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Karur Vysya Home Loan Interest Rates 2021

Karur Vysya Bank Housing Loan Interest Rate -Today

Last Updated 09th Jul 2021

Current Karur Vysya Bank Home Loan interest rates Jul 2021 starts at 7.35% p.a. for a maximum tenure of 25 years. The processing fee on its housing loans is Minimum ₹ 5,000 .

Loan AmountKarur Vysya Bank Repo Rate Home Loan Rate
Upto ₹ 25 Lakh7.35%
₹ 25 Lakh - ₹ 1 Cr7.35%
₹ 1 Cr - ₹ 3 Cr7.35%
Above ₹ 3 Cr7.35%
Apply for Home Loan @ 6.65%* Get upto ₹ 1,000* Cashback

Current Karur Vysya Bank Home Loan Rate

Today Karur Vysya Bank home loan interest rates are in the range of 7.35% to 9.55%, with special discounted rates for specific categories of borrowers such as women borrowers for whom the bank offers the lowest interest rate of 7.35%.

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 Loan7.35% - 9.55%

Karur Vysya Home Loan Interest Rates for Salaried and Self Employed

The home loan interest rates in Karur Vysya for salaried & non-salaried employee is mentioned in the table below:

Home Loan Interest Rate for Salaried

Loan Amount Rate
Upto ₹ 25 Lakh 7.35%
₹ 25 Lakh - ₹ 1 Cr 7.35%
₹ 1 Cr - 3 Cr 7.35%
Above ₹ 3 Cr 7.35%

Home Loan Interest Rate for Self-Employed

Loan Amount Rate
Upto ₹ 25 Lakh 7.35%
₹ 25 Lakh - ₹ 1 Cr 7.35%
₹ 1 Cr - 3 Cr 7.35%
Above ₹ 3 Cr 7.35%

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
Foreclosure Charges Nil for floating rate home loans

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 lowest home loan balance transfer rate of 7.35%.

Illustration on Home Loan Interest Rate Karur Vysya Bank
Maximum Annual Percentage Rate (APR) 7.35% to 9.55%
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: 7.35% to 9.55%
  • Processing Fee payable to: NIL
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 729 for 25 Years ₹ 1,00,000 loan at 7.35% (lowest rate, longest time period) to ₹ 2,103 for 5 Years ₹ 1,00,000 loan at 9.55% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 7.35% to 9.55%
  • Total cost payable over loan tenure: ₹ 1,19,800 for 5 Years loan to ₹ 2,18,778 for 25 Years loan

FAQs

What is Karur Vysya Home Loan Interest Rate?

Karur Vysya Home Loan interest rate ranges between 7.35% to 9.55%. The salaried borrowers with high credit score and income are eligible to get lower interest rates.

Has Karur Vysya reduced home loan rates?

As per the current rates, Karur Vysya has cut its home loan rates by 0.1% from 7.45% to 7.35%, which is one of the best rates in the market. The new rates are effective from 01 Apr, 2021.

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

Karur Vysya Bank offers lowest Home Loan EMI of ₹ 729 per lakh availed at the lowest interest rate 7.35% for a maximum tenure of 25 years. you are paying an EMI more than ₹ 729 per lakh, you should consider the option for a loan transfer to Karur Vysya Bank from your existing bank.

  • Karur Vysya Bank offers RBI Repo Rate linked Home Loan which starts at 7.35%. Current Repo Rate of RBI is 4.00%. The Bank adds a mark up on RBI’s repo rate which is called Karur Vysya Bank Repo Rate Linked Lending Rate (RLLR). RLLR can change with change in Repo Rate. An additional spread is applied on RLLR which remains the same throughout the tenure. Bank applies a premium of 3.35% to the Repo Rate to arrive at this rate.
  • When RBI increases rates, the bank may increase its Repo Rate linked Home Loan rates by the same basis points for all existing and new Home Loans. When RBI cuts interest rates, the Karur Vysya Home Loan interest rates will reduce the interest rates by the same basis points, which will be effective from the 1st day of the following month.
  • For instance, if RBI slashes Repo Rate by 0.15%, then Karur Vysya Bank Repo Rate linked Home Loan rate will cut from 7.35% to 7.2%.

What is the current Karur Vysya Bank Home Loan rate?

The current Karur Vysya Home Loan rate starts from 7.35% with a processing fee of Minimum ₹ 5,000.Karur Vysya housing loan rate varies across the applicant’s eligibility and the scheme they opt for. Karur Vysya offers different home loan rates for different home loan products.

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.

What are the interest rates of home improvement loans in Karur Vysya?

You can avail of Karur Vysya home loans for home improvement at regular home loan rates starting at 6.65%.

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

Karur Vysya home loan rates change for the existing customers if they have availed 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 7.35%, the home loan interest rate for women starts at %.

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

Karur Vysya home loan varies as per the loan amount. For home loan upto ₹ 25 Lakh, Karur Vysya provides home loan interest rate starting at 6.65%.

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 rate. In the case of the fixed rate, the interest remains the same whereas in the case of the floating rate the home loan rates keep varying according to the market.


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

I took home loan from KVB. The interest rate was average. Bank people was very helpful.Read more...

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Karur Vysya Bank Home Loan News - Jul 2021
  • 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.
  • 2018-10-31 : Karur Vysya Bank clocks 11% rise in Q2 net profit
    Karur Vysya Bank has clocked 11% in its standalone net profit at Rs 84 crore for the quarter ended September against Rs 76 crore in the previous year. Net interest income stood at Rs 579 compared to Rs 555 crore in the same period last fiscal with a slow loan growth of 7% year on year. Provisions and contingencies fell sharply at Rs 213 crore.
*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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