Karnataka Bank Home Loan Balance Transfer – Lower Your EMIs with Ease
Looking to reduce your monthly financial burden? Karnataka Bank offers a
balance transfer facility that allows you to shift your existing home loan from another bank or financial institution to Karnataka Bank at competitive interest rates. This move can lead to lower EMIs, better interest rates, and a more streamlined repayment experience.
Why Choose Karnataka Bank for Home Loan Balance Transfer?
Competitive Interest Rates:
Enjoy attractive rates starting from 8.94% per annum.
Flexible Repayment Tenure:
Choose loan tenure up to 30 years to suit your financial plans.
Top-Up Loan Facility:
Need more funds? Karnataka Bank offers a top-up loan option along with your transfer.
Quick and Hassle-Free Processing:
Minimal documentation with fast approvals.
Transparent Charges:
Benefit from a clear fee structure with no hidden charges.
Current Interest Rates and Charges
Interest Rates: Starting from 8.94% per annum.
Flexible Repayment Tenure: From 8.94% to 11.06% per annum.
Processing Fees: Up to 0.50% of the loan amount (Min: ₹250 for priority sector, ₹500 for non-priority; Max: ₹25,000).
Foreclosure Charges: 2% for fixed-rate loans; nil for floating-rate loans.
EMI Bounce Charges: ₹500 per instance if unpaid EMIs exceed ₹10,000 and are delayed over 30 days.
Documents Required for Balance Transfer
Prepare the following documents to apply:
- KYC Proof: PAN, Aadhaar, passport, or driver’s license
- Income Proof:
Salaried: Salary slips, Form 16, latest ITRs
Self-Employed: P&L statement, balance sheets, ITRs for 2 years
- Bank Statements: Last 6 months of salary or business income credit.
- Existing Loan Details: Loan sanction letter, latest account statement, foreclosure letter from the current lender
- Property Documents: Sale deed, tax receipts, building plan
Sample EMI Calculation for ₹2,00,000 over 20 Years
| Loan Amount |
Loan Tenure |
Interest Rate (% p.a.) |
Estimated EMI (₹) |
| ₹2,00,000 | 20 years | 8.94% | ₹1,790.00 |
| ₹2,00,000 | 20 years | 9.50% | ₹1,860.00 |
| ₹2,00,000 | 20 years | 10.00% | ₹1,930.00 |
| ₹2,00,000 | 20 years | 11.00% | ₹2,070.00 |