Karur Vysya Bank Car Loan Interest Rate

Karur Vysya Bank is an Indian private-sector bank headquartered in Karur, Tamil Nadu. Customers can also use Internet Banking and Mobile Banking through the bank. The bank has a 96-year tradition while remaining young enough to adapt to the banking industry's quickly changing landscape.

KVB offers a variety of deposit and loan solutions that are tailored to the individual needs of customers. If you wish to buy your ideal car, our Flexi Mobile Loan, with numerous appealing features, is always available to you. All that you would have to do is follow a few simple steps to obtain great deals.

Characteristics and Advantages of the KVB Car Loan

  • Karur Vysya Car Loans are processed quickly.
  • Hassle-free documentation service.
  • Bank deposits, NSC/KVP/LIC policies, land and building documents, and other forms of collateral security must be given to the bank.
  • Terms and conditions have been simplified.
  • Repayment terms are flexible.
  • The primary security must be the hypothecation of the car obtained with a car loan.
  • Insurance coverage is provided with BAGIC up to the loan amount and is payable by the borrower (subject to the choice of the borrower).
  • After EMI deductions, the customer's net take-home pay should be at least 25% of his or her gross wage.
  • Payment can be sent to the seller directly via DD/NEFT/RTGS/Account credit/etc.

KVB Car Loan Interest Rate 2022

Here is a table to show the KVB Bank car loan interest rate-

Type of Loan

Karur Vysya Bank Car Loan Interest

For a New Car Loan

9.65% - 11.65%

For a Used Car Loan

12.75% and 16.75%

Who is Eligible for the KVB Car Loan Scheme?

  • Karur Vysya Bank Car Loans are available to salary and self-employed professionals.
  • Salaried employees should obtain a commitment from their employers to deduct their EMI and car loan interest rate in KVB from their net salary.
  • A guarantor is not required. The bank will accept a Guarantor—preferably relatives, friends, or spouse—with a sufficient network to increase your net worth.

Documents Needed to Apply for the KVB Car Loan

The following documents are mandatory-

Age Proof - Passport/Aadhaar/PAN and more.

Income Proof - Salary slip/Balance Sheet/bank statement and more.

Address Proof - telephone bill/ electricity bill/ tax receipt and more.

ID Proof - PAN/Voter ID/ Passport/ Photograph and more.

Sign Proof - License/ PAN/ Tax Receipt and more.

Processing Fees for Car Loan from Karur Vysya Bank

Processing Fee - Rs. 2000/- to Rs. 4000/- (excluding ST)

How to Apply for this Car Loan?

The bank's application process for a car loan is quite simple and straightforward. The bank offers the advantage of faster loan processing, allowing applicants to obtain instant funds for the purchase of new or used vehicles.

The Potential applicants can apply for the loan by visiting the bank's nearest branch or by contacting the bank's customer service.

Another simple approach to applying for a loan is through the bank's website. Applicants can submit their basic information to the bank by clicking on the link provided below. The bank's representatives will then call the candidates to provide additional information and to begin the process of applying for a loan to purchase a new or used car.

Looking to Invest?
Open an account with Groww and start investing for free
INVEST NOW
Loading...
ⓒ 2016-2022 Groww. All rights reserved, Built with in India
MOST POPULAR ON GROWWVERSION - 3.3.8
STOCK MARKET INDICES:  S&P BSE SENSEX |  S&P BSE 100 |  NIFTY 100 |  NIFTY 50 |  NIFTY MIDCAP 100 |  NIFTY BANK |  NIFTY NEXT 50
MUTUAL FUNDS COMPANIES:  ICICI PRUDENTIAL |  HDFC |  NIPPON INDIA |  ADITYA BIRLA SUN LIFE |  SBI |  UTI |  FRANKLIN TEMPLETON |  KOTAK MAHINDRA |  IDFC |  DSP |  AXIS |  TATA |  L&T |  SUNDARAM |  PGIM |  INVESCO |  LIC |  JM FINANCIAL |  BARODA PIONEER |  CANARA ROBECO |  HSBC |  IDBI |  INDIABULLS |  MOTILAL OSWAL |  BNP PARIBAS |  MIRAE ASSET |  PRINCIPAL |  BOI AXA |  UNION KBC |  TAURUS |  EDELWEISS |  NAVI |  MAHINDRA |  QUANTUM |  PPFAS |  IIFL |  Quant |  SHRIRAM |  SAHARA |  ITI