Karur Vysya Bank

Karur Vysya Bank was started in the year 1916 in Karur, then a small textile town with a vast agricultural background, by two illustrious sons of the soil Sri M.A. Venkatarama Chettiar and Sri Athi Krishna Chettiar. What started as a venture with a seed capital of Rs. 1.00 lakh has grown into a leading financial institution that offers a wide gamut of financial services to millions of its customers under one roof.

OUR VISION: 

DELIGHT THE CUSTOMERS CONTINUALLY BY BLENDING TRADITION WITH TECHNOLOGY TO DELIVER INNOVATIVE PRODUCTS AND SERVICES AT AFFORDABLE RATES THROUGH A PAN INDIA BRANCH NETWORK

Our loan has been specifically structured to provide you with financial help if you wish to pursue education of your choice, either in India and abroad. 

Features:

It is a term loan given for studies in India and abroad.

Students who are Indian nationals and have secured admission to professional/ technical courses in India through a common Entrance Test, or who have secured admission to a foreign University or Institution.

The Father or guardian of the student will be the guarantor in case of individual applicants.

Maximum Loan Amount:

For studies in India - Rs.10.00 Lakhs.

For studies abroad - Rs.20.00 Lakhs

Margin:

Up to Rs.4.00 Lakhs 

Nil

Above Rs.4.00 Lakhs:

Studies in India - 5% 

Studies in abroad - 15%

Repayment Tenor:

In 5-7 years after repayment holiday (course period and 1 year or 6 months after getting job whichever is earlier)

ROI:

Can be downloaded below from Documents

Primary security:

DPN 

(In case of loan is used for purchase of equipments/instruments, the same is to be hypothecated to us)

Collateral security:

For loans up to Rs.4.00 Lakhs: 

Parents to join as Co Applicants & No security.

For loans above Rs.4.00 Lakhs and up to Rs.7.50 Lakhs:

Parents to join as Co applicants together with collateral security in the form of suitable third party guarantee. The bank may, at its discretion, in exceptional case, waive third party guarantee if satisfied with the Net Worth / Means of parent/s who would be executing the documents as "Joint Borrower"

Above Rs.7.50 Lakhs: 

Parents to join as Co applicants together with tangible collateral security of suitable value, along with the assignment of future income of the student for payment of installments.

Students admitted under Management Quota are also eligible for Educational Loan. However other norms / guidelines with regard to eligibility criteria are to be complied as per State/Central government norms

Guarantee:

Father/Guardian in case of Individual applicant

Processing charges

Nil

The Rate of Interest and Education Loan Application Can Be Downloaded From Documents Below.