Home Loan

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.

Features and Benefits

Non-Resident Indians (NRI) and Persons of Indian Origin (PIO) shall avail the loan.

Personal Criteria

  • 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).
Charges and Limits
Maximum Loan Amount Rs. 300 Lakhs
Margin 20%
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
  • 0.25% + GST of the loan amount for Loans up to Rs. 25 Lakhs.
  • Rs. 10,000/- + GST for loans between Rs. 25 Lakhs and Rs. 75 Lakhs.
  • Rs. 20,000/- + GST for loans above Rs. 75 Lakhs.
Other Terms & Conditions
  • Repayment of loan by way of remittances from abroad through normal banking channels.
  • Funds transfer from NRE / FCNR / NRO accounts.
  • Housing loan in INR availed of by NRIs / PIOs can be repaid by close relatives of the borrower in India.
  • Repayment of the loan can be from local sources after returning to India permanently.
  • Interest is applied on the basis of daily diminishing balance.
Interest Rate

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