Kuchh Baat Aapke Interest Ki

Karur Vysya Home Loan Interest Rate Calculator - May 2017

Last Updated 11th May 2017

Karur Vysya Bank Home Loan Interest Rates

Interest Rate 9.90% - 9.90%
Check Best Offers
Lowest EMI Rs. 902 per lakh
Max Tenure 25 years
Prepayment, Foreclosure Charges Allowed with nil charges for floating rate loans
Age Min 21 and Max 60 years for Salaried
Min 21 and Max 65 years for Self Employed
Apply Home Loan @ 8.35%*
Rs.
Rs.
+91

Karur Vysya Bank Home Loan

Karur Vysya Bank offers home loan to the people who want money to purchase a house, home renovation and home extension etc. The house itself acts as a security to the loan.

Home Loan Karur Vysya

Home loan interest rates offered by Karur Vysya Bank depends upon MCLR.

  • Fixed rates allow you to borrow loan at a fixed price which won’t change in the whole tenure in case of change in MCLR rate and should be chosen only if you believe that the rates will not hike in future.
  • Floating rates changes with a single change in MCLR rate in your loan tenure. You should go for floating rates if you can take the risk of hike in interest rates.

Karur Vysya Bank offers home loan based on 1 Year MCLR rates which is currently 9.50%.

Karur Vysya Bank home loan interest rate depends upon

  • Loan amount: Home loan rate in Karur Vysya Bank depends upon the loan amount you apply for. Higher the loan amount, lesser will be the interest rate
  • Company where you work: Karur Vysya Bank has a list of companies to which they lend Home loan. Interest rate will be less if your company is listed
  • Your Salary: Income helps you in identifying your rate of interest. Karur Vysya Bank interest rate varies with your monthly income. Higher the income, less will the rate of interest

Home Loan Charges

  • Foreclosure Charges - These charges are to be paid in case you want to repay your entire loan amount before the end of tenure period. Karur Vysya Bank allows prepayment of home loan with Nil prepayment charges
  • Processing Fee - Karur Vysya Bank asks for a processing fee of 0.00% of loan amount with applicable service tax

Karur Vysya Home Loan EMI Calculator

Home Loan EMI of Karur Vysya Bank is a fixed amount that you pay each month towards the repayment of your home loan till the end of tenure

  • Home Loan EMI calculator of Karur Vysya Bank helps you to calculate your monthly EMI at different rate of interest and also check lowest EMI per lakh on home loan.
  • You can plan your loan amount according to your monthly repayment capacity because higher the loan amount, higher will be the EMI
  • Rate of interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as higher tenure reduces your EMI

What are the benefits of calculating Karur Vysya Bank Home Loan EMI?

  • EMI calculator of Karur Vysya Bank helps you to calculate your monthly EMI at different rate of interest
  • Karur Vysya Bank Housing Loan EMI calculator helps you to know your capacity to repay the loan after maintaining your standard of living
  • You get a rough idea about your monthly EMI and can plan your monthly budget accordingly

Karur Vysya Home Loan Eligibility Calculator

Home Loan eligibility criteria Karur Vysya Bank

Eligibility of House loan in Karur Vysya Bank relies upon different factors but the most important factor is your ability to repay the loan. The main factors on which the eligibility of an applicant depends are

  • Age: Age plays an important role to know your eligibility and repayment capacity. Karur Vysya Bank offers Home loan to salaried at the age of 21 to 60 years and self employed individuals at 21 to 65 years
  • Income: In case of salaried person, Karur Vysya Bank Loan eligibility significantly depends upon the income. Usually bank set minimum levels of income to apply for house loan. Salaried employee should be in government job or working with a reputed private company and getting regular salary in bank account with salary slip, form 16
  • Job stability and Profession: Job stability is important to improve your status and eligibility for Home loan from Karur Vysya Bank. Minimum turnover and minimum net income criteria may apply. Business must be registered with at least one government agency such as service tax, VAT, excise, shops and establishment registrar. Other than job stability, profession is also an important factor which can affect your Karur Vysya Bank eligibility. If you are working with a reputed company, probability of getting home loan from Karur Vysya Bank increases as the income is considered to be more stable
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your Home loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your Home loan eligibility
  • Loan Amount: Karur Vysya Bank gives you Home loan depending upon your income. Karur Vysya Bank gives you an amount ranging from Rs. 1,500,000 to Rs. 50,000,000. To improve chances of approval, apply for a loan amount that you can comfortably service

