Spectrum of Advances


KBL APNA GHAR/ELITE (Finance for purchase/renovate house)

Eligibility Criteria:

  • Individuals who are resident of India.

  • NRIs holding an Indian passport.

  • Age Limit:

  • 21 years and above.

  • Income:

  • Resident Indian:

  • Salaried Persons :Minimum gross monthly salary Rs.10,000/-

  • Agriculturist : Minimum Annual net income Rs.1,20,000/-

  • Business Men/Professionals/Self Employed: Minimum Annual gross income Rs.1,20,000/-

  • NRIs:

  • Salaried Person: Minimum gross monthly salary Rs. 40,000/-

  • Business Men/Professionals/Self Employed: Minimum Annual gross income of Rs.4,80,000/-

Purpose:

  • Construction / purchase of house / flat.

  • Renovation / remodelling / repair to existing house / flat.

Amount of Finance:

  • Salaried Person: 60 times of latest monthly Net salary.

  • Businessmen/Professionals/Self Employed: 5 times the average net income/Profit plus depreciation provided ,if any, of the last 2 years as per P&L a/c in case of traders/Self-employed/Professional .

  • Agriculturist: 5 times the current year net income.

Maximum Amount:

  • Purchase/Construction:

  • up to Rs. 500 lakh.

  • Renovation/Remodelling/Extension/Repair

  • Up to Rs. 30 lakh.

Maximum period of Loan:

  • Construction: up to 30 years.

  • Renovation/Repair: 7 years.

Security:

  • Mortgage of house property to be constructed / purchased / repaired / remodelled / renovated.

  • Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor.

Repayment:

  • General : In equal / equated monthly installments (EMIs).

  • Agriculturist : Yearly basis including yearly interest.

Margin:

  • New construction : 15 – 20 %

  • Houses/ Flat above 10 years : 30 %


Rate of interest: Click Here for Latest Rate of Interest

 

KBL HOME COMFORT (Finance for furnishing house)

Eligibility Criteria:

  • Who have already availed loan under KBL-Apna Ghar/Elite scheme.

  • Who have not availed any loan from any FI for their Residential property/ closed the housing loan already availed.

Purpose:

  • Furnishing, interior works, acquiring furniture-fixtures, Solar heating/lighting systems.

Amount of Finance:

  • Up to 75% of the estimated cost of assets to be purchased/works to be carried out.

Maximum Amount:

  • Rs. 100 lakh.

Maximum period of Loan:

  • Up to 120 months.

Security:

  • Hypothecation of assets acquired out of loan.

  • Already Mortgaged house/flat property obtained for the housing loan(for KBL-Apna Ghar/Elite Scheme loan).Or Mortgage of the relative house/flat property for which the facility is sought

  • Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor.

Repayment:

  • In equal / equated monthly installments (EMIs).

Margin:

  • 25 %


Rate of interest: Click Here for Latest Rate of Interest

 

KBL GHAR NIVESHAN (Finance for purchase of house site)

Eligibility Criteria:

  • Individuals who are resident of India.

  • NRIs holding an Indian passport.

  • Age Limit:

  • 21 years and above.

  • Income:

  • Resident Indian:

  • Salaried Persons :Minimum gross monthly salary Rs.10,000/-

  • Others : Minimum Annual gross income Rs.1,20,000/-

  • NRIs:

  • Salaried Person: Minimum gross monthly salary Rs. 40,000/-

  • Others : Minimum Annual gross income of Rs.4,80,000/-

Purpose:

  • Purchase of house site.

Amount of Finance:

  • Up to 80% of the Registration value of the site with a maximum of Rs. 50 lakh.

Maximum period of Loan:

  • 60 months

Security:

  • Mortgage of house site to be acquired.

  • Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor.

Repayment:

  • General: In equal / equated monthly installments (EMIs).

  • Agriculturist: Yearly basis including yearly interest.

Margin:

  • 20 %


Rate of interest: Click Here for Latest Rate of Interest

 

KBL HOME TOP UP (Finance for meeting personal requirements)

Eligibility Criteria:

  • Who have already availed loan under KBL-Apna Ghar/Elite scheme/KBL Home Comfort and where the related property is already mortgaged.

  • Age Limit:

  • 21 years and above.

Purpose:

  • Meeting variety of personal needs. (Other than for speculative purpose).

  • In case of NRIs, the purpose should be as permitted under FEMA guidelines.

Amount of Finance:

  • Up to 75% of the total market value of the mortgaged property with a maximum of Rs. 100 lakh.

Maximum period of Loan:

  • Up to 120 months

Security:

Continuation of already mortgaged house/flat property obtained for the housing loan.

Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor.

Repayment:

  • In equal / equated monthly installments (EMIs).

