Karur Vysya Bank Education Loan

Karur Vysya Bank offers loans starting at 9.99%. Complete your application online and check eligibility instantly for a hassle-free experience.

Indian National: The applicant must be an Indian citizen or have a valid Indian passport. Admission: Admission to the university/institute should have been based on an entrance exam or on a merit basis. Guarantor: In the case of individual loans, the candidate must present their father/guardian as a guarantor

Are you planning to apply for a student loan through the KVB? Before you proceed, it's crucial to gather all necessary documents to ensure a smooth processing of your loan application. Meanwhile, you can check out this blog “ Documents Required for an Education Loan ”, there we have provided you the complete list of the mandatory documents required for processing your education loan.Below, we've outlined the essential documents required by SBI for your convenience Completed Application Form: Obtain the application form either from the bank directly or request it from our financial officer through a callback. Admission Confirmation: Provide proof of admission from your chosen university or educational institution. Identification Copies: Submit copies of identification documents such as Passport, Voter ID, Driving Licence, or PAN Card. Passport Photos: Include two recent passport-size photographs of the applicant, co-applicant, and guarantor. Educational Records: Present your latest mark sheet along with the results of any relevant entrance exams (e.g., CAT, GRE, GMAT, TOEFL, IELTS , etc.). Financial Records: Income Proof: Furnish income proof of parents/guardians supported by the last 2 years' income tax statements. Financial Statements: Provide six months' bank statements or recent salary slips. Course Expenses Plan: Detail your anticipated course expenses comprehensively. Current Financial Obligations: Disclose details regarding existing loans and any scholarships received. Institute Prospectus: Include a copy of the institute's prospectus to effectively estimate costs associated with the course. To get your own education loan documents checklist specially customized as per your profile, request a callback from financ

The education loan repayment process in Karur Vysya Bank usually lasts up to 10 years but can be extended up to 15 years depending on the student's loan profile. Karur Vysya Bank has an education loan EMI calculator available on its website for students to get an insight into their EMI amount, but we recommend students use Subraxo EMI calculator , through which students can calculate their EMI for their entire repayment duration. For example: If a student takes an education loan of 40 lacs at a 10% rate of interest, to pursue their higher education in India and decides to repay the loan in 10 years, then the amortization schedule of the EMI will be: TIP: While paying the last EMI instalment, we recommend that you add a little extra amount around Rs 5,000 or Rs 10,000, so as to avoid any type of additional outstanding amount if in case the branch manager closes your loan the next day. Repayment Cycle EMI Interest portion Principal portion Loan Outstanding Start of loan EMI 59468 37500 21968 4478032 End of year 1 59468 35400 24068 4223962 End of Year 2 59468 32880 26588 3919019 End of Year 3 59468 30096 29372 3582144 End of Year 4 59468 27020 32447 3209994 End of Year 5 59468 23623 35845 2798875 End of Year 6 59468 19869 39599 2344707 End of Year 7 59468 15723 43745 1842982 End of Year

To apply for KVB education loan, there are following two ways Offline application process Visit the nearest Karur Vysya Bank’s branch and enquire about the loan products & schemes Check your eligibility and decide the parameters of the education loan, like loan amount, repayment duration , etc. Fill out the loan application form and ask for the document required to start the loan process. Visit the bank again to submit the loan application form and documents Pay multiple visits to the bank to check for the progress of your loan application file. Online application process Step 1: Request a callback on Subraxo (we are the official digital partner of KVB), or fill out the loan application form for Karur Vysya Bank Step 2: You will be assigned a Financial officer, who will pre screen your application Step 3: Provide your details to your financial officer, to build your loan profile After analyzing your loan profile, your financial officer will suggest anything which may require related to improvement in your profile Step 4: You'll be provided the checklist of documents by your FO and for the verification of documents you'll need to go through a video call Step 5: After verification, you'll be given an appointment to submit the hard copies of your documents to the branch. Step 6: It takes around 2-3 days for the legal and valuation of your collateral to be done (In the case of a collateralized loan) and 7-8 days for the sanction to be done. Step 7 : Collect your loan sanction letter from the bank after signing the loan agreement. If you are processing your KVB education loan through Subraxo, the whole process can be completed in 10 days.