Karnataka Bank

Karnataka Bank Home Loan

Apply Karnataka Bank  Home Loan

About Karnataka Bank Home Loan

Karnataka Bank is a Class 'A' Scheduled Commercial Bank that was founded in the coastal town of Dakshina Kannada district of Karnataka. The bank laid its roots on February 18th, 1924, after the freedom movement of the 20th Century reached its climax. Following the merger of Sringeri Sharada Bank Ltd., Chitradurga Bank Ltd., and Bank of Karnataka, the institution grew throughout the nation, having over 814 branches across 22 States and Union Territories today.

Availing a Home Loan in metropolitan and rural areas is difficult for most. Karnataka Bank Limited understands this and offers lucrative Home Loans for meeting various financial requirements. These Home Loans cater to individuals who want to renovate or refurbish existing homes, or buy new properties in different cities. The rates of interest offered by the bank are some of the best in the market, giving borrowers the ease of convenience in paying back on time. 

Karnataka Bank Home Loan

Interest rate


Loan tenure

30 Years

Loan turnaround period

8 - 15 days

Loan to value (LTV)

Get loan up to 85% of project cost

Who can apply?

  • Self-employed professionals
  • Salaried individuals
  • Indian residents


Up to 4 applicants are allowed as co-applicants

Lowest EMI

 758 Per Lakh

Why Karnataka Bank Home Loan?

The Karnataka Bank Home Loan can be availed for purchasing a property that was once occupied by a past owner or a brand new property. Borrowers can add furnishing to their homes and items like electronics, technological equipment, etc., or renovate and remodel their existing homes using this loan.

The loan is also eligible for those who want to buy a house that is currently undergoing construction and for ready-to-move-in apartments as well. Borrowers can apply for this loan either using their own name or by signing the loan application jointly using two or more co-applicants. 

Here are some reasons to opt for Karnataka Bank Home Loan:

  • Attractive rates of interest
  • Large amount of loan
  • Long tenure
  • Simple processing
  • Quick disbursal
  • NRIs can also apply
  • Multiple housing loan schemes available

Features and Benefits of Karnataka Bank Home Loan

When you apply for a Home Loan with Karnataka Bank, you sign up for convenient borrowing that accompanies a bundle of features and benefits mentioned below:

  • Flexible repayment tenures that can go up to a maximum of 30 years
  • Home Loans up to 5 Crores
  • Karnataka Bank Home Loan covers up to 90% of property's cost
  • Home Loans for repairs and renovations up to a maximum of 30 Lakhs or 40% of property value
  • Get a loan up to 50 Lakhs for purchase of house site
  • Option to mortgage property to add Home Loan security
  • Zero fees charged on prepayments
  • Fast application approvals in as little as 15 working days
  • Zero hidden costs and charges
  • Straightforward documentation and application process

Karnataka Bank Home Loan Interest Rates

Following are the details for Karnataka Bank Home Loan interest rates as on 21.06.2019:

Housing Loan Scheme Applicable Rate of Interest

KBL - Apna Ghar/Elite

  • For loans up to 75 Lakhs: 8.60%
  • For loans above 75 Lakhs: 9%

KBL Home Comfort

  • For tenure up to 60 months: 10.05%
  • For tenure above 60 months: 10.45%

KBL Ghar Niveshan


KBL Home Top Up


Types of Home Loans Offered by Karnataka Bank and Their Eligibility Criteria

Below are the types of housing loans offered by Karnataka Bank Ltd with their eligibility criteria and features.

KBL Apna Ghar

Who can apply

  • Resident Indians
    • Salaried persons with minimum gross monthly salary of 10,000
    • Agriculturist with minimum annual net income of 1,20,000
    • Business Owners/ Professionals/ Self-employed with minimum annual gross income of 1,20,000
  • NRIs holding an Indian passport
    • Salaried persons with minimum gross monthly salary of 40,000
    • Business Owners/ Professionals/ Self-employed with minimum annual gross income of 4,80,000
  • Applicant must be of minimum 18 years of age at the time of application


  • For construction or purchase of house or flat
  • For renovation, remodelling or repair to an existing house/ flat

Loan quantum

  • Purchase/Construction: Up to 5 Crores
  • Renovation/ Repair/ Remodelling/ Extension: Up to 30 Lakhs


  • Construction: Up to 30 years
  • Renovation/Repair: Up to 7 years

KBL Home Comfort

Who can apply

  • Who have already obtained KBL Apna Ghar/Elite Loan can apply for this loan
  • Who has not obtained any loan from any financial institution for their residential property or who have closed their existing housing loan can apply.


For furnishing, interior works, solar heating/lighting systems, and acquiring furniture-fixtures.

