Karur vysya Bank


"Karur Vysya Bank made a humble beginning in 1916 with an initial capital of Rs.1 lakh in the textile town of Karur, Tamil Nadu. With over 97 years of banking expertise, KVB has grown massively to extend its footprint with branches and offices across the nation. The bank has over 572 branches and 1,617 ATMs in 18 states and 2 union territories.The bank offers loans for education, specifically designed to meet the growing financial needs of aspirants who wish to pursue a course or achieve a degree of their choice. Study loans are extended for a wide range of graduate and postgraduate programs, professional courses in both domestic and foreign institutions."

Loan Interest Rates:

Loan Amount Male Student Female Student
Up to 7.50 Lacs Base Rate + 3% Base Rate + 2.50%
Above 7.50 Lacs(Priority Sector) Base Rate + 3.50% Base Rate + 3%
Above 7.50 Lacs(Non Priority Sector) Base Rate + 4% Base Rate + 3.50%

Base Rates Are:

Loan Eligibility:

Courses Eligible For Loan:

Documents Required:

Candidate Education Loan Eligibility:

Processing Fees:

Expenses Covered under Education Loan:

Loan Repayment:

"A flexible repayment tenure ranging from 5 years with an upper limit of 7 years is provided by the bank in the form of monthly EMIs. The repayment holiday comes to an end upon completion of 1 year after the course/6 months after getting a job, whichever is earlier."

Security Required:

Loan Type Security Required
Loan amount up to Rs.4 Lacs No security required. Parents will sign in as co applicants
Amount from Rs.4 lacs to Rs.7.50 lacs Parent(s) will sign as co applicant(s) and Collateral security by means of third party guarantee.
Borrowing over 7.50 lacs
  • Parents will join as co applicants
  • Tangible collateral security of relevant value
  • Assignment of student's future income from employment as loan security


1.Is there a processing fee component involved towards handling the education loan application?
Ans. Karur Vysya bank does not charge a fee towards education loan processing. Ideally, interest charges will the only major cost involved in the loan.

2.I have decided to go for a study loan from KVB for my daughter who will be pursuing her masters in US. I have sufficient liquid assets equivalent to the loan amount. Can the collateral third party guarantee clause be waived?
Ans. The "third party guarantee "clause is flexible and not mandatory. If the bank is satisfied with the net worth of parent(s), this condition can be waived on a case to case basis.

3.What is the standard turnaround time (TAT) taken by KVB to process education loan application?
Ans. The bank takes up to 15 business days to process study loan application (India and abroad), provided all relevant documents are in place. If there is a delay owing to paperwork or verification, the bank officials will inform you.

4.I am an engineering student in 1st semester and need a standard configuration laptop computer towards project work. Am I eligible to approach KVB for funding the purchase? (Note: I have availed an education loan from this bank)
Ans. Yes, you can. Please contact the relevant branch. The laptop will be hypothecated to the bank until full repayment of the loan.

5.What are the documents required at the time of application for an education loan?
Ans. The following documents (non-exhaustive) will be required.
	-Marks sheets/Convocation certificate of the last qualifying exam.
	-Proof of admission to the course along with details of expenses involved.
	-Bank account statements of all the borrowers and guarantors.
	-Passport size photographs, ID and residence proof. PAN details.
	-Statement of assets and liabilities of the borrower(s). IT returns statement, Income tax assessment.
	-If the course is being undertaken at a foreign university/institution, foreign exchange permit, scholarship details etc.