Multiple banks. Different interest rates. Call it a "conflict of interest".
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We found 1 Karur Vysya (KVB) Personal Loan Interest Rates
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Interest Rate Range
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12.95% - 15.45% Floating
0.40% One time fee
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1-3 Years
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Karur Vysya (KVB) Personal Loan Interest Rates is Rated as "Excellent!" by 12 Users

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Karur Vysya (KVB) Personal Loan Interest Rates

KVB Personal Loan Interest Rates 2018
Particulars Salaried Self-Employed
Interest rate 13.90% p.a.(secured loans) 16.40% p.a.(unsecured loans) 13.90% p.a.(secured loans) 16.40% p.a.(unsecured loans)
Loan Amount Rs.50,000 to Rs.1 lakh Rs.50,000 to Rs.1 lakh
Loan Tenure 1 to 3 years 1 to 3 years
Lowest EMI Rs.3,413 per Rs.1 lakh Rs.3,413 per Rs.1 lakh
Processing Fee 0.40% to 1% of the loan amount 0.40% to 1% of the loan amount
Age 21 to 58 years 21 to 58 years
Prepayment Charges NA NA
Foreclosure Charges NA NA

Karur Vysya offers four different personal loans under its personal loan scheme, each designed to cater to the unique needs of a customer. The Bank offers loan under the titles, “Bon Voyage”, “Insta Loan”, “Personal Loan” and “Quick Loan”. Interest rates charged by Karur Vysya are extremely competitive in today’s market, ensuring that a personal loan repayment doesn’t become expensive and burdening. The bank follows a simple and hassle free loan application process, keeping in mind the needs of a customer.

Karur Vysya Personal Loan Interest Rates

Karur Vysya charges different interest rates for different loans, depending on the borrower and need for the loan. The Base Rate (BR)charged by Karur Vysya is 10.75% per annum (effective 23/01/2015), and this forms the basis for interest rates for other products. Karur Vysya interest rates for the year 2015 are mentioned below.

  • Secured personal loans attract an interest rate of 14.25% per annum whereas the interest rate on an unsecured personal loan is 16.75% per annum.
  • A fully secured Bon Voyage loan comes at an interest of 16.75% per annum while a partly secured Bon Voyage loan has an interest of 18.25% per annum.
  • Insta loans from Karur Vysya come at an interest of 14.25% per annum if a borrower opts for floating rates (BR + 3.5%) and at 14% per annum if a fixed interest rate is chosen.
  • Quick loans come at an interest rate of 14% per annum.

How to calculate EMI on your Karur Vysya Personal Loan

Karur Vysya offers borrowers the opportunity to repay their loans through flexible EMIs. Knowing the EMI amount is an extremely important factor when it comes to loan repayments, as it enables a borrower to plan his/her finances accordingly. EMI calculations on Karur Vysya personal loans are an extremely simple affair, thanks to Bankbazaar. An individual wishing to know his/her EMI just needs to enter the loan details in the EMI calculator on the website and the results are automatically displayed in a simple and easy to understand format.

An amortization table provides a systematic breakdown of the entire loan repayment process, showing the variation between the Principal and Interest components for a particular loan. Post each EMI payment the principal amount reduces and it is this reduced principal amount which is used to calculate the interest for the next term.

Example: Mr. Venkat borrows a sum of Rs 1 lakh from Karur Vysya Bank at an annual interest of 14% and a tenure of 5 years. His EMI comes up to Rs 2,327 per month. The amortization table below indicates the amount he would need to pay every year in order to repay the loan.

Loan Amortization Table

Year Principal paid (Rs.) Interest paid (Rs.) Balance amount (Rs.)
Year 1 14,851 13,071 85,149
Year 2 17,069 10,853 68,080
Year 3 19,618 8,304 48,463
Year 4 22,548 5,374 25,915
Year 5 25,915 2,007 0

Factors affecting your Karur Vysya Personal Loan Interest Rates

There are multiple factors which could impact the interest rate an individual pays for a Karur Vysya personal loan, some of which are mentioned below.

