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Lakshmi Vilas Bank Home Loans

For those people who are looking for a good loan product to buy their dream home, they can check out home loan schemes offered by Lakshmi Vilas Bank. Lakshmi Vilas Bank home loans come with a host of attractive benefits and terms to satisfy the home buying needs of the customers.

About Lakshmi Vilas Bank home loans

Lakshmi Vilas Bank home loans are available to the individuals and Hindu Undivided Families (HUF) with affordable interest rates. The loan programs boast flexible repayment schedules and convenient terms and conditions.

Eligibility criteria for Lakshmi Vilas Bank home loans

Given below are the eligibility criteria for Lakshmi Bank home loans:

Individuals and Hindu Undivided Families (running through Kartas) with satisfactory earnings and who can provide satisfactory evidence of such earnings by means of salary certificates/pay slips and Income Tax assessment orders and others can qualify for these loans under the Lakshmi home loan scheme.

Purpose of Lakshmi Vilas Bank Home loans

You can use a Lakshmi Vilas Bank home loan for the following purposes:

  • Purchase of a new flat/house built by a recognized contractor/promoter.
  • Construction of a new flat/house.
  • Renovations performed by proprietors of the houses.
  • Supplementary construction or modifications performed by the proprietors of the houses.
  • Purchase of sanctioned plots
  • Purchase of old houses

Margin for Lakshmi Vilas Bank Home Loans

The margin for Lakshmi Vilas Bank home loans is as follows:

  • 15% of the project cost for loans taken out for purchase/construction of new flat/ house
  • 25% of the purchase price for purchase of sanctioned plots/old houses



Repayment Term for Lakshmi Vilas Bank home loans

The maximum repayment term for a Lakshmi Vilas Bank home loan is 15 years or the borrower reaching the age of 65 years, whichever comes at the first place. A maximum holiday period of 6 months is permissible within the repayment period.

Interest rate on Lakshmi Vilas Bank home loans

The table given below will give you a clear idea about the interest rates applicable on home loan schemes offered by Lakshmi Vilas Bank:

Loans Interest Rate Applicable Processing Fees
Housing Loan (Lakshmi Home loan) Upto Rs. 30 lakhs Over Rs.30 lakhs  
Fixed Category      
Upto 5 years 11% per annum 11.25% per annum  
Over 5 Years and upto 15 Years 11.25% per annum 11.50% per annum 0.50% of the loan amount, subject to a
Floating Category     minimum amount of Rs.500/-
Upto 5 years BPLR - 4.75% BPLR - 4.50%  
Over 5 years and upto 15 years BPLR - 4.50% BPLR - 4.25%  


In a nutshell, Lakshmi Vilas Bank home loans are ideal home financing options for both individuals and Hindu Undivided Families. Both can use the loan for any purpose they might deem right.

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