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