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  • Karnataka Bank Home Loan

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  • Karnataka Bank offers different home loan schemes with interest rates start at 8.65% p.a. with a maximum tenure of 30 years and processing fees of 0.50% of the loan amount.

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    We found 1 Karnataka Bank Home Loan
    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    PA PL OTP
    8.80%- 9.20% Floating
    12,000 (inclusive of GST) One-Time Fee
    20L - 5Crs
    1-30 Years
    What you'll love
    Documents
    Perks
    Fees & Charges
    Good to Know

    Karnataka Bank Home Loan Details

    Karnataka Bank home loans are available for salaried and self-employed individuals as well as for agriculturists.

    MCLR 9.25% p.a.
    Loan Amount Up to Rs.5 crore
    Processing Fees 0.50% of the loan amount
    Penal Interest Rate Contact the bank
    Prepayment/Foreclosure Charges Contact the bank
    Max Tenure 30 years
    Rate Packages Available Floating rate

    Karnataka Bank Home Loan Interest Rates

    Karnataka Bank’s home loans are linked to the Marginal Cost of Funds Based Lending Rate (MCLR).

    Karnataka Bank Home Loan Schemes Interest Rates
    KBL Apna Ghar 8.65% to 9.00% p.a.
    KBL Home Comfort 9.85% to 10.25%
    KBL Ghar Niveshan 14.30% p.a.

    Karnataka Bank Home Loan Schemes

    The following are the home loan schemes offered by Karnataka Bank:

    1. KBL Apna Ghar
      • For the construction or purchase of a flat or house
      • For repairs, remodel, or renovation of existing flat or house
      • Available for agriculturists too with repayment on yearly basis with yearly interest
      • Margin between 10% to 30%
      Interest Rate Processing Fees
      8.65% to 9.00% p.a. Contact the bank
    2. KBL Home Comfort
      • For the purchase of interior works, furnishing, lighting systems, solar heating of homes
      • Up to Rs.1 crore can be availed
      • Finance for up to 75% of the cost of work to be carried out or assets to be purchased
      Interest Rate Processing Fees
      9.85% to 10.25% p.a. Contact the bank
    3. KBL Ghar Niveshan
      • For the purchase of a site for house construction
      • Finance of up to Rs.80% of the registration value
      • Tenure of up to 5 years
      Interest Rate Processing Fees
      14.30% p.a. Contact the bank

    Karnataka Bank Home Loan EMI Calculator to Know Your EMI

    The BankBazaar Home Loan EMI Calculator will give you a detailed analysis of how much your EMI will be when you take a loan from Karnataka Bank. Just enter your desired loan amount, interest rate, processing fee, and tenure in the relevant fields. An accurate figure for your EMI, total interest payable, and total repayment will then be generated. You can also enter a pre-payment amount, if you plan to make one, to know how much your total repayable amount will be and the corresponding tenure.

    Karnataka Bank Home Loan Eligibility Criteria

    The eligibility criteria for Karnataka Bank home loans is as follows:

    Eligibility Parameters Eligibility Criteria
    Type of Employment Salaried, self-employed, agriculturists
    Nationality Resident and Non-Resident Indians
    Income For Resident Indians:
    • Salaried: Minimum gross monthly income of Rs.10,000
    • Self-employed/professionals/entrepreneurs: Minimum gross annual income of Rs.1,20,000
    • Agriculturists: Minimum net annual income of Rs.1,20,000
    For Non-Resident Indians:
    • Salaried: Minimum gross monthly salary: Rs.40,000
    • Self-employed/professionals/entrepreneurs: Minimum gross annual income of Rs.4,80,000

    Documents Required for All Home Loan Applicants Under Karnataka Bank

    These are some of the documents required to avail a home loan from Can Fin:

    Parameters Documents Required
    Personal Documents Aadhaar Card Voter ID PAN card Passport
    Income Proof Salary slip Income tax returns of the previous year
    Property Documents Details of property

    Karnataka Bank Home Loan FAQs

    1. What are the factors that determine my eligibility for Karnataka Bank home loans?

      The major factors that determine your eligibility are your income and capacity for repayment. Other than this, your age, spouse’s income (if any), continuity of occupation, savings history, assets and liabilities, etc., are also evaluated to determine your eligibility.

    2. What is the processing time for KBL home loans?

      The processing time ranges from 2 to 10 days.

    3. Is any security required for Karnataka Bank home loans?

      Yes, the security required is the security interest on the property that is financed.

    4. When does repayment of the principal amount start?

      The repayment of the principal amount starts from the month that follows the month in which full disbursement of the loan has been availed.

