Kerala Gramin Bank (KGB) was formed by amalgamating the two RRBs of Kerala namely South Malabar Gramin Bank and North Malabar Gramin Bank through a notification by the government of India

The Kerala Gramin Bank provides Home Loan for acquiring house site and constructing house thereon.

Home Loans

Purpose :

For acquiring house site and constructing house thereon.

For construction of house on the land already owned by the party.

Purchase of ready built house or flat.

Eligibility :-

Individuals who are in gainful employment/profession/business are eligible.

The age of the applicant should not more than 55 years. In case spouse/son/daughter having earning / repaying capacities joining as co-borrower their age can be taken into account for determining the eligibility.

Quantum of Loan :-

80% of estimated cost of construction and cost of site.

Maximum loan is limited to 60 months salary to employees and 5 times average net annual income to other persons except NRE.

In the case of NRE the amount is limited to 4 times of the average net annual income.

Repayment :

Repayment in equated monthly /quarterly/ half yearly/ yearly installments based on the income generation of the borrower

Maximum repayment period is 30 years subject to the borrower attaining 70 years except in the case of NRE Where the repayment period is limited up to 60 years.

New schemes like PMAY, UHF and RHF with certain concessions are also introduced.

Security :

Equitable mortgage of land and building to be constructed/ to be purchased by bank finance. Value of land including development/ construction should be at least 125 %.

One Co-obligants having landed property / sufficient income from salary/other sources.

Contact-

Kerala Gramin Bank
PB No.10
Head Office
KGB Towers
AK Road, Uphill
Malappuram, Kerala, India
PIN. 676 505

0483 2734269, 2734925, 2735145, 2734903, 2734332
0483 2736987
kgbho@keralagbank.com