Kerala Gramin Bank Home Loan Interest Rate at 8.50% to 9.75%
| INTEREST RATE | 8.50% to 9.75% |
| LOAN TENURE | 30 Years |
| PROCESSING FEE | As decided by the bank from time to time |
| GUARANTOR REQUIRED | Yes |
| PRE CLOSURE CHARGES | As per bank's discretion |
Calculate Kerala Gramin Bank Home Loan EMI Calculate EMI Now
About Kerala Gramin Bank
Kerala Gramin Bank is a gramin bank in india established on 07-08-2013. It has headquarter in Malappuram and address is PB No.10, KGB Towers, AK Road, Malappuram - 676 505. it has 651 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.
Kerala Gramin Bank Home Loan Interest Rates, Housing Loan at and 8.50% to 9.75% Updated on February 2024. Apply for Home Loan Online. Find Kerala Gramin Bank Home loan purpos, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.
Why Kerala Gramin Bank Home Loan?
- Kerala Gramin Bank provides a range of Home Loan Schemes designed for different needs of customers
- Interest Rate is very competitive and affordable
- Minimal Documentation
- It provides Flexible Repayment Options to the borrowers
- Easy and fast approval & disbursal of home loans
- Has dedicated team of well-experienced employees which also offer personalised service
- 24/7 customer care service of Kerala Gramin Bank offers timely assistance to the customers
Kerala Gramin Bank Home Loan Purpose
- Purchase of house property
- Construction/extension of house property
- Purchase of ready built Flat
- For undertaking repairs, renovation, up - gradation, extension, ceration of additional amenities
- Housing Loan for Second House / Flat
- 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.
- Duly filled and signed application form with photograph
- Identity Proof- Aadhar Card, PAN Card, Passport, Driving License, Voter id card, ID-card issued by Government
- Address Proof - Aadhar Card, Passport, Driving License, Voter id card, Electricity/ Telephone/ Post-Paid Mobile bill, Bank statement
- Age Proof - Passport, Birth Certificate, PAN card, Driving License, Voter id card, Employee ID card (only for PSU/ Government employees), School/ College leaving certificate
- Form 16
- Latest 6 months salary slips for salaried persons
- Bank Statement of last 6 months
- Income Tax Returns (ITR) of last 3 years
- Last 3 years CA Certified or Audited Balance Sheet and Profit & Loss Account
- Processing fee Cheque
- Copies of the title documents of the property and the approved plan
- For Construction/ Renovation case, cost estimate from the Architect
- He can continue with the existing and reduce the loan tenure
- He can reduce the EMI and keep the loan tenure the same
- 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
- MISSED CALL NUMBERS - 9015800400
- CONTACT NUMBERS - 0483 2733509, 0497 2717800
- BANK OFFICIAL WEBSITE - https://www.keralagbank.com
- CONTACT NUMBERS - 0483 2733509, 0497 2717800
- EMAIL ID - [email protected], [email protected]
- MISSED CALL NO. - 9015800400
- TOTAL BRANCHES - 651
- HEADQUARTER - Malappuram
- BANK ADDRESS - PB No.10, KGB Towers, AK Road, Malappuram - 676 505
Kerala Gramin Bank Home Loan Eligibility
Kerala Gramin Bank Home Loan Document Required
Tax Benefits of availing Kerala Gramin 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.
Kerala Gramin Bank Home Loan Amount
For Residents: 5 times of annual incomeFor NRI: 4 times of annual income
Margin
20% of the total costKerala Gramin Bank Home Loan Repayment
Maximum 30 yearsSecurity
Equitable Mortgage of land and building constructed / to be constructed / to be purchased by Bank FinanceThe value of the property should be atleast 125% ot the loan limit
In Case of Prepayment of Kerala Gramin Bank Home Loan, will EMI change?
One can pre-pay Kerala Gramin 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:
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?
Note : a concession of 0.25% from the applicable rate may be provided for Housing Loan Premium (HLP) sanctioned to Government and PSU employees
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Kerala Gramin Bank Contact Details
Kerala Gramin Bank Home Loan FAQs Home Loan Document Required
