- Eligibility Criteria for Karur Vysya Bank Education Loan
- Karur Vysya Bank Education Loan Rate of Interest
- What is the margin money on the Karur Vysya Bank education loan?
- How much loan can be taken from the Karur Vysya Bank education loan?
- Karur Vysya Bank Education Loan Processing Fee
- Rpayment Period of the Karur Vysya Bank Education Loan
- What is the security required to be pledged for the Karur Vysya Bank education loan?
- At what locations in India can a student avail of a Karur Vysya Bank education loan?
- Does the Karur Vysya Bank education loan is available for all types of degrees and disciplines?
- The applicant should be an Indian national.
- The applicant should have got admission in India or overseas to pursue higher / professional/ technical education.
- He/she must have security to pledge.
- For loans up to INR 4 Lakhs - Parents to sign as co-applicant. No security is required.
- For loans above INR 4 Lakhs and up to INR 7.50 Lakhs - Parents to sign as co-applicants together with a third party as "Joint Borrower". His/her net worth will be taken into consideration for loan approval.
- Above Rs. 7.50 Lakhs - Property required as collateral security.
Updated on: 06 Sep 2023
5 min read
Getting an education loan for abroad studies can be a tough chase if you are not well aware of the options available. Many government banks - SBI & BOB, private banks- ICICI Bank & Axis Bank, and NBFCs - HDFC Credila in India offer loans for overseas education. One of such popular government banks offering loans for foreign education is the KVB, or Karur Vysya Bank.
Getting an education loan for abroad studies can be a tough chase if you are not well aware of the options available. Many government banks - SBI & BOB, private banks- ICICI Bank & Axis Bank, and NBFCs - HDFC Credila in India offer loans for overseas education. One of such popular government banks offering loans for foreign education is the KVB, or Karur Vysya Bank.
Table of Content Founded in 1916 by Athi Krishna Chettiar & M. A. Venkatarama Chettiar, Karur Vysya Bank is one of the leading public-sector banks in India. The bank is headquartered in Karur in Tamil Nadu. Karur Vysya Bank education loans include expenses such as college fees, hostel fees, books, equipment fees, travel money, etc for overseas education. It also takes into consideration the building fund deposits, caution deposits, and all the refundable deposits. In this blog, we will study all the features and benefits of the Karur Vysya Bank student education loan. So, let's plunge in... The interest rate of Karur Vysya Bank education loan ranges from 10.75% to 11.75% p.a. There is no margin money on the study loans up to INR 4 Lakhs. For the education loan amount more than INR 4 Lakhs, the margin money is up to 15% for foreign education and 5% for study in Indian studies. Karur Vysya Bank Education Loan Details Maximum Loan Amount For studying in India: Up to INR 10 Lakhs Loan Tenure Up to 7 Years Interest Rate 10.75% to 11.75% p.a. Moratorium Period Course period + 1 year or 6 months after getting the job (whichever is earlier) Margin Money Up to INR 4 Lakhs- Nil Processing Fees Nil The bank can sanction loan up to INR 10 Lakhs for studies in India and up to INR 20 Lakhs for studying abroad. No processing fee is charged by the Karur Vysya Bank under its education loan schemes. Fill in the form below Repayment of Karur Vysya Bank study loan starts after 1 year of the course completion or 6 months after getting a job (whichever occurs first). The loan repayment period can be up to 5-7 years for all the loans. Students can apply for a Karur Vysya Bank education loan at any branch in or near his/her place of residence. Yes, Karur Vysya Bank offers education loans for undergraduate courses, diploma courses, and postgraduate courses which give professional and technical degrees in India or abroad.
In search of an education loan to study abroad? Get in touch with GyanDhan and avail of overseas education loans from top government banks, private-sector banks, and NBFCs. What’s more! Our loan assistance service is totally free of cost. We have partnered with popular financial lenders in India to provide the best deals on foreign education loans. For both secured and unsecured abroad education loans, you can check your loan eligibility and get a callback from us.
Check Your Education Loan Eligibility Apply Here
What are the Eligibility Criteria for Getting a Karur Vysya Bank Education Loan?
What is the Rate of Interest of the Karur Vysya Bank Education Loan?
What is the Margin Money on the Karur Vysya Bank Education Loan?
For studying abroad: Up to INR 20 Lakhs
For more than INR 4 Lakhs- 15% for studying abroad and 5% for studying in Indian college/university
How Much Loan Can be Taken from the Karur Vysya Bank Education Loan?
What is the Processing Fee for Getting a Karur Vysya Bank Education Loan?
Need Free Help in Getting an Abroad Education Loan?
What is the Repayment Period of the Karur Vysya Bank Education Loan?
What is the Security Required to be Pledged for the Karur Vysya Bank Education Loan?
Check Your Education Loan Eligibility Apply Here
At What Locations in India Can a Student Avail of a Karur Vysya Bank Education Loan?
Does the Karur Vysya Bank Education Loan is Available For All Types of Degrees and Disciplines?
Written by
vishakha Bhagia
Interest in Finance with a flair for writing, Vishakha has written on education loans and the study abroad field for the last two years with articles published in Times of India, Outlook India, The Hindu, and many more publications.
Reviewed by
Aman Jain
Aman Jain graduated from IIT Kanpur, and currently functions as the CMO at GyanDhan. He is deeply passionate about creating equality in higher education and has directly interacted with 2 Lakh students in his 8-year-long journey.
Specializes in:
Education loan ,
Study Abroad Admissions
GyanDhan is India's first education financing marketplace.
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