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Karur Vysya Bank Education Loan- Student Loan in India

Karur Vysya Bank Education Loan

Karur Vysya Bank Purpose of Loan:

To provide monetary assistance to Indian nationals who have secured admission to listed professional/technical courses in India or abroad from a recognised university/institution by means of a common entrance test.

Maximum Loan Amount

For studies in India - Rs.10.00 Lakhs

For studies abroad - Rs.20.00 Lakhs


No margin is applicable for loan amount of up to Rs. 4 lacs.

For any amount above this cut off, the margin is 5% for domestic study and 15% for studies in foreign countries.

Repayment Tenor: 

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.

Rate of Interest:

Upto Rs.7.50 lakhs

For Boys - BR + 3%

For Girls - BR + 2.50%

Above Rs.7.50 lakhs (falling under Priority Sector)

For Boys - BR + 3.50%

For Girls - BR + 3%

Above Rs.7.50 lakhs (falling under Non Priority Sector)

For Boys - BR + 4%

For Girls - BR + 3.50%

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