KVB Gruhapravesh for NRI
KVB to cater the needs of Non-resident Indians (NRI) and Persons of Indian Origin (PIO) has designed a specific product in the name of KVB - NRI - Gruhapravesh. The loan shall be availed for purchase of a ready built house in India, construction of a new house in India, home improvements / extension, land purchase and subsequent construction thereon within 6 months & for taking over of loans from other banks.
Features & benefits
Non-resident Indians (NRI) and Persons of Indian Origin (PIO) shall avail the loan.
Personal Criteria:
- Minimum age 23 years.
- Valid Indian Passport (For NRIs) / Valid foreign passport (For PIOs).
- A steady source of income.
- Employed abroad for at least 2 years.
- Valid job contract or work permit.
- Minimum Net Monthly Income (NMI) of US$ 1500 or Minimum Net Annual Income (NAI) of US$ 18000/- (or its equivalent in any other foreign currency).
Charges and Limits
| Margin | 10% to 25% |
| Maximum Repayment Tenor | 30 Years (Including Holiday Period) - EMI. |
| Maximum Holiday Period | For Construction 24 months and for an outright purchase of Flat 3 months. |
| Primary Security | Equitable mortgage by deposit of title deeds, Registered mortgage when considered necessary. |
| Collateral Security | Optional (NSC / KVP / LIC Policies, Bank Deposits, Land & Building etc). |
| Guarantee | A suitable guarantor with sufficient net worth, acceptable to the bank. |
| Processing Charges | |
| Loans up to Rs. 25 Lakhs | Rs. 2,500/- + GST |
| Loans between Rs. 25 Lakhs & Rs. 50 Lakhs | Rs. 5000/- + GST |
| Loans above Rs. 50 Lakhs | Rs. 7,500/- + GST |
| Other Terms & Conditions |
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Interest Rate
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