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 and 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
  • Repayment of loan by way of remittances from abroad through normal banking channels.
  • Funds transfer from NRE / FCNR / NRO accounts.
  • Housing loan in INR availed of by NRIs / PIOs can be repaid by close relatives of the borrower in India.
  • Repayment of the loan can be from local sources after returning to India permanently.
  • Interest is applied on the basis of daily diminishing balance.
Interest Rate

To check all Interest rate: Click here

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