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About Karnataka Bank Home Loan Patna
Patna is one of the leading cities in eastern India and is the capital of Bihar. People living in the city can now realize their housing dreams by obtaining a home loan product offered by Karnataka Bank. The Bank has opened one branch in Patna. A home loan has lower interest rates and longer repayment period compared to other financial products offered by the bank. You can use the home loan for meeting your housing needs and even for renovation and extension purpose.
Karnataka Bank Home Loan Patna at a glance
The essential details about the product offered by Karnataka Bank have been given below.
|Interest Rate||8.08% - 8.85%|
|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 Patna
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 Patna
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 Patna.
Address of Karnataka Bank branches in Patna
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|
|Patna||SR - 01 Dukhan Ram Plaza, Exhibition Road, Near Gandhi Maidan Pirbahore, Patna - 800001||KARB0000613||800052002||1800 425 1444|