Lakshmi Vilas Bank

Lakshmi Home Loan

Eligibility

Individuals and HUFs (operating through Kartas) with sufficient income and who can
produce satisfactory proof of such income by way of salary certificates, Income Tax
certificates etc.can avail loans under the scheme.

Purpose

Construction of a new house/flat.
• Purchase of a new house /flat constructed by a reputed promoter/contractor.
• Additional construction or alterations carried out by the owners of the houses.
• Repairs done by owners of the houses.
• Purchase of old houses
• Purchase of approved plots

Margin

• 25% of the purchase consideration in the case of purchase of old houses/approved plots
• 15% of the project cost in the case of loans for construction/purchase of new house/flat

Repayment

The maximum repayment period will be 15 years or the borrower attaining the age of
65 years, whichever is earlier, including a maximum holiday period of six months.

Rate of Interest

Sl. No.

Loan facility/product

Interest Rate

Lakshmi Home Loans – Variable rate loans

Loans of up to Rs.30.00 lacs:

Loans repayable in 5 years: Base Rate + 1.50% (PER: 10.25% p.a.)

Loans repayable in 5 to 15 years: Base Rate + 1.75% (PER: 10.50% p.a.)

Loans of above Rs.30.00 lacs:

Loans repayable in 5 years: Base Rate + 1.75% (PER: 10.50% p.a.)

Loans repayable in 5 to 15 years: Base Rate + 2% (PER: 10.75% p.a.)

Lakshmi Home Loans – Fixed rate loans (with provision for interest rate reset once in every 3 years)

Loans of up to Rs.30.00 lacs:

Loans repayable in 5 years: 11% p.a.

Loans repayable in 5 to 15 years: 11.25% p.a.

Loans of above Rs.30.00 lacs:

Loans repayable in 5 years: 11.25% p.a.

Loans repayable in 5 to 15 years: 11.50% p.a.