Laxmi Vilas Bank Home Loan Interest Rate at 8.25% onwards

INTEREST RATE8.25% onwards
PROCESSING FEEUpto 1.20% of Loan amount plus applicable taxes
GUARANTOR REQUIREDPlease Contact Bank Branch
PRE CLOSURE CHARGESAs per bank's discretion
Note: Updated on May 2022, for latest interest rates, please visit bank website.

Calculate Laxmi Vilas Bank Home Loan EMI Calculate EMI Now

About Laxmi Vilas Bank

Laxmi Vilas Bank is a private sector bank in india. Laxmi Vilas Bank was founded on 1926. It provides all the financial services to its customers like saving deposit, fixed deposit, recurring deposit, home loans, personal loan, car loan, education loan, gold loan, PPF account, lockers, netbanking, mobile banking, RTGS, NEFT, IMPS, E-Wallet, Atal Pension Yojana, Pradhan Mantri Jandhan Yojana, Pradhan Mantri Suraksha Bima Yojana, Pradhan Mantri Jeevan Jyoti Bima Yojana and many more.

Find details about Laxmi Vilas Bank which includes Laxmi Vilas Bank Official Website, Laxmi Vilas Bank ATMs accross the India, Laxmi Vilas Bank Branches accross the India, Laxmi Vilas Bank Contact Numbers, Laxmi Vilas Bank official EmailID, Laxmi Vilas Bank Headquarter and Laxmi Vilas Bank Headquarter Address. Find Laxmi Vilas Bank Home loan purpose, Eligibility, Margin, Repayment of Home Loan ,Security, Document Required for Home Loan from below.

Other Products of Laxmi Vilas Bank:

Home LoanPersonal Loan
Education LoanBusiness Loan
Car LoanTwo Wheeler Loan
Gold LoanFD Interest Rates
RD Interest RatesBank ATMs
PPF Account 

Why Laxmi Vilas Bank Home Loan?

  1. Laxmi Vilas 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 Laxmi Vilas Bank offers timely assistance to the customers

Laxmi Vilas Bank Home Loan Purpose

  1. Construction of new house | flat
  2. Purchase of a new house |flat constructed by a reputed Promoter | Contractor.
  3. Additional construction or alterations carried out by the owners of the house.
  4. Repairs on House.
  5. Purchase of old houses.
  6. Purchase of approved residential plots.

Laxmi Vilas 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.

Laxmi Vilas 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 Laxmi Vilas 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.

Laxmi Vilas Bank Home Loan Amount

Customised, subject to market value of the porperty and repayment capacity of the applicant, as per bank's assessment


New construction : 20 % Old houses | flat : 25 %

Laxmi Vilas Bank Home Loan Repayment

Construction: Max. upto 240 months
Renovation|Repair: Max. Upto 60 months


Registered Mortgage of house property/flat to be constructed | purchased.

In Case of Prepayment of Laxmi Vilas Bank Home Loan, will EMI change?

One can pre-pay Laxmi Vilas 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 Laxmi Vilas Bank, Laxmi Vilas Bank SMS balance check number SMS banking, Laxmi Vilas Bank mobile banking, Laxmi Vilas Bank toll free number,Laxmi Vilas Bank toll free number 24*7, Laxmi Vilas Bank miss call number.

  • MISSED CALL NUMBERS - 8882441155
  • CUSTOMER CARE NUMBERS - 18602103456, 18602671234
  • CONTACT NUMBERS - 18004252233, 18602103456, 18602671234

Laxmi Vilas Bank Contact Details

  • CONTACT NUMBERS - 18004252233, 18602103456, 18602671234
  • EMAIL ID -
  • MISSED CALL NO. - 8882441155
  • CUSTOMER CARE NO. - 18602103456, 18602671234
  • BANK ADDRESS - Post Box No 2, Salem Road, Kathaparai, Vengamedu Post, Karur -639006, Tamil Nadu
Laxmi Vilas Bank EMI Calculator Laxmi Vilas Bank Branches
Laxmi Vilas Bank Home Loan FAQsHome Loan Document Required

Other Banks Home Loan Interest Rates

Banks Home Loan Interest Rates
Laxmi Vilas Bank Home Loan Interest Rate at 8.25% onwards 19 Nov 2023