Loan quantum

Up to 1 Crore


Up to !0 years

KBL Ghar Niveshan/ Site Loan

Who can apply

  • Resident Indians
    • Salaried persons with minimum gross monthly salary of 10,000
    • Others with minimum annual gross income of 1,20,000
  • NRIs holding an Indian passport
    • Salaried persons with minimum gross monthly salary of 40,000
    • Others with minimum annual gross income of 4,80,000
  • Applicant must be of minimum 21 years of age at the time of application


For purchasing a house site

Loan quantum

Up to 50 Lakhs


Up to 5 years

KBL Home Top Up

Who can apply

  • Who have already obtained KBL Apna Ghar/Elite loan or KBL Home Comfort loan, where the related property is on mortgage already can apply for the loan.
  • Applicant must be of minimum 21 years of age at the time of application


  • Meeting various personal financial needs, other than for a speculative purpose.
  • For NRIs, the purpose of the loan should be as permitted under the guidelines of FEMA.

Loan quantum

Up to 1 Crore


Up to 10 years

Documents Required for Karnataka Bank Home Loan

The following documents are required to apply for a Home Loan at Karnataka Bank Ltd.:

  • Identity proof
  • Residence proof
  • Original copy of duly attests Agreement to sell/ Sale Deed/ Construction agreement for flats/ Lease agreement/ Tax paid receipts/ RTC/ Khata certificate.
  • Original copies of approved plan and license for the constructed or to be constructed building
  • Original or copies of estimate (required for only new construction)
  • Property's valuation report that is to be purchased or mortgaged
  • Income proof, such as the latest Salary Certificate, Salary Slip, ITR/ITAO with the computation of income, AFS, etc. (as applicable).
  • Details of additional securities (other than property) offered and the connected documents
  • Details of the proposed work and cost estimation by valuer/ engineer approved by the bank
  • Copy of P&L Account, Balance Sheet, AFS, etc.
  • Details of other bank accounts
  • Farm budget with a copy of RTC and property details (required for agriculturists)
  • A copy of Insurance Policy
  • Latest Salary Certificate/ Salary Slip attested by Indian Embassy, last 12 months' statement of Salary Account (only for NRIs).

Why Apply for Karnataka Bank Home Loan on MyMoneyMantra?

MyMoneyMantra is a leading online lending marketplace in India that helps you obtain much-needed funds in quick time. We are partnered with 90+ banks and other financial institutions. Our Mortgage Specialists will help you to easily apply for a Home Loan at Karnataka Bank.

Our website has information about all housing loan products from top lenders. This helps you make an informed decision based on your needs and budget.

With our easy-to-use EMI Calculator, you can also calculate the equated monthly instalment (EMI) for the proposed Home Loan and plan your upcoming financial obligation accordingly.    

MyMoneyMantra is committed to getting customers their required Home Loans in a seamless and hassle-free manner. Our housing loan specialists will not only guide you on the best loan scheme to apply for but also collect and take care of your documentation and formal application procedures. Our team will reach out to you and handhold you every step of the loan application process, from filling up the application form to providing the correct documentation. Our specialists will also help you keep track of your application status and provide you with instant updates on application approvals and loan disbursals. 

How to Apply for Karnataka Bank Home Loan on MyMoneyMantra?

It is easy and instant to apply for Karnataka Bank Home Loan through MyMoneyMantra. Follow the steps mentioned below to apply:

  • Go to our website, i.e., mymoneymantra.com
  • Click on the Home Loan mentioned under Loans tab
  • Either click on Karnataka Bank Home Loan given on the right side on the page and fill up the details or fill up the form directly on the Home Loan page.
  • Enter all the details like your name, occupation, loan amount, purpose, and so on
  • You will receive an OTP on your mobile number, enter it on the given space
  • Submit your application
  • Our Mortgage Specialists will call you shortly to guide you through the further process

Other Products by Karnataka Bank

Apart from housing loan schemes, Karnataka Bank also offers the products and services listed below:

Personal Loans

Vehicle Loans

Education Loans

Loan Against Property

KBL Ravi Kiran

KBL Insta Cash


KBL Commodity Pledge

KBL Contractor Mitra

KBL Mortgage OD

Women Entrepreneur

KBL Agri Gold Scheme

Krishik Sarathi Scheme

Krishik Sinchana Scheme

Krishik Bhandar

Krisgik Godham

KBL Agro Processing Scheme

KBL Insta Agri Credit Scheme

Kisan Credit Card Scheme

NRI Accounts & Deposits

NRI Loans & Advances

NRI Cards

Forex Services

Current Account

Savings Account

Term Deposits

Credit Card

Debit Card

Travel Card

Gift Card

Image Card

Deposit Only Card

Digital Banking

Demat & Online Trading

Life Insurance

Health Insurance

General Insurance



Locker Facility

How to Calculate Karnataka Bank Home Loan EMI?

Home Loan EMI is to be paid by the borrower every month till the end of the repayment tenure. Your EMI includes a component principal loan amount and the interest rate added to it by the bank.

It is important to calculate your Home Loan EMI before applying for the loan. You can easily calculate it using the EMI Calculator available o MyMoneyMantra's website.

