The KVB NRI home loans are extended to various needs of Non-Resident Indians (NRI) as well as Persons of Indian Origin (PIO). You can avail the NRI home loan from Karur Vysya Bank for the purpose of purchasing a constructed house/construction of a house/home extensions/purchase land to construct a new house within six months/balance transfer from other banks.
|NRI Home Loan Interest Rates||9.55% p.a. (One Year MCLR)|
|Loan Tenure||25 years (Subject to the closure of the repayment of the loan by the age of 65 years or the retirement age, whichever is earlier)|
|Loan Amount||Rs.3 crore (margin of 20%)|
To avail the KVB NRI Home Loan, you’ll have to meet the following eligibility criteria set by the bank:
The required documents to apply for a KVB NRI Home Loan, you’ll have to contact the nearest branch of the bank to get more details.
The repayment of the KVB NRI home loan can be executed through remittances from abroad via regular banking channels.
You can transfer funds from NRE or FCNR or NRO account.
Home loans in Indian rupee availed by NRI/PIO can be repaid by a close relative of the applicant in India.
You can repay the NRI home loan availed through KVB through local sources after you return to India permanently.
KVB applies the rate of interest based on the daily diminishing balance method.
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