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Karur Vysya Home Loan Interest Rates 2022

Karur Vysya Bank Housing Loan Interest Rate -Today

Last Updated 09th Dec 2021

Loan AmountKarur Vysya Bank Repo Rate Home Loan Rate
Upto ₹ 25 Lakh7.15%
₹ 25 Lakh - ₹ 1 Cr7.15%
₹ 1 Cr - ₹ 3 Cr7.15%
Above ₹ 3 Cr7.15%
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Karur Vysya Bank Home Loan Rate

Karur Vysya Bank offers home loans to both salaried individuals and self-employed at a minimum rate starting at 7.15% up to 9.35%. Apart from the interest rate, the bank also has various other charges such as Karur Vysya Bank processing fee - that is charged over and above the loan amount, is non-refundable and has to be paid at the time of loan application and foreclosure and prepayment fee for closing or prepaying the loan before the loan tenure ends.

Karur Vysya Bank Home Loan Processing Fee and Other Charges

Karur Vysya Bank charges a minimum processing of ₹ 5,000 on home loan which is typically non-refundable and has to be paid at the time of loan application. In addition to processing fees, the bank also charges certain technical and legal charges which are explained to the customer during the loan process and are payable once the loan application proceeds further.

Processing Fees minimum processing fee of ₹ 5,000
Part Prepayment Charges Allowed
Foreclosure Charges Nil for floating rate home loans

Interest rates on Karur Vysya Home Loans Schemes

Karur Vysya Bank offers a housing loan interest rate at 7.15%. If you want to avail of the home loan at the lowest rates, you should have a good CIBIL score, debt-income ratio and repayment capacity. In addition, Karur Vysya Bank home loan interest rates are lower for existing customers of the bank and individuals who are working with reputed corporations with a stable employment history.

Below-mentioned are Karur Vysya Bank home loan rates for multiple housing schemes.

Karur Vysya Bank Home Loan Scheme Interest Rates
Karur Vysya Bank Repo Rate Home Loan7.15% - 9.35%

Karur Vysya Home Loan Interest Rate for Salaried and Self-Employed

The home loan interest rates in Karur Vysya for salaried and self-employed is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 25 Lakh 7.15%
₹ 25 Lakh - ₹ 1 Cr 7.15%
₹ 1 Cr - 3 Cr 7.15%
Above ₹ 3 Cr 7.15%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 25 Lakh 7.15%
₹ 25 Lakh - ₹ 1 Cr 7.15%
₹ 1 Cr - 3 Cr 7.15%
Above ₹ 3 Cr 7.15%

Karur Vysya Bank Home Loan Interest Rate For Women & Govt Employee

Loan Amount Karur Vysya Home Loan Rate For Women Karur Vysya Home Loan Rate For Govt Employee
Upto ₹ 25 Lakh 7.15% 7.15%
₹ 25 Lakh - ₹ 1 Cr 7.15% 7.15%
₹ 1 Cr - 3 Cr 7.15% 7.15%
Above ₹ 3 Cr 7.15% 7.15%

Karur Vysya Home Loan Balance Transfer Interest Rates

Karur Vysya Bank home loan balance transfer facility is ideal for existing home loan customers, who are paying high interest to their existing lender. Through this facility, you can transfer your existing home loan to Karur Vysya Bank at a lower rate of interest, without closing the account. However, you do need to check the foreclosure charges that you have to pay to your existing lender if it is a fixed rate loan. Currently, Karur Vysya Bank offers the loan balance transfer rate of 6.50%.

Illustration on Home Loan Interest Rate Karur Vysya Bank
Maximum Annual Percentage Rate (APR) 7.15% to 9.35%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 5 Years to 25 Years
  • Karur Vysya Bank Home Loan Interest Rate: 7.15% to 9.35%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 716 for 25 Years ₹ 1,00,000 loan at 7.15% (lowest rate, longest time period) to ₹ 2,093 for 5 Years ₹ 1,00,000 loan at 9.35% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 7.15% to 9.35%
  • Total cost payable over loan tenure: ₹ 1,19,232 for 5 Years loan to ₹ 2,14,914 for 25 Years loan

FAQs

Has Karur Vysya reduced home loan rates?

As per the current rates, Karur Vysya has cut its home loan rates by 0.2% from 7.35% to 7.15%, which is one of the best rates in the market. The new rates are effective from 23 Jun, 2021.

Why should I opt for balance transfer to Karur Vysya Bank?

