- NRIs holding an Indian passport.
- Minimum age Limit: 21 years .
- Salaried Person: Minimum gross monthly salary ₹40,000/-
- Others : Minimum Annual gross income of ₹4,80,000/-
- As on date of application, the applicant should have a regular source of income from a gainful employment in reputed companies/ organizations/ Government Departments or they should be Self Employed Professionals.
- Maximum up to 84 months *Conditions Apply
- Mortgage of house site to be acquired
- Guarantee of the spouse wherever feasible in the absence of which third party solvent guarantor.
- General: In equal / equated monthly installments (EMIs).
- Agriculturist: Yearly basis including yearly interest.
- 20 %
- Purchase of house site.
Amount of Plot Finance:
- 80% of the Registration value of the site, subject to
- Maximum - Rs.75,00,000/- for land located at Metro and Urban areas.
- Maximum - Rs.50,00,000/- for land located other than Metro and Urban areas.
The above information is subject to terms and conditions.
For more details, please contact the nearest Branch
Frequently Asked Questions (FAQs) for KBL GHAR NIVESHAN
What is KBL Ghar Niveshan?
KBL Ghar Niveshan is the money borrowed from the Bank through Digital Mode for purchase of residential site (Converted land only).
What is the tenure of KBL Ghar Niveshan?
Maximum 84 months.
What are the eligibility conditions for availing KBL Ghar Niveshan?
- All Individuals who are resident of India.
- Above 18 years of age.
- For salaried maximum age limit is 60 years.
- For self-employed and Agriculturist maximum age limit is 70 years.
- Must construct the house within 5 years.
What security do I have to furnish?
- Mortgage of house site to be acquired.
- Guarantee of the Spouse wherever available OR of a suitable third party/family member, acceptable to the Bank.
What is a down payment/margin money?
Generally, banking & finance institutions finance upto 80% of the cost of the property bought. The remaining 20% of the amount is paid on an up-front basis, which is popularly known as the down payment/margin money.
How much margin money/down payment I have to give?
20% on Registration value of site.
What are the fees charged by the bank?
Processing fee/upfront fee (Legal, Valuation and Background Information Report charge).
What is an EMI?
EMI or Equated Monthly Instalment is a fixed amount repaid by you to the bank on a specific date every month. The EMI's are fixed when you borrow money from the bank as a loan. EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid in full to the bank along with interest.
What is EBLR?
EBLR stands for External Benchmark Lending Rate. Karnataka Bank has adopted 6 Months T-Bill (Treasury Bill) as the external benchmark to link its floating rate with effect from 01.09.2019.