A "low interest" loan shouldn't mean you have very little interest in paying it back!
  • Lakshmi Vilas Bank Home Loan

    Lakshmi Vilas Bank offers 3 types of home loan products to customers. Lakshmi Vilas Bank home loans come with floating interest rates starting from 9.70% p.a. and a minimum loan amount of Rs.3 lakh. You can apply for a maximum tenure of 20 years or 240 months.

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    Lakshmi Vilas Bank Home Loan Details

    Repo Rate 5.15%
    Loan Amount Minimum: Rs.3 lakh
    Processing Fees Contact the bank
    Penal Interest Rate Contact the bank
    Prepayment/Foreclosure Charges Nil
    Max Tenure 240 months (20 years)
    Rate Packages Available Floating

    Lakshmi Vilas Bank Home Loan Interest Rates

    Lakshmi Vilas Bank offers home loan packages with floating interest rates based on the Repo Rate. The current Repo Rate is 5.15%. The bank’s operating expenses will be added to this rate to form the final interest rate offered.

    Lakshmi Vilas Bank Home Loan Scheme Interest Rate
    Lakshmi Home Loans 9.70% p.a.
    LHL Top-Up Loan 9.95% p.a.
    LHL – Overdraft 9.95% p.a.

    Compare: Home Loan Interest Rate all Banks

    Lakshmi Vilas Bank Home Loan Schemes and Offers

    The bank offers three schemes which are listed below:

    1. Lakshmi Home Loan (LHL)
      • Can be availed for purchase, construction, or repairs and renovation of homes.
      • Minimum loan quantum of Rs.3 lakh.
      • Loan tenures up to 20 years (240 months).
      Interest Rate Processing Fees
      9.70% p.a. Contact the bank
    2. LHL Top-Up Loan
      • Existing home loan customers who have made timely repayments for the last 12 months are eligible to apply.
      • Minimum loan amount of Rs.10 lakh and maximum amount of Rs.25 lakh.
      • Loan amount can be used for personal expenses including medical emergencies, wedding, child’s education, etc.
      Interest Rate Processing Fees
      9.70% p.a. Contact the bank
    3. Lakshmi Home Loan – Overdraft (OD)
      • Existing bank customers who maintain a minimum amount of Rs.5,000 in their CASA account (Current Account Savings Account) can apply for this loan.
      • Minimum loan amount of Rs.5 lakh.
      • Reduction in drawing power every month.
      Interest Rate Processing Fees
      9.70% p.a. Contact the bank

    Lakshmi Vilas Bank Home Loan EMI Calculator

    You can conveniently check your EMIs (equated monthly instalments) on the BankBazaar Home Loan EMI Calculator. You will have to enter certain loan-related details such as your loan amount, interest rate, tenure, and processing fees. Once you enter these details, you will see your EMI along with an amortisation table that gives you the breakup of your EMI into principle and interest payments. You will also know the total interest payable and the total loan repayment.

    There is also an option to add your prepayment schedule if you wish to make any during the course of your home loan. Once you add this information, you will receive a prepayment analysis. This analysis comprises your total repayable amount with and without prepayment along with your savings and reduced tenure upon making the prepayments.

    Lakshmi Vilas Bank Home Loan Eligibility Criteria

    When applying for a home loan from Lakshmi Vilas Bank, you need to meet certain eligibility criteria set by the bank. These include age, income, credit score, and more. These criteria and your eligibility for them will be determined solely at the discretion of the bank.

    Documents Required for Lakshmi Vilas Bank Home Loan Application

    All home loan applicants are required to submit specific documents to prove their eligibility for the home loan. Generally, the documents requested are as follows:

    • Identity proof documents – These include Aadhaar card, PAN card, passport, Voter’s ID, etc.
    • Address proof documents – These include utility bills, bank statements, Ration Card, etc.
    • Income proof documents – These include salary slips, company letter, IT returns, P&L statements, balance sheet, etc.
    • Property documents – These include sales deed, tax receipt, encumbrance certificate, etc.
    • Guarantor documents, if applicable.
      

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    Lakshmi Vilas Bank Home Loan Reviews

    • Lakshmi Vilas Bank Home Loan
      "Very Good Service"
      0.5 4.5/5 "Excellent!"
      The experience with this loan has been good and the loan amount which they had provided has been sufficient. The interest rate with them has been nominal when compared with the market rate and there has not been any sort of additional charges which has been made by them other than the processing fee.
      Was this review helpful? 1
      , salem
      Reviewed on Dec 04, 2018
    • Lakshmi Vilas Bank
      Lakshmi Vilas Bank Home Loan
      "Good Bank and Good Service"
      0.5 5.0/5 "Blown Away!"
      Couple of years back, I had taken the housing loan from Lakshmi Vilas Bank. The interest rate was 8.2% which is very nominal. Since I am a staff of the same bank, the process was very simple. I had not faced any issues with the bank during the loan process. I am completely happy with this bank.
      Was this review helpful? 2
      , coimbatore
      Reviewed on Jun 20, 2017
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