Whether the EMI remains constant or changes during the loan tenure depends on the type of home loan you have taken. Let's explain this in detail. 

Home loans at Karur Vysya Bank are of two types:

  • Fixed-Rate Home Loans 
  • Floating Rate Home Loans

Fixed-Rate Home Loans

Floating Rate Home Loans 

The interest rate is fixed during home loan sanction.

The interest rate is linked to external REPO rates.

Remains the same during the entire loan tenure.

Changes depending on changes to external REPO rates.

EMI is constant for the entire loan tenure.

EMI changes with variations on external rates. 


Additional Read: What’s the difference between fixed vs variable interest rate home loans? 

Fixed-Rate Home Loans at KVB

So, if you have taken a fixed-rate home loan, then the EMI remains unchanged throughout the loan tenure. The EMI changes only if you make part payments or request for a change in the term. 

Floating-Rate Home Loans at KVB 

In floating-rate home loans, the EMI changes periodically. 

  • The EMI decreases if external REPO rates fall.
  • On the other hand, the EMI increases if external REPO rates rise 

If you’re not sure of the type of home loan you have taken, you can connect with the customer care team at KVB via the helpline number 1860 258 1916 and provide your loan number to get further details on it.