Karur Vysya Bank offers lowest Home Loan EMI of ₹ 716 per lakh availed at the lowest interest rate 7.15% for a maximum tenure of 25 years. If you are paying an EMI more than ₹ 716 per lakh, you should consider the option for a loan transfer to Karur Vysya from your existing bank. Current Karur Vysya balance transfer rate is 6.50%.

Can Karur Vysya Bank housing loan interest rate be negotiated?

Yes, if you have a good relationship with the bank and a high credit score, you can negotiate with Karur Vysya to lower the home loan rates. Apart from the home loan rates, you can also negotiate over the processing fee.

Can Karur Vysya revise the home loan interest rates for their existing customers?

Yes, Karur Vysya offers concessional rates to the existing customers, and you can negotiate with the bank to offer you the revised home loans at a floating rate of interest. The floating interest rates on home loans vary as per the change in market trends or in external benchmark rates such as the repo rate.

Does Karur Vysya offer a concessional home loan interest rate for women?

Yes, Karur Vysya offers special home loan interest rates for women. As against Karur Vysya home loan rates for male which is 7.15%, the home loan interest rate for women starts at %.

What is the Karur Vysya home loan rate of ₹ 25 Lakh for 15 years?

For home loan upto ₹ 25 Lakh, Karur Vysya provides home loan interest rate starting at 7.15%. However, you can get the lowest rates if you have a good relationship with the bank, work with top corporations, have a good CIBIL score and have stable income sources.

At what interest rate does an Karur Vysya employee get a home loan?

Karur Vysya offers concessional home loan rates of about 1% than the current home loan rates to Karur Vysya employees.

Is Karur Vysya Bank home loan a floating rate loan or fixed-rate loan?

Karur Vysya home loan is offered at both fixed and floating rates. In the case of the fixed-rate, the interest remains the same throughout the tenure. On the other hand, the home loan rates vary as per the market fluctuations for floating home loan rates.

What is the Karur Vysya home loan rate today ?

Karur Vysya home loan rate today is in the range of 7.15% to 9.35%.The bank also charges a processing fee of upto Minimum ₹ 5,000 of the home loan amount.

How much interest does Karur Vysya take on home loans?

The rate of interest on Karur Vysya home loans varies based on your eligibility, such as CIBIL score, age, repayment capacity, income etc. However, Karur Vysya home loan current interest rate 2021 are in the range of 7.15% to 9.35%.


Karur Vysya Bank Home Loan Reviews 3/5  by 1 customers
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Karur Vysya Bank Home Loan Availed in Dec-17

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Karur Vysya Home Loan News - Jan 2022
  • 2021-08-24 : Karur Vysya Bank revises the home loan interest rate
    Karur Vysya Bank has given some relief to the borrowers of home loan. Recently, they have reduced the interest rate by 0.15%. Now, a home loan is available at a minimum of 7.15% and a maximum of 9.35% pa.
  • 2021-06-01 : Karur Vysya Bank posted 24% growth in Q4 net
    Karur Vysya Bank posted a 24% rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The lender credit growth during the year was higher at 8.87% and gross advances reached Rs 52,820 crore.
  • 2020-07-30 : Karur Vysya Bank reported a net profit of Rs. 105.50 crore
    Karur Vysya Bank reported a 45% increase in net profit at Rs 105.50 crore in the first quarter ended June. The company has reported total income bolstered by retails loans like home, personal, gold, car and two-wheeler loans along with the Business and mudra loans of Rs.1693.23 crores during the period ended June 30, 2020, as compared to Rs.1803.15 crores during the period ended March 31, 2020.
  • 2020-01-07 : Karur Vysya Bank revised MCLR
    The overnight, one-month, three-months MCLR of Karur Vysya Bank is kept unchanged and stands at 8.30%, 8.40%, 8.55%, respectively. While six-months and 1 year MCLR is cut by 10 bps to 9% and 9.30%. The revised rates are in effect from 7 January 2020. The cut in MCLR will impact home loans and loans against property.
  • 2019-05-09 : Karur Vysya Bank keen to adopt digital innovation for ensuring customer satisfaction
    Karur Vysya Bank concentrates on accepting digital innovation for ensuring maximum customer satisfaction. Following this, the lender has implemented booking of all retail loans including housing loans and car loans under digital technologies wherein the loan borrowers can book a loan on their own in less than a minute. So far, the bank has launched nearly 24 products under retail loans category and five products under commercial category purely online including documentation.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
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