Kerala Grameena Bank Home Loan
Kerala Grameena Bank helps you achieve your dream home with attractive home loan options, offering the rate of interest starting from 7.35% p.a. This home loan scheme covers purchase, construction, or renovation of houses and flats and even for purchase of second property.
What are the Purposes of Kerala Grameena Bank Home Loan?
Applying for Kerala Grameena Bank home loan fulfils the following purposes:
- Purchase of residential property
- Construction or extension of residential property
- Purchase of a ready-to-move-in flat
- Home loan for purchase of second property, such as a house or flat.
- For undertaking repairs, extensions, creation of additional amenities, renovation, up - gradation, etc.
Features of Kerala Grameena Bank Home Loan
The key features of Kerala Grameena Bank home loan are listed in the table below:
Loan Features | Details |
Limit | Residents: Fivetimes of annual incomeNRI: Four times of annual income |
Margin | 20% of the total cost |
Security | Equitable Mortgage of landEither buildingsconstructed,to be constructed, orto bepurchasedby Bank Finance.The value of the property should be at least 125% of the loan limit. |
Repayment | Tenure upto 30yearsA repayment holiday of up to 18 months is offered. |
Interest Rate
The rate of interest offered under Kerala Grameena Bank home loan scheme as per credit score and loan amount are mentioned in the table below:
Loan Amount | CIBIL score | Rate of interest |
Up to Rs.10 lakh | 840 and more | 9.00% |
800 to 839 | 9.25% | |
750 to 799 | 9.50% | |
700 to 749 | 9.60% | |
650 to 699 | 9.75% | |
Score of -1, 1 to 5 For the following:PSU and Government employees irrespective of incomeProfessionals and NRE having average monthly gross income of Rs.1 lakh and more | 9.25% | |
-1, 1 to 5 for others | 9.60% | |
Rs.10,00,001 to Rs.25 lakh | 840 and more | 7.50% |
800 to 839 | 7.55% | |
750 to 799 | 7.65% | |
700 to 749 | 8.05% | |
650 to 699 | 8.50% | |
Score of -1, 1 to 5 For the following:PSU and Government employees irrespective of incomeProfessionals and NRE having average monthly gross income of Rs.1 lakh and more | 7.55% | |
-1, 1 to 5 for others | 8.05% | |
Rs.25,00,001 to Rs.50 lakh | 840 and more | 7.45% |
800 to 839 | 7.50% | |
750 to 799 | 7.60% | |
700 to 749 | 8.00% | |
650 to 699 | 8.45% | |
Score of -1, 1 to 5 For the following:PSU and Government employees irrespective of incomeProfessionals and NRE having average monthly gross income of Rs.1 lakh and more | 7.50% | |
-1, 1 to 5 for others | 8.00% | |
Rs.50,00,001 to Rs.1 crore | 840 and more | 7.40% |
800 to 839 | 7.45% | |
750 to 799 | 7.55% | |
700 to 749 | 7.95% | |
650 to 699 | 8.40% | |
Score of -1, 1 to 5 For the following:PSU and Government employees irrespective of incomeProfessionals and NRE having average monthly gross income of Rs.1 lakh and more | 7.45% | |
-1, 1 to 5 for others | 7.95% | |
Rs.1 crore and more | 840 and more | 7.35% |
800 to 839 | 7.40% | |
750 to 799 | 7.50% | |
700 to 749 | 7.90% | |
650 to 699 | 8.35% | |
Score of -1, 1 to 5 For the following:PSU and Government employees irrespective of incomeProfessionals and NRE having average monthly gross income of Rs.1 lakh and more | 7.40% | |
-1, 1 to 5 for others | 7.90% |
Note: To know more details about the service charges related to Kerala Grameena Bank home loan, contact the bank via customer care center or by visiting the branch.
Eligibility Criteria
The required eligibility criteria to apply for Kerala Grameena Bank home loan are mentioned below:
- Individuals and NRI must have regular income
- Age of the applicant shall not be more than 55 years
How to Apply for Kerala Grameena Bank Home Loan?
To apply for Kerala Grameena Bank home loan, visit the official bank website. Navigate to the ‘Personal Banking’ option and click on ‘Home Loans’. Click on ‘Apply Now’ to start the application procedure.
Contact Details of Kerala Grameena Bank Customer Care
To know more details about home loans or to report any issues, customers can contact the customer care centre of the Kerala Grameena Bank. The contact details are:
- Customer Care: 0497-2717800
- Toll-Free Number: 1800-425-4000
- Customer Care Email ID: customercare.kgb@keralagbank.com
- Email: kgbho.keralagbank.com
- Telephone: 0497 2717800
- Fax: 0483 2736987
Chief Customer Service Officer or Nodal Officer
Telephone: 0483 2735145
Email:
- customercare.kgb@keralagbank.com
- pdwing.kgb@keralagbank.com
Grievance Redressal Officer (GRO) NPS
- Phone: 0483 2735145
- Email: pdwing.kgb@keralagbank.com
FAQs on Kerala Grameena Bank Home Loan
- What are the interest rates for Kerala Grameena Bank home loans?
Kerala Grameena Bank offers interest rates ranging from 7.35% to 9.75% per annum, depending on the loan amount and the borrower’s credit profile.
- How much should the value of the property be to avail Kerala Grameena Bank home loan?
The property value should be 125% of loan limit under Kerala Grameena Bank home loan scheme.
- Does Kerala Grameena Bank offer a second home loan?
Yes, Kerala Grameena Bank offers a home loan for a second property, be it a house or a flat. However, approval depends on your repayment capacity, existing loan obligations, credit score, and the purpose of the loan.
- What happens if I miss an EMI payment for Kerala Grameena Bank home loan?
If you miss an EMI payment for your Kerala Grameena Bank home loan, then it may lead to late fees, penalties, and additional interest charges.
- What documents are required to apply for a home loan?
You need to submit identity proof, address proof, income documents (salary slips or financial statements), and property-related documents. Requirements may vary based on your employment type and loan category. To know about the documents required to apply for KGB home loan, contact the customer care.
Disclaimer
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