KVB Gruhapravesh for NRI

KVB to cater the needs of Non-resident Indians (NRI) and Persons of Indian Origin (PIO) has designed a specific product in the name of KVB - NRI – Gruhapravesh. 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 6 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 23 years.
  • Valid Indian Passport (For NRIs) / Valid foreign passport (For PIOs).
  • A steady source of income.
  • Employed abroad for at least 2 years.
  • Valid job contract or work permit.
  • Minimum Net Monthly Income (NMI) of US$ 1500 or Minimum Net Annual Income (NAI) of US$ 18000/- (or its equivalent in any other foreign currency).
Charges and Limits
Margin 10% to 30%
Maximum Repayment Tenor 25 Years – EMI (Subject to the liquidation of the loan by the age of 70 years.
Maximum Holiday Period For Construction 24 months and for an outright purchase of Flat 3 months.
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
Loans up to Rs. 25 Lakhs Rs. 2,500/- + GST
Loans between Rs. 25 Lakhs & Rs. 50 Lakhs Rs. 5000/- + GST
Loans above Rs. 50 Lakhs Rs. 7,500/- + GST
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
Nature of Facility ROI
KVB Gruhapravesh Starting from 9.65% to 11.65%

Note : Rate of Interest linked to MCLR. Rates will change based on prevalent MCLR.

To check Interest rate: Click here

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