  • Repayment capacity - The repayment capacity of an individual could change the interest rates charged by the Karur Vysya, with a possibility that the bank might charge a lower rate to someone who has limited means to repay a loan.
  • Loan tenure – The tenure of a personal loan has a bearing on the interest rates and loans for short tenures could command a higher interest rate compared to loans for longer tenures.
  • Relationship with Karur Vysya– Individuals having a good relationship with Karur Vysya might be in a better position to negotiate their interest rates, depending on their past behaviour and personal standing. It is possible for banks to reduce interest rates for valued customers who have shown commitment to their payments in the past.
  • Employment details – Interest rates vary depending on the profession of a borrower. Salaried borrowers might be charged a lower interest rate as they have a stable source of income and there is little risk of them defaulting on payments. Self-employed borrowers might not have a regular source of income and might have to pay a higher interest rate.
  • Age – Pensioners can avail a personal loan at lower interest rates compared to others, primarily because Karur Vysya does not want to burden them with exorbitant interest rates.

Note: Interest rates charged by Karur Vysya are at their sole discretion and subject to change.

How CIBIL score affects Karur Vysya Personal Loan Interest Rates

Banks, including Karur Vysya rely on the CIBIL score of an applicant to gauge his/her creditworthiness and loan repayment capacity. An applicant with a good CIBIL score can negotiate when it comes to interest rates and could possibly get a loan at low rates. An applicant with low CIBIL scores would not be in a position to discuss interest rates and would have to pay the rate decided by the bank.

Key things about Karur Vysya Personal Loan Interest Rates

  • Security and collateral have a major impact on interest rates charged by Karur Vysya, with secured loans available at lower interest rates compared to unsecured or partially secured loans.
  • Borrowers can choose between fixed and floating interest rates, where a floating interest rate varies according to Karur Vysya’s prime lending rate.
  • Changes in repo rates could have a bearing on interest rates charged by Karur Vysya.

KVB Personal Loan Interest Rates Reviews

  • Karur Vysya Bank Personal Loan
    "Very Good Service"
    0.5 4.0/5 "Great!"
    I had taken this loan a very long time back and the experience with them has been quite good. The interest rate with them has been quite nominal and the processing fee has not been too high. The process in getting the loan has also been quick where it was not time taking.
    Was this review helpful? 0
    , coimbatore
    Reviewed on Nov 24, 2018
  • Karur Vysya Bank Personal Loan
    "Overall good"
    0.5 5.0/5 "Blown Away!"
    Karur Vysya Bank has provided a simple rate of interest of 6% on the personal loan. The customer services and response is excellent. I got the loan on time and as I needed. The after loan services are also good and it was a very good experience overall.
    Was this review helpful? 4
    , bangalore
    Reviewed on Sep 06, 2018
  • Karur Vysya Bank Personal Loan
    "Best Service"
    0.5 5.0/5 "Blown Away!"
    My personal loan experience was very good with Karur Vysya bank, the loan amount was for Rs 1.5 lakhs with nominal interest rate when compared to other nationalized banks. Customer service was good and they followed up on time. The tenure period for this loan is 2 years.
    Was this review helpful? 3
    , chennai
    Reviewed on Jul 20, 2018
  • Karur Vysya Bank Personal Loan
    "Very good"
    0.5 4.5/5 "Excellent!"
    My personal loan was taken with KARUR VYSYA BANK 1.5 years back. The loan amount was 7 lakhs and the given interest rate was satisfactory. The tenure period was 7 years . Here the processing fee was nominal so I would like to recommend to others.
    Was this review helpful? 4
    , chennai
    Reviewed on Jun 08, 2018
  • Karur Vysya Bank Personal Loan
    "excellent service"
    0.5 5.0/5 "Blown Away!"
    I have a salary account from KARUR VYSYA bank so I got the loan process was easy they were not much needed with any documents the rate of interest they offered was 18 % which was fine compared to others in the market and the payment will be auto debited from my salary account .
    Was this review helpful? 1
    , vijayawada
    Reviewed on Oct 24, 2017
  • Karur Vysya Bank Personal Loan
    "Personal loan with KARUR VYSYA BANK"
    0.5 5.0/5 "Blown Away!"
    I have taken a personal loan from KARUR VYSYA BANK for 10 lakhs rupees.The rate of interest is 11% for 10 years.The monthly EMI comes around 15000.I got the approval with in 2 days with 3400 as processing fees.Documentation process also gone well without any lagging.
    Was this review helpful? 1
    , visakhapatnam
    Reviewed on Oct 09, 2017
  • 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? 3
    , 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? 3
    , 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? 2
    , 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? 5
    , 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? 5
    , 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? 12
    , hyderabad
    Reviewed on Jun 19, 2015
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