Karnataka Bank Home Loan Interest Rate

Karnataka Bank offers programs to assist them in purchasing their dream property. They lend money not only for the purchase of a house but also for the purchase of building sites and renovations. Customers can make use of programs such as KBL Apna Ghar, KBL Home Comfort, and KBL Ghar Niveshan.

About the Karnataka Bank Home Loan Schemes

Karnataka Bank is one of India's most reputable privately owned banks. It was founded in 1924. It has expanded its network to over 843 outlets across the country. We all want to own our own house one day. If you are choosing to buy a house soon, look into the Karnataka Bank's bonuses and incentives.

Karnataka Bank Home Loan is available to those with a monthly salary of 25,000 or more. You are eligible to apply for a house loan if you are between the ages of 18 and 70. If your CIBIL score is 650/700 or higher, you can simply apply for a Karnataka Bank Home Loan.

According to their rules, Karnataka Bank Home Loan plans have varying interest rates and bonuses and benefits for customers.

If you are over the age of 18 and have a monthly salary of 25,000 or more, you can easily apply for a home loan. Check out the various loan programs before deciding on one for yourself. It would allow you to develop a sound financial strategy that will allow you to make informed decisions during your repayment period.

Karnataka Bank Home Loan Interest Rate 2022

Here is the table for Karnataka Bank home loan interest rates-

Type of Home Loan Scheme

Karnataka Bank Home Loan Interest

KBL Ghar Niveshan

10.89% to 12.09%

KBL Apna Ghar

7.50% to 8.85%

KBL Home Comfort

9.17% to 9.57%

 

Types of Home Loan Scheme from Karnataka Bank

There are varied schemes provided by the bank for different reasons-

1) KBL Home Comfort Scheme

The Karnataka Bank housing loan interest rate is from 9.17% to 9.57%. This scheme is to buy interior works, lighting systems, furnishing, solar heating, and more. The value of this scheme will be up to Rs. 1 crore, and up to 75% of the property value can be financed by the bank.

2) KBL Apna Ghar Scheme

The Karnataka Bank housing loan interest for this scheme is 7.50% to 8.85% p.a. This scheme is for the construction or to buy a flat or a house. It can also be used for repairs, remodelling, and renovation of an existing home. This scheme is available for agriculturists with the repayment on a yearly base with a yearly interest. The margin is between 10% - 30%.

3) KBL Ghar Niveshan Scheme

This scheme has an interest rate from 10.89% to 12.09% p.a. It can be availed for the purchase of a site or construction. It could be financed on up to 80% of the registration value. It has a repayment period of 5 years.

Who is Eligible for the Karnataka Bank Home Loan

Check their qualifying criteria thoroughly before applying for a Karnataka bank house loan to avoid problems throughout the application process.

Before you apply for a house loan, keep the following information in mind:

  • Home loans are available to both Indian residents and non-resident Indians.
  • Home loans are available to both - salaried and self-employed individuals.
  • To apply for a house loan, you must be at least 18 years old.
  • Retired salaried individuals are ineligible to apply for a Karnataka Bank Home Loan.
  • To apply for a home loan, non-resident Indians must have a valid Indian passport.
  • To apply for the loan, you can have a co-applicant show me your family. If they have good credit, the bank will accept your loan faster.
  • Your monthly wage must be at least 25,000.
  • The monthly minimum gross pay for non-resident Indians must be 40,000 or more.

Documents Required

These are some of the documents that need to be carried along while applying-

  • Aadhaar, Voter ID, Passport or PAN.
  • Salary slip, or ITR.
  • Information about the property.

How to Apply for a Home Loan from Karnataka Bank?

You can easily apply for a home loan from Karnataka Bank through the below-mentioned procedures-

- Offline Method

You will have to visit the nearest branch of the Karnataka Bank and a representative will walk you through the process.

- Online Method

Step 1: You will have to visit Karnataka Bank's official portal.

Step 2: Now, you will have to navigate to the loan page.

Step 3: Choose - apply for a home loan.

Step 4: Now, you will be given a home loan form, for which you need to fill in details and complete KYC.

Step 5: After the submission of that form, the bank will contact you further on your home loan application.

Charges of the Home Loan from Karnataka Bank

  • Processing Fees - 0.50%.
  • CIBIL Charges - Rs. 100
  • Foreclosure Charges - 2%
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