Karnataka Bank Home Loan in Mumbai

Last Updated : May 5, 2018, 3:04 p.m.

About Karnataka Bank Home Loan Mumbai

We all dream to live in our own house someday. People work so hard day in and day out because they want to buy a house which they can proudly call as theirs. And what a better thing than to have your own house in the city of dreams, Mumbai. Mumbai is the ultimate destination for so many people in the country. The city is known all the nation for its posh and well-developed areas like Juhu, Bandra, Powai, Goregaon, Andheri East, Oshiwara and so on. Living in the city is like a dream come true and the icing on the cake happens when you own a house in your name. Karnataka Bank has taken the initiative of providing wings to such dreams. The bank has opened several branches in the capital of Maharashtra. The bank offers a home loan to its customers in the city so that they can become actual home owners. The product comes with exciting features like low interest rates, longer repayment term period and EMIs which are affordable.

Karnataka Bank Home Loan Mumbai at a glance

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

Eligibility Criteria for Karnataka Bank Home Loan Mumbai

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 Mumbai

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 information, please refer to Home Loan Mumbai.

Address of Karnataka Bank branches in Mumbai

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