sinha comes with a background in journalism and mass communication, drawing from her roots in journalism, she has found her voice in the world of finance. As an accomplished writer, she specialises in Financial Services, Mutual Funds, Loan Assessments, Banking & Loan Products. She has established herself as a reliable expert in the field, offering valuable advice to those looking to navigate the various aspects of personal 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.

Given below are the highlights of the Karnataka Bank Plot Loan

Feature	Description
Loan Purpose	Land Purchases
Loan Amount	Up to ₹1.50 crore
Interest Rates	Starting at 9.30*% p.a.
Repayment Tenure	Up to 120 months
Applicant Eligibility	Minimum income of 10000 per month

Karnataka Bank Plot Loan Interest Rates

Below given are the Karnataka Bank Plot Loan Interest Rate

Rate of Interest

Starting at 9.30% p.a.

Karnataka Bank Plot Loan Fees and Charges

Given below are the fees and charges for the Karnataka Bank plot loan

Fee/Charge	Amount
Processing Fee	0.50% of the loan amount, subject to a minimum of Rs. 250 and a maximum of Rs. 10,000
Documentation Fee	Rs. 250 per lakh of the loan amount, subject to a minimum of Rs. 1,000 and a maximum of Rs. 25,000
Prepayment Penalty	Nil for floating-rate loans, 2% of the outstanding amount for fixed-rate loans
Late Payment Penalty	2% per month on the overdue amount

Karnataka Bank Plot Loan Eligibility Criteria for Salaried

A Salaried person must earn a monthly salary of ₹10,000 to avail the loan from the Karnataka Bank

Karnataka Bank Plot Loan Eligibility Criteria for Self-employed

A Self-employed person must earn an annual income of ₹1,20,000 to qualify for the plot loan from the Karnataka Bank

Karnataka Bank Plot loan Documents Required for Salaried

Below are the details of the documents required for the Karnataka Bank loan application

Aadhaar and PAN cards of the applicant
Income proof – salary slips for the past 3 months
Last 6 months’ bank statement
Sale agreement

Karnataka Bank Plot Loan Documents Required for Self-Employed

Aadhaar and PAN cards of the applicant
Income proof – last 3 years of income tax returns
Last 6 months’ bank statement
Sale agreement

Features of Karnataka Bank Plot Loans

Below listed are the features of Karnataka Bank plot loan

Repayment Period: Benefit from a repayment period of up to 120 months.
Online Processing: Experience efficient online processing with prompt approvals.
Down Payment: Make a down payment of 20% of the estimated cost.
Loan Repayment: Opt for easy Equated Monthly Installments (EMIs) or yearly payments for agriculturists.
Easy Financing: You can obtain financing up to 80% of the site’s registration value, with maximum amounts capped at ₹75 lakh for metro/urban areas and ₹50 lakh for non-urban areas.

Things to Remember while Applying for a Karnataka Bank Plot Loan

Eligibility Check: Prioritise meeting Karnataka Bank’s eligibility requirements for plot loans, assessing factors such as income, credit history, and age to ensure qualification.
Document Preparation: Gather essential documents, including proof of identity, address, income, and property details, to streamline the application process with Karnataka Bank.
Terms and Conditions Review: Familiarise yourself with the terms and conditions associated with Karnataka Bank’s plot loan, including interest rates, repayment tenure, and any additional fees or charges applicable.
Expert Guidance: Seek advice from financial experts or leverage Karnataka Bank’s team of professionals to gain insights into the best loan options available, empowering you to make well-informed decisions regarding your plot loan application.

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