4,80,000 people visited this section in last 30 days. Apply Online

Get Cashback of Upto ₹ 1,000* on Personal Loan Apply Online

MyLoanCare Customer Ratings - 4.5/5.0 Apply Online

Karur Vysya Personal Loan

Karur Vysya Bank Personal Loan

Last Updated 02nd Jun 2021

Karur Vysya Bank Personal Loan is the most popular personal loan in India given its low interest rates, quick approval, and online process. Key selling points of Karur Vysya Personal Loan are:

  • Karur Vysya Bank Personal Loan interest rate starts from 9.40%.
  • The processing fee charged on Karur Vysya personal loan is 0.40%.
  • Karur Vysya also offers pre-approved personal loans at low rates for customers with strong credit history and those with an existing account with the bank.
  • The bank has an online application process where the KYC and documents submission can be done digitally.
  • You can easily check the status of your Karur Vysya personal loan application status on a real time basis on the bank’s website or by visiting their customer care centre.
  • Karur Vysya has special schemes for different income and occupation groups.
Apply for Personal Loan @ 10.25%* Get upto ₹ 1,000* Cashback

Karur Vysya Personal Loan Details

  • Interest Rate on Karur Vysya personal loan ranges from 9.40% to 19.00%.
  • Lowest EMI per lakh works out to be ₹ 3,199 , as calculated on the lowest rate and longest loan tenure.
  • Personal Loans by Karur Vysya are available for salaried working with government, private sector, MNCs and self-employed professionals such as doctors within the age group of 25 to 60 years.
  • Loan amount can range from ₹ 50,000 to ₹ 10 Lakh
  • Karur Vysya Personal Loan can be availed for a period of 12 months and can go up to 36 months.
  • Processing Fees charged by Karur Vysya on personal loan is 0.40%%
  • Karur Vysya Bank allows personal loan foreclosure and part prepayment at Not allowed.
  • Schemes of Karur Vysya Bank as offered to different type of borrowers in 2021 are:

How to Get the Best Offer on Karur Vysya Personal Loan?

There are various factors that impact your chances to get the best offers on Karur Vysya Personal Loan, as listed follows:

  • Loan Amount - Karur Vysya Bank offers loans between ₹ 50,000 and ₹ 10 Lakh and charges lower rates on higher loan amount and vice-versa, so apply accordingly.
  • Salary - Karur Vysya Bank offers personal loan to all customers with a net take home monthly salary of more than ₹ 20,000. The rate of interest is higher if you fall in the low salary bucket and lower if you fall in higher income bucket.
  • Employer Category - Karur Vysya Bank has clubbed the companies in a high to low category based on internal assessment of company’s size, reputation, profitability etc. When you apply for Karur Vysya personal loan, the bank will decide on your interest rate based on the company category you fall in. MyLoanCare can also help you check which category of company you qualify in to help you get the best offer.
  • Relationship with the Bank - Karur Vysya Bank offers special rates to the existing customer of the bank, who have a high likelihood of getting loans at lowest interest rate starting at 9.40%
  • Credit Score - Karur Vysya Bank checks the CIBIL score of personal loan customers which has to be minimum of 650. Higher the CIBIL Score, higher is your chance of securing best offer.

Karur Vysya Personal Loan Documents

You require the following documents to avail personal loan from Karur Vysya

  • Filled up loan application form or an online form, if you are applying online
  • 2 Passport Size Photo
  • Identity Proof – One of the following: Driving License, PAN, Passport, Voter ID, Aadhaar Card
  • Residential Address Proof – One of the following: Registered Rent Agreement, Passport, Leave and License, Utility Bill of last three months
  • Income Documents – Copy of Form 16 of last 2 years, 3 month pay slip, 3 months bank statement showing salary credit and any EMI debit

Types of Karur Vysya Personal Loan Schemes

Karur Vysya Bank offers customized products for specific customer segments designed to meet their loan requirements. Some of the popular products with their basic features are as follows:

KVB Bon Voyage Loan
  • You can get KVB Bon Voyage Loan for personal travel for a tenure of 36 months.
Insta loan
  • Karur Vysya Bank Insta Loan is a personal loan designed for the permanent employees of reputed Govt institutions, private companies, and schools. The loan can be repaid within a repayment tenure of up to 72 months. The loan can be availed without any collateral and with NIL documentation charges.
  • KVB offers the quick loan that allows flexible repayment option to repay the loan in instalments or in full at the end of the loan tenure. The maximum loan amount that can be borrowed is Rs 25 lakhs. The loan also provides the overdraft facility for a maximum period of one year.

