How to get Karur Vysya Bank Personal Loan Apply, Eligibility, Interest Rate, EMI Calculator, Minimum Salary, Civil Score and more details that we read in this article please read till the last.
If you want to take advantage of Karur Vysya Bank Personal Loan then this article is for you. Personal loan comes under the category of an unsecured loan. This loan completely depends on the credit history of the customer.
Like other banks Karur Vysya Bank also provides personal loan facility to the customers. You have to apply online or offline to get this loan. In this article, we will know in detail what is Karur Vysya Bank Personal Loan, what is the interest rate, documents, eligibility etc. of this loan, so read this article till the end.
Karur Vysya Bank Personal Loan
You can take a personal loan for any of your personal expenses like marriage interest, medical emergency, travel, higher education, children’s fees etc. Karur Vysya Bank offers a variety of Instant Personal Loan schemes that you can take advantage of. Each personal loan has a different interest rate and loan amount. The amount disbursed under personal loan depends on the credit score of the applicant. The applicant must have a high CIBIL score to take Karur Vysya Bank Personal Loan. The interest rate of KVB Personal Loan starts from 9.40% per annum.
Many factors affect the eligibility of a personal loan, such as the applicant’s income, CIBIL score, age, type of employment, place of residence, repayment capacity, etc. If the applicant has a good CIBIL score and income and the applicant is an existing customer of the bank, then he can take advantage of the attractive interest rates of the bank.
Karur Vysya Bank Personal Loan Overview
- Loan Name: Karur Vysya Bank Personal Loan 2024
- Lender Name: Karur Vysya Bank
- Interest Rate: Starting from 9.40% p.a.
- Loan Amount : Up to Rs.300 Lakh
- Processing Fee: Up to 0.50% of the loan amount
- Loan Tenure: 72 Months
- Official Website: https://www.kvb.co.in/
- Learn Karuru Vysya Bank Wiki
KVB Personal Loan Interest Rate 2024
Karur Vysya Bank Personal Loan interest rate starts from 9.40% p.a. KVB Bank offers various types of personal loans and different personal loans have different interest rates. You can get the current running interest rate by visiting your nearest bank branch or by calling the customer care number.
Before taking personal loan, it is important for us to know about Personal Loan Interest Rate 2024. If you apply for that personal loan without knowing the interest rate of the loan, then you may have to face difficulties at the time of loan repayment.
You can see the interest rate of different types of Karur Vysya Bank Personal Loan in the table given below:
| Loan Name | Minimum interest rate | Maximum interest rate |
|---|---|---|
| Personal Loan Secured Others | 9.60% | 12.60% |
| Personal Loan Secured | 9.40% | 11.00% |
| Personal Loan Unsecured | 12.00% | 19.00% |
| Jewel Loan Personal | 9.50% | 9.85% |
| KVB Insta loans | 11.00% | 11.00% |
| KVB Quick Loan | 9.40% | 11.00% |
Karur Vysya Bank Personal Loan Schemes
The bank offers a variety of personal loan schemes. You can apply for the personal loan scheme you want to take advantage of. These personal loan schemes are as follows:
- Bon Voyage
- Jewel loan / Over draft
- Insta Loan
- Personal Loan (Secured / Unsecured)
- Quick Loan
- IPO Funding
Bon Voyage
- People living in India can take advantage of this KVB Bon Voyage Scheme for business or traveling abroad.
- Margin – 25%
- Processing Fee – 0.30%
- Repayment tenure of loan – maximum 36 months
- The applicant can take advantage of this personal loan for business or personal travel abroad.
- The guarantor can be any creditworthy person who is related to the borrower.
Jewel loan / Over draft Personal loan
- You can get this loan against gold jewelery and you can get this loan in just no time.
- The bank provides this loan to the customer in the form of Jewel Loan Overdraft (Swarnamitra) and Short-Term Loan (Jewel Loan – Non-Agriculture / Personal).
- Under this loan, you can take a minimum loan of Rs 5000.
- You can take a loan up to a maximum of Rs 75 lakh.
- The maximum repayment period of the loan is 12 months.
- Processing Fee – 0.50% of the loan amount.
- People who have gold jewelery can easily take advantage of this loan.
- This loan can be taken for personal purposes.
- The interest in this personal loan is to be paid monthly.
- The drawing power will be determined on the basis of prevailing gold rates notified by the bank at the time of renewal.
- No exchange of jewelery is allowed under this personal loan.
