KVB offers Home loans to cater the needs of Non-Resident Indians (NRI) and Persons of Indian Origin (PIO). The loan shall be availed for purchase of a ready built house in India, construction of a new house in India, home improvements / extension, land purchase and subsequent construction thereon within six months & for taking over of loans from other banks.
Non-Resident Indians (NRI) and Persons of Indian Origin (PIO) shall avail the loan.
- Minimum age 25 years.
- Valid Indian Passport (For NRIs) / Valid foreign passport (For PIOs).
- Steady source of income.
- Employed abroad for at least 2 years.
- Valid job contract or work permit.
- Minimum Net Monthly Income (NMI) of US$ 750/- or minimum Net Annual Income (NAI) of US$ 9000/- (or its equivalent in any other foreign currency).
|Maximum Loan Amount||Rs. 300 Lakhs|
|Maximum Repayment Tenor||25 Years - EMI (Subject to the liquidation of the loan by the age of 65 years or the age of retirement whichever is earlier).|
|Maximum Holiday Period||New Houses: 18 months from the date of first disbursement or 2 months after completion, whichever is earlier. |
Other Cases: 2 months after the last disbursement.
|Primary Security||Equitable mortgage by deposit of title deeds, registered mortgage when considered necessary.|
|Collateral Security||Additional security by way of lien over credit balances in deposit accounts, NSCs, life insurance policies, third-party guarantees, if security is either inadequate or not free from encumbrances.|
|Guarantee||A suitable guarantor with sufficient net worth, acceptable to the bank.|
|Processing Charges|| |
|Other Terms & Conditions|| |