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2nd February 2018, 08:57 AM
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Join Date: Aug 2012
Re: Lakshmi Vilas Bank Details

About the Bank

Lakshmi Vilas Bank (Tamil) was founded in 1926 by a group of seven businessmen of Karur under the leadership of Shri V.S.N. Ramalinga Chettiar. Their objective was to cater to the financial needs of people in and around Karur who were occupied in trading businesses, industry and agriculture. The bank was incorporated on November 3, 1926

The Information About the Home Loan of the Lakshmi Villas Bank is given below


Lakshmi Vilas Bank is one of the leading banks in the country which offer housing loans for a wide range of requirements. With a pan-India presence, the home loans are offered to qualified individuals as well as HUFs under the aegis of a Karta. Home loan from LVB is available for the following purposes.

Purpose of Loan

For construction of a new house or a flat
For purchasing a new house of a flat
Towards home improvement services such as renovation, extension and furnishing
To carry out major repairs to an existing unit
For purchasing old houses
To purchase residential plot from reputed government and private agencies

Interest Rates

The present rate of interest is 9.55% (MCLR + 0.10%)

Since the fixed and variable component of the rate is subject to periodic revision, make sure to check with the nearest branch to confirm the prevailing rate

Loan margin:

The primary concern of a homebuyer is the extent of financing provided by the bank since it has the potential to influence the borrower s share in the project cost. With LVB, the loan margin is quite pleasing. For construction loans and finance taken for purchasing a new house/flat, the margin is 20 percent while loans for purchase of old houses or residential plots (approved) come with a margin of 25 percent.

Repayment Period

or loans taken for repair or renovation of an existing house, a maximum of 60 months (5 years) is the term offered. The same quantity is offered for loan taken for buying a residential plot as well.


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