Karur Vysya Bank Home Loan
Karur Vysya Bank Home Loans starting at just 9.00% p.a.
Karur Vysya Bank offers a seamless home loan experience designed to meet the diverse needs of borrowers. With specialized Read More...
Karur Vysya Bank Home Loan Highlights
| Loan Amount | Upto ₹7.5 cr |
|---|---|
| Tenure | Upto 30 years |
| Rate of Interest | 9% onward |
| Processing Fee | Upto % of the loan amount |
| Max Tenure | 30 years |
| Foreclosure Charges | Nil |
Karur Vysya Bank Home Loans Comparison Table
Compare Karur Vysya Bank Home loan interest rates with other lenders to find the best deal. See how Karur Vysya Bank competitive rates stack up in our comprehensive comparison table.
| Name of Lender | Amount Up to | Interest Rate | Tenure |
|---|---|---|---|
| Axis Bank | ₹10 cr | 8.75% Onwards | Up to 20 years |
Karur Vysya Bank Home Loan EMI calculator
Enter the loan amount, interest rate, and loan tenure into the Karur Vysya Bank home loan EMI calculator below to determine your monthly EMI and the total interest due over the loan period.
EMI: ₹63,337.89
Total interest: ₹26,00,546.8
Total principal: ₹50,00,000
Karur Vysya Home Loans Eligibility
Check Your Eligibility for Karur Vysya Home Loan
KVB Happy Home Loans
KVB Gruhapravesh for NRI
KVB Home Loan Balance Transfer
Karur Vysya Bank Happy Home Loan
Karur Vysya Bank offers an exclusive home loan scheme called the Happy Home Loan designed specifically for resident Indians and Hindu Undivided Families (HUFs) looking to purchase a house. This innovative loan product streamlines the application process, making it entirely paperless and efficient.
Key Features:
- Instant In-Principle Approval: Subject to the satisfaction of CIBIL and rating scores, applicants can receive an in-principle approval within just 15 minutes.
- Flexible Purposes: The Happy Home Loan can be availed for a variety of purposes, including:
- Construction of independent houses
Karur Vysya Bank Home Loan Processing Fees and Charges
Karur Vysya Bank Home Loan Processing Fees
Karur Vysya Bank Home Loan Prepayment charges
- Loans up to Rs. 25 Lakhs - Rs. 2,500/- + GST
- Loans between Rs. 25 Lakhs & Rs. 50 Lakhs - Rs. 5000/- + GST
- Loans above Rs. 50 Lakhs - Rs. 7,500/- + GST
How to Apply for Karur Vysya Bank Home Loan?
Prospective borrowers interested in a Karur Vysya Bank home loan have the option to apply online either through the bank's official website, as outlined below:
Download PDFVia the Karur Vysya Bank Official Website:
- Visit the Karur Vysya Bank Home Loan official website.
- Click on "Apply Online".
- Enter the necessary details to determine the eligible loan amount.
- Click "Apply Now" to submit your application.
Documents Required for Karur Vysya Bank Home Loan
Following is the list of documents required for different categories of customers
Karur Vysya Bank Home Loan list of documents for Salaried
Karur Vysya Bank Home Loan list of documents for Self-employed professionals
Karur Vysya Bank Home Loan list of documents for Self-employed
Karur Vysya Bank Home Loan list of documents for Farmers
Karur Vysya Bank Home Loan list of documents for NRIs
Karur Vysya Bank Home Loan list of documents for Salaried
- Identity and residence proof (KYC), such as an Aadhaar, PAN card, or Voter ID card.
- Income proof, such as the last 3 months salary slip, the latest Form 16, and a six-month bank statement.
- A Cheque for The Processing Fee for The Loan Application.
- Property Documents Such as Sale Deed, NOC From the Builder or Housing Society, Advance Payment Receipt to The Builder, And Approved Construction Plan.
Property Related Documents
For New Home- Allotment letter copy/Buyer agreement
- Payment receipt made to the developer
- Title deeds including previous chain of property documents
- Agreement to sell copy
- Initial payment receipt made to the seller
- Title deed of plot
- Copy of the plan approved by Local Authorities
- No encumbrance proof on the property
- The total estimate of construction by a Civil Engineer/Architect
Karur Vysya Bank Home Loan FAQ’S
Here are some of the frequently asked questions with regards to Karur Vysya Bank Home Loan
What is the current interest rate for Karur Vysya Bank home loans?
Karur Vysya Bank offers home loans starting from 9% p.a., varying based on the applicant's credit profile.
How do I calculate the interest cost for my Karur Vysya Bank home loan?
You can determine the interest cost using the Karur Vysya Bank Home Loan EMI Calculator. Simply input your loan amount, tenure, and interest rate into the calculator to obtain instant results.
What factors contribute to the fluctuation of Karur Vysya Bank home loan interest rates?
Karur Vysya Bank adjusts its housing loan rates in accordance with the repo rate. Changes in the repo rate prompt adjustments in the rates for existing Karur Vysya Bank home loan borrowers. Additionally, Karur Vysya Bank may modify the spread over benchmark rates during special or festive home loan offers.
Who is eligible to be a co-applicant for an Karur Vysya Bank Housing Loan?
Co-owners of the property must also be co-applicants for the Karur Vysya Bank Housing Loan. However, not all co-applicants need to be co-owners; close family members are typically permitted as co-applicants.
Can I make early payments toward my outstanding home loan amount?
Yes, partial or full prepayment of your home loan amount is allowed before the loan tenure ends. Karur Vysya Bank does not impose prepayment charges on home loans with floating interest rates.
How can I lower my Karur Vysya Bank Home Loan interest rate?
You can reduce your Karur Vysya Bank Housing Loan interest rate by transitioning from a higher interest rate to a lower one. Karur Vysya Bank charges a conversion fee for rate reductions, or alternatively, you can transfer your home loan to another lender offering lower rates.
What are the pre-closure charges for Karur Vysya Bank home loans?
Kotak Mahindra Bank does not levy prepayment fees on home loans with floating interest rates. For fixed-rate home loans, prepayment incurs a fee on the outstanding loan amount plus applicable taxes, except when using own sources for pre-closure.
What is the disbursement process for Karur Vysya Bank Home Loans?
After property and document verification and completion of the 'own contribution' or down payment, Karur Vysya Bank sanctions the home loan. Disbursement can be requested online or offline and is contingent on construction progress.
Is my spouse's income considered in calculating the home loan amount?
Yes, your spouse's income can bolster your home loan eligibility. Your spouse must provide income documents to Karur Vysya Bank for consideration.
What is the minimum credit score required for Karur Vysya Bank Home Loan applicants?
While Karur Vysya Bank doesn't specify a minimum credit score, it offers lower rates to applicants with scores of 750 and above.
Can I secure home loan approval while still deciding on a property?
Yes, you can apply for pre-approved home loan facilities based on your financial status, creditworthiness, and income. Property selection must occur within 6 months of loan sanction.
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