Karur Vysya Bank Home Loan


Karur Vysya Bank (KVB) provides home loans starting at an interest rate of 8.95% per annum. You can borrow up to 90% of your property's value for a maximum tenure of 25 years. Additionally, if you already have a home loan from another bank or housing finance company (HFC), you can switch it to KVB for lower interest rates through their Home Loan Balance Transfer Facility.

Karur Vysya Bank Home Loan Highlights 
Interest Rate 8.95% – 11.00% p.a.
Loan Amount Based on the applicant's ability to repay and the current market value of the property.
Loan Tenure Up to 25 years (including holiday period)
Processing Fees Rs. 2,500 to Rs. 7,500 + GST

Pre Approved Home loan | Check Eligibility & Apply Online

Table of Contents
Compare Interest Rates offered by other Lenders
Interest Rates
Types of Home Loan offered by KVB
Processing Fees & Charges
Eligibility Criteria
Documents Required
EMI Calculator
FAQs

Compare Home Loan Interest Rate Offered by Various Top Banks & HFCs

Name of Lender Up to Rs. 30 Lakh Above Rs. 30 Lakh to Rs. 75 Lakh Above Rs. 75 Lakh  
SBI Bank 8.40% - 10.15% p.a. 8.40% - 10.05% p.a. 8.40% - 10.05% p.a. Apply Now
HDFC Bank Limited 8.40% p.a. onwards 8.40% p.a. onwards 8.40% p.a. onwards Apply Now
Kotak Mahindra Bank 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Apply Now
ICICI Bank 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards Apply Now
Federal Bank 8.80% p.a. onwards 8.80% p.a. onwards 8.80% p.a. onwards Apply Now
L&T Finance Limited 8.60% p.a. onwards 8.60% p.a. onwards 8.60% p.a. onwards Apply Now
Bajaj Housing Finance 8.50% p.a. onwards 8.50% p.a. onwards 8.50% p.a. onwards Apply Now
LIC Housing Finance 8.35% - 10.35% p.a. 8.35% - 10.55% p.a. 8.35% - 10.75% p.a. Apply Now
PNB Housing Finance 8.50% - 14.50% p.a. 8.50% - 14.50% p.a. 8.50% - 11.45% p.a. Apply Now
Punjab National Bank 8.45% - 10.25% p.a. 8.40% - 10.15% p.a. 8.40% - 10.15% p.a. Apply Now
Bank of Baroda 8.40% - 10.65% p.a. 8.40% - 10.65% p.a. 8.40% - 10.90% p.a. Apply Now
IDFC First Bank 8.75% p.a. onwards 8.75% p.a. onwards 8.75% p.a. onwards Apply Now
Tata Capital Housing Finance 8.70% p.a. onwards 8.70% p.a. onwards 8.70% p.a. onwards Apply Now
Axis Bank 8.70% - 13.30% p.a 8.70% - 13.30% p.a 8.70% - 9.10% p.a. Apply Now
Godrej Housing Finance 8.55% p.a. onwards 8.55% p.a. onwards 8.55% p.a. onwards Apply Now

Also read: Best Home Loan in India

 

Karur Vysya Bank Home Loan Interest Rates

KVB Home Loan Schemes Interest Rates (p.a.)
KVB Happy Home Loan 8.95% – 11.00%
KVB Housing Top Up Loan 9.20% – 10.55%
KVB Gruhapravesh for NRI 8.95% – 11.00%

Types of Karur Vysya Bank Home Loan

Karur Vysya Bank offers different home loan schemes to its customers. Some of them are discussed as follows:

Karur Vysya Happy Home Loan

  • Purpose: Suitable for buying a new or resale house/flat/plot, house construction, renovation, repair, or extension. Also offers home loan balance transfer facility.
  • Loan Tenure: Up to 25 years (including holiday period)
  • Loan Amount: 70% – 90% of property value
  • Maximum Holiday Period:
    • For house construction: 24 months
    • For outright purchase of a flat: 3 months
  • Insurance Coverage: Available (optional) to the extent of the loan amount with SBI Life, LIC, and BSLI as Single Premium payable by the borrower.
  • Borrower Type: All Resident Indians (including Hindu Undivided Families (HUFs)

