My uncle was planning to build a house at my native place in Karnataka and for that, he wanted to take a home loan. I did some research for him and found out that Karnataka Gramin Bank home loan interest rates are really attractive and they have a variety of home loan schemes. So, I suggested that he go through it. Loans are available to buy a house, build a house or flat, buy a site and build a house on it, and renovate or expand a house. I will share with you what I could find out about Karnataka Gramin Bank housing loan interest rates and the different loan schemes of the bank.
Get your dream home now by availing NoBroker’s Home Loans at a minimum interest rate Calculate how much your EMI is going to be using Nobroker’s EMI calculatorWhat is the home loan interest rate of Karnataka Gramin Bank?
| Type of Loan | Rate of Interest (p.a.) |
Housing Loans |
7.50% onwards |
Mortgage Loans |
Non-Salaried:13.00% onwards |
Salaried:11.00% onwards |
Karnataka Gramin Bank Home Loan Schemes
As I told you, there are a variety of loans that are offered by Karnataka Gramin Bank. They are given below:
Housing Loan
Loans can be used to buy a house that is less than 25 years old, purchase a site and build a house on it, build a house or flat, or renovate your own home.
It is permissible to assume liability.
The borrower must not be older than 55.
The repayment term can be up to 30 years, with a moratorium included.
The borrower can't be over 70 years of age when the credit matures.
Mortgage Loan
Loans can be profited for clinical, training, and marriage costs.
The total amount that can be borrowed is Rs. 2 crores.
The maximum margin is forty per cent.
Ten years is the tenure for repayment.
Housing Loan Plus (HL +)
Loans are available for medical and educational costs.
The loan can only be used by people who have previously obtained a housing loan from the bank.
The loan is available to anyone over the age of 65 who is 18 years old or older.
Rs. 10 lakh is the maximum loan amount that can be obtained.
There is a maximum repayment period of 70 years.
Home Cash Scheme
Loans can be used to pay for the house's furnishing, renovations, repairs, healthcare, marriage, and education.
The maximum loan amount is Rs. 15 lakh, and the minimum loan amount is Rs. 1 lakh.
The repayment period is up to ten years.
All-Purpose Mortgage Loan
The loan can be used by salaried individuals for speculation.
The maximum repayment term is seven years.
This is all you need to know about Karnataka Gramin Bank home loan interest rates.
Read More: Is Gramin Bank Nationalised Or Not?Your Feedback Matters! How was this Answer?
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Authors Of The Question
What is the Home Loan Interest Rate of Karnataka Gramin Bank?
Vaani
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1 Answers
1 Year
2023-04-17T11:24:09+00:00 2023-04-17T11:25:07+00:00Comment
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