How to Apply for Karur Vysya Personal Loan?

The step-by-step procedure to get a personal loan online from Karur Vysya Bank is mentioned below:

  • Visit the official website of Karur Vysya Or contact your nearest Karur Vysya Bank branch.
  • Now, fill personal, professional and financial details as required by the lender and submit the form.
  • Once you have submitted the application form, Karur Vysya Bank will check your eligibility and provide you with information about the eligible amount you can avail.
  • If you agree to process the application, then you would be required to submit the essential documents which can also be uploaded online.
  • Finally, your documents will be processed by Karur Vysya Bank, and on successful approval of the loan, the funds will be disbursed to your Karur Vysya Bank account immediately.

You can also apply for Karur Vysya Bank personal loans by visiting their branch or by calling their customer care centre.Offline mode are mentioned below:

  • Visit the nearest Karur Vysya Bank branch and fill in the application form with the loan amount required, your personal details, occupation information and your contact number.
  • The Karur Vysya Bank representative will explain about the eligibility of the loan as well as the loan rates, terms as well as processing fees, prepayment and foreclosure clauses.
  • After submitting the application form and required documents, you will be provided with an application reference number. You can use the same number to track the status of your Karur Vysya Bank Personal Loan application.
  • On successful verification, the loan can get disbursed immediately after loan sanction and signing of the agreement.
Illustration on Personal Loan Karur Vysya
Maximum Annual Percentage Rate (APR) 9.53% to 19.13%
Representative example of the total cost of the loan, including all applicable fees
Here is an illustration of the total cost of the loan:
  • Total amount borrowed: ₹ 1,00,000
  • Time period: 12 Months to 36 Months
  • Karur Vysya Bank Personal Loan Interest Rate: 9.40% to 19.00%
  • Processing Fee payable to: Upto ₹ 400
  • Fee payable to MyLoanCare: NIL
  • Total Monthly Cost – From ₹ 3,199 for 36 Months ₹ 1,00,000 loan at 9.40% (lowest rate, longest time period) to ₹ 9,216 for 12 Months ₹ 1,00,000 loan at 19.00% (highest rate, shortest time period). This is inclusive of principal repayment.
  • Annual Percentage Rate (APR) of charge including all applicable fees: 9.53% to 19.13%
  • Total cost payable over loan tenure: ₹ 1,05,565 for 12 Months loan to ₹ 1,15,550 for 36 Months loan

Personal Loan from Other Banks in India

FAQs

How much time will the Karur Vysya Bank take to take a decision on my personal loan?

Banks generally convey their decision on a loan within 15 days of submitting a loan application. However, some banks also offer instant loan offers, which can be approved within a few hours to 2-3 days.

Why should I take a personal loan from Karur Vysya Bank ?

Below-mentioned is the reason why you must avail a personal loan from Karur Vysya Bank.

  • Fast track loan processing
  • Easy documentation with complete transparency
  • Guarantor is required

How much interest is charged by Karur Vysya Bank on personal loan?

Personal loan interest rates in Karur Vysya Bank are 9.40% to 19.00%. Karur Vysya Bank personal loan interest rate for salary account holders are comparatively lower than that for other customers.

What is the lowest EMI per lakh on personal loan from Karur Vysya Bank ?

If you apply for loan from Karur Vysya Bank, your lowest Personal Loan EMI per lakh will be ₹ 3,199 which corresponds to lowest interest rate of 9.40% and longest tenure of 36 years.

What is the minimum and maximum tenure of personal loan in Karur Vysya Bank?

Karur Vysya Bank personal loan has a minimum tenure of12 months to maximum 36 months.

How much personal loan amount I can borrow from Karur Vysya Bank?

Karur Vysya Bank offers you loan if you need a minimum amount of ₹ 50,000 to a maximum amount of ₹ 10 Lakh

Can I add my spouse's income while applying for personal loan from Karur Vysya Bank?

Yes, you can add the income of your spouse to increase your Personal Loan Eligibility andto get a higher loan amount from Karur Vysya . In this case, the bank will check the CIBIL score of your spouse and ask for all income and bank statements of your spouse for the purpose of processing your application

How can I get Karur Vysya Bank personal loan?