Karur Vysya Bank Floating Rate Home Loans

Karur Vysya Bank Home Loan Floating
Upto Rs. 2,500,000 - 9.90%
Rs. 2,500,001 - 10,000,000 - 9.90%
Rs. 10,000,001 - 30,000,000 - 9.90%
Above Rs. 30,000,000 - 9.90% linked to 1 Year MCLR

Karur Vysya Bank Home Loan Top up, Transfer

Transfer of Home Loan from another bank to Karur Vysya Bank?

Karur Vysya Bank offers home loan balance transfer from another bank. This is subject to your meeting other eligibility criteria of Karur Vysya Bank
You can avail additional top-up home loan from Karur Vysya Bank, subject to your eligibility

Housing Loan Karur Vysya documents required

Home Loan for Salaried employee Karur Vysya Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving Licence/ Voter ID/ PAN
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Income Documents – 6 months payslip, 2 years Form 16, 6 months bank statement showing salary credit and any EMI debit

Home Loan for Self-Employed Karur Vysya Bank documents required

  • Filled up loan application form
  • 2 Passport Size Photo
  • Identity Proof - Passport/ Driving License/ Voter ID/ PAN
  • ITR of last 1 years
  • Residential Address Proof - Leave and License/ Registered Rent Agreement/ Utility Bill (upto 3 months old), Passport
  • Business proof such as VAT/ service tax registration, incorporation details in case of companies, business address proof, profit and loss account and balance sheets certified by CA, copy of partnership deed and proof of business existence and business profile

Frequently Asked Questions

Why to take home loan from Karur Vysya Bank?

Karur Vysya Bank offers home loan at lower rate of interest i.e. at 9.90% with the lowest EMI of Rs. 902 per lakh. If you are paying EMI more than this then you can opt for balance transfer and relocate your home loan to Karur Vysya Bank.

What is the maximum loan tenure I can opt under Karur Vysya Bank house loan?

Karur Vysya Bank offers you a longer tenure of 25 years to repay your home loan with a benefit of paying less EMI per month.

Do I get tax benefit on home loan from Karur Vysya Bank?

As per Indian Income Tax Act of 1961, residents of India are eligible for tax benefits on principal amount and interest components of a home loan under the section 24 and section 80C of Income Tax Act.

Can I foreclosure my home loan? What are the charges applicable?

Yes, you can foreclose your home loan with Nil charges.

Can I transfer my home loan from another bank to Karur Vysya Bank?

Yes, Karur Vysya Bank gives you the facility to transfer your existing home loan with a hassle free process. Home loan balance transfer to Karur Vysya Bank offers you to pay lower EMIs and save money.

Can I club the income of my spouse with mine and apply for joint home loan?

You can club the income of your spouse to increase your loan eligibility if the spouse is co-owner of the property or guarantor of the loan.

What is the benchmark applicable for home loan in Karur Vysya Bank?

The benchmark applicable for home loan in Karur Vysya Bank is 1 Year MCLR.

What is the effect of part payments on Karur Vysya Bank housing loan EMI ?

Part payments help you in reducing the outstanding amount of loan which in turn will reduce the interest amount due. After making part payments, paying the same EMI will increase your involvement towards the principal amount which will help you in repaying the loan faster.

How to increase my eligibility on Karur Vysya Bank housing loan?

If your spouse or family member is earning well, you can make your spouse or family member the co-applicant for your loan. The combination of both of your income will help you in increasing your eligibility to get loan.

