Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (2024)

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Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (1)

Buying a home has become easier with the presence of eminent banks like Karur Vysya Bank, which offers hassle-free home loans. If you are an eligible applicant with a good CIBIL score, you can even expect instant home loan approval from KVB within 15 minutes. Karur Vysya Bank home loan interest rate begins at 8.95% per annum. KVB home loan interest rate for a top-up plan starts at 9.20% per annum. The bank charges a processing fee of Rs. 2,500 for home loans up to Rs. 25 lakhs and Rs. 5,000 for loan amounts between Rs. 25 lakhs and Rs. 50 lakhs, and Rs. 7,500 for loan amounts over Rs. 50 lakhs. KVB home loan borrowers can easily repay the home loan amount in 25 years.

Karur Vysya Home Loan EMI Calculator

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Karur Vysya Bank Home Loan Key Highlights

Amount of Loan Up to 90% of the property value
Rate of Interest 8.95% p.a. onwards
Processing Fees

Rs. 2,500 - Rs. 7,500 + GST

Max Tenure for Loan Repayment 25 years

Karur Vysya Bank Home Loan Interest Rates in 2024

KVB home loan interest rate starts at 8.95% per annum. No matter whether you are self-employed or salaried, you can easily apply for a home loan at Karur Vysya Bank with minimum documentation and easy eligibility criteria. For your quick reference, we are now highlighting the Karur Vysya Bank home loan interest rate 2024:

Loan Category Rate of Interest on Home Loan
Salaried Applicants 8.95% per annum onwards
Self-Employed Applicants 8.95% per annum onwards

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Standard Home Loan Rates of Interest for Salaried and Self-Employed Applicants

Repo Linked Lending Rate (RLLR)

Loan Category Rate of Interest on Home Loan (p.a.)
All Loan 8.95% per annum onwards

Karur Vysya Gruhapravesh Home Loan Interest Rates for NRIs

Loan Slab Rate of Interest on Home Loan (p.a.)
All Loans 8.95% - 11.00% per annum

Top-Up Loans Interest Rates

Loan Category Rate of Interest on Home Loan (p.a.)
Top-Up for Customers 9.20% - 10.55% per annum

Interest rates were last updated on 19th January 2024

Karur Vysya Bank Home Loan Interest Rates for All Schemes in India

Keeping in mind the varied needs of customers, KVB offers three types of home loan schemes. The rate of interest for these plans may vary from each other. Have a look at the table below to understand these 3 popular housing loan schemes offered by Karur Vysya Bank:

Rates of Interest for Each Plan Rates of Interest for Each Plan
Karur Vysya Bank Happy Home Loan

8.95% - 11.00% per annum

Karur Vysya Bank Gruhapravesh Home Loan for NRI

8.95% - 11.00% per annum

Karur Vysya Bank Top-Up Loan

9.20% - 10.55% per annum

Karur Vysya Bank Home Loan Interest Rates for Balance Transfer, Top Up and Overdraft

Karur Vysya Bank knows how to make it more convenient for the customers applying for home loans, and for this, it offers three flexible options mentioned below:

Karur Vysya Bank Home Loan Balance Transfer

The Karur Vysya Bank Balance Transfer home loan scheme allows existing home loan borrowers to switch to KVB at a lower interest rate. It is a scheme that comes with improved loan terms and cost savings. The rate of interest for Karur Vysya balance transfer housing loan starts at 8.95% p.a.

Karur Vysya Bank Home Loan Top-Up

Karur Vysya Bank offers an additional loan facility in the form of a top-up plan to existing home loan customers. Through these plans, customers can easily borrow some more money on top of their existing loan amount. KVB top-up home loan interest rate starts at 9.20% per annum.

Karur Vysya Bank Home Loan Overdraft Option

The third interesting and useful option comes in the form of the Karur Vysya Bank overdraft facility. It is an excellent way to extract more funds apart from the home loan amount to manage other financial expenses. The KVB OD scheme also comes with an interest rate starting at 8.95% per annum.

