Karur Vysya Personal Loan: Interest Rates, Eligibility, How to Apply

Karur Vysya Bank Personal Loan: Karur Vysya Bank offers personal loans up to Rs.25 lakh. The interest rate of this bank starts from 8.70% per annum and can be availed for repayment tenure of up to 5 years.

Karur Vysya Bank Personal Loan Details

loan amount up to Rs.25 lakh
Rate of interest 8.70% to 19% p.a.
repayment period 5 years
loan turnaround period CIBIL Score 750 or above
processing fee Up to 1.50% of the sanctioned loan amount
eligibility Salaried and self-employed professionals who are residents of India
bounce fee 750 per bounce
Minimum EMI Rs 2,061 per lakh

Benefits of taking a loan from Karur Vysya Bank

  • minimum interest rate
  • no guarantor needed
  • less paperwork
  • longer repayment period
  • Minimum income requirement
  • Attractive offers to pensioners

Documents Required for Karur Vysya Bank Personal Loan

Following are the important documents to be submitted while applying for personal loan from Karur Vysya Bank:-

  • Well filled application form
  • 3 passport size photographs
  • Identity Proof (Photocopies of Voter ID Card / Passport / Driving License / PAN Card)
  • Residence proof (photo copy of recent telephone bill / electricity bill)
  • Bank account/passbook details for the last six months
  • Form 16/IT Return for last two financial years for salaried employees
  • IT returns for three years for self-employed professionals

Karur Vysya Bank Personal Loan Interest Rate

Karur Vysya Bank offers varying interest rates according to its loan scheme eligibility conditions and the purpose of the loan. Karur Vysya Bank offers floating interest rates which are linked to MCLR.

type of loan Rate of interest
overdraft loan 9.50% to 10%
insta loan up to 11.00%
Easy Insta Loan up to 11.00%
Secured Personal Loan 8.70% to 11.70%
unsecured personal loan 12% to 19%
quick loan process 9.40% to 11%

What is the CIBIL score required for Karur Vysya Bank Personal Loan?

Your creditworthiness and repayment capacity is a very important factor in availing a personal loan from Karur Vysya Bank. This is determined by your CIBIL score which allows the bank to track your past credit history and repayments. A minimum CIBIL score of 700 is mandatory for any personal loan from Karur Vysya Bank.

Karur Vysya Bank Personal Loan Processing Fee & Other Charges

The processing charges for various loan schemes under Karur Vysya Bank Personal Loan are as follows:-

bon travel loan 0.30% of the loan amount or minimum 500
Swarnamitra Loan 0.50% of the loan amount
insta loan 0.50% of the loan amount, minimum Rs.1,000 + GST
Personal Loan (Secured/Unsecured) 1.50% of the loan amount
quick loan 500 rupees
IPO funding 1% of the loan amount, with a minimum of Rs 250 and a maximum of Rs 2,000

Karur Vysya Bank Personal Loan EMI Payment Methods

Your Karur Vysya Bank Personal Loan can be repaid in the following three ways.

Standing Instruction (SI) : If you are an existing account holder of Karur Vysya Bank, then standing instruction is the best mode of repayment. Your EMI amount will be automatically debited at the end of the monthly cycle from the Karur Vysya Bank account specified by you.

Electronic Clearing Service (ECS): This mode can be used if you have a non-Karur Vysya Bank account and you want your EMI to be automatically debited from this account at the end of the monthly cycle.

Post-dated Check (PDC) : You can deposit a post-dated EMI check from a non-Karur Vysya Bank account at your nearest Karur Vysya Bank center. A fresh set of PDCs will have to be submitted in a time bound manner. Please note that post dated checks will be collected only at non-ECS locations.

It is recommended that you opt for SI or ECS mode of payment for faster and less error probability as compared to the use of PDC.

Karur Vysya Bank Customer Care Number

For any queries or complaints, you can also call the customer care number :-

helpline number for india 1860 200 1916
outside India +91-30721916
E-mail Customersupport@kvbmail.com

What is the maximum repayment tenure for Karur Vysya Bank Personal Loan?

You can get up to 72 months depending on the type of plan you choose. For unsecured loans, the maximum repayment tenure is 60 months.

Do I need to provide any guarantor for personal loan from Karur Vysya Bank?

The guarantee is not mandatory, at the discretion of the sanctioning authority, you may be required to provide a guarantee from any person of sufficient income acceptable to the Bank.

To apply online from Karur Vysya Bank fill your details by clicking on the link given below :-

https://www.kvb.co.in/personal/loans/personal-loans/quick-loan/

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