MoneyLens / Home loans
Your loan, explained.
Home loan · Floating rate · Kaveri Bank Ltd · ••••7731
Illustrative
Your loan today
AccountStatement 5 OctContractAgreement + 2 rate notices
Outstanding principal
₹42,16,462
Statement · 5 Oct 2026
Current interest rate
8.50%
RBI repo rate 5.50% + 3.00% spread
Remaining loan period
16.3 years
196 EMIs · ends Feb 2043
Interest structure
Floating
RBI repo rate-linked · resets every 3 months
Balance, rate and remaining tenure come from your statement dated 5 Oct 2026 and the Jul 2025 rate notice, not the original sanction letter.
Myra's most important observations
Home loan closure & property documents
PreviewIllustrative workflow. Dates and tasks become active only when a closure is verified.
1Final repaymentVerify lender receipt and account settlementNot active
2No-dues certificateObtain closure confirmation and loan account statementNot active
3Original property documentsTrack document handover and acknowledgementNot active
4Charge / lien releaseVerify CERSAI, registry or other charge satisfactionNot active
5Auto-debit cancellationCheck NACH / e-mandate terminationNot active
6Credit-report updateVerify that the loan is reported as closedNot active
Original property documents
7✓Sale deedHeld by lender
✓Previous title deeds (mother deed)Held by lender
✓Allotment letterHeld by lender
✓Khata certificate and extractHeld by lender
✓Encumbrance certificate (13 years)Held by lender
✓Approved building planHeld by lender
✓Occupancy certificateHeld by lender
Contract vs account data
Rates, spreads and rights come from the sanction letter, KFS, agreement and rate notices. Balances, paid EMIs and charges come only from dated statements or lender letters. An original sanction letter alone can't establish today's balance.
Documents for this loan
Myra separates the KFS, sanction letter, agreement, welcome letter and statements, and uses the latest valid version.
4p
Sanction letter
10 Oct 2019 · Joint borrowers · 30-year limit
22p
Loan agreement
18 Oct 2019 · Prepayment and penal clauses
1p
Rate notice
24 Mar 2025 · 9.50% → 9.00% from 1 Apr 2025
1p
Rate notice
23 Jun 2025 · 9.00% → 8.50% from 1 Jul 2025
3p
Loan statement
5 Oct 2026 · Rate history · prepayment · balance
3p
Top-up sanction letter
12 Mar 2024 · ₹5 lakh · renovation
—
Key Facts Statement (KFS)
Needed to confirm a finding
Evidence and cited clauses
The quoted lines Myra relied on, and where each was used.
| Source | What it says | Used in |
|---|---|---|
| Sanction p.1 | Kaveri Bank Ltd, a scheduled commercial bank | Terms |
| Sanction p.1, cl. 2 | Loan sanctioned: ₹50,00,000 for purchase of Flat 1203, Tower B | Tax benefit · Net disbursement · Total cost |
| Sanction p.1, cl. 4.1 | 8.15% p.a. floating, linked to the RBI repo rate (repo + 3.00%), reset quarterly | Tax benefit · Total cost · EMI check |
| Sanction p.2, cl. 4.3 | On an upward revision the tenure may be extended, subject to a maximum loan term of 30 years | Terms |
| Sanction p.3, Annex B | Original documents to be deposited: sale deed, mother deed, allotment letter, khata, EC, approved plan, OC | Terms |
| Agreement p.9, cl. 9.2 | No prepayment or foreclosure charge on floating-rate loans to individual borrowers | Exit flexibility |
| Agreement p.10, cl. 10.1 | Penal charge of 2% per month on the overdue instalment | Terms |
| Rate letter p.1 | Revised rate of interest 8.50% p.a. w.e.f. 01-07-2025, following the reduction in the RBI repo rate | Rate came down |
| Rate letter p.1 | Your EMI remains ₹39,943; the balance tenure is revised | Rate came down |
| Statement p.1 | Principal outstanding as on 05-10-2026: ₹42,16,462 | Repayment progress |
| Statement p.1 | 20-03-2024 Part prepayment credited ₹1,50,000 | Repayment progress |
Rules used in this report
Each figure uses the rule in force on the date that matters: a sale, a sanction, a payment, or today. Worked out on 18 Oct 2026. Myra's rules table was last updated on 25 Oct 2026.
GST on lender fees
In force from 1 Jul 2017
Applied for 10 Oct 2019 (your sanction date); 18 Oct 2026 (today)
Prepayment charges (floating rate)
In force 7 May 2014 – 31 Dec 2025
Applied for 10 Oct 2019 (your sanction date)
RBI — Levy of foreclosure charges / pre-payment penalty on floating rate term loans
RBI circulars of May 2014 (banks) and 2014 (NBFCs)
Official site: rbi.org.in
GST on penal charges
In force from 1 Jan 2024
Applied for 5 Feb 2026; 18 Oct 2026 (today)
CBIC — Circular No. 245/02/2025-GST
245/02/2025-GST, 28 Jan 2025
Official site: cbic-gst.gov.in
Floating rate resets
In force from 1 Oct 2025
Applied for 18 Oct 2026 (today)
RBI — Reset of Floating Interest Rate on EMI based Personal Loans (as amended)
RBI/2023-24/55, 18 Aug 2023; amended 29 Sep 2025, in force 1 Oct 2025
Floating rate resets
In force 31 Dec 2023 – 30 Sep 2025
Applied for 1 Jul 2025
RBI — Reset of Floating Interest Rate on Equated Monthly Instalments (EMI) based Personal Loans
RBI/2023-24/55, 18 Aug 2023
Home loan tax benefit
In force from 1 Apr 2026
Applied for 18 Oct 2026 (today)
Income-tax Act, 2025 — Sections 22 and 123
Official site: incometaxindia.gov.in
Overdue loan classification
In force from 12 Nov 2021
Applied for 18 Oct 2026 (today)
RBI — Prudential norms on IRACP: clarifications
RBI/2021-2022/125, 12 Nov 2021
Official site: rbi.org.in
Penal charges on loans
In force from 1 Jan 2024
Applied for 18 Oct 2026 (today)
RBI — Fair Lending Practice: Penal Charges in Loan Accounts
RBI/2023-24/53, 18 Aug 2023
Return of property documents
In force from 1 Dec 2023
Applied for 18 Oct 2026 (today)
RBI — Responsible Lending Conduct: Release of Movable / Immovable Property Documents on Repayment / Settlement of Personal Loans
RBI/2023-24/60, 13 Sep 2023 · from 1 Dec 2023
Official site: rbi.org.in
RBI Ombudsman
In force from 1 Jul 2026
Applied for 18 Oct 2026 (today)
RBI — Reserve Bank – Integrated Ombudsman Scheme, 2026
Official site: cms.rbi.org.in
Your requests
2 openA ready request for each problem Myra found. Complaints go to the RBI Ombudsman if the lender doesn't fix them.
Document version history
10 Oct 2019
Sanction letter
Joint borrowers · 30-year limit
18 Oct 2019
Loan agreement
Prepayment and penal clauses
12 Mar 2024
Top-up sanction letter
₹5 lakh · renovation
24 Mar 2025
Rate notice
9.50% → 9.00% from 1 Apr 2025
23 Jun 2025
Rate notice
9.00% → 8.50% from 1 Jul 2025
5 Oct 2026
Loan statement
Rate history · prepayment · balance
Contract terms vs account data
Contract terms come from the KFS, sanction letter and agreement. Balances, paid EMIs and charges come only from statements or lender letters you upload, and always show their date. A brochure alone can't establish your current balance.