Karur Vysya Bank's education loans for courses can be utilised to realize your dreams of higher education both abroad and in India. These loans have several unique features as well as competitive interest rates. Also There are special government schemes for students from the minority community that can be accessed through Karur Vysya Bank. Karur Vysya Bank offers Education Loans with interest rates ranging from 11.00 p.a. to 13.50% p.a.
The interest rates for education loans from Karur Vysya Bank are as follows:
Schemes | Maximum Loan Amount | Interest Rates (p.a.) |
KBL Education Loan |
| 11.00 p.a. to 13.50% p.a. |
The Karur Vysya Bank education loan EMI calculator is a helpful and free online tool to help you calculate your Equated Monthly Instalments accurately, precisely, and quickly.
Just enter the prevailing education loan interest rate of Karur Vysya Bank, the repayment tenure you have chosen (maximum of 7 years), and the loan amount sanctioned or which you are applying for. Click on the 'Calculate' button and the amortisation table and the other details will be instantly displayed on the screen.
For Example: For a Karur Vysya Bank educational loan of Rs.10 lakh with an interest rate of 10.60% and a tenure of 7 years, you will be paying the following as EMI, interest, and total amount:
The amortisation table for the loan will be as follows:
Year | Principal Paid(A)1 (in Rs.) | Interest Paid(B) (in Rs.) | Total Payment (A+B) (in Rs.) | Outstanding Loan Balance (in Rs.) |
2025 | 1,42,204 | 60,752 | 2,02,956 | 4,94,847 |
2026 | 1,58,032 | 44,922 | 2,02,954 | 3,36,815 |
2027 | 1,75,623 | 27,333 | 2,02,956 | 1,61,194 |
2028 | 1,61,194 | 7,935 | 1,69,129 | 0 |
You can apply for the education loan from Karur Vysya Bank in two ways:
Step 1: Visit the nearest Karur Vysya Bank branch.
Step 2: Request the Education Loan Application Form from the bank official.
Step 3: Fill in the form carefully with all required details, including student information, course, institution, and loan amount.
Step 4: Gather all the necessary documents, such as:
Step 5: Submit the completed application form along with the required documents to the concerned bank official.
Step 6: The bank will review your application and contact you for any additional information or verification.
Step 7: Once approved, the loan will be sanctioned and disbursed as per the bank’s terms and conditions.
Step 1: Visit the official Karur Vysya Bank website.
Step 2: Click on “Apply Now” or “Apply Online” under the education loan section.
Step 3: Fill in the online application form with accurate details about the student, course, institution, and loan amount.
Step 4: Upload scanned copies of the required documents, including:
Step 5: Review all the details carefully and click Submit. You will receive an acknowledgment receipt.
Step 6: You will be redirected to the Vidya Lakshmi Portal to complete the application.
Step 7: On the Vidya Lakshmi Portal, register or log in, verify your details, and submit the final application for processing.
Step 8: Track your application status on the Vidya Lakshmi Portal until approval.
The subsidy loan scheme provided by Karur Vysya Bank is:
This is a scheme sponsored by the Central Government for students who belong to minority communities to enable them to pursue higher education in foreign colleges or universities through subsidy on the interest of the education loan. To be eligible for this scheme, the student's family income should not exceed Rs.6 lakh. Master's degree, postgraduate degree, M.Phil, and Ph.D. level courses are eligible for the loan subsidy under this scheme.
These are the features of the KVB Education Loan:
Karur Vysya bank does not charge a fee towards education loan processing. Ideally, interest charges will be the only major cost involved in the loan.
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.
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.
Yes, you can. Please contact the relevant branch. The laptop will be hypothecated to the bank until full repayment of the loan.
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