    5. What can I do to increase my eligibility if my income is not sufficient for the loan?

      You can increase your eligibility to meet the criteria of Karnataka Bank’s home loans by adding your family member’s income too, if they are earning members, as a co-applicant.

      

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    Karnataka Bank Home Loan Reviews

    • Karnataka Bank Home Loan
      "Very Good Service"
      0.5 5.0/5 "Blown Away!"
      I have taken home loan directly through Karnataka Bank.The rate of interest was 8.37% it was very less and there was no processing fee.This loan was sanctioned within 20 days .They have collected few documents like id proof address proof and income proof only since have salary account here.
      Was this review helpful? 1
      , surat
      Reviewed on Jan 16, 2020
    • Karnataka Bank
      Karnataka Bank Home Loan
      "Excellent Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a home loan in KARNATAKA bank before 2 months ago. The process was smooth and good at an initial verification. The amount was sufficient as per my expectation for the duration of 20 years. The rate of interest is nominal. The processing fee was applicable and nominal.
      Was this review helpful? 0
      , bangalore
      Reviewed on May 14, 2019
    • Karnataka Bank Home Loan
      "Excellent"
      0.5 4.5/5 "Excellent!"
      The services are really good in Karnataka Bank. The interest rate is fine and have no issues. The processing fee was nominal. I have purchased a residential property. They took almost one month to complete the process. The tenure is 20 years.
      Was this review helpful? 3
      , bangalore
      Reviewed on Apr 30, 2019
    • Karnataka Bank Home Loan
      "Completely Satisfied with their performance"
      0.5 5.0/5 "Blown Away!"
      Karnataka bank has done justice to me . Though I maintaining a salary account and saving account with other bank . They processed my housing loan in shorter period of time . I didn't face any problem with their interest rate and processing fees .
      Was this review helpful? 0
      , mumbai
      Reviewed on Apr 29, 2019
    • Karnataka Bank Home Loan
      "Try to give the loan amount as soon as possible"
      0.5 5.0/5 "Blown Away!"
      I am fine with the Karnataka Bank for providing a housing loan . Satisfied with the interest rate and processing fees . No complaints on their fees and interest charges . But their processing takes almost one month of time .It is slow process comparing with other banks .
      Was this review helpful? 0
      , kolkata
      Reviewed on Apr 28, 2019
    • Karnataka Bank Home Loan
      "Very delayed customer response"
      0.5 4.5/5 "Excellent!"
      karnataka bank take some extra amount of time in sanctioning my home loan . Since it is public sector bank I am not able to say anything about their customer service . Very slow in their process and sluggish work of almost one month . But at the same time , I got my expectation amount from them .
      Was this review helpful? 2
      , hyderabad
      Reviewed on Apr 28, 2019
    • Karnataka Bank Home Loan
      "GOOD"
      0.5 4.5/5 "Excellent!"
      There is no reason for taking the housing loan with the KARNATAKA BANK. The documentation process was simple and it took 1 month to get the loan home loan. The loan amount was good and the rate of interest was 8.85% which is nominal. The duration for repaying the loan is for 15 years approx.
      Was this review helpful? 2
      , chennai
      Reviewed on Apr 03, 2019
    • Karnataka Bank Home Loan
      "EXCELLENT"
      0.5 5.0/5 "Blown Away!"
      I have applied or the housing loan and i have taken it through the KARNATAKA BANK since i am an staff in that bank i get the rate of interest with this loan is 7% and the duration for repaying the loan is for 28 years. The documentation process was quick.
      Was this review helpful? 0
      , bangalore
      Reviewed on Mar 13, 2019
    • Karnataka Bank Home Loan
      "Worst experience on Karnataka Bank Home loan"
      0.5 0.5/5 "Unacceptable"
      We (me and my husband) approached Karnataka Bank for Home loan at Karwar Branch (in Karnataka) on October 2018 and our experience was terrible. It took them 2 long months to just decide on legal opinion which any other bank takes maximum a week's time. The bank directly asked us to contact the advocate and the bank was least involved in the whole process. The advocate for killing the time kept demanding for one after another document which delayed the process and at the end we were fed up with their tedious process and decided to back out. Finally, we got home loan from other bank within 2 weeks as we were both salaried person with proper property documents. Better think twice before approaching Karnataka Bank for home loan. You might not get it on the required time you need and the process is very tiring. Its simply a waste of time.
      Was this review helpful? 2
      , karwar
      Reviewed on Jan 06, 2019