KVB Gruhapravesh for NRI

  • Purpose: NRIs/PIOs can use this loan to buy a ready-to-move house, build a new house in India, or improve/extend their existing homes. It's also for those who want to buy land for future construction. Existing home loan borrowers can switch to KVB for better rates.
  • Loan Tenure: Up to 25 years (subject to the liquidation of the loan by the age of 70 years)
  • Loan Amount: 70% – 90% of property value
  • Maximum Holiday Period:
    • For house construction: 24 months
    • For an outright purchase of a flat: 3 months
  • Insurance Coverage: Available (if the borrower is interested) to the extent of loan amount with SBI Life, LIC, and BSLI as Single Premium payable by the borrower
  • Borrower Type: Non-Resident Indians (NRIs) and Persons of Indian Origin (PIOs)

Also Read : Best Home Loan EMI Calculator

 

Karur Vysya Home Loan Fees & Other Charges

Particulars Applicable Charges
Processing fees

For loans up to Rs. 25 Lakh: Rs. 2,500

For loans between Rs. 25 Lakh & Rs. 50 Lakh: Rs. 5,000

For loans above Rs. 50 lakh: Rs. 7,500
Part Prepayment Penalties Nil for floating rate housing loans
Foreclosure Charges Nil for floating rate home loans

Also read: Best Home Loan Fees and Charges

Karur Vysya Bank Home Loan Eligibility

Eligibility Criteria for KVB NRI Home Loan:

  • The minimum age of the applicants should be 23 years.
  • NRIs must have a valid Indian Passport, while PIOs must have a valid Foreign Passport.
  • Applicants should have at least 2 years of work experience abroad.
  • Must possess a valid job contract or work permit.
  • Should have a steady source of income.
  • Must have a Net Monthly Income (NMI) of at least US$ 1,500 or Minimum Net Annual Income (NAI) of US$ 18,000 (or its equivalent in any other foreign currency).

Eligibility Criteria for Karur Vysya Bank Home Loan:

  • The take-home pay of the applicant after deducting the proposed loan installments should be at least 25% of the gross pay.
  • The loan may be granted to buy vacant land and construction subject to commencing and completing construction within a 24-month period from the date of availing the loan.

Also Read : Best Home Loan Eligibility

Documents Required for Karur Vysya Bank Home Loan

The documents required to apply for the KVB NRI Gruhapravesh, the documents required are:

  • Duly filled and signed home loan application form with a self-attested photograph
  • Proof of Residence (e.g., Aadhaar Card, Passport, Voter ID Card, or Driving License)
  • Proof of Age (e.g., Aadhaar Card, PAN Card, Passport, Voter ID Card, or Driving License)
  • Proof of Identity (e.g., Aadhaar, PAN Card, or Foreign (for PIOs)/Indian Passport (for NRIs)
  • Proof of Income
  • Proof of Employment & Work Experience
  • Job contract or work permit
  • Two passport size photographs
  • A cheque for the payment of the required processing fees

The documents required to apply for the Karur Vysya Bank Happy Home Loan are:

  • Duly filled and signed home loan application form with a self-attested photograph
  • Proof of Residence (e.g., Aadhaar Card, Passport, Voter ID Card, or Driving License)
  • Proof of Age (e.g., Aadhaar Card, PAN Card, Passport, Voter ID Card, or Driving License)
  • Proof of Identity (e.g., Aadhaar Card, PAN Card, Passport, Voter ID Card, or Driving License)
  • Proof of Income (such as salary slips, current dated salary certificate, bank statement of the last 3 months, or latest ITR/ Form 16)
  • Two passport size photographs
  • A cheque for the payment of the required processing fees

Also Read : Best Home Loan Documents Required

Frequently Asked Questions

Customer's gold ornaments are securely stored in a safe room constructed in compliance with government regulations. These rooms are equipped with electronic surveillance to ensure the protection of the gold.

Shriram Finance provides insurance for the gold kept as collateral by you. This ensures that in the event of theft, the borrower doesn't need to worry about the security of the gold.

The interest rate starts from 11.4% per annum (*p.a.) and you can select a loan tenure ranging from 1 month up to 12 months.

Salaried individuals, self-employed professionals, business owners, and other individuals aged between 18 and 75 years can apply for Shriram Finance Gold Loan.

The minimum age requirement is 18 years, and the maximum age limit is 75 years at the time of loan maturity.