You can get a personal loan from Karur Vysya Bankby directly visiting the nearest branch or can apply online at their website. While these two are the traditional methods of applying, you can easily apply for the loan at MyLoanCare website where you can do a thorough comparison of all loan details, rates and charges before deciding to proceed with Karur Vysya’s application process.

How can I check my Karur Vysya Bank personal loan status?

You can check the status of your loan online and offline. Once you have applied for a personal loan from Karur Vysya Bank, you will be given an application number. You can use that application number and registered mobile number to check the status of your loan online at Karur Vysya Bank's website. In case you are unable to track your application online, you can get Karur Vysya Bank loan assistance at Karur Vysya Bank loan customer care centre and ask them to help you out with the status. If you have applied for the loan through MyLoanCare, you can check the status of your application by logging into MyLoanCare account.

What is the importance of credit score if I wish to avail a Karur Vysya Bank personal loan ?

It is important to have a good credit score if you wish to apply for a personal loan from Karur Vysya Bank. A credit score above 750 is considered good for a personal loan. A low credit score increases the chances of rejection of your application.

Is there security or collateral needed to get a personal loan from Karur Vysya Bank?

No, Karur Vysya Bank does not require any collateral or security to lend you the personal loan as it is an unsecured loan.

Can I close my Karur Vysya Bank personal loan after 1 year?

You can close your personal loan from Karur Vysya Bank after 0 months by paying charges: Nil prepayment charges

Can I negotiate with Karur Vysya Bank on the personal loan interest rate?

Yes, as a customer, you should negotiate for a rate discount when you apply. You may end up getting a better rate from the bank if you have applied for a high loan amount and are in a high income range working with a reputed company.

How to pay your Karur Vysya Bank personal loan EMI?

You can pay your Karur Vysya Bank personal loan EMI by using ECS facility or through Standing Instruction.Karur Vysya Bank also provides you the facility to pay your Personal Loan EMI online using net banking and mobile banking.


Notification ×
  • Home Loan

    Home Loan at all-time low rates starting at 7.45%. Cashback of up to ₹ 1,000.

    Apply Now
  • Personal Loan

    Instant Personal Loan starting at 10.25% with Cashback of up to ₹ 1,000 .

    Check Offers
  • Gold Loan

    Instant Gold Loan starting at 9.50% with Cashback of up to ₹ 500

    Apply Now
  • Loan Against Property

    Best Loan Against Property Offers starting @ 9.25%. Cashback of up to ₹ 1,000*.

    Apply Now
  • Business Loan

    Collateral Free Business Loan Rates starting at 14.00% with Overdraft facility.

    Apply Now
  • Fixed Deposit

    AAA rated FDs with returns as high as 6.95%.

    Invest Now
Karur Vysya Personal Loan News - Jun 2021
  • 2021-06-01 : Karur Vysya Bank posted 24% growth in Q4 net
    Karur Vysya Bank posted a 24% rise in its net profit at Rs 104 crore in the last quarter of the fiscal ended March 2021. The profit was boosted by retail loans home, LAP, personal, two-wheeler, car education and doctor loan along with business and mudra loan. The lender credit growth during the year was higher at 8.87% and gross advances reached Rs 52,820 crore.
  • 2020-07-30 : Karur Vysya Bank reported a net profit of Rs. 105.50 crore
    Karur Vysya Bank reported a 45% increase in net profit at Rs 105.50 crore in the first quarter ended June. The company has reported total income bolstered by retails loans like home, personal, gold, car and two-wheeler loans along with the Business and mudra loans of Rs.1693.23 crores during the period ended June 30, 2020, as compared to Rs.1803.15 crores during the period ended March 31, 2020.
  • 2018-07-25 : Karur Vyasa Bank reports Q1 result, net profit slumps 69%
    Karur Vyasa Bank reports 69% decline in net profit at Rs 45.9 crore against Rs 148 crore a year ago. Net Non-Performing Asset (NPA) grew by 4.50% against 2.85% the previous year. Meanwhile, the net interest income was up 583.9 crores compared to 538.6 crores previous year.
*Terms and conditions apply. Credit at sole discretion of lender, which is subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and collected from public sources. Read More
Loader
Please wait while your information is being processed...