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    We found 1 Karur Vysya (KVB) Personal Loan Eligibility Calculator
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    12.95% - 15.45% Floating
    0.40% One time fee
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    1-3 Years
    Response Time : Within 30 minutes
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    Karur Vysya (KVB) Personal Loan Eligibility Calculator is Rated as "Pretty good" by 6 Users

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    Karur Vysya (KVB) Personal Loan Eligibility Calculator

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    About Karur Vysya Bank Personal Loan

    Karur Vysya Bank offers personal loans with flexible spending options for individuals at competitive interest rates and with many repayment options. You can use these funds to meet the large expenses that your savings can’t cover like a child’s wedding or education, a large asset for your business, or even a family holiday. Personal loans have incredible flexibility in the way they can be spent, and Karur Vysya Bank offers personal loans that are among the best on offer.

    Karur Vysya Bank Personal Loan Eligibility

    The basic eligibility criteria for a personal loan from Karur Vysya Bank is as follows:

    For salaried individuals:

    Age: Applicants must be between 21 and 58 years of age to apply for a Karur Vysya Bank personal loan.

    Work experience: Applicants must have been employed for a minimum total of 2 years and at least 1 year with the current employer.

    Income requirement: Applicants must furnish income details through salary slip.

    Security: Applicants must cover their loan amount with National Stock Certificates (NSCs), Kisan Vikas Patras (KVPs), IVP, RBI Bonds, LIC policies, bank deposits, etc.

    Guarantor: Salaried employees must provide a colleague drawing the same salary as a guarantor in case none of the above securities can be submitted.

    For self-employed individuals and working professionals:

    Age: Applicants must be between 21 and 58 years of age.

    Income requirement: Working professionals and self-employed persons must furnish income proofs.

    Security: Applicants must cover their loan amount with National Stock Certificates (NSCs), Kisan Vikas Patras (KVPs), IVP, RBI Bonds, LIC policies, bank deposits, etc.

    Guarantor: In case applicants cannot provide the above securities, a suitable guarantor with sufficient net worth must be accepted by the bank.

    Factors affecting Eligibility of Karur Vysya Bank Personal Loans

    Karur Vysya Bank, like any other lender, will primarily base the eligibility of an applicant on his/her ability to repay the loan and security. Some of the primary factors that affect the bank’s confidence in your ability to repay are:

    • Income. Your level of income dictates how much you will be able to pay back as EMIs, this directly affects the total loan amount that can be sanctioned. Hence, the higher your income, the more likely you are to be approved for a personal loan from Karur Vysya Bank.
    • City of residence. It’s far easier to get a loan sanctioned in a metro city like Bangalore, Chennai, Mumbai or Delhi then it is in other cities.
    • Your age. If you’re too young, you’re a risky candidate as young salaried people shift jobs often to exploit opportunities, but there’s a chance that one job shift might fail, and leave you unable to repay EMIs.
    • Type of employment. Salaried individuals and salaried get regular incomes on fixed dates and can have EMIs due deducted directly from their salary accounts. Self-employed people must rely on market conditions and the demand for their products in order to earn an income. Karur Vysya Bank also has different securities requirements for salaried and self-employed persons.
    • Residence type. Applicants who live in a residence that’s owned by them are more likely to get a loan approved, and on better terms. This because there’s no part of their income being spent on rent, and the bank has a location owned by the applicant in which to locate him/her. People living in rented houses must pay an amount of their salary as rent, lowering the disposable income left over to pay EMIs. Also, it’s easier for a person living in a rented place to abscond in case they feel they cannot keep up with EMI payments.
    • Duration of residence in application location. How long you’ve been living and working in the location from which you’re applying for a loan has a huge impact on your eligibility. The longer you’ve been living in a certain place, the higher are the chances of getting a personal loan approved on your terms. Karur Vysya Bank will give more preference to applicants who’ve lived in the city for longer.
    • Securities: Karur Vysya Bank requires securities and guarantors against their personal loans. Applicants holding securities like NSCs, KVPs, IVPs, RBI Bonds, LIC policies, etc. are more eligible than those who do not. Guarantors must be people with a high enough net worth, or a colleague drawing the same income, to be accepted by the bank.

    How CIBIL score affects your Karur Vysya Bank Personal Loan Eligibility?

    When it comes to loans, a CIBIL score that’s over 700 will merely enable you to be eligible, but a score above 800, and closer to 900 will increase Karur Vysya Bank’s confidence in your ability to repay your loan.

    Your previous loan and credit card repayment history will also play an important role in instilling confidence in Karur Vysya Bank that you can and will repay your personal loan, as all this information is available in the CIBIL credit report.

    Your CIBIL credit report also contains details of the types of loans you’ve taken in the past. A ratio that shows you’ve taken more secured loans than unsecured loans works in your favour.

    In the past, if you’ve been unable to repay your loan and have arranged for a settlement with the bank, Karur Vysya Bank will consider this to be a negative mark and will reduce your personal loan eligibility.

    How to increase Karur Vysya Bank Personal Loan Eligibility?

