Karnataka Vikas Grameena Bank Home Loan Interest Rate at 8.5% to 9.5%

INTEREST RATE8.5% to 9.5%
LOAN TENURE30 Years
PROCESSING FEE0.50% of sanction amount subject to minimum Rs 50
GUARANTOR REQUIREDYes
PRE CLOSURE CHARGESAs per bank's discretion
Note: Updated on Feb 2024, for latest interest rates, please visit bank website.

Calculate Karnataka Vikas Grameena Bank Home Loan EMI Calculate EMI Now

About Karnataka Vikas Grameena Bank

Karnataka Vikas Grameena Bank is a gramin bank in india established on 09-12-2005. It has headquarter in Dharwad and address is P.B.No. 111, Belgaum Road, Dharwad - 580 008, Karnataka. it has 654 branches across the state.

It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, loans, personal loans, netbanking, RTGS, NEFT, IMPS, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Karnataka Vikas Grameena Bank Home Loan Interest Rates, Housing Loan at and 8.5% to 9.5% Updated on February 2024. Apply for Home Loan Online. Find Karnataka Vikas Grameena Bank Home loan purpos, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.

Why Karnataka Vikas Grameena Bank Home Loan?

  1. Karnataka Vikas Grameena Bank provides a range of Home Loan Schemes designed for different needs of customers
  2. Interest Rate is very competitive and affordable
  3. Minimal Documentation
  4. It provides Flexible Repayment Options to the borrowers
  5. Easy and fast approval & disbursal of home loans
  6. Has dedicated team of well-experienced employees which also offer personalised service
  7. 24/7 customer care service of Karnataka Vikas Grameena Bank offers timely assistance to the customers

Karnataka Vikas Grameena Bank Home Loan Purpose

Purchase of Plot & construction thereon or purchase of ready built house, construction, renovation, extension of existing house

Karnataka Vikas Grameena Bank Home Loan Eligibility

  • The applicant must be an Indian citizen or a fully documented NRI. He, essentially, must be a Person of Indian Origin (PIO).
  • The applicant's age must be in the range of 18 years and 70 years at the time of loan maturity.
  • The applicant must be salaried or self-employed with a regular income.
  • The applicant must earn more than the minimum required income.

Karnataka Vikas Grameena Bank Home Loan Document Required

  1. Duly filled and signed application form with photograph
  2. Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
  3. Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
  4. Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
  5. Form 16
  6. Latest 6 months salary slips for salaried persons
  7. Bank Statement of last 6 months
  8. Income Tax Returns (ITR) of last 3 years
  9. Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
  10. Processing fee Cheque
  11. Copies of the title documents of the property and the approved plan
  12. For Construction/ Renovation case, cost estimate from the Architect

Tax Benefits of availing Karnataka Vikas Grameena Bank Home Loan

There are two types of tax benefits associated with home loan for Resident Indians:

Repayment of the Principal Amount: One can get a Tax rebate under section 80C of the Income Tax Act on whole amount repaid by him in a financial year, maximum upto Rs. 1,50,000/- each financial year (Increased from 1 Lakh to Rs. 1.5 Lakh in Budget 2014).

Repayment of the Interest on Home Loan: Tax Benefit on Home Loan for payment of Interest is allowed as a deduction under Section 24(1) of the Income Tax Act. One is eligible for a Tax Rebate of maximum of Rs. 2 lakh per financial year for home loan interest paid by him/her during that financial year.

Karnataka Vikas Grameena Bank Home Loan Amount

25 % for Plot with construction. Up to 40 % based on the age of the old house.

Karnataka Vikas Grameena Bank Home Loan Repayment

Not exceeding 30 years or 75 years of age whichever is earlier(Including repayment holiday if any)

Security

Mortgage of the property constructed | purchased.

In Case of Prepayment of Karnataka Vikas Grameena Bank Home Loan, will EMI change?

One can pre-pay Karnataka Vikas Grameena Bank Home Loan without any prepayment charges as it allows prepayment at nil charges in case of floating rate home loans. If the borrower makes a prepayment, the outstanding balance of principal amount of his home loan reduces. Then in that case he has following 2 options:

  1. He can continue with the existing and reduce the loan tenure
  2. He can reduce the EMI and keep the loan tenure the same

Out of above 2 options, first option is more beneficial for the borrower as he pay less interest to the bank as the pay off home loan will be faster.

How to reduce your Home Loan EMI?

  • Negotiate with your banker on lower interest rate
  • Apply for longer tenure
  • Give maximum amount as down payment
  • Pre-pay loan amount
  • Switch to another bank/ FI offering lower interest rate

Contact details of Karnataka Vikas Grameena Bank, Karnataka Vikas Grameena Bank SMS balance check number SMS banking, Karnataka Vikas Grameena Bank mobile banking, Karnataka Vikas Grameena Bank toll free number,Karnataka Vikas Grameena Bank toll free number 24*7, Karnataka Vikas Grameena Bank miss call number.

  • MISSED CALL NUMBERS - 9278700859
  • CUSTOMER CARE NUMBERS - 18004251666, 0836-2448328
  • CONTACT NUMBERS - 18004251666, 0836-2448328,2448626,2217140

Karnataka Vikas Grameena Bank Contact Details

  • BANK OFFICIAL WEBSITE - https://www.kvgbank.com
  • CONTACT NUMBERS - 18004251666, 0836-2448328,2448626,2217140
  • EMAIL ID - [email protected],[email protected]
  • MISSED CALL NO. - 9278700859
  • CUSTOMER CARE NO. - 18004251666, 0836-2448328
  • TOTAL BRANCHES - 654
  • HEADQUARTER - Dharwad
  • BANK ADDRESS - P.B.No. 111, Belgaum Road, Dharwad - 580 008, Karnataka
Karnataka Vikas Grameena Bank EMI Calculator  Karnataka Vikas Grameena Bank Branches
Karnataka Vikas Grameena Bank Home Loan FAQs  Home Loan Document Required

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Karnataka Vikas Grameena Bank Home Loan Interest Rate at 8.5% to 9.5% 24 Feb 2024