Kerela Gramin Bank Plot Loan Features
Interest Rate | 8.90% |
Plot Loan amount | Up to INR 3 Crores |
Loan Tenure | 15 Years |
Margin | 24% |
Pre-payment Penalty | Nil |
Eligibility Criteria for Kerela Gramin Bank Plot Loan
- Indian nationality
- Age between 18-65
- Valid Identity Proof
- Valid Address Proof
- Constant salary for the last 6 months.
- ITR Copy
Benefits of Kerela Gramin Bank Plot Loan
There are various benefits in Kerela Gramin Bank Plot loan.
- EMI as per customer’s requirements
- 15 years Loan tenure
- Tax benefits
- Less documents required
- Quick approval
- Loan disbursement within 7 business days
Plot Loan
Kerela Gramin Plot loan offers various benefits to their customers. It is provided by banks and NBFCs to help the borrowers buy a plot of land. The repayment is done in the form of EMI, within a agreed upon period of time. Most of the banks offer up to 15 years of loan tenure. Plot Loan is the easiest way to get money for buying a plot of land. Different banks offer different rates on Plot Loan.
1. Plot Loan Interest Rates
The interest rate starts at 8.90%
2. Loan to Value Ratio (LTV)
LTV is available at a maximum of 70%.
3. Lower Tenure
The loan tenure is up to 15 years.
4. Tax Benefits
Plot loan tax benefits can be availed under Section 80C after the plot construction is completed.
5. Prepayment Penalty
Floating rate loans have no prepayment penalty.
Types of Plot Loan Kerala Gramin Bank Provides
Plot Loan
A plot loan will let the customer purchase a plot of land within municipal limits for a borrower’s personal use. This land can also be used for multiple purposes from investment to agricultural purposes.
Plot + Construction Loan
This type of loan is given to construct a house on the land. The construction on the land needs to start well before time.
Kerala Gramin Bank Plot Loan for Self-employed Individuals:
Kerala Gramin Bank Plot Loan has many benefits for self-employed individuals.
Who Can Apply for a Self-employed Kerala Gramin Bank Plot Loan
LOAN AMOUNT | MAXIMUM FUNDING |
Rs. 30 lakh – 75 lakh | Up to 80% of the document cost or the market value, whichever is the lowest. |
Above Rs. 75 lakh | Up to 75% of the document cost or the market value, whichever is the lowest. |
Types of Plot Loans for Self-employed Individuals
- Adjustable-Rate Loan- The Adjustable Rate Loan is accessible at Retail Prime Lending Rate, which is revised every six months. It has a directly proportional impact on the interest rate and EMI.
- TruFixed Loan- The TruFixed loan is available at 2/3 year Fixed Rate Variant. It provides one half of an adjustable-rate and the other half fixed rate.
Kerala Gramin Bank Plot Loan Interest Rate for Self-employed Professionals
Adjustable Plot Loan Rate
Loan Slab | Home Loan Interest Rates (% p.a) |
---|---|
For women* (up to 30 lakh) | 7.05 to 7.55 |
For others* (up to 30 lakh) | 7.10 to 7.60 |
For women* (above 30 lakh) | 7.30 to 7.80 |
For others* (above 30 lakh) | 7.35 to 7.85 |
For Women* (75.01 Lakhs & Above) | 7.40 to 7.90 |
For Others*(75.01 Lakhs & Above) | 7.45 to 7.95 |
TruFixed Rate- 2/3 Year Fixed Rate Variant
Loan Slab | Home Loan Interest Rates (% p.a.) |
---|---|
For Women* (up to 30 Lakhs) | 7.50 to 8.0 |
For Others* (up to 30 Lakhs) | 7.55 to 8.05 |
For Women* (Above 30 Lakhs) | 7.65 to 8.15 |
For Others* (Above 30 Lakhs) | 7.70 to 8.20 |
For Women* (75.01 Lakhs & Above) | 7.75 to 8.25 |
For Others*(75.01 Lakhs & Above) | 7.80 to 8.30 |
Kerala Gramin Bank Plot Loan Interest Rate for self-Employed Non-professionals
Adjustable Home Rate Loan
Loan Slab | Interest Rates (% p.a.) |
---|---|
For Women* (Up to 30 Lakhs) | 7.20 to 7.70 |
For Others* (Up to 30 Lakhs) | 7.25 to 7.75 |
For Women* (Above 30 Lakhs) | 7.45 to 7.95 |
For Others* (Above 30 Lakhs) | 7.50 to 8.00 |
For Women* ( 75.01 Lakhs & Above) | 7.55 to 8.05 |