Here are the steps to be followed:

  • Click on the Financial Tools tab on the homepage of MyMoneyMantra
  • Select EMI Calculator tool
  • Enter the details - loan amount to be availed, proposed interest rate, and repayment tenure
  • Click on the 'Calculate' button to get the instant result

Karnataka Bank Home Loan - Customer Care

There are various Karnataka Bank Customer Care offices set up throughout India for ease of access to information and speedy resolution of queries. For learning more about their products or enquiring banking details, you may contact their customer care representatives online or via the contact numbers listed below:

Contact Number Type of Contact Fees Charged


Customer Care

Toll-free (BSNL/MTNL)


Customer Care

Local Rates May Apply for landline and mobile users


Loan Department

Local Rates May Apply

The toll-free numbers are open 24X7 to customers for assistance on loan and banking-related queries. Customers are advised to keep documentation and details related to their loan application queries ready before talking to customer care representatives, since they may be questioned for additional information.

FAQs - Karnataka Bank Home Loan

What is the down payment required for Karnataka Bank Home Loan?

10-25% of the marginal value of the property is required for the down payment and for houses or flats above 10 years old. The down payment is 30% of the property amount.

What documents are needed for Karnataka Bank Home Loan?

For the Karnataka Bank Apna Ghar Home Loan, applicants will need to submit their Photo ID Proof (PAN Card), copies of address proof and 2 years' income tax return. Salary slips for 1 year should be included for those who are salaried and not self-employed, along with account statements.

What is the turnaround time for Karnataka Bank Home Loan?

It takes at least 7 to 10 working days to disburse the loan from the time of application approval.

Should I apply for the Home Loan online or directly through a branch?

Applying for the Home Loan online through MyMoneyMantra is a fast and seamless process. You don't have to worry about long queues, wait times, or following up about missing documentation since we sort everything out for you.

Does the bank offer housing loan to NRIs?

Yes, salaried as well as self-employed NRI applicants holding Indian passport an also avail housing loan from Karnataka Bank.

How do I start paying the EMIs?

Once the entire loan is disbursed, you will have to pay EMIs starting the following month as per the interest rate. Until the final disbursement of the entire Home Loan, you will have to pay just the interest on the disbursed amounts which we call the pre-EMI interest and that is payable until the date of final disbursement, after which your regular EMI payments commence.

Can I buy a plot of land using this Home Loan?

Yes, you can. KBL provides KBL Ghar Niveshan/ Site Loan for the purchase of the house site. The loan amount available is up to 50 Lakhs under this scheme.

Can I take this Home Loan for the purpose of paying my existing Home Loan from another bank?

Yes, you can Balance Transfer your existing housing loan from another lender to Karnataka Bank.

Is this Home Loan applicable to solely insured properties?

Yes. If the property is insured and has supporting documentation to prove it, it will be eligible for this Home Loan.

What are the repayment methods for this Home Loan?

You can give your bank a standing instruction to automatically debit the EMI amount every month. Alternatively, you can give post-dated cheques (PDCs) for clearance or opt for the Electronic Clearing Service (ECS)

Latest News Snippets - Karnataka Bank Home Loan

Karnataka Bank proposes to raise capital by 800 Crores

Karnataka Bank's board of directors approved the proposal for increasing the bank's capital up by 800 Crores through the issue on non-convertible lower tier-II subordinated bonds via one or more private tranches.

Karnataka Bank makes a donation of 25 Lakhs to Karnataka Chief Minister Relief Fund Natural Calamity 2018

Shri Raghavendra Bhat M, Chief Operating Officer of Karnataka Bank, handed over a DD of 25 Lakhs to Honorable CM of Karnataka, Shri H D Kumaraswamy at Vidhan Soudha, Bengaluru for the Chief Minister Relief Fund Natural Calamity 2018 initiative on September 3rd, 2018.

Karnataka Bank donates sewing machines as per its CSR initiatives

A number of sewing machines were donated by Karnataka Bank this 2018. The Deputy General Manager of the bank, Shri Ravindranath Hande H P, was seen handing over a sewing machine to the beneficiary, as part of Karnataka Bank's CSR Initiatives. The donation event was hosted in Mangaluru and key individuals present were the Current Union Minister of Skill Development and Entrepreneurship who is Shri Anant Kumar Hedge and Mara Amritanandamayi.

Karnataka Bank donates 25 Lakhs to Kerela Chief Minister's Distress Relief Fund

Karnataka Bank recently donated 25 Lakhs to Kerela Chief Minister's Distress Relief Fund for rebuilding the state that was ravaged by the 2018 floods. Managing Director and CEO of the bank, Shri Mahabaleswara M.S. was seen handing over a Demand Draft of 25 lacs to Honorable Chief Minister of Kerela, Shri Pinarayi Vijayan, for the purpose of restoring livelihoods of Kerela citizens and rebuilding infrastructure.

Karnataka Bank donates food distribution vehicle to the Mid-Day Meal Programme

The month of September marked a joyous occasion as Karnataka Bank Managing Director and CEO, Shri Mahabaleshwara M.S., handed over a food-distribution vehicle towards the Mid-Day Meal Programme hosted by M/s The Akshaya Patra Foundation, as per CSR Initiatives.

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