Karnataka Bank Home Loan in Mumbai

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.

ParticularDetails
Interest Rate8.60% - 9.00%
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 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 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 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.

Branch NameAddressIFSC CodeMICR Contact Details
Fort Mumbai294 A, Haroon House, Perin Nariman Street, Behind R B I, Fort, Mumbai 400001KARB00000794000520021800 425 1444
Borivli West MumbaiLIC Shopping Complex, Jeevan Bima Nagar, Borivili W , Po Mandapeshwar, Mumbai 400103KARB00000814000520031800 425 1444
Sion East Mumbai239 A, Tamil Sangam Road, Sion East , Mumbai 400022KARB00000854000520071800 425 1444
Bandra West MumbaiPLOT NO333 By 334, Prem Sagar Chs Ltd, Dr Ambedkar Rd, Bandra W , MUMBAI 400050KARB00000864000520061800 425 1444
Andheri West Mumbai1ST Floor, Manish Nagar Shopping Centre, Azad Nagar Po, Mumbai 400053KARB00000914000520041800 425 1444
Kandivali West MumbaiB By 13, Matru Ashish, Next To Balbharati, Sv Road, Kandivali 400067KARB00000934000520051800 425 1444
Overseas Mumbai104106 , 1st Floor, Embassy Centre, Jamnalal Bajaj Marg, Nariman Point, Mumbai 400021KARB00001014000520091800 425 1444
Bhayander East MumbaiShop No12, Ostwal Ornate, Jesal Park Road, Bhayander E 401105, Thane DistKARB00001064000520101800 425 1444
Dombivli Mumbai1st Floor, Shree Complex, Opp Mahavir Nagar, Manpada Road, Dombivli East 421201KARB00001934000520121800 425 1444
Kalyan MumbaiNH 83, Suchak Chambers, Near Mahaveer Complex, Pb250, Kalyan West 421301 Thane DistKARB00004274000520081800 425 1444
Mumbai - Vazira Naka, Borivli (W)Ground Floor, Donbosco High School Building, Vazira Naka, Borivali (W), Mumbai - 400091KARB00005094000520211800 425 1444
Kandivali East MumbaiGayatri Corner, 90 Feet Road, Asha Nagar, Opp Thakur Polytechnic, Kandivli East , Mumbai 4KARB00005104000520131800 425 1444
PowaiGround Floor, Gateway Plaza, Central Avenue, Hiranandani Gardens, Mumbai Powai 400076KARB00005124000520141800 425 1444
Oshiwara Mumbai20 21, Oshiwara Link Plaza, Mhada Complex, Oshiwara, Jogeshwari W 400102, Dist OshiwaraKARB00005144000520151800 425 1444
Kopar Khairane Navi MumbaiLions Service Centre, Plot No 101, Sector 7, Koparkhairane, Navi Mumbai 400709KARB00005154000520161800 425 1444
Thakur Village MumbaiShop No34 39, Evershine Complex, Thakur Village, Kandivli E , Mumbai 400101KARB00005164000520171800 425 1444
Santacruz MumbaiRose Manor Garden School Central Avenue Santacruz Mumbai 400054KARB00005184000520191800 425 1444
Mulund WestGround Flr, Mundada Hostel , Building, Near BMC T Ward Office, Devidayal Road, Mulund WestKARB00005204000520201800 425 1444
Service Branch MumbaiP.B.NO. 1128, 5th Floor, Vardhaman Chambers, 17 - G, Cawasji Patel Street, Fort, Mumbai - 400001KARB00001024000520011800 425 1444

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