TruFixed Loan- 2/3 Year Fixed Rate Variant
Loan Slab | Interest Rates (% p.a.) |
---|---|
For Women* (up to 30 Lakhs) | 7.65 to 8.15 |
For Others* (up to 30 Lakhs) | 7.70 to 8.20 |
For Women* (Above 30 Lakhs) | 7.80 to 8.30 |
For Others* (Above 30 Lakhs) | 7.85 to 8.35 |
For Women* ( 75.01 Lakhs & Above) | 7.90 to 8.40 |
For Others*( 75.01 Lakhs & Above) | 7.95 to 8.45 |
Kerala Gramin Bank Documents Required for Self-employed
ID Proof | PAN Card / Passport / Aadhar Card / Voter ID |
Residence Proof | Driver’s License, Telephone Bill, Election or Ration Card |
Education Qualification | Last qualifying degree |
Proof of Business | Certificate or any other proof of business |
Tax Returns | Last three years Income Tax Returns |
Bank Account Statements | Last 1 year bank statements |
Other documents | Processing fee cheque, photocopy of title documents of the property. |
Kerala Gramin Bank Plot Loan fees for Self-employed Individuals
Processing Fees:
The processing fee ranges from Rs. 2,500 – Rs. 5,000
Pre-payment Charges
Adjustable-Rate Home Loans | For loans sanctioned to individual borrowers with the firm, company, etc. as a co-applicant, prepayment charges are at 2% plus taxes. |
Fixed-Rate Home Loans | Prepayment charges will be 2% plus tax and charges of the outstanding amount |
Fixed and Variable Rate Loans | Fixed and Variable Rate Loans (Combination rate)
|
Conversion Fees
Name of the service | Name of the charge/fee levied | When payable | Frequency |
Amount in rupees
|
Switch to a lower rate in Variable Rate Loans
|
Conversion fees | On conversion | On every spread change |
Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower.
|
Switching to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension)
|
Conversion fees | On conversion | Once |
Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower.
|
Switching from Trufixed Fixed Rate to Variable Rate Loan
|
Conversion fees | On conversion | Once |
1.75% of the principal outstanding and undisbursed amount plus taxes at the time of conversion.
|
Switch to Lower Rate (Non-Housing Loans)
|
Conversion fees | On conversion | On every spread change |
Half of the spread difference on the principal outstanding and undisbursed amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%.
|
Switch to Lower Rate (Non-Housing Loans)
|
Conversion fees | On conversion | On every spread change |
0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion.
|
Cheque Dishonour Charges
Up to 200 rupees
Fees on Account of External Opinion
The external opinion fee of technical advocate is paid by the borrower.
Property Insurance
Borrowers have to pay for the insurance.
Incidental Charges
The incidental charges are paid by the borrower.
Statutory / Regulatory Charges
The customer has to pay for all the statutory and Regulatory charges.
List of Documents
Up to 500 rupees
Photocopy of Documents
Up to 500 rupees
Increase/Decrease in Loan Term
Up to 500 rupees
Disbursement Cheque Cancellation Charge Post Disbursement
Up to 200 rupees
Re-appraisal of Loan After 6 Months from Sanction
Up to Rs. 2000 and applicable charges.
PDC Swap
Up to 200 rupees
Kerala Gramin Bank Plot Loan for Salaried Individuals
All salaried individual can make use of Kerala Gramin Bank Plot Loan.
Who can apply for a Salaried Kerala Gramin Bank Plot Loan
LOAN AMOUNT | MAXIMUM FUNDING |
Rs. 30 lakh to Rs. 75 lakh. | Up to 80% of the market value or cost of the property, whichever is lower. |
Above Rs. 75 lakh. | Up to 75% of the market value or cost of the property, whichever is lower. |
Types of Plot Loans for Salaried Individuals
- Adjustable-Rate Loan- The Adjustable Rate Loan is accessible at Retail Prime Lending Rate, which is revised every six months. It has a directly proportional impact on the interest rate and EMI.
