KVB Mortgage Loan

KVB Mortgage loan is a multi-purpose loan ideal for general business purposes other than speculative purposes.

Features and Benefits
  • Business enterprises, viz. proprietorship concerns, partnership firms, HUFs, LLPs, limited companies.
  • The property should be owned by the business enterprise or its proprietor or partner or director or spouse / parents / major children of proprietor or partner. Title holders should extend the guarantee. In the case of HUFs, the property should be owned by HUF and no personal property should be accepted.
  • The Business enterprise must be profit making for the last two years and show a positive growth trend in its business turnover. Financials shall be satisfactory.

Eligible Properties

  • The property should be located within 50 Kms radius of any of the branches of the Bank.
  • Residential properties put to residential use.
  • Commercial properties put to commercial use.
  • The property should be owned by a resident Indian.
  • Up to 3 Tenanted properties are allowed. However, the properties mortgaged should have separate & unhindered entrance and the properties where one unit have more than one tenant are not to be funded e.g., one floor having one unit and having more than one tenant should not be funded.
  • Industrial property converted to commercial property.
  • Doctors' clinics.
  • Approved vacant land either residential or commercial not exceeding 10,000 sq.ft. The land must be approved. No deviation is permitted.

Ineligible Properties

  • Godowns, Factories and Hospitals.
  • Cinema Halls, Restaurants, Hotels, Marriage Halls, Schools, Banquet Halls.
  • Agricultural Lands.
  • The nature of the loan is Term Loan (EMI) against Residential / Commercial Property.
Charges and Limits
Limit Minimum of Rs. 20 Lakhs and Maximum of Rs. 500 Lakhs.
Income Eligibility Based on the last three years average income as per audited financials or last year's net profit whichever is lower. Extraordinary income or income from other sources, which is not consistent to be excluded for computing the eligibility.
Repayment Tenor
  • Term Loan (EMI) -
  • Minimum repayment period 12 months Maximum repayment period 84 months (The residual age of the building as confirmed by the empanelled valuers at the maturity of the loan should not be less than 15 years.).
Primary Security Equitable mortgage (EM) of the property to be financed, by way of deposit of title deeds. Property mortgaged should have clear and marketable title.
Collateral Security Nil
Loan to Value (LTV)/Margin
  • 60% of Market Value (As certified by empanelled Valuers) of residential/commercial properties.
  • (100%-60%LTV = 40% Margin).
  • (Reduction in margin is not permitted).
Insurance - Property To be insured comprehensively against all risks for the value of the security.
Guarantors Partners / directors / property owners / husband of lady partner / lady director / lady owner.
Processing / Upfront Fees TL- 0.75% of the loan amount.
Foreclosure Charges For TL- 2% will be charged on the amount pre-paid.
Penal charges Additional 3% per annum on the arrears / overdue amount.
Take Over Permitted. Top-up also permitted subject to eligibility.
For more details contact your home branch.
Papers to be obtained along with application
  • Audited financial statements for the last three years.
  • Copy of Income Tax Return (ITR) pertaining to a period of the last three years.
  • Shops and Establishment certificate Excise / Sales Tax registration certificate MSE registration certificate, if applicable.
  • Last one year current account statement.
Interest Rate
  • The applicable Rate of Interest (ROI) is linked to the Credit Score / Rating.
  • For details please refer the section on Interest Rates.
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