Karnataka Bank Plot Loan (KBL-Ghar Niveshan)

Karnataka Bank Plot Loan Eligibility Criteria

The eligibility criteria for the KBL-Ghar Niveshan plot loan are as follows:

1. Resident Indian individuals
2. Non-Resident Indians with an Indian passport.
3. Minimum age: 21
4. The income criteria for resident Indians are as follows:
5. Salaried individuals: Rs.10,000 gross monthly salary
6. Self-employed individuals: Rs.1.2 lakh gross annual income
7. The income criteria for Non-Resident Indians are as follows:
8. Salaried individuals: Rs.40,000 gross monthly salary
9. Self-employed individuals: Rs.4.8 lakh gross annual income

Application Process for Karnataka Bank Plot Loan

To apply for the KBL-Ghar Niveshan plot loan, visit the nearest branch of Karnataka Bank.

Guarantee Required for Karnataka Bank Plot Loan

The mortgage of the residential plot that will be purchased with the plot loan serves as the loan's guarantee. In the absence of a third-party solvent guarantor, the spouse's guarantee is necessary wherever possible.

Maximum Loan Amount

The maximum loan amount that can be approved is 80% of the residential site's registration value. The maximum loan amount sanctioned for land in non-urban and non-metro areas is Rs.50 lakh, while it is Rs.75 lakh for land in urban and metropolitan areas. 

Loan Repayment Term

The maximum repayment tenure is 5 years or 60 months. While it is repaid on an Equated Monthly Instalment basis for the general populace, for agriculturists it is repaid yearly, including the interest paid yearly. 

Margin of Loan

The margin of loan for the KBL Ghar Niveshan is 20%.

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