- The minimum interest rate of this loan is 9.50% to maximum 10.00%.
Insta Loan
- This personal loan can be availed mainly by the employees of reputed companies/schools/government institutions etc.
- These employees can take this Karur Vysya Bank Personal Loan for their personal expenses like marriage, education, medical etc.
- The maximum repayment period of the loan is 72 months.
- Documentation Fee – Nil
- Collateral Security – No
- It is a type of installment loan.
- This loan can only be availed by permanent employees who have minimum 2 years service and 1 year unexpired service, who are non-defaulters of any other bank or FI.
- The interest rate of this personal loan starts from 11.00% p.a.
Personal Loan (Secured / Unsecured)
- You can take advantage of this KVB Personal Loan to meet your personal needs.
- You can get a loan of minimum 50 thousand rupees.
- The maximum loan amount that can be availed is Rs 10 lakh.
- The maximum repayment tenure of the loan is from 1 year to 5 years.
- The entire process of personal loan is paperless.
- This loan is a short term, long term loan.
- The bank provides loan approval in just 15 minutes on the satisfaction of the credit history of the customer.
- The interest rate of this personal loan starts from 9.40% p.a.
Quick Loan
- You can take advantage of this loan to meet any of your personal or business needs.
- The special feature of this loan is that the customer can repay this loan in installment or in full at the end of the loan tenure.
- Processing Charge – Rs.500.
- Security of Bail – No
- The maximum loan amount you can get is Rs 25 lakh.
- This loan is a short term, long term loan.
- Overdraft is also allowed in this loan.
- The interest rate of the loan starts from 9.40% p.a.
IPO Funding
- People who want some financial help to invest in Initial Public Offering (IPO) of a company can take advantage of this Karur Vysya Bank Personal Loan.
- Margin – 50%
- You can get a loan of minimum 5 lakh rupees.
- You do not have to give any guarantee for this loan.
- This loan is a short term loan.
- This loan can be availed by an individual or a joint person (maximum 3).
- Repayment period of loan – Maximum 15 days from the date of loan disbursement
Personal Loan Secured Others
- The bank provides this loan to meet the rapidly growing personal and business financial needs.
- This loan can be taken both as Term Loan (EMI) and Overdraft facility.
- Under this loan, you can get a loan of minimum Rs 10 lakh and above Rs 300 lakh.
- The maximum repayment period of the loan is 100 months.
- Both residents of India and NRIs can apply for this loan.
- You can get this loan for any of your personal purposes like health, business, education, consumption etc.
- The loan process is completely paperless.
- If the credit score of the applicant is very good, this loan will be approved in just 15 minutes.
- The interest rate of this personal loan starts from 9.40% p.a.
KVB Personal Loan Eligibility Terms and Conditions
Only those individuals can apply for the loan who are eligible for this loan. As it is known that Karur Vysya Bank offers various types of personal loan schemes. The terms and conditions are also different for different loan schemes. You can see these terms and conditions below:
Terms and conditions for Bon Voyage
- Only Indian citizens or a person residing in India can take this loan.
- Foreign currency cannot be issued for travel to Nepal/Bhutan.
- In case of employment, the take home salary of the person should be at least Rs 1.80 lakh annually.
- The net take-home salary available to the customer after deducting the EMI of the loan shall be at least 25% of the gross salary indicated by the salary certificate/salary slip.
- The employer will have to give an undertaking on deducting the monthly installments and making the payment directly to the bank.
Terms and conditions for Jewel loan / Over draft
- The interest in this loan is to be paid monthly.
- At the time of renewal, the drawing power will be determined by the bank on the basis of gold rates.
- Only those people are eligible for this loan who have gold ornaments.
- No exchange of jewelery will be allowed.
- Once the overdraft account becomes irregular or overdue, all the provisions applicable to the jewelery loan (recovery by auction, etc.) will apply.
Terms and conditions for Insta Loan
- Net take home salary will be at least 25% of the gross salary after deducting the installments of the proposed loan.
- Financial availability of Corporates/Firms/Trusts etc. and ensuring that they are in existence and making profit for the last three years.
- Before approving the loan, the bank will verify the repayment capacity, creditworthiness, integrity, local status etc. of the applicant.
- Undertaking letter should be available from the competent pay disbursing authority.
- Temporary employees cannot apply for this loan.
Terms and Conditions for Personal Loan (Secured / Unsecured)
- Net take home salary will be at least 25% of the gross salary after deducting the proposed loan installments.
