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Karnataka Bank Home Loan in Chennai

Karnataka Bank Home Loan in Chennai

Last Updated : April 26, 2017, 5:27 p.m.

About Karnataka Bank Home Loan Chennai

Karnataka Bank provides eligible customers based in the city of Chennai a home loan so that they can build a home of their dreams. Building a house tops the list for many people. Your house is the place where you can relax after a long day at work or hold parties for your friends. Buying a home is regarded as an investment which you make once but you cherish it for your entire life. The product is available at attractive interest rates and any salaried employee or self-emplpyed person can avail it. Karnataka Bank has set up more than 20 branches in Chennai.

Karnataka Bank Home Loan Chennai at a glance

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

Interest Rate9.08% - 10.35%
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 Chennai

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 m inimum 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 m inimum 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 Chennai

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)

Read Home Loan Chennai for more information.

Address of Karnataka Bank branches in Chennai

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 CodeMICRContact Details
R A Puram Chennai77, Greenways Road, Raja Annamalai Puram, Chennai 600028KARB00001506000520091800 425 1444
Porur Chennai3 BY 13, Mount Poonamallee High Road, Porur, Chennai 600116KARB00001526000520101800 425 1444
Besant Nagar ChennaiT 32, A BY B, 7TH Avenue, Besant Nagar, Chennai 600090KARB00001566000520111800 425 1444
K K Nagar ChennaiDNO 10 P T Rajan Salai K K Nagar Chennai 600078KARB00001576000520121800 425 1444
Chennai MogappairOld No. 402, New No. 78, Panneer Nagar, Thiruvalluvar Road, MogappairKARB00001586000520131800 425 1444
Chennai AyanavaramNo.4 Old No.22, 3rd Cross Street, Venkatesapuram Colony, Ayanavaram, Chennai 600023KARB00001596000520141800 425 1444
West MambalamNo12, 2nd Street, Chennai West Mambalam, Chennai 600033KARB00001616000520151800 425 1444
GT Chennai TC Street324, TC Street, Pb 1612, Chennai 600001KARB00004626000520021800 425 1444
Mount Road Chennai839, Mount Road, Pb2710, Chennai 600002KARB00004636000520041800 425 1444
Cathedral ChennaiNO 351, Avvai Shanmugam Lloyds Road, Gopalapuram, Chennai 600086KARB00004646000520061800 425 1444
Triplicane Chennai132 A, Triplicane High Road, Chennai 600005KARB00004886000520051800 425 1444
Anna Nagar ChennaiW123, 3RD Avenue, Annanagar, Chennai 600040KARB00004916000520081800 425 1444
Mint Street ChennaiD NO311, 1ST Floor, Mint Street, Sowcarpet, Chennai 600003KARB00004946000520031800 425 1444
Kodambakkam ChennaiD NO68, 2ND Main Road, United India Colony, Kodambakkam, Chennai 600024KARB00004966000520071800 425 1444
Service Branch ChennaiP.B.NO. 4906, Vadiraja Building, Door No. 351, 2nd Floor, Avvai Shanmugam Road, Gopalapuram Chennai - 600086KARB00001556000520011800 425 1444
Tambaram11/19, Elumalai Street, West Tambaram, Chennai - 600045KARB00007716000520161800 425 1444
Anna Nagar WestGround Floor, W - 582, Sboa School Road, Annanagar West Extension, Chennai - 6000101KARB00001626000520181800 425 1444
VelacheryD/NO-3, PLOT NO.14, Shashi Nagar, Velachery Bye Pass Road, Velachery - 600042, Guindy Taluk, Chennai Dist.KARB00001636000520191800 425 1444

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