Happy Home Loan

Apply for Happy Home Loan

If you are a resident Indian or HUF and want to purchase a house we have an exclusive Happy Home Loan scheme to cater your needs.

  • All  Resident Individuals and HUF (opening through Kartas) .
  • NRI ‘s can also avail the loan under KVB – Gruhapravesh.
  • Purposes:
    • For construction of Independent Houses
    • For outright purchase of Independent Houses, Flats (not older than 15 years)
    • For purchase of plots and construction there on.
    • For Take over of Loans from another Bank / FI’s
    • For Improvement/ Repairs/ Additional construction/Renovation of existing houses or flats owned by you.
    • For purchase of Plots or Flats developed by Government Authorities.


20.00% - For New Houses/Flat – Upto Loan amount of Rs. 75.00 lakhs
25.00% - For New Houses / Flats – Above loan amount of Rs. 75.00 lakhs.
25.00%- For Old Houses/Flat where age of the property is upto 15 years
30.00%- For Old Houses/Flat where age of the property is above 15 years
(* Relaxation available based on merits)

Maximum Repayment Tenor

25 Years (Including Holiday Period) - EMI

Maximum Holiday Period

12 Months

SCHEME ROI (floating) p.a.
Housing loan One year MCLR (i.e. 9.00%)
3-month MCLR (i.e. 8.65%) for CIBIL score of 750 & above)
Housing Loan under CRE norms One year MCLR + 0.35% (i.e. 9.35%)
Processing Charges
Loans upto Rs. 25.00 lakhs Rs. 2500/- + GST
Loans between Rs. 25.00 lakhs & Rs. 50 lakh Rs. 5000/- + GST
Loans above Rs. 50.00 lakhs Rs. 7500/- + GST

Primary Security

Equitable Mortgage of Land & building

Collateral Security

Optional (NSC/KVP/LIC Policies, Bank Deposits, Land & Building etc.,)


A suitable Guarantor with sufficient net worth , acceptable to the Bank (preferably spouse or family members or friends)

Insurance Coverage for the Borrower

Available to the extent of Loan amount with LIC, SBI Life and BSLI as SINGLE PREMIUM payable by the Borrower.
(Available if the borrower is interested)

Other Terms & conditions

  • In case of Salaried Persons:  Salary certificate for the last 6 Months to be submitted along with certificate from the Employer.
  • In case of Self Employed: Latest ITR/Income Statement to be submitted.
  • The Net Take Home pay after deducting the proposed Loan Installments shall be at least 40% of gross pay.
  • For the purpose of Maximum loan eligibility Income of the SPOUSE may be added.
  • Agriculturist may also avail the loan with proper proof of income (IT Return)
  • Loan may be granted to purchase vacant land provided they should begin construction within 6 months from the date of availing the loan.
  • No prepayment charges will be levied.