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Karur Vysya Bank Education Loan

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Fees & Charges

Promised Interest Rate

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Karur Vysya Bank made a humble beginning in 1916 with an initial capital of Rs.1 lakh in the textile town of Karur, Tamil Nadu. With over 97 years of banking expertise, KVB has grown massively to extend its footprint with branches and offices across the nation. The bank has over 572 branches and 1,617 ATMs in 18 states and 2 union territories.


The bank offers loans for education, specifically designed to meet the growing financial needs of aspirants who wish to pursue a course or achieve a degree of their choice. Study loans are extended for a wide range of graduate and postgraduate programs, professional courses in both domestic and foreign institutions.

Purpose of Loan:

To provide monetary assistance to Indian nationals who have secured admission to listed professional/technical courses in India or abroad from a recognised university/institution by means of a common entrance test.

Features & Benefits of Education Loan from Karur Vysya Bank:

Quantum of Loan Amount:

The quantum of loan disbursed is segregated on the basis of place of study. KVB offers a standard loan amount of up to Rs.10 lacs for inland studies and a maximum of Rs.20 lacs for overseas courses.

Loan Margin:

No margin is applicable for loan amount of up to Rs. 4 lacs. For any amount above this cut off, the margin is 5% for domestic study and 15% for studies in foreign countries.

Repayment Tenure:

A flexible repayment tenure ranging from 5 years with an upper limit of 7 years is provided by the bank in the form of monthly EMIs. The repayment holiday comes to an end upon completion of 1 year after the course/6 months after getting a job, whichever is earlier.

Rate of Interest on Education Loan:

The interest rate card of KVB for education loan is based on segregation by gender and sector. Interest rates may slightly vary based on the course undertaken and the loan amount. A snapshot of the slabs has been provided below for reference.

Loan Amount

Male Students

Female Students

Up to 7.50 Lacs

Base Rate + 3%

Base Rate + 2.50%

Above 7.50 Lacs(Priority Sector)

Base Rate + 3.50%

Base Rate + 3%

Above 7.50 Lacs(Non Priority Sector)

Base Rate + 4%

Base Rate + 3.50%

As seen above, the actual rate of interest is a combination of base rate (common for all lending products) and a fixed component on the basis of the type of loan. Do inquire with the nearest branch for periodical campaigns and offers for enhanced terms on the basis of the course/degree.

The rates are subject to revision on basis of market conditions/bank's discretion.

Loan Security:

Loan amount up to Rs.4 Lacs

No security required. Parents will sign in as co applicants

Amount from Rs.4 lacs to Rs.7.50 lacs

  • Parent(s) will sign as co applicant(s)

  • Collateral security by means of third party guarantee

Borrowing over 7.50 lacs

  • Parents will join as co applicants

  • Tangible collateral security of relevant value

  • Assignment of student’s future income from employment as loan security

Students who secured admission on management quota are also eligible for an education loan from Karur Vysya bank on the basis of state/central government norms.

KVB Education Loan FAQs:

  1. Is there a processing fee component involved towards handling the education loan application?
  2. Karur Vysya bank does not charge a fee towards education loan processing. Ideally, interest charges will the only major cost involved in the loan.
  3. I have decided to go for a study loan from KVB for my daughter who will be pursuing her masters in US. I have sufficient liquid assets equivalent to the loan amount. Can the collateral third party guarantee clause be waived?
  4. The “third party guarantee “clause is flexible and not mandatory. If the bank is satisfied with the net worth of parent(s), this condition can be waived on a case to case basis.
  5. What is the standard turnaround time (TAT) taken by KVB to process education loan application?
  6. The bank takes up to 15 business days to process study loan application (India and abroad), provided all relevant documents are in place. If there is a delay owing to paperwork or verification, the bank officials will inform you.
  7. I am an engineering student in 1st semester and need a standard configuration laptop computer towards project work. Am I eligible to approach KVB for funding the purchase? (Note: I have availed an education loan from this bank)
  8. Yes, you can. Please contact the relevant branch. The laptop will be hypothecated to the bank until full repayment of the loan.
  9. What are the documents required at the time of application for an education loan?
  10. The following documents (non-exhaustive) will be required.

    • Marks sheets/Convocation certificate of the last qualifying exam.
    • Proof of admission to the course along with details of expenses involved.
    • Bank account statements of all the borrowers and guarantors.
    • Passport size photographs, ID and residence proof. PAN details.
    • Statement of assets and liabilities of the borrower(s). IT returns statement, Income tax assessment.
    • If the course is being undertaken at a foreign university/institution, foreign exchange permit, scholarship details etc.

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Display of any trademarks, tradenames, logos and other subject matters of intellectual property belong to their respective intellectual property owners. Display of such IP along with the related product information does not imply BankBazaar's partnership with the owner of the Intellectual Property or issuer/manufacturer of such products.

Karur Vysya Bank Education Loan Reviews

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  • Karur Vysya Bank Education Loan
    "Excellent Service"
    0.5 5.0/5 "Blown Away!"
    In KARUR VYSYA BANK I was taken an educational loan on 8 years before. It was applied directly to bank and the process was good on time they have sanctioned the loan. The loan amount was sufficient for the tenure of 4 years, the rate of interest was nominal. Once closed the loan they have provided NOC letter on time.
    Was this review helpful? 0
    , chennai
    Reviewed on Jul 29, 2019
  • Karur Vysya Bank
    Karur Vysya Bank Education Loan
    0.5 4.0/5 "Great!"
    KARUR VYSYA BANK is the bank where i have taken the education loan and the process of getting the loan is difficult because the documentation process is delay but i got the loan for every semester. The rate of interest is nominal when compared to the others.
    Was this review helpful? 3
    , namakkal
    Reviewed on Feb 12, 2019
  • Karur Vysya Bank Education Loan
    "Very Good Service"
    0.5 4.0/5 "Great!"
    The process in getting this loan had been very good where it had been easy and smooth. The loan amount had been good and had fulfilled the requirements, i had taken this loan in the year of 2013 and had got closed in the year of 2018. But the interest rate with them had been a little high with them.
    Was this review helpful? 4
    , hyderabad
    Reviewed on Jul 17, 2018
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