Happy Home Loans

If you are a resident Indian or HUF and want to purchase a house, we have an exclusive Happy Home Loan scheme to cater to your needs. The process is entirely paperless. In principle, approval can be provided in 15 minutes subject to the satisfaction of CIBIL and rating scores.

Features and Benefits
  • All Resident Individuals.
  • NRI ‘s can also avail the loan under KVB - Gruhapravesh.
  • Purposes
    • For the 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.
Charges and Limits
Margin 10% to 30%
Maximum Repayment Tenor 25 Years (Including Holiday Period) - EMI
Maximum Holiday Period For Construction 24 months and for an outright purchase of Flat 3 months

Processing Charges

Loans up to Rs. 25 Lakhs Rs. 2,500/- + GST
Loans between Rs. 25 Lakhs & Rs. 50 Lakhs Rs. 5,000/- + GST
Loans above Rs. 50 Lakhs Rs. 7,500/- + GST
Primary Security Equitable Mortgage of land & building.
Collateral Security Optional (NSC / KVP / LIC Policies, Bank Deposits, Land & Building etc.,).
Guarantee A suitable Guarantor wherever a co-applicant is not available.
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: Average Two years ITR. Salary certificate for the last 6 Months to be submitted along with a certificate from the Employer.
  • In case of Self Employed: Latest 2 years ITR/Income Statement to be submitted.
  • The Take Home pay after deducting the proposed Loan Installments shall be at least 25% of gross pay.
  • Loan may be granted to purchase vacant land and construction subject to commence and complete construction within 24 months period from the date of availment of the loan.
  • No prepayment charges will be levied.
Interest Rate

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