Karnataka Bank

• At Karnataka Bank, we understand that all customers are different in unique ways, which is why, regardless of the size of your business or your aspirations, we treat everyone as individual and special. This means offering you choices, not only in relation to our products and services but also in the way you interact with us. We understand the changes in your lifestyle, recognize these changes and support you with a high standard of professionalism and service.
• As a premier bank, we have developed comprehensive range of customized products & services suitable for every kind of market, trade or perceived need – Business or Personal. They include, borrowing facilities, deposits, providing optimum returns on surplus funds or helping with overseas transactions.
• We believe in total quality at all levels. We have deployed the most modern information technology to deliver products & services for your benefit with an aim to develop an effective long-term relationship. But most of all, Technology is matched to your expectations of service, for today & for the future.

Features

• To buy a piece of land for the purpose of constructing a house. The blueprint of the land must be authorized by a Competent Authority
• the applicant needs to be of age 18 and above and must not be above age 60 at the time of maturity.
• You can apply for a sum 30 times of Gross Monthly Income. Indian bank has fixed the cap on Land Loan based on several factors: To buy a property in Rural Locations: INR 50.00 lacs To buy a plot in Semi-urban Places: INR 1 Cr To buy land in Urban/ metro cities: INR 2 Cr to INR 3 Cr
• 25 percent of plot cost
• The customer should start constructing the house in two years from the day he/ she availed the loan. They can also start the construction from the day possession is handed over by the Government Housing Development Agency. In case of non-compliance with the above, a higher interest rate could be levied for the late period.
• Maximum EMIs allowed is 180, without any Holiday Period
• Equitable Mortgage of Property bought out of loan money. This has to be registered (Applicant should bear the expenses) if there is a provision for the same in the State where the plot is.

List of the Services Offered by Karnataka Bank