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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.
|Interest Rate||8.35% - 9.18%|
|Amount||60 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.
|Tenure||Up to 30 years for purchase or construction of house.|
|Processing Fees||0.50% of the sanctioned loan amount|
|Prepayment Fees||As 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 Name||Address||IFSC Code||MICR||Contact Details|
|Fort Mumbai||294 A, Haroon House, Perin Nariman Street, Behind R B I, Fort, Mumbai 400001||KARB0000079||400052002||1800 425 1444|
|Borivli West Mumbai||LIC Shopping Complex, Jeevan Bima Nagar, Borivili W , Po Mandapeshwar, Mumbai 400103||KARB0000081||400052003||1800 425 1444|
|Sion East Mumbai||239 A, Tamil Sangam Road, Sion East , Mumbai 400022||KARB0000085||400052007||1800 425 1444|
|Bandra West Mumbai||PLOT NO333 By 334, Prem Sagar Chs Ltd, Dr Ambedkar Rd, Bandra W , MUMBAI 400050||KARB0000086||400052006||1800 425 1444|
|Andheri West Mumbai||1ST Floor, Manish Nagar Shopping Centre, Azad Nagar Po, Mumbai 400053||KARB0000091||400052004||1800 425 1444|
|Kandivali West Mumbai||B By 13, Matru Ashish, Next To Balbharati, Sv Road, Kandivali 400067||KARB0000093||400052005||1800 425 1444|
|Overseas Mumbai||104106 , 1st Floor, Embassy Centre, Jamnalal Bajaj Marg, Nariman Point, Mumbai 400021||KARB0000101||400052009||1800 425 1444|
|Bhayander East Mumbai||Shop No12, Ostwal Ornate, Jesal Park Road, Bhayander E 401105, Thane Dist||KARB0000106||400052010||1800 425 1444|
|Dombivli Mumbai||1st Floor, Shree Complex, Opp Mahavir Nagar, Manpada Road, Dombivli East 421201||KARB0000193||400052012||1800 425 1444|
|Kalyan Mumbai||NH 83, Suchak Chambers, Near Mahaveer Complex, Pb250, Kalyan West 421301 Thane Dist||KARB0000427||400052008||1800 425 1444|
|Mumbai - Vazira Naka, Borivli (W)||Ground Floor, Donbosco High School Building, Vazira Naka, Borivali (W), Mumbai - 400091||KARB0000509||400052021||1800 425 1444|
|Kandivali East Mumbai||Gayatri Corner, 90 Feet Road, Asha Nagar, Opp Thakur Polytechnic, Kandivli East , Mumbai 4||KARB0000510||400052013||1800 425 1444|
|Powai||Ground Floor, Gateway Plaza, Central Avenue, Hiranandani Gardens, Mumbai Powai 400076||KARB0000512||400052014||1800 425 1444|
|Oshiwara Mumbai||20 21, Oshiwara Link Plaza, Mhada Complex, Oshiwara, Jogeshwari W 400102, Dist Oshiwara||KARB0000514||400052015||1800 425 1444|
|Kopar Khairane Navi Mumbai||Lions Service Centre, Plot No 101, Sector 7, Koparkhairane, Navi Mumbai 400709||KARB0000515||400052016||1800 425 1444|
|Thakur Village Mumbai||Shop No34 39, Evershine Complex, Thakur Village, Kandivli E , Mumbai 400101||KARB0000516||400052017||1800 425 1444|
|Santacruz Mumbai||Rose Manor Garden School Central Avenue Santacruz Mumbai 400054||KARB0000518||400052019||1800 425 1444|
|Mulund West||Ground Flr, Mundada Hostel , Building, Near BMC T Ward Office, Devidayal Road, Mulund West||KARB0000520||400052020||1800 425 1444|
|Service Branch Mumbai||P.B.NO. 1128, 5th Floor, Vardhaman Chambers, 17 - G, Cawasji Patel Street, Fort, Mumbai - 400001||KARB0000102||400052001||1800 425 1444|