KBL Xpress Ghar Niveshan Loan
Embark on the journey of crafting your dream home with our loan for land purchase, designed for flexibility and convenience. With us, securing a home loan for land purchase becomes a clear and simple process, laying the groundwork for your future abode. We offer competitive interest rates and adaptable repayment plans, recognizing the significance of your investment. Opt for our housing loan for land to begin building your dreams on a foundation of supportive and hassle-free financial solutions Read more Read less
Why this loan is for you
Designed to give you just what you need
Finance your residential plot or converted site with ease and comfort
Up to 120 months repayment period for greater financial comfort
Efficient online processing with quick approvals
Make matters simple and straightforward
A smart calculator for smart spending and savings
Home loan calculator
You will pay
₹13,800/Months
Eligibility criteria
Must construct a house within 5 years of plot purchase and be atleast 21 years
- Salaried person: monthly salary of ₹10,000
- Self-employed: annual income of ₹1,20,000
- Salaried person: monthly salary ₹40,000
- Self-employed: minimum gross income ₹4,80,000
Documents required
- Aadhaar and PAN cards of the applicant/guarantor
- Income proof
- Last 12 months’ bank statement of the applicant (If existing customer, then the system auto-fetches the bank statement)
- RTC copy (if the applicant is an agriculturist)
- Sale agreement
As easy as 1,2,3...
Apply for a home loan in 3 simple steps
Step 1
Visit your nearest branch
Go to your nearest Karnataka Bank branch
Step 2
Start with your basic details
Provide your basic details and keep your documents handy
Step 3
We’ll take care of the rest
Our branch officials will notify you when your loan is sanctioned
Explore other options for you
Trusted by thousands and handpicked for financial excellence
Got questions? We’ve got answers.
We require a mortgage of the property you're financing as security. Rest assured, we guide you through this process, ensuring the property has a clear and marketable title, safeguarding your interests and ours.
You're required to pay 20% of the plot's registration value upfront, known as the down payment or margin money.
Equated Monthly Installmen is a structured payment method that enables you to repay your loan in fixed monthly amounts. This includes both the interest and the principal, designed to reduce your loan balance while fitting into your monthly budget comfortably.
Yes, first-time homebuyers can avail of tax benefits on both the principal and interest components of the home loan under various sections of the Income Tax Act.
Yes, you can prepay your loan. For the applicable charges and conditions, please refer to your loan agreement for exact terms and conditions of a particular loan when applying.
Home loans are specifically designed to facilitate the purchase, construction, or renovation of a residential property. They are typically long-term loans, with tenures extending up to 30 years, allowing for manageable repayment plans. The loan amount usually covers a significant portion of the property's value, often up to 80-90%. The primary benefit of a home loan is the ability to acquire property without immediate full payment, making homeownership accessible. They often come with competitive interest rates, especially when compared to unsecured loan types. Home loans also offer tax benefits, allowing deductions on both principal and interest payments under various sections of the Income Tax Act in India.
For those looking to invest in land, our loan for land purchase is designed to turn your plans into reality. Whether you require a home loan for land purchase to build your future residence or seek a housing loan for land as an investment, we guide you through the financial intricacies. We also support the purchase of residential plots, ensuring you have the means to secure your desired piece of land.
The interest rate can be either fixed or floating. Fixed rates remain constant throughout the tenure, providing certainty in budget planning. Floating rates, however, are linked to market conditions and can fluctuate. The interest calculation on a reducing balance basis means that as you gradually repay the principal, the interest component on your EMIs decreases. It's crucial to assess your repayment capacity before taking a home loan. Factors such as down payment, EMI affordability, loan tenure, and additional costs like processing fees, legal charges, and stamp duty should be thoroughly considered. Also, keep an eye on market trends, as they can affect floating interest rates.
Do ensure to have a stable income source and a good credit score before applying. Compare different lenders for the best interest rates and terms. Don't underestimate the impact of additional costs. Maintain a contingency fund for unexpected expenses. Timely repayment is crucial, as defaulting on a home loan can have serious consequences, including the loss of your home.
