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    Karur Vysya Bank (KVB) Professional Loan

    Bank Name
    Interest Rate Range
    Processing Fee Range
    Loan Amount
    Tenure Range
    13.75% - 16.25% Floating
    0.40% One time fee
    1Cr Max
    1-3 Years
    Response Time Within 30 minutes
    Documents
    Perks
    Think about
    Eligibility Criteria
    Personal Loan BYTES FROM OUR KITCHEN

    KVB Professional Loan

    Karur Vysya Bank provides secured loans that are ideally aimed to provide financial aid towards meeting expenses related to business needs of the applicant.

    Usage of Karur Vysya Bank Professional Loan

    This loan is provided to individuals only, for meeting business related expenses like infrastructure development, expansion and travel.

    Eligibility Criteria for Karur Vysya Bank Professional Loan

    A secured loan as this has a few eligibility criteria to be met in order for the financial institution to be able to sanction the loan. The eligibility requirements can be mentioned as follows –

    1. Doctors, Dentists, Chartered Accountants, Lawyers, Chartered Engineers, Architects, Proprietorship firms, Partnership firms and the like, based in India with Indian citizenship
    2. Applicants need to be owning a business with 2 years of existence
    3. Age limits are applicable under the similar conditions, minimum being 18 years
    4. The income capacity of any individual will be the key factor in deciding the amount of loan that can be availed

    Types of Financing under Karur Vysya Bank Professional Loan

    Professional Loan from Karur Vysya Bank is a specific instalment loan with repayment period that can vary with the amount of loan availed.

    Loan limits under Karur Vysya Bank Professional Loan

    Based on the credit-worthiness of the applicant, placement of the enterprise and validity of documents, Karur Vysya Bank can provide loans of varying amounts.

    Interest rates for Karur Vysya Bank Professional Loan

    Interest rates for a KVB Professional Loan could depend on the base lending rate and is based on the discretion of Karur Vysya Bank. Further changes to the rates could be done by Karur Vysya Bank as and when required. As of November 2015, the applicable rate of interest is Base Rate + 3.00% per annum or 13.40% per annum.

    The base rate of Karur Vysya Bank as of November 2015 is 10.40%.

    Documentation required during applying for KVB Professional Loan

    The standard list of required documents for applying for this loan are mentioned as follows –

    1. Photograph of individual applicant
    2. IT Returns, six months bank statement of the primary bank account, business proof, latest year provisional, sundry creditors list
    3. Know Your Customer (KYC) documents
    4. Proof of age and identity as approved by the government of India
    5. Other connected documents applicable for Demand/Term Loans as per extant guidelines

    The above set of documents comprise the minimum required list. To aid in credit approval, Karur Vysya Bank might ask for extra documents if necessary.

    The primary security required will include hypothecation of machinery, equipment, apparatus, tools, computers, other office equipment, furniture & interiors, vehicle, acquired out of bank finance.

    The collateral security will include NSC/KVP/LIC Policies, Bank Deposits, Land & Building and the like, subject to the satisfaction of the bank.

    Guarantors can include family and friends, partners and/or title holders of collateral securities.

    Features of Karur Vysya Bank Professional Loan

    The Professional Loan from Karur Vysya Bank is a good financing option for urgent financial needs in cases of business requirements.

    Some key features of this specialised loan are as follows –

    1. Loan tenure or repayment period can be as high as 60 months
    2. Minimal documentation and faster approval
    3. Variable loan amounts, dependent on the income

    Applying for Karur Vysya Bank Professional Loan

    The loan can be applied for through Karur Vysya Bank’s branches, wherein relevant forms can be filled out and requisite documentation provided to initiate the process of availing the loan. Additionally, one could call or mail Karur Vysya Bank requesting an executive assistance for application process.

    One can also apply for Karur Vysya Bank Professional Loan through BankBazaar, wherein eligibility charts, EMI calculators and infographics can guide one through the application process.

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