- TruFixed Loan- The TruFixed loan is available at 2/3 year Fixed Rate Variant. It provides one half of an adjustable-rate and the other half fixed rate.
Kerala Gramin Bank Plot Loan Interest Rate for Salaried Individuals
Adjustable Plot Loan Rate
Loan Slab | Home Loan Interest Rates (% p.a) |
---|---|
For women* (up to 30 lakh) | 7.05 to 7.55 |
For others* (up to 30 lakh) | 7.10 to 7.60 |
For women* (above 30 lakh) | 7.30 to 7.80 |
For others* (above 30 lakh) | 7.35 to 7.85 |
For Women* (75.01 Lakhs & Above) | 7.40 to 7.90 |
For Others*(75.01 Lakhs & Above) | 7.45 to 7.95 |
TruFixed Loan- 2/3 Year Fixed Rate Variant
Loan Slab | Home Loan Interest Rates (% p.a.) |
---|---|
For Women* (up to 30 Lakhs) | 7.50 to 8.0 |
For Others* (up to 30 Lakhs) | 7.55 to 8.05 |
For Women* (Above 30 Lakhs) | 7.65 to 8.15 |
For Others* (Above 30 Lakhs) | 7.70 to 8.20 |
For Women* (75.01 Lakhs & Above) | 7.75 to 8.25 |
For Others*(75.01 Lakhs & Above) | 7.80 to 8.30 |
Kerala Gramin Bank Plot Loan Documents For Salaried Individuals
ID proof | Passport, PAN Card, Aadhar Card, Election Card |
Residence Proof | Driving License, Telephone Bill, Ration Card, Election Card |
Education Qualification | Last qualifying Degree |
Salary Slips | Last three months’ salary slips |
Bank Statements | Last six months bank statements |
Others | Processing fee cheque and photocopy of title documents |
Kerala Gramin Bank Plot Loan Fees for Salaried Individuals
Processing Fees:
The processing fees is Rs. 2,500- Rs. 5,000
Pre-payment Charges:
Adjustable-Rate Home Loans | For loans sanctioned to individual borrowers with a co-applicant, prepayment charges are at 2% plus taxes. |
Fixed-Rate Home Loans | Prepayment charges will be 2% plus tax and charges of the outstanding amount should be prepaid through any financial institution or a bank. |
Fixed and Variable Rate Loans | Fixed and Variable Rate Loans (Combination rate)
|
Conversion Fees:
Name of the service | Name of the charge/fee levied | When payable | Frequency | Amount in rupees |
---|---|---|---|---|
Switch to a lower rate in Variable Rate Loans | Conversion fees | On conversion | On every spread change | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
Switch to Variable Rate Loan from Fixed Rate Loan (Housing/improvement/extension) | Conversion fees | On conversion | Once | Up to 50% of the principal outstanding and undisbursed amount at the time of conversion or a cap of 50,000 rupees plus taxes whichever is lower. |
Switch from Trufixed Fixed Rate to Variable Rate Loan | Conversion fees | On conversion | Once | 1.75% of the principal outstanding amount plus taxes at the time of conversion. |
Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | Half of the difference on the principal outstanding amount plus taxes, with a minimum fee of 0.5% and a maximum fee of 1.50%. |
Switch to Lower Rate (Non-Housing Loans) | Conversion fees | On conversion | On every spread change | 0.5% of principal outstanding and undisbursed amount plus taxes at the time of conversion. |
Cheque Dishonour Charges
Up to Rs. 200
Fees on Account of External Opinion
The fee for external opinion is paid by the customer.
Property Insurance
Borrowers have to pay for the insurance.
Incidental Charges
The incidental charges are paid by the defaulter.
Statutory / Regulatory Charges
The customer pays for all the Statutory and Regulatory charges.
List of Documents
Up to Rs. 500
Photocopy of Documents
Up to 500 rupees.
Increase/Decrease in Loan Term
Up to Rs. 500
Disbursement Cheque Cancellation Charge Post Disbursement
Up to Rs. 200
Re-appraisal of Loan After 6 Months from Sanction
Up to Rs. 2000 and applicable tax.
PDC Swap
Up to Rs. 200
How to apply for Kerala Gramin Bank Plot Loan with Dialabank
- The Kerala Gramin Bank plot loan can be viewed online at www.dialabank.com.
