Lakshmi Vilas Bank Home Loan

About Lakshmi Vilas Bank Home Loan

Lakshmi Vilas Bank offers home loan in the name of “ Lakshmi Home Loans” to Individuals and HUFs (operating through Kartas) having sufficient income and an ability to produce satisfactory proof such as income by way of Salary Certificates and Income Tax Certificates.

The bank offers home loan for the following purposes:

  • Constructing a new house/flat
  • Buying a new house/flat constructed by a reputed Promoter/Contractor
  • Additional construction or alterations carried out by the owners of the house
  • Repairs on the House
  • Buying old houses
  • Buying approved residential plots

Home Loan

Eligibility & Quotes from top PSU & Pvt. Banks | Lowest Interest Rates | Comfortable Tenure

    Almost done, few more details required.

    Lakshmi Vilas Bank Home Loan Interest Rates

    ParticularsDescription
    Interest Rates9.90%
    Loan Amount-80% of the project cost in the case of loans for construction / purchase of new house / flat

    -75% of the purchase consideration in the case of purchase of old houses / approved residential plots
    Tenure20 years (for purchase / construction of new house / flat based on the borrower attaining the age of 65 years whichever is earlier)
    -5 years, without holiday period  (in case loan is sanctioned for repairs/renovation and for purchase of residential plot)
    Processing FeesUpto 1.20% of loan amount with applicable service tax
    Pre-payment or ForeclosureNIL

    Lakshmi Vilas Bank Home Loan Eligibility Criteria

    Individuals and HUFs (operating through Kartas) having sufficient income  and able to produce satisfactory  proof such income by way of Salary Certificates, Income Tax Certificates, etc. can avail loans under the scheme

    Lakshmi Vilas Bank Home Loan EMI Calculator

    By using Lakshmi Vilas Bank Home Loan Eligibility Calculator, get the accurate estimate for your home loan. Just enter the basic details such as your monthly income, your fixed monthly obligation, your current age, your retirement age etc and submit the details. The result will show your affordability towards your home loan.

    For example, you are interested in availing a loan amount of ₹30 lakhs repayable after 20 years at varying interest rate being 9.80% p.a. The following table gives you details on your calculated EMI along with interest and the total amount that costs you against your sanctioned home loan.

    Table showing EMI, interest outgo and total amount payable on your home loan

    Loan Amount(in ₹)Loan Tenure(in years)Interest Rate (p.a.)EMI (in ₹)Total Interest Outgo (in ₹)Total Amount (EMI+Interest) (in ₹)
    300000019.80%1,75,6461,07,75021,07,750
    300000029.80%92,1052,10,52822,10,528
    300000039.80%64,3473,16,48323,16,483
    300000049.80%50,5334,25,59824,25,598
    300000059.80%42,2985,37,85225,37,852
    300000069.80%36,8506,53,22026,53,220
    300000079.80%32,9967,71,66927,71,669
    300000089.80%30,1378,93,16028,93,160
    300000099.80%27,94110,17,65230,17,652
    3000000109.80%26,20911,45,09731,45,097
    3000000119.80%24,81412,75,44332,75,443
    3000000129.80%23,67114,08,63334,08,633
    3000000139.80%22,72215,44,60735,44,607
    3000000149.80%21,92416,83,30236,83,302
    3000000159.80%21,24818,24,65038,24,650
    3000000169.80%20,67019,68,58239,68,582
    3000000179.80%20,17221,15,02741,15,027
    3000000189.80%19,74022,63,90842,63,908
    3000000199.80%19,36524,15,15244,15,152
    3000000209.80%19,03625,68,68045,68,680

    Amortization Table

    YearPrincipal (in ₹)Interest (in ₹)Balance Amount (in ₹)
    133,930194,5021,966,070
    237,407191,0251,928,663
    341,244187,1881,887,419
    445,471182,9611,841,948
    550,132178,3001,791,816
    655,274173,1581,736,542
    760,942167,4901,675,600
    867,188161,2441,608,412
    974,077154,3551,534,335
    1081,672146,7601,452,663
    1190,044138,3881,362,619
    1299,276129,1561,263,343
    13109,456118,9761,153,887
    14120,676107,7561,033,211
    15133,04995,383900,162
    16146,68881,744753,474
    17161,72866,704591,746
    18178,30850,124413,438
    19196,58831,844216,850
    20217,00511,6860

    Documentation for Lakshmi Vilas Bank Home Loan

    Salaried IndividualsSelf-employed
    Application form duly filled-up with photograph affixed on the space provided for the purpose.
    Identity Proof (Aadhaar Card, PAN Card or Election Identity Card), age proof, residence proof.
    Copies of the Bank Account Statements for the last six months of all the Bank Accounts including loan accounts/OD Accounts, if any.
    Salary slips for the latest three months along with CTC letter.Business Vintage Proof for Self-employed customers
    Current job appointment letter / Contract letterRegistration Certificate for Companies
    Form No 16 along with IT returns and computation for total income for the last three years.Partnership Deed and Registration Certificate issued by District Registrar
    Trade License
    Shop & Establishment Certificate
    Vat Registration Certificate
    CST Registration Certificate
    Service Tax Registration Certificate
    Any other document issued by Government / Government Authority identifying the entity

    Features and Benefits of Lakshmi Vilas Bank Home Loan

    • Loan schemes with simple terms
    • Customer friendly and transparent procedure
    • Quick sanction and disbursement of loans
    • Personalized and warm customer service
    • Income Tax Benefits

    Lakshmi Vilas Bank Home Loan Customer Care Contact Number

    Whether you want to know about the applicable interest rate, eligibility criteria, any other document to produce or the type of property which you want to mortgage? Speak to an experienced customer care representative of Lakshmi Vilas Bank Home Loan on +1800 – 425 – 2233 (Toll-free Helpline)

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