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Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (7)

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Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (8)

Compare Karur Vysya Bank Home Loan Interest Rate with Top Banks

If you have already decided to apply for a Karur Vysya Bank home loan, go ahead. In case you are still not so sure, then we suggest you compare the interest rate of KVB and its processing fee with other competitor banks and non-banking financial companies to make an informed decision:

Bank/NBFC Rate of Interest on Home Loan Processing Fee
Karur Vysya Bank 8.95% p.a. onwards Rs. 2,500 - Rs. 7,500 + GST
Bank of Baroda 8.40% p.a. onwards Nil
LIC HFC 8.50% p.a. onwards Up to 0.25% (Maximum: Rs. 25,000)
Bajaj Housing Ltd. 8.50% p.a. onwards Up to 7.00% of the loan amount + GST
Kotak Mahindra 8.75% - 9.60% p.a. 0.5% - 1.0% of the loan amount + taxes
Tata Capital Ltd. 8.95% - 12.00% p.a. Up to 0.25% (Maximum: Rs. 3,540)

Karur Vysya Bank Home Loan Balance Transfer Interest Rates

KVB is a customer-centric bank that aims to offer financial assistance to new and existing customers. One such scheme through which the bank tries to help these customers is by providing them with a flexible option to shift their existing home loan amount to KVB at a better interest rate under its home loan balance transfer scheme.

Karur Vysya Bank's home loan transfer interest rate begins at 8.95% per annum. It is a brilliant opportunity to secure a lower interest rate on a home loan. Please go through the following steps to apply for a KVB balance transfer loan scheme:

  1. Visit the Repay Right Section on the official website of the BASIC Home Loan - Repay Right
  2. Fill in the key details asked in the form, such as the accurate information about the outstanding loan amount, the ongoing loan repayment tenure and rate of interest per annum, the existing new EMI you pay on the home loan amount, and the new rate of interest per annum
  3. Proceed ahead by clicking on “Next” by entering the essential details in the online form
  4. The next page on display will acquaint you with your overall savings on the Karur Vysya Bank Home Loan Balance Transfer Scheme
  5. The other easy option is to contact the BASIC Home Loan team to learn in detail about the KVB home loans and apply for one
Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (9) Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (10) Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (11) Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (12)
Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (13)

Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (14)

Get Home Loan Starting at 8.5% Interest Rate from BASIC Home Loan

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How to Calculate Karur Vysya Bank Home Loan Interest Rates?

Do not get confused thinking about how much EMI is payable every month on a Karur Vysya Bank home loan. Simply use the shortcut that comes in the form of an online EMI calculator available atEMI.Plan your finances better using this online EMI calculator. Have a look at the detailed table below to understand the monthly EMI for different tenure for a KVB housing loan:

Karur Vysya Bank Home Loan EMI Calculator 2024

Loan Amount Rate of Interest EMI for 10-Year Loan Tenure EMI for 20-Year Loan Tenure EMI for 30-Year Loan Tenure
Rs. 10 lakh 8.95% p.a. Rs. 12,641 Rs. 8,965 Rs. 8,010
Rs. 20 lakh 8.95% p.a. Rs. 25,281 Rs. 17,930 Rs. 16,021
Rs. 30 lakh 8.95% p.a. Rs. 37,922 Rs. 26,895 Rs. 24,031
Rs. 40 lakh 8.95% p.a. Rs. 50,562 Rs. 35,861 Rs. 32,041
Rs. 50 lakh 8.95% p.a. Rs. 63,203 Rs. 44,826 Rs. 40,051
Rs. 60 lakh 8.95% p.a. Rs. 75,843 Rs. 53,791 Rs. 48,062
Rs. 70 lakh 8.95% p.a. Rs. 88,484 Rs. 62,756 Rs. 56,072
Rs. 80 lakh 8.95% p.a. Rs. 1,01,124 Rs. 71,721 Rs. 64,082
Rs. 90 lakh 8.95% p.a. Rs. 1,39,361 Rs. 1,11,460 Rs. 1,06,140
Rs. 1 crore 8.95% p.a. Rs. 1,26,405 Rs.89,651 Rs. 80,103

Disclaimer:

You just went through an estimated EMI payable on home loan at 8.95% p.a. interest rate offered by the Karur Vysya Bank. Remember, this is subject to change depending on the change in the rate of interest and other market conditions.

FAQ's

Although Karur Vysya Bank has no specific credit score requirement for home loans. It would be easier for any applicant with a minimum credit score of 750 to get home loan approval from the bank.

