Karur Vysya Bank Personal Loan Features
Eligibility Criteria | Details |
Karur Vysya Bank Personal Loan Interest Rate | 9.75% p.a. |
Lowest EMI per lakh | Rs 2112 |
Tenure | 12 to 60 months |
Karur Vysya Bank Personal Loan Processing Fee | 1% to 2% of Loan Amount |
Prepayment Charges | Allowed after 12 Months (2 – 4 %) |
Part Payment Charges | Allowed after 12 Months (2 – 4 %) |
Min Loan Amt | ₹ 50,000 |
Max Loan Amt | ₹ 75 Lakh |
About Karur Vysya:
Karur Vysya Bank is an Indian bank which has completed 100 years and it is one of the leading banks in India, and it’s headquartered in Karur ,Tamil Nadu. The was set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar.
What is Personal loan?
Personal Loan refers to the fixed amount which is borrowed by an individual at a fixed interest rate from a financial institution or an online lender and repay over a fixed tenure. Personal Loan is a type of unsecured loan which has an instant approval also hassle-free and less paperwork. It require minimum documentation and can be approved within a day.
Personal Loan Documentation :
- Residence proof: Firstly,the documents required for the residence proof includes: (passport/ID card/ Votercard/aadharcard/ration/card/driving license) and if the applicants are living in rental apartments then has to submit his agreement, electricity bill on his name and address of the owner.
- Self-employed: Beside that, the applicants of personal loan should file ITR for the last three months, and his business should be registered. Salaried applicants: The applicants have to his salary slip of last three months and bank statement of last six months.
- Identity proof : Further more, verification documents especially require one among the following:( passport/ID card/ Voter card/ aadhar card/ration/card/driving license) any one of them.
- Under KYC formality: In addition to, every applicant has to submit his pan card, which is an essential document.
- Two colored passport size photos: Lastly,(Applicants should not wear any glasses)
Karur Vysya Bank Personal Loan Eligibility:
For Salaried Individuals
Criteria* |
Salaried |
Age |
22 years – 65 years. |
Salaried individuals with minimum monthly income Rs.15,000 (Rs.20,000 for applicants residing in Mumbai & Delhi; Rs.18,000 for applicants residing in Chennai, Hyderabad, Bangalore, Pune & Kolkata; For Others Rs. 12,000) |
|
Total years in job/profession |
2 Years |
Years in current residence |
1 Year (One Day if in a Super A Company) |
For Self Employed Individuals
Criteria* |
Self Employed |
Age |
23 years (self-employed individuals) and 25 years (for doctors); Maximum age – 65 years |
Minimum Turnover |
Rs. 40 lakh for non-professionals; Rs. 15 lac for professionals; as per audited financials |
Minimum Profit After Tax |
Rs. 2 lac for Proprietorship Firm/Self-employed Individuals and Rs. 1 lac for non-professionals as per audited financials |
Business Stability |
In current business for at least 5 years and a minimum of 3 years for doctors |
Existing relationship with the bank |
Minimum 1-year liability relationship (current or savings account) or Asset relationship (loan) either live or closed in the last 36 months; repayment track as required |
Features:
- First of all Know your Personal loan eligibility in 1 minute, available online and across all branches.After that Highly competitive interest rates for personal loans.
- Besides that Special offers, interest rates and nominal charges for Karur Vysya Bank account holders.
- And Special personal loan offers* for women employees.
Benefits:
- First of all Simple documentation
- After that Competitive pricing
- Besides that personal loan disbursal is very quick.
- And Transparent procedure
Personal loans available for Marriage and other Personal Needs
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