    • Karnataka Bank Home Loan
      "Best Banking sevice"
      0.5 5.0/5 "Blown Away!"
      I got my housing loan from Karnataka bank . Am satisfied with rate of interest of 8.5%which is nominal one The customer service and response is good. It instant approval process just they took 10 days but they assured for the loan They gave good tenure period which i make the payment through ecs . Their customer service is good and responsive. There is no processing fees.
      Was this review helpful? 6
      , new delhi
      Reviewed on Sep 04, 2018
    • Karnataka Bank Home Loan
      "Best Service"
      0.5 4.5/5 "Excellent!"
      I have taken a home loan from Karnataka Bank and my loan experience was good. the loan amount was for Rs 17 lakhs with nominal interest rate when compared to other banks. There are no charges on preclosure and the customer service was good. The tenure period of this loan is 15 years.
      Was this review helpful? 4
      , new delhi
      Reviewed on Apr 17, 2018
    • Karnataka Bank Home Loan
      "Bad experience "
      0.5 3.0/5 "Satisfactory"
      I had a worst experience with Karnataka Bank. From Karnataka bank i have taken a home loan for 8 lakh with a high rate of interest. Actually I visited the bank for my status regarding the home loan . It had taken so much of time to get processed. I paid 10800 as EMI for 15 years. The processing fees for the approval was around 4000 and last 6 years there is no communication form bank side as well if they levied any additional charges.
      Was this review helpful? 3
      , ahmedabad
      Reviewed on Sep 06, 2017
    • Karnataka Bank Home Loan
      "Satisfied"
      0.5 5.0/5 "Blown Away!"
      Long back I had taken a housing loan from Karnataka bank. The loan amount is 75 lakhs with tenure of seven years. I almost completed the loan in 4 years and the pending amount is for 2.72, it will be done early. The current interest rate is 9.23%. The bank supported me a lot as I am a long term customer of them.
      Was this review helpful? 2
      , chennai
      Reviewed on May 22, 2017
    • Karnataka Bank Home Loan
      "Interest rate should be market competitive"
      0.5 3.0/5 "Satisfactory"
      I had taken a mortgage home loan from Karnataka bank, I pledged my property and got the principal amount of Rs.9 lakhs for a tenure of five years, but their interest rate was not competitive. Apart from that everything else is good and my loan would get compelted by July.
      Was this review helpful? 6
      , bangalore
      Reviewed on Apr 27, 2017
    • Karnataka Bank Home Loan
      "Good Service!!!"
      0.5 5.0/5 "Blown Away!"
      I have my salary account with Karnataka bank. It was okay with them.. I availed my home loan from this bank. Interest rate was marginally high, service was okay. They collected more documents since the bank was near to my office I was easy for me to submit all the required documents hence I had no issues. It took a months time to approve . They have to rationalize their interest rate and it should be competitive as per the market.
      Was this review helpful? 5
      , bangalore
      Reviewed on Sep 23, 2015
    • Karnataka Bank Home Loan
      "just okay"
      0.5 3.0/5 "Satisfactory"
      I got the housing loan with the karnataka bank.The rate of interest is really too high as 10.75%. The rate of interest is also fixed and I had it for the last 3 to 4 years.I would like to transfer the loan to the other financial institution.Apart from the rate of interest am happy with that.
      Was this review helpful? 3
      , pune
      Reviewed on May 30, 2015
    • Karnataka Bank Home Loan
      "Affordable charges.."
      0.5 4.0/5 "Great!"
      I have an account with Karnataka Bank so thought of going with the same bank for home loan as well. As compared to private banks interest rate is very low in Karnataka bank and figure of the rate is 10.15%, which is floating starts from first EMI. Moreover fee and charges are low as just I paid 2k.
      Was this review helpful? 2
      , bangalore
      Reviewed on May 20, 2015
    • Karnataka Bank Home Loan
      "It would be fine if processing fees could be lesser"
      0.5 3.0/5 "Satisfactory"
      Karnataka bank offers home loan with interest rate 10.75% which is at higher end. Processing fees is quite nominal Customer service is quite ok. It would be better if they could reduce interest rate it would be fine.
      Was this review helpful? 5
      , bangalore
      Reviewed on Jan 28, 2015
    • Karnataka Bank Home Loan
      "It would be fine if processing fees could be lesser"
      0.5 3.0/5 "Satisfactory"
      Karnataka bank offers home loan with interest rate 10.75% which is at higher end. Processing fees is quite nominal Customer service is quite ok. It would be better if they could reduce interest rate it would be fine.
      Was this review helpful? 10
      , bangalore
      Reviewed on Jan 28, 2015
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