Margin:

  • 25 %


Rate of interest: Click Here for Latest Rate of Interest

 

KBL CAR FINANCE (Finance for purchase of New/ Second Hand Cars)

Eligibility Criteria :

An individual who is an income tax assessee.

Agriculturists owning agricultural properties

  • A company / firm/ trust/ association/societies  availing the loan in its name or in the name of its executive / managing director /  managing partner/managing trustee/president/secretory.

  • NRIs are also eligible.

  • Age limit : 21 years and above

Purpose:

  • Purchase of new vehicle / second hand vehicle not older than 5 years from the date of its registration.

Amount of Loan:

Up to 85% of on road price including cost of vehicle+Road tax+Insurance +Registration charges, subject to a maximum of Rs.75.00 Lakhs for new vehicle.

  • Maximum of Rs.20 lakh in the case of second hand / used vehicle.

Maximum Period:

  • Up to 84 months (new vehicle) and 34 months (second hand vehicle).

Security:

  • Hypothecation of vehicle to be purchased.

  • Third party co-obligation / guarantee in the case of individual.

Margin:

New vehicle: 15 %

Old vehicle: 25%- 30%


Rate of interest: Click Here for Latest Rate of Interest

 

KBL EASY RIDE (Finance for purchase of Two Wheeler)

Eligibility Criteria :

Salaried person/Business persons/Professional/self employed.

Agriculturists owning agricultural properties.

  • A company / firm or in the name of its executive / managing director /  managing partner.

  • Age limit : 18 years to 60 years

  • Income :

  • Salaried Persons :Minimum gross monthly salary Rs.5,000/- or gross annual income of Rs.60,000/- p.a.

  • Business persons/Professional/Self Employed : Minimum gross monthly income Rs.4,000/.

Purpose:

  • Purchase of new two-wheeler.

Amount of Loan:

Up to 85% of on road price including cost of vehicle+Road tax+Insurance +Registration charges, or Rs.2.00 lakh per vehicle,which ever is lower.

Maximum Period:

  • 60 months

Security:

  • Hypothecation of new two wheeler to be purchased.

  • Third party/family member co-obligation / guarantee .

Margin:

15% on on-road cost of vehicle.


Rate of interest: Click Here for Latest Rate of Interest

 

KBL Salaried Persons Loan (Scheme for Financing Salaried persons)

Eligibility Criteria:

Permanent employees of listed companies, schools, colleges and universities having a minimum remaining  service of  3 years.

Age Limit : 21 years – 60 years.

Purpose:

  • Purchase of household articles / consumer durables.

  • Children's education.

  • Marriage and thread ceremony of self / dependants.

  • Medical expenses of self / dependants.

  • Obsequies expenses.

  • Repair of own house.

 Amount of Loan:

  • Maximum 10 times of monthly gross salary. 

  • Maximum quantum of loan is Rs.5 lakh.

Period of Loan: 

Upto 60 months.

 Security:

  • Up to Rs 3.00 Lakh :

Co-obligation of solvent party / co-employee who should be a permanent employee of reputed companies, schools, colleges or universities.

  • Above Rs 3.00 Lakh :  

Co-obligation of solvent party / co-employee who should be a permanent employee of reputed companies, schools, colleges or universities and Liquid security of LIC policies(SV), NSC, deposits to the extent of 25% of the limit.


Rate of interest: Click Here for Latest Rate of Interest

 

KBL INSTA CASH (For Consumption Purposes)

Eligibility Criteria:

  • Any individual between the age of 18 years and above, Hindu Undivided Family business, Joint Borrowers or Partnership Firms are eligible for this loan. 

Amount of Loan :

  • Minimum loan limit to Rs.10,000/-.

  • Maximum loan limit to Rs.500.00 lakhs.

Maximum period of Loan:

  • The maximum period is 60 months for fixed loans and 24 months for the Over Draft facility. Interest should be remitted monthly.

  • The loan may be repaid on the due date as a lump sum or monthly / quarterly / half yearly / yearly instalments.

Security:

Pledge NSCs / Kisan Vikas Patras / Post Office Time Deposits.

Repayment:

Monthly/quarterly/half yearly/yearly installments or on the due date in lump sum

Monthly interest to be serviced as and when debited.

Margin:

  • 10 % - 40 %


Rate of interest: Click Here for Latest Rate of Interest

 

 KBL MSME (Finance for Micro, small and Medium Enterprises)

Eligibility Criteria:

  • All Micro, Small and Medium enterprises engaged in manufacturing or production, processing or preservation of goods and engaged in providing or rendering of services, conforming to the definition of MSME as per MSMED Act 2006.

Purpose:

  • Working Capital requirements.