How will interest rate on Karur Vysya Bank housing loan change in future?
  • Floating interest rate on Karur Vysya Bank housing loan is linked to its 1 Year MCLR Rate, which is currently at 9.50%. So, when Karur Vysya Bank offers a home loan at 9.90%, it applies a premium of 0.4% to its MCLR Rate to arrive at this home loan interest rate.
  • When RBI increases interest rates, the bank may increase its MCLR rate and the applicable interest rate for all existing and new home loans would increase. When RBI cuts interest rates and the bank reduces the MCLR rate, the benefit of lower rates will have to be passed to both old borrowers and new house loan accounts.

Karur Vysya Home Loan in India

Karur Vysya Bank Home Loan Interest Rate Customer Care Number, Email, Application Status, Branches

City Customer Care Number
Agra 1860-200-1916
Ahmedabad 1860-200-1916
Ambala 1860-200-1916
Anand 1860-200-1916
Aurangabad 1860-200-1916
Bangalore 080-26623206
Bhilai 1860-200-1916
Bhilwara 1860-200-1916
Bhiwadi 1860-200-1916
Bhopal 1860-200-1916
Bhubaneswar Cuttack 1860-200-1916
Bikaner 1860-200-1916
Chandigarh 1860-200-1916
Chennai 044-24314418
Cochin 0422-2393986
Coimbatore 0422- 2393986
Dehradun 1860-200-1916
Delhi 011- 28714062
Durg 1860-200-1916
Faridabad 1860-200-1916
Gandhinagar 1860-200-1916
Ghaziabad 1860-200-1916
Goa 1860-200-1916
Greater Noida 1860-200-1916
Gurgaon 1860-200-1916
Guwahati 1860-200-1916
Gwalior 1860-200-1916
Hyderabad 040- 23206063
Indore 1860-200-1916
Jabalpur 1860-200-1916
Jaipur 1860-200-1916
Jalandhar 1860-200-1916
Jodhpur 1860-200-1916
Kanpur 1860-200-1916
Karnal 1860-200-1916
Kolhapur 1860-200-1916
Kolkata 033- 22900749
Kota 1860-200-1916
Kozhikode 1860-200-1916
Lucknow 1860-200-1916
Ludhiana 1860-200-1916
Madurai 0452-2604734
Meerut 1860-200-1916
Mehsana 1860-200-1916
Mohali Sas Nagar 1860-200-1916
Mumbai 022- 24367021
Mussoorie 1860-200-1916
Nagpur 1860-200-1916
Nashik 1860-200-1916
Noida 1860-200-1916
Noida Extn 1860-200-1916
Panipat 1860-200-1916
Patna 1860-200-1916
Pondicherry 1860-200-1916
Pune 1860-200-1916
Raipur 1860-200-1916
Rajkot 1860-200-1916
Ranchi 1860-200-1916
Rohtak 1860-200-1916
Roorkee 1860-200-1916
Salem 0427-2440075
Shimla 1860-200-1916
Sonepat 1860-200-1916
Surat 1860-200-1916
Trichy 0431- 2412459
Udaipur 1860-200-1916
Vadodara 1860-200-1916
Varanasi 1860-200-1916
Vijaywada 0866-2485703
Vizag 1860-200-1916
MyLoanCare
Check
Lowest EMI
Check
Home Loan Eligibility
*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. MyLoanCare is an independent professional service provider and is not related to the government or government bodies or any regulator or any credit information bureau in any way. Information carried at this website is not and should not be construed as an offer or solicitation or invitation to borrow or lend. The Company does not undertake any liability with respect to the correctness of the content, information and calculations. Information is subject to change without notice. By submitting your query or using any tools or calculators, you authorize MyLoanCare to share your information with lender(s), consent for such lender(s) to access your credit information report and contact you regarding your query overriding your number being in National Do Not Call Registry. This is a free service and no charges are payable by the borrower to MyLoanCare. The Company may receive remuneration from lenders for services provided to them.
;