Karur Vysya Home Loan
Headquartered in Karur, Tamil Nadu, Karur Vysya Bank is a Scheduled Commercial Bank in India. Thousands of Indian residents, NRIs, and PIOs have fulfilled their dream of buying a home through affordable Karur Vysya Bank home loans. The rate of interest for a home loan at Karur Vysya Bank starts at 8.95% per annum, and both salaried as well as self-employed borrowers can easily apply for the same. The maximum loan repayment tenure offered on Karur home loans is up to 25 years, and the maximum loan amount depends on the applicant's repayment capacity and the property's current market value.
Karur Vysya Home Loan EMI Calculator
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Karur Vysya Bank Home Loans Key Highlights
Get the lowest interest rates with Karur Vysya Bank Home Loan
| Loan Amount | As per the applicant’s repayment capacity and current market value of the property |
|---|---|
| Rate of Interest | Starts at 9.0% per annum |
| RPLR | |
| Processing Fee |
INR 2,500 - INR 7,500 |
| Maximum Tenure for Repayment | 25 years (Including Holiday Period) |
| Penal Rate of Interest | |
| Rate Packages | Floater/ Fixed |
| Charges for Prepayment/Foreclosure | Nil |
Karur Vysya Housing Finance Interest Rates in 2024
Karur Vysya Bank is known for affordable housing loan schemes offered with minimum documentation and easy eligibility criteria. The home loan interest rates at Karur Vysya Bank start at 9.0% per annum and can go up to 10.73% per annum.
The table below enlists the current Karur Vysya Bank home loan interest rate in 2024:
| Loan Slab | Interest Rate for Home Loan |
|---|---|
| Repo Rate + Spread (For Salaried) | 8.95% - 11% p.a. |
| Repo Rate + Spread (For Self Employed) | 8.95% - 11% p.a. |
| Rate of Interest (For Salaried) | 8.95% - 11% p.a. |
| Rate of Interest (For Self Employed) | 8.95% - 11% p.a. |
Interest rates were last updated on 1st December 2024
Karur Vysya Housing Finance Eligibility Criteria
KVB offers home loans to salaried and self-employed or non-salaried applicants who are Indian Residents, NRIs, or PIOs. But to get a home loan from Karur Vysya, every applicant must fulfill the pre-defined Karur Vysya Bank home loan eligibility criteria.
The table below enlists the complete KVB home loan eligibility criteria for your reference:
| Eligibility Parameters | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Age Range (in years) | 23 years - 65 years | 23 years - 65 years |
| Nationality | Indian Resident/ NRIs/ PIOs | Indian Resident/ NRIs/ PIOs |
| Minimum Income Earned |
Karur Vysya Housing Loan Processing Fee and Charges
The Karur Vysya home loan processing fee is different for different loan amount categories and starts at Rs. 2,500 + GST for loans up to Rs. 25 lakh. Besides the processing fee, the bank doesn't charge much for any other operation related to a housing loan scheme. The table below highlights all fees and charges levied by KVB:
| Processing Fee |
|
|---|---|
| Prepayment/ Foreclosure Charges | Nil |
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Karur Vysya Housing Loan Schemes And Top Plans
Karur Vysya Bank offers a wide range of home loan schemes to meet the varied needs of different types of applicants at affordable rates of interest. The list below highlights the top Karur Vysya Bank home loan schemes:
KVB Happy Home Loan
- Ideal home loan scheme for Indian residents, including Hindu Undivided Families or HUFs
- Maximum loan repayment tenure of up to 30 years
- Minimum rate of interest starts at 8.95% and goes up to 11% per annum
KVB Gruhapravesh for NRI
- Perfect home loans for NRIs and PIOs
- Maximum loan tenure of up to 25 years
- Minimum rate of interest starts at 8.95% and goes up to 11% per annum
KVB Housing Top-Up Loan
- Flexible repayment options
- Maximum loan repayment tenure of up to 30 years
- Minimum rate of interest starts at 9.20% and goes up to 10.55% per annum
Note: All of the above home loan plans are made available to applicants solely at the discretion of Karur Vysya, taking into consideration the earning and repayment capacity of the applicant.
Get Home Loan Starting at 8.5%*
Documents Required For Karur Vysya Housing Finance
Like all other banks and NBFCs, Karur Vysya Bank also asks for a set of documents to verify an applicant’s eligibility for a home loan. These include general KYC documents such as proof of identity, age, address, age, and income. Have a look at the complete Karur Vysya home loan documents required list mentioned below for your convenience:
Documents Required for Salaried Applicants
- Latest Salary Slip for the last 3 months
- Bank statements for the last 3 months
- Latest Income Tax Return/ Form 16
- Duly filled and signed application form
- 2 Passport-size photographs
- Processing fee cheque in favor of Karur Vysya Bank
Documents Required for Self-Employed Applicants
- Proof of business address
- Licence of Business or Licence to practice
- Copy of Registration of Business Establishment like Office, Clinic, Shop
- Complete Balance Sheet along with Profit and Loss Statement attested by a CA
- Latest ITR
- Duly filled and signed application form
- 2 Passport-size photographs
- Processing fee cheque in favor of Karut Vysya Bank
Common Documents Required from Both Salaried and Self-Employed Applicants
| Type of Document | Documents Required |
|---|---|
| Identity & Address Proof |
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| Documents Related to Property |
|
Find Karur Vysya Home Loan Offices Near You
If you are planning to visit one of the offices of Karur Vysya Bank Home Loan near you to understand the Karur Vysya Bank Home Loan Offer in detail and apply for the Home Loan, you can simply fill in the Free Consultation form and the team of BASIC Home Loan will reach out to you for needful assistance in the process.
Interest rates and fees on home loans vary based on eligibility and lender criteria. All applicable fees and charges are subject to relevant taxes and can change at the lender’s discretion. For the most current information on home loan interest rates, processing fees, other applicable charges, and updates on eligibility criteria and loan offers, please visit the official website of the bank.
FAQs
To apply for a Karur Vysya Bank home loan, an applicant must fill out the home loan application online or by visiting the nearest branch. Alternatively, interested applicants can reach out to the BASIChomeloan team for assistance in applying for a KVB home loan.
You can check your home loan status by visiting the official website of Karur Vysya Bank or by visiting the nearest branch.
The maximum loan repayment tenure for Karur Vysya Bank home loans is up to 30 years.
There is no particular minimum credit score asked by the KVB to sanction home loans. However, applicants with a CIBIL score of 750 and above have more chances of getting home loans from the bank.
Karur Vysya Bank doesn't have any stringent eligibility criteria to sanction home loans. The applicant must be at least 23 years or a maximum of 65 years of age, salaried or self-employed with adequate work experience, an Indian Resident, NRI, or PIO, and have a decent CIBIL score.
KVB may take into consideration certain factors while determining the housing loan interest rate, such as the applicant's repayment capacity, credit history, current repo rate of RBI, and so on.
Yes, you can easily apply for a Karur Vysya Bank home loan after using the EMI calculator at the bank's official website. Alternatively, you may apply for the same through the BASIChomeloan online portal.
Yes, you can easily transfer your outstanding loan amount to Karur Vysya Bank from another bank or NBFC through the KVB Balance Transfer home loan scheme.