  • Establishment and/or improvement of the unit, repairs & renovations, acquiring machineries/vehicles/ equipments/ any fixed assets for the unit,

  • Purchase/acquiring of property (shop/factory/godown /office) for self use.

Amount of Finance:

  • Maximum up to Rs.500.00 lakh.

  • Purchase of vehicle up to Rs.100 lakh.

Maximum period of Loan:

  • Working capital up to 18/15/12/34 months.

  • Term loan up to 60/84 months.

Security:

  • Hypothecation of stocks/book debts /assets acquired/Mortgage of business premises or property acquired out of loan amount.

  • Exposure not eligible for CGTMSE coverage, Collateral security of properties with not less than 60% coverage and Guarantee/co-obligation of a suitable party.

Repayment:

  • OD/BPC/BG/LC/DPG: As per rules.

  • Others: In equal monthly installments + Interest as & when debited OR in EMI.

Margin:

  • BG/LC/DPG: 25 %

  • New vehicles/Equipment’s/Projects/Others : 15%- 30%.


Rate of interest: Click Here for Latest Rate of Interest

 

KBL MORGTAGE (Finance for meeting business/personal requirements)

Eligibility Criteria:

  • Individuals who are resident of India.

  • NRIs holding an Indian passport.

  • Age Limit:

  • 21 years and above.

  • Income:

  • Resident Indian:

  • Salaried Persons :Minimum gross monthly salary Rs.10,000/-

  • Others : Minimum Annual gross income Rs.1,20,000/-

  • NRIs:

  • Salaried Person: Minimum gross monthly salary Rs. 1 lakh.

  • Others : Minimum Annual gross income of Rs.12 lakh.

Purpose:

  • For meeting business/professional needs, House repair, House renovation, development of property and also for consumption purpose.

  • In case of NRIs, the purpose should be as permitted under FEMA guidelines.

Amount of Finance:

  • Three times of the average annual income of last two years/36 times the latest take home salary/50% of the market value of the property(40 % of market value for industrial properties).

  • Subjected to a minimum of Rs . 3 lakh and maximum of Rs. 500 lakh.

Maximum period of Loan:

  • Up to 120 months

Security:

  • Mortgage of properties.

  • Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor

Repayment:

  • General : In equal / equated monthly installments (EMIs).

  • Agriculturist : Yearly basis including yearly interest.

Margin:

  • Minimum up to 60%


Rate of interest: Click Here for Latest Rate of Interest

 

KBL MORGTAGE OD(Finance for meeting business/professional/working capital requirements)

Eligibility Criteria:

  • Customers/units eligible to be classified under Priority Sector(MSE) only.

  • Age Limit: 21 years and above.

Purpose:

  • For meeting business/ professional/Working capital needs.

Amount of Finance:

  • Three times of the average annual income of last two years/ 50% of the market value of the property (40 % in case of industrial properties).

  • Subjected to a minimum of Rs 11 lakh and maximum of Rs 100 lakh.

Maximum period of Loan:

  • 12 months

Security:

  • Mortgage of properties.

  • Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor

Repayment:

As per Overdraft guidelines.

Margin:

  • Minimum up to 60%



Rate of interest: Click Here for Latest Rate of Interest

 

KBL SUVIDHA OD(Finance for meeting Personal requirements)

Eligibility Criteria:

  • Individuals who are resident of India.

  • Age Limit:

  • 21 years and above.

  • Income:

  • Resident Indian:

  • Salaried Persons :Minimum gross monthly salary Rs.10,000/-

  • Retired Persons: Disposable income from other than pension should be available.

  • Others : Minimum Annual gross income Rs.1,20,000/-

Purpose:

  • For meeting variety of personal needs.

Amount of Finance:

Two times of the average annual income of last two years / 24 times of the latest take home salary which ever is lower subjected to minimum of Rs.1.00 lakhs and Maximum loan of Rs.25.00 lakh.

Maximum period of Loan:

  • 24 months

Security:

  • Mortgage of residential/commercial properties /liquid securities with a minimum value of 150% of applied loan limit.

  • Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor

Repayment:

As per OD rules. Account shall be renewed within due date / 24 months

Margin:

  • 33.33% on value of security


Rate of interest: Click Here for Latest Rate of Interest

 

KBL LEASE N CASH (Finance for meeting credit requirement of property owners)

Eligibility Criteria:

Applicants should be bona fide owners of the leased property.

The lessees shall be a reputed and established entity

Purpose:

For repair, renovation, investment.


Amount of Finance:

Up to 80% of the Net Rent Receivables OR net rent of residual lease period, whichever is less subjected to Maximum Rs.500 Lakhs

Maximum period of Loan:

  • Up to 84 months

Security:

Mortgage of leased property or any other commercial/residential property

Repayment:

Equal/Equated Monthly Installments out of rent receipts.

