A "low interest" loan shouldn't mean you have very little interest in paying it back!
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.
| 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 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
The bank offers three schemes which are listed below:
| Interest Rate | Processing Fees |
|---|---|
| 9.70% p.a. | Contact the bank |
| Interest Rate | Processing Fees |
|---|---|
| 9.70% p.a. | Contact the bank |
| Interest Rate | Processing Fees |
|---|---|
| 9.70% p.a. | Contact the bank |
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.
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.
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:
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