- It will be mandatory to give salary certificate for verification of repayment capacity.
- IT returns are mandatory for self-employed individuals to ensure income and repayment capacity.
- Before giving loan to the applicant, the bank branch will verify the credit history, repayment capacity etc. of the applicant.
- In the case of salaried employees, a commitment to deduct the loan installments and interest from the borrower’s salary will be insisted upon from the employer.
Terms and Conditions for Quick Loan
- Interest is to be paid for overdraft.
- ROI for overdraft will be reset at the time of renewal.
- OD is allowed for a maximum period of one year.
- Loan will not be provided on the application of minors.
- LIC policies will not be accepted as securities in this loan scheme.
Terms and Conditions for IPO Funding
- The person applying should have a savings account with KVB Bank.
- The applicant should have a demat account with this bank or with one of the approved DPs like M/s.
- The name and serial number of the applicant should be the same in all the records.
Terms and Conditions for Personal Loan Secured Others
- The eligibility to apply for this loan will be worked out on the basis of the average income of the latest three years as declared in the ITR.
- Applicant should have minimum income of Rs 15000 per month.
- Residential and commercial buildings owned by residents of India will be accepted as securities.
- Factories, cinema halls, agricultural properties, godowns, schools, restaurants etc. will not be accepted as securities.
Karur Vysya Bank Personal Loan Documents Required
Before applying for the loan, you should keep all your documents together so that whenever the bank asks you for documents, you can show them all the documents immediately. For more information about the documents, you can get information from your nearest bank branch or from the customer care number of the bank. Some of the time documents are as follows:
- Photo Identity Proof (Any Document): PAN Card, Voter ID Card, Aadhar Card, Passport, Driving License.
- Address Proof (Any Document): Ration Card, Passport, Electricity Bill, Telephone Bill, Sale Deed/Property Purchase Agreement (for owned properties), Aadhar Card, Driving License, Bank Account Details.
- Salary Proof: Last 3 Months / 6 Months Bank Details, Latest Salary Slip.
Karur Vysya Bank Personal Loan Apply
If you fulfill all the conditions of this loan then you can apply online and offline for this loan. Information about the process of applying is given here.
KVB Personal Loan Apply Online
- To apply online, you have to first visit the official website of the bank www.kvb.co.in.
- On the home page of the website, the option of Personal > Loans > Personal loans will appear, click on it.
- After clicking, all the loan schemes will appear in front of you on the next page.
- Click on the personal loan scheme you want to apply for.
- On the next page, all the information related to that loan will come in front of you. You have to check all this information correctly.
- To apply, you will see the option of Apply Now on this page, click on it.
- A form will open in front of you.
- You have to enter all the information asked in this form and submit the form.
- After submitting the form, the bank will contact you and the loan process will be issued further.
How to apply offline?
- To apply offline, you have to first go to your nearest bank branch.
- You have to contact the bank employee by going to the bank branch.
- The bank employee will provide you all the information related to Karur Vysya Bank Personal Loan.
- After that your documents will be verified and you will be given a form.
- You have to fill the form correctly, attach your documents and submit the form there.
- After that the loan process will be released further.
KVB Personal Loan EMI Calculator
Before applying for the loan, you should calculate the EMI (Equated Monthly Installment) of your loan so that you can get an idea of how much you will have to pay at the time of loan repayment. You can calculate the EMI of your loan by visiting the official website of the bank with the help of Personal Loan EMI Calculator. Loan EMI mainly depends on three factors – loan amount, interest rate and loan tenure. If you apply for that loan without calculating the EMI of the personal loan, then you may have to face difficulties at the time of repayment of the loan.
Karur Vysya Bank Personal Loan Customer Care Number
If you have any other type of information regarding KVB Personal Loan, then you can get information by calling Karur Vysya Bank Personal Loan Customer Care Number.
- Helpline (Domestic) : 1860 258 1916
- Helpline (Outside India) : +91 44 – 66217600
- Email : [email protected]
Conclusion:
In this article, we have provided you complete information about How to get Karur Vysya Bank Personal Loan. Any person who wants to get a personal loan from this bank can read this article to know about the complete process of applying for a personal loan.
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FAQs on KVB Personal Loan
How much loan can I take under personal loan from Karur Vysya Bank?
Upto 300 Lach
What is the Karur Vysya Bank personal loan interest rate?
Start from 9.40% p.a.
How to apply for Karur Vysya Bank Personal Loan?
Complete information about applying for this loan is given in this article.