Margin:

20% on net rent receivables.


Rate of interest: Click Here for Latest Rate of Interest

 

KBL MAHILA UDYOG (Finance for women entrepreneurs)

Eligibility Criteria:

Any literate/illiterate women who has attained the age of majority.

Purpose:

For meeting credit requirement of any income generating activity.


Amount of Finance:

Maximum Rs.1.00 lakh per borrower.

Maximum period of Loan:

  • 60 months

Security:

Hypothecation of asset created with Bank finance.

Repayment:

Equated Monthly Installments.

Margin:

Nil


Rate of interest: Click Here for Latest Rate of Interest

 

KBL RAVI KIRAN(Finance for reaping of Solar Energy)

Eligibility Criteria:

Individuals/HUF/Farmers/Traders/Bussinessmen/Proprietorship concerns/Professionals/Salaried persons/Institution etc.

Purpose:

Installation of solar lighting system,Solar water heating system,solar latern etc.


Amount of Finance:

Maximum Rs.10.00 lakh.

Maximum period of Loan:

  • 60 months

Security:

Hypothecation of solar energy products with accessories installed.

Third party solvent co-obligation/guarantee.


Repayment:

Equal/Equated Monthly/quaterly/half yearly/yearly Installments.

Margin:

15% of the project cost.


Rate of interest: Click Here for Latest Rate of Interest

 

KBL VIDYANIDHI(Finance for Education)

Eligibility Criteria:

Any student, representing himself / herself if major, or a minor student represented by parent or guardian, of Indian nationality, who has secured admission to a professional / technical / other course, in India or abroad.

What are the courses eligible for finance?

Studies in India:

Graduate Courses: B.A.,B.Sc., B.Com., B.C.A., B.B.M., Diploma in Engineering.

Post Graduate Courses : Masters and Ph.D.

Professional Courses : Engineering, Medical, Agriculture, Nursing, Veterinary, Law, Dental, Management, Computer, Pharmacy, Physiotherapy, Hotel Management, ICWA, CA, CFA.

Courses conducted by IIM, IIT, XLRI, NIFT

Courses offered in India by reputed foreign universities; Evening Courses of approved Institutes.

Other Courses leading to Diploma / Degree conducted by Colleges / Universities approved by UGC / GOVT. / AICTE /AIBMS / ICMR; Courses offered by National Institutes and other reputed private Institutions.

Studies Abroad:

Graduation : Only for job oriented professional / technical courses offered by the reputed Universities

Post Graduation : MCA, MBA, MS; Courses conducted by CIMA-London, CPA in USA etc.

What is the amount of loan available?

In India - a maximum of Rs.10 lakh.

Abroad - a maximum of  Rs.20 lakh.

What kind of expenses does the loan cover?

In India:

Tuition Fees, Hostel Fees and Boarding and Lodging Fees if resident outside Hostel; Examination / Laboratory and Library Fees; Purchase of Books / Study material / Equipment and Uniforms; Caution Deposit / Building Fund / Refundable Deposits (supported by Receipts issued by the Institution); Travel expenses / passage money .

For study abroad:

Purchase of Computer if certified as essential for completion of course.

other expenses like Project Work, Study Tour and Thesis, which are necessary for completion of course.

 

What is the amount of margin money required?

Up to Rs.4 lakh: No margin required.

Above Rs.4 lakh:

5% for studies in India.

15% for studies abroad. Scholarship / Assistantship may be reckoned as part of margin.

Margin may be brought in on year-to-year basis as and when disbursements are made, on a pro-rata basis.

Security:

Up to Rs.4 lakh:

No security

Above Rs.4 lakh and upto Rs.7.50 lakh:

Collateral in the form of a suitable third party guarantee.

Above Rs.7.50 lakh:

Collateral security of suitable value /suitable third party guarantee along with the assignment of future income of the student for payment of instalments.


What is the period for repayment of the loan?

The loan shall be repaid in 5 to 7 years after commencement of repayment. If the student secures employment during the holiday period, the repayment schedule should be advanced to commence immediately.

The completion of the course includes internship or apprenticeship if compulsory for award of Degree.

If the student does not complete the course within the scheduled period, a maximum period of 2 years is permitted for completion.

If the student is unable to complete the course for reasons beyond his control then extension may be granted if deemed necessary to complete the course.

The accrued interest during the repayment holiday will be added to the principal and repayment in equated monthly installments (EMI) shall be fixed.


Rate of interest: Click Here for Latest Rate of Interest

 

NOTE: RULES AND REGULATIONS ARE SUBJECT TO CHANGE FROM TIME TO TIME.

Terms & Conditions apply. Contact the nearest branch for more information.