- Fill the form available at the top of the page with your details.
- Our Customer Relationship officer will get in touch with you.
- We will help you choose the right bank.
- You will be guided throughout the way.
Documents Required to get Kerala Gramin Bank Plot Loan
- Recent Passport Size Photographs.
- Fully filled Application Form
- Id proof
- Address proof
- Payslip for salaried
- Business proof for self-employed
- Sales deed of the property
Kerala Gramin Bank Plot loan with Construction vs Home Loan
Parameters | Land Loan with Construction | Regular Home Loan |
---|---|---|
Plot + Construction loan interest rates | Rates are the same for a home loan, but the plot + Construction Loan interest rates can be higher if you want the construction period to be longer than usual | Interest rates are start from 6.75% |
LTV | Up to 70% of the property’s value | Up to 90% of the property’s value |
Tenure | Up to 15 years | Up to 30 years |
Tax Benefits | The plot loan availed for construction and its benefits can be claimed post completion of the construction | On principal amount under section 80C and interest amount under section 24(b) |
Prepayment Penalty | Nil for individuals on floating rates | Nil for individuals on floating rates |
FAQs
✅ What is the plot loan interest rate in Kerala Gramin Bank?
It starts at 8.90%
✅What is Kerala Gramin Bank Plot Loan?
A plot loan will let the customer purchase a plot of land within municipal limits for a borrower’s personal use. This land can also be used for multiple purposes from investment to agricultural purposes.
✅How much processing fee is applicable on Kerala Gramin Bank Plot Loan?
It starts at 0.25%
✅What is the loan tenure of the Kerala Gramin Bank Plot Loan?
Up to 15 years
✅How much EMI per lakh can be fixed on Kerala Gramin Bank Plot Loan?
The EMI per lakh is decided upon by depends on the loan tenure and the loan amount.
✅How can I avail plot loan from Kerala Gramin Bank?
Every eligible customer can submit the documents to the bank and get maximum benefits.
✅How to apply for Kerala Gramin Bank Plot Loan?
Kerala Gramin Bank offers their plot loan on their website. The plot loan can also be applied at Dialabank on our website or by calling us.
✅How to repay the Kerala Gramin Bank Plot Loan earlier than the schedule?
Extra payments will let you repay the loan.
✅Is it possible to repay my loan earlier than the schedule?
A customer can do extra payments and repay the loan earlier than schedule.
✅How to check Kerala Gramin Bank Plot Loan eligibility?
By going to the Bank or checking online on Dialabank.
✅What is the Kerala Gramin Bank Plot Loan phone number?
The phone number is 9878981144
✅What is the Plot Loan interest rate for women?
It starts at 8.60% for women.
✅What is Kerala Gramin Bank plot loan interest rates for salaried individuals?
It’s between 7.05% to 8.00%
✅What is Kerala Gramin Bank plot loan interest rates for self-employed professionals?
It’s between 7.25% to 7.75%
✅What is Kerala Gramin Bank plot loan interest rates for self-employed non-professionals?
It’s between 7.25% to 7.75%
✅How is a plot loan different from a home loan?
A plot loan and home loan both helps you get the right house. However in case of plot loans, the plot can be left idle or used for many purposes.
✅Can I take a plot loan with a home loan?
A borrower cannot take a home loan with a plot loan.
✅What is the maximum amount that I can take as a loan?
The loan offers 70% LTV
✅Can a plot loan be taken on any plot, anywhere?
A plot loan can only be given to buy land within municipal limits.
✅What is a Balance Transfer on Plot Loan?
The Balance transfer on plot loan is 6.75%.
✅Do I get any tax benefits on a plot loan?
The tax benefits can be availed after the construction on it is completed.
✅How many years can I keep the plot of land before starting construction?
The construction has to start on time.