    • Maintain a clean credit history. Ensure that you always clear your debt, on time and on the terms you’ve agreed on with the lender. This increases your CIBIL score, and eligibility.
    • Lower EMIs on existing loans. A large factor that affects your eligibility is whether you already have a loan on your name for which you’re making EMI payments. It’s advised to take loans for longer tenures, as the EMIs paid monthly will be lower, thus showing that you have more funds to pay your Karur Vysya Bank personal loan back with.
    • Prepayment. Paying off your existing loans before taking a new one is highly advised. A lump sum prepayment will settle your existing loan, increasing your eligibility for your new Karur Vysya Bank personal loan.
    • Maintain a good mix of secured and unsecured loans. Secured loans are looked at more favourably.
    • Don’t over leverage yourself. Applying for too many loans and paying off 2-3 EMIs every month can take its toll on your financial (and mental) health.

    FAQs on Karur Vysya Bank Personal Loan Eligibility

    Q.What are the age limits for individuals who wish to get a personal loan from Karur Vysya Bank?

    A. Applicants must be between 21 and 58 years of age to apply for a Karur Vysya Bank personal loan.

    Q. Is there any collateral or guarantor required for Karur Vysya Bank personal loans?

    A.Yes. In order to secure a personal loan from Karur Vysya Bank, one must pledge securities in the form of NSCs, KVPs, IVPs, LIC policies, RBI Bonds, land a building, etc. If these are unavailable, a guarantor is required to be accepted by the bank.

    Q. What does Karur Vysya Bank look for in a guarantor before approving the same?

    A. For salaried individuals: that are taking unsecured loans, the bank requires them to bring forth a colleague who draws the same salary as the applicant.

    For self-employed persons: that require personal loans without providing security, the bank requires them to bring forth a suitable guarantor with sufficient net worth.

    Q. What is the maximum amount that can be sanctioned through Karur Vysya Bank personal loans?

    A. Loans are sanctioned up to Rs.100 lakh.

    Q. Are there any processing charges?

    A. Yes, there is a processing charge of 0.40% of the personal loan.

    Q. What is the maximum repayment tenure for a personal loan from Karur Vysya Bank?

    A. Loans can be repaid in tenures up to 36 months with EMIs.

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  • Personal Loan Reviews

    • Karur Vysya Bank Personal Loan
      "The best service"
      0.5 5.0/5 "Blown Away!"
      Karur Vysya Bank offered me the personal loan. The documentation part was very simple, they asked me the documents which was easy to produce. I submitted form16, last six month bank statement and salary certificate along with the signature of my institute. Hardly they had taken four days, they delivered such a fast service. I felt easy to go with Karur Vysya Bank. They are good enough.
      Was this review helpful? 1
      , erode
      Reviewed on May 25, 2017
    • Karur Vysya Bank Personal Loan
      "Good"
      0.5 3.0/5 "Satisfactory"
      I took personal loan with the Karur Vysya bank before some long time and the interest rate was okay with them. Executives were really friendly with the customers on that time and it took around two weeks of time to get the loan amount to be get disbursed to the account.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Mar 18, 2017
    • Karur Vysya Bank Personal Loan
      "Smart"
      0.5 4.0/5 "Great!"
      Based on the exsisting relationship that I have with KVB,I had filled in an application form. That would be all, the rest was taken care by KVB. The management looked in to it and processed by loan. Ofcourse, I was offered a prefential rate of interest but the processing fee is a standard one for all. Best of all, they did not ask for any documents.
      Was this review helpful? 0
      , erode
      Reviewed on Sep 08, 2016
    • Karur Vysya Bank Personal Loan
      "Understand your customers"
      0.5 3.0/5 "Satisfactory"
      Karur Vysya bank has offered me a personal loan because my MD has recommended me. The process for the loan was quick. They offered me a good rate of interest of 13.9%. But they have given me a EMI date of 29th. So have requested them to change it to the 1st of the month as it would be more convenient for me to pay my EMI. But they have not taken up my request. So when ever there is a late payment. They take the interest rate accumulated for those few days.
      Was this review helpful? 4
      , hyderabad
      Reviewed on Oct 22, 2015
    • Karur Vysya Bank Personal Loan
      "Good"
      0.5 4.0/5 "Great!"
      I got the personal loan with the Karur Vysya Bank for the interest as 9% and am happy with this. Within a week of time I got the loan to be disbursed in my account. Faster process and the less rate of interest is the best with them. From the last 4 years I been with them by having the business account.
      Was this review helpful? 4
      , tirupati
      Reviewed on Oct 05, 2015
    • Karur Vysya Bank Personal Loan
      "Best for loan trasnfer"
      0.5 2.0/5 "Expected more"
      KVB personal loan process is good. My opinion is they should try and create exception. They require a lot of documents and they took more than 40 days of time to provide the loan. Interest rate and processing fee charged by them is fine. There is no issue or hassle with them. I am very much happy with the level of service offered by them. Its an ongoing loan. Interest rate offered by them was 13.99%. It would be great if they were able to take over all the bank loan in one short .
      Was this review helpful? 11
      , hyderabad
      Reviewed on Jun 19, 2015
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