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.

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.