Table of Contents
- 1 Kerela Gramin Bank Plot Loan Features
- 2 Eligibility Criteria for Kerela Gramin Bank Plot Loan
- 3 Benefits of Kerela Gramin Bank Plot Loan
- 4 Plot Loan
- 5 Types of Plot Loan Kerala Gramin Bank Provides
- 6 Kerala Gramin Bank Plot Loan for Self-employed Individuals:
- 7 Who Can Apply for a Self-employed Kerala Gramin Bank Plot Loan
- 8 Types of Plot Loans for Self-employed Individuals
- 9 Kerala Gramin Bank Plot Loan Interest Rate for Self-employed Professionals
- 10 Kerala Gramin Bank Plot Loan Interest Rate for self-Employed Non-professionals
- 11 Kerala Gramin Bank Documents Required for Self-employed
- 12 Kerala Gramin Bank Plot Loan fees for Self-employed Individuals
- 12.1 Processing Fees:
- 12.2 Pre-payment Charges
- 12.3 Conversion Fees
- 12.4 Cheque Dishonour Charges
- 12.5 Fees on Account of External Opinion
- 12.6 Property Insurance
- 12.7 Incidental Charges
- 12.8 Statutory / Regulatory Charges
- 12.9 List of Documents
- 12.10 Photocopy of Documents
- 12.11 Increase/Decrease in Loan Term
- 12.12 Disbursement Cheque Cancellation Charge Post Disbursement
- 12.13 Re-appraisal of Loan After 6 Months from Sanction
- 12.14 PDC Swap
- 13 Kerala Gramin Bank Plot Loan for Salaried Individuals
- 14 Who can apply for a Salaried Kerala Gramin Bank Plot Loan
- 15 Types of Plot Loans for Salaried Individuals
- 16 Kerala Gramin Bank Plot Loan Interest Rate for Salaried Individuals
- 17 Kerala Gramin Bank Plot Loan Documents For Salaried Individuals
- 18 Kerala Gramin Bank Plot Loan Fees for Salaried Individuals
- 18.1 Processing Fees:
- 18.2 Pre-payment Charges:
- 18.3 Conversion Fees:
- 18.4 Cheque Dishonour Charges
- 18.5 Fees on Account of External Opinion
- 18.6 Property Insurance
- 18.7 Incidental Charges
- 18.8 Statutory / Regulatory Charges
- 18.9 List of Documents
- 18.10 Photocopy of Documents
- 18.11 Increase/Decrease in Loan Term
- 18.12 Disbursement Cheque Cancellation Charge Post Disbursement
- 18.13 Re-appraisal of Loan After 6 Months from Sanction
- 18.14 PDC Swap
- 19 How to apply for Kerala Gramin Bank Plot Loan with Dialabank
- 20 Documents Required to get Kerala Gramin Bank Plot Loan
- 21 Kerala Gramin Bank Plot loan with Construction vs Home Loan
- 22 FAQs
- 22.1 ✅ What is the plot loan interest rate in Kerala Gramin Bank?
- 22.2 ✅What is Kerala Gramin Bank Plot Loan?
- 22.3 ✅How much processing fee is applicable on Kerala Gramin Bank Plot Loan?
- 22.4 ✅What is the loan tenure of the Kerala Gramin Bank Plot Loan?
- 22.5 ✅How much EMI per lakh can be fixed on Kerala Gramin Bank Plot Loan?
- 22.6 ✅How can I avail plot loan from Kerala Gramin Bank?
- 22.7 ✅How to apply for Kerala Gramin Bank Plot Loan?
- 22.8 ✅How to repay the Kerala Gramin Bank Plot Loan earlier than the schedule?
- 22.9 ✅Is it possible to repay my loan earlier than the schedule?
- 22.10 ✅How to check Kerala Gramin Bank Plot Loan eligibility?
- 22.11 ✅What is the Kerala Gramin Bank Plot Loan phone number?
- 22.12 ✅What is the Plot Loan interest rate for women?
- 22.13 ✅What is Kerala Gramin Bank plot loan interest rates for salaried individuals?
- 22.14 ✅What is Kerala Gramin Bank plot loan interest rates for self-employed professionals?
- 22.15 ✅What is Kerala Gramin Bank plot loan interest rates for self-employed non-professionals?
- 22.16 ✅How is a plot loan different from a home loan?
- 22.17 ✅Can I take a plot loan with a home loan?
- 22.18 ✅What is the maximum amount that I can take as a loan?
- 22.19 ✅Can a plot loan be taken on any plot, anywhere?
- 22.20 ✅What is a Balance Transfer on Plot Loan?
- 22.21 ✅Do I get any tax benefits on a plot loan?
- 22.22 ✅How many years can I keep the plot of land before starting construction?