Karnataka Bank Home Loan in Ahmedabad

About Karnataka Bank Home Loan Ahmedabad

Ahmedabad is a leading city in India and that is the reason so many people want to set their abode here. It is a dream come true when you buy your own house. Buying a house in today’s time requires a good amount of money. Karnataka Bank provides a home loan product to the people living in the city at low rate of interest. The product is apt when it comes to purchasing or constructing a house. It can be even used for renovating or repairing an existing home. The affordable monthly EMIs has made the bank’s product one of the most demanded in the market. The product can be availed by both salaried employees and self-employed people. Karnataka Bank has opened two branches in the city of Ahmedabad.

Karnataka Bank Home Loan Ahmedabad at a glance

The essential details about the product offered by Karnataka Bank have been given below.

ParticularDetails
Interest Rate8.70% - 9.10%
Amount60 times of the monthly net salary or 5 times of the current year net income or maximum up to ₹5 crore for purchase or construction of house.

Up to 80% of the registration value of the site or maximum of ₹50 lakh for purchase of housing site.

Up to 75% of the estimated cost of asset for the re-furnishing of the house.
TenureUp to 30 years for purchase or construction of house.
Processing Fees0.50% of the sanctioned loan amount
Prepayment FeesAs per Bank’s guidelines

Eligibility Criteria for Karnataka Bank Home Loan Ahmedabad

The norms of eligibility for a home loan offered by the bank have been mentioned below. Check them out.

  • The age of the applicant should be at least 21 years and above. This means the applicant should have obtained the age of 21 years when the loan is applied.
  • Salaried individuals, Self- employed, Agriculturist and Non- Resident Indians are eligible to apply for a  Karnataka Bank home loan.
  • In the case of salaried employees, the minimum monthly income should be ₹ 10,000. For others, the minimum annual gross income should be ₹ 1,20,000.
  • In the case of an NRI, the minimum monthly income for a salaried individual should be ₹40,000. For others, the minimum annual gross income should be ₹ 4,80,000.

Documents required for Karnataka Bank Home Loan Ahmedabad

The list of important documents required for a home loan offered by Karnataka Bank has been given below.

  • Loan Application with passport size photograph of applicant/guarantor
  • Identity proof- Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible)
  • Residence proof- Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy.
  • Signature proof- Passport/ PAN Card
  • Processing fee cheque
  • Detailed cost estimate/valuation report from Bank’s Panel Chartered Engineer/Architect
  • Allotment letter of Co-operative Housing Society/ Apartment Owners’ Association/Housing Board/NOC from the Society/Association/Builders/Housing Board
  • Legal Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary
  • Last 3 months Salary Certificate and Form No.16/ITR for last 3 years (in case of salaried persons)
  • IT Returns filed for the past three years (in case of non-salaried persons)
  • Educational qualification certificate and the Proof of business existence (in case of self-employed businessmen or professionals)
  • Balance Sheet and P&L Account for the past three years (in case of self-employed businessmen or professionals)

For more details, please refer to Home Loan Ahmedabad.

Address of Karnataka Bank branches in Ahmedabad

The complete list of Karnataka Bank branch in the city has been given here along with the address, contact details and IFSC & MICR codes.

Branch NameAddressIFSC CodeMICR Contact Details     
Ahmedabad Main SarangpurShri Ghantakarna Mahavir Commercial Market, Sarangpur 380002KARB00000213800520021800 425 1444
Memnagar AhmedabadRaj Plaza Complex, Gurukul Road, Memnagar, Ahmedabad 380052KARB00000263800520031800 425 1444

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