The home loan repayment holiday period of the moratorium period refers to the time period between the loan disbursement and the commencement of the loan repayment. Karur Vysya Bank's repayment holiday period is up to 24 months.

The maximum loan repayment period offered by Karur Vysya Bank on housing loans is up to 25 years.

Karur Vysya Bank home loans are available on a floater and fixed rate basis. Floater rate basis means fluctuating interest rates and fixed rate basis means the interest rate is fixed throughout the tenure.

To apply for a home loan from Karur Vysya Bank, an applicant must be between the ages of 23 and 65 and an Indian citizen with a decent credit score. A person has to be either salaried or self-employed when applying for a home loan from Karur Bank. KVB also offers home loans to NRIs and PIOs.

To check the KVB home loan status, a person can call their toll-free number 1860 200 1916. Alternatively, you may also check the status online by visiting the official website of Karur Vysya Bank.

As a seasoned financial expert with an in-depth understanding of the banking and home loan industry, I can confidently provide insights into the concepts mentioned in the article about Karur Vysya Bank home loans.

Karur Vysya Bank Home Loan Overview: The article discusses the home loan offerings from Karur Vysya Bank, emphasizing the ease of obtaining a home loan with instant approval for eligible applicants having a good CIBIL score.

Key Information:

  1. Interest Rates:

    • The home loan interest rate starts at 8.95% per annum.
    • Top-up plan interest rate begins at 9.20% per annum.
  2. Processing Fees:

    • Rs. 2,500 for home loans up to Rs. 25 lakhs.
    • Rs. 5,000 for loan amounts between Rs. 25 lakhs and Rs. 50 lakhs.
    • Rs. 7,500 for loan amounts over Rs. 50 lakhs.
  3. Loan Tenure:

    • Borrowers can repay the home loan amount in up to 25 years.
  4. Eligibility and Highlights:

    • Loan amount: Up to 90% of the property value.
    • Rate of interest: 8.95% p.a. onwards.
    • Processing fees: Rs. 2,500 - Rs. 7,500 + GST.
    • Maximum tenure for loan repayment: 25 years.

Different Loan Categories:

  1. Rates for Salaried and Self-Employed:

    • Salaried applicants: 8.95% per annum onwards.
    • Self-employed applicants: 8.95% per annum onwards.
  2. Gruhapravesh Home Loan for NRIs:

    • Interest rates range from 8.95% to 11.00% per annum.
  3. Top-Up Loans Interest Rates:

    • Top-up for customers: 9.20% - 10.55% per annum.

Home Loan Schemes: Karur Vysya Bank offers three types of home loan schemes with varying interest rates:

  1. Happy Home Loan: 8.95% - 11.00% per annum.
  2. Gruhapravesh Home Loan for NRI: 8.95% - 11.00% per annum.
  3. Top-Up Loan: 9.20% - 10.55% per annum.

Flexible Options:

  1. Home Loan Balance Transfer:

    • Allows existing borrowers to switch to KVB at a lower interest rate.
    • Interest rate starts at 8.95% p.a.
  2. Home Loan Top-Up:

    • Offers an additional loan facility for existing customers.
    • Top-up home loan interest rate starts at 9.20% p.a.
  3. Home Loan Overdraft Option:

    • Provides an overdraft facility for additional funds.
    • Overdraft interest rate starts at 8.95% p.a.

Comparison with Other Banks: The article suggests comparing KVB's home loan interest rates and processing fees with other banks for an informed decision.

Home Loan Balance Transfer: The bank facilitates a balance transfer scheme with a lower interest rate, starting at 8.95% p.a.

Calculating EMI: The article recommends using an online EMI calculator to plan finances. It provides a table with estimated EMIs for different loan amounts and tenures at an interest rate of 8.95% p.a.

Frequently Asked Questions (FAQs): The article addresses common queries related to credit score requirements, repayment holiday period, maximum loan repayment period, loan types (floater and fixed rate), and eligibility criteria.

In conclusion, Karur Vysya Bank offers a comprehensive range of home loan products with competitive interest rates and flexible options, making it an attractive choice for prospective homebuyers.

Check Karur Vysya Bank Home Loan Interest Rates 2024 & EMI Calculator Online (2024)
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