Karur Vysya Bank Chennai

Banks210 views

About Karur Vysya Bank

Karur Vysya Bank is popularly known as KVB and was set up in the year 1916 by Mr. M.A. Venkatarama Chettiar and Mr. Athi Krishna Chettiar to capitalize on the previously unexploited market of traders and agriculturists of a small town named Karur situated in Tamil Nadu. Though the bank started with a small capital of ₹1 lakh, it has now reached a level where it is serving millions of people. Karur Vysya Bank has understood the needs of the people and hence designed all its products accordingly. In order to reach more people, the bank has spread its wings and now has more than 600 branches spread across the nation.

Karur Vysya Bank (KVB), being the largest and oldest private banks in India is also one of the banks that offers affordable products and services. The bank is known for its cash deposit machines (CDM) a major technology initiative in India. The loans, as well as the investment products of the bank, are offered by keeping in mind the affordability and needs of the customers when it comes to money. Having said that, home loans, personal loans, car loans, business loans, mortgage loans are one of the most demanding as they come with a lower interest rate and a higher loan amount facility altogether. Read this article to know more about the products and services offered by the bank in Chennai and apply for the one that suits your budget.

Branch Addresses of Karur Vysya Bank in Chennai

Branch NameComplete AddressIFSCMICRContact Number
International DivisionThe Karur Vysya Bank Ltd, Chennai International Division, Kvb Towers Ii Floor, 568 Anna Salai Teynampet, Chennai - 600018KVBL00011036000530031860 200 1916
Chennai MainP.B. No.1980 46 Armenian Street, Chennai - 600001KVBL00011536000530101860 200 1916
Chennai Anna NagarNo.6 AC Block Next To Rasi Silks, II Avenue Anna Nagar, Chennai - 600040KVBL00011546000530051860 200 1916
Chennai Kodambakkam23 United India Colony, Ist Main Road Kodambakkam, Chennai - 600024KVBL00011556000530071860 200 1916
Chennai MylaporeP.B. No. 607 85 Kutcherry Road, Mylapore, Chennai - 600004KVBL00011566000530081860 200 1916
Chennai RoyapuramNo. 2 Mannarswamy Kovil Street, Royapuram, Chennai - 600013KVBL00011576000530091860 200 1916
Chennai Triplicane205 Triplicane High Road, Triplicane, Chennai - 600005KVBL00011586000530131860 200 1916
Chennai Thyagaraya Nagar62 Sir Thyagaraya Road, Thyagaraya Nagar, Chennai - 600017KVBL00012136000530121860 200 1916
Whites RoadP.B. No. 5565 37 Whites Road, Chennai - 600014KVBL00012196000530141860 200 1916
Chennai CCOKarur Vysya Bank, Central Clearing Office, 766 Anna Salaisakthi Towers 6th Floor, Chennai - 600002KVBL00012216000530011860 200 1916
Chennai Purasawalkam51 Gangadeeswarar Koil Street, Purasawalkam, Chennai - 600084KVBL00012296000530151860 200 1916
Usman Road107 Usman Road, Thyagaraya Nagar, Chennai - 600017KVBL00012396000530171860 200 1916
TeynampetKarur Vysya Bank Towers Ground Floor, 568 Anna Salai, Chennai - 600018KVBL00012506000530201860 200 1916
NanganallurNo.7 48th Street, Nanganallur, Chennai - 600061KVBL00012556000530211860 200 1916
Chennai Adyar154 Lattice Bridge Road, Adyar, Chennai - 600020KVBL00012576000530221860 200 1916
MogappairG - 3, AMM Towers, Plot No 40 Tiruvalluvar Road, Near D.A.V School, Mohappair, ChennaiKVBL00012636000530231860 200 1916
ValasaravakkamDoor No 138, Arcod Road, , East Kamakodi Nagar Extension, Valasaravakkam, Chennai - 60008KVBL00012646000530241860 200 1916
VelacherySurvey No 344/11 & 12, , Vellachery Tambaram Main Rd Velachery, Chennai KVBL00012656000530251860 200 1916
Ashok Nagar22A, 7th Avenue, Ashok Nagar, Chennai - 600083KVBL00012786000530261860 200 1916
EgmoreThiru Complex, 44/1, Pantheon Road, Egmore, Chennai - 600008KVBL00012836000530291860 200 1916
Rajaannamalaipurma17/5 Kamarajar Salai, Srinivasa Avenue, Raja Annamalaipuram, Chennai - 600028KVBL00012856000530321860 200 1916

Products Offered by Karur Vysya Bank in Chennai

Karur Vysya Bank provides a wide array of products that are designed by keeping in mind the financial needs and affordability of the customers. The bank is one of the best loan providers when it comes to home loans, personal loans, car loans, business loans, education loans, etc. with the combination of low-interest rates and higher loan amount facility. The loan interest rates of Karur Vysya Bank are one of the lowest in the market. Other than the finance products, the bank offers investment products like fixed deposits that give higher returns on the saving amount. You can easily apply for any product at the bank if you have met the eligibility criteria as per the bank’s norms. Having said that, different products have different eligibility criteria. So, read this article to know about the important details like the eligibility criteria, maximum and minimum amount, interest rate, tenure, processing fees, and documentation required for each of the products. So, have a look at the below details that comprises of the product details of Karur Vysya Bank in the Chennai city.

Basic Details of Karur Vysya Bank Products

ProductEligibilityAmount Interest RateProcessing FeeTenure
Home Loan All Resident Individuals and HUF (opening through Kartas) .
NRI ‘s can also avail the loan under KVB – Gruhapravesh.
In case of Salaried Persons:
Salary certificate for the last 6 Months to be submitted along with certificate from the Employer.
In case of Self Employed:
Latest ITR/Income Statement to be submitted.
The Net Take Home pay after deducting the proposed Loan Installments shall be at least 40% of gross pay.
For the purpose of Maximum loan eligibility Income of the spouse may be added.
Agriculturist may also avail the loan with proper proof of income (IT Return)
Loan may be granted to purchase vacant land provided they should begin construction within 6 months from the date of availing the loan.
No prepayment charges will be levied.
No upper limit8.65% - 9.00%Up to ₹12500/- + STUp to 25 years
Personal Loan Age at least 21 and less than 58 years
Applicant must be an Indian resident or a person residing in India
As per Bank’s norms13.15% - 15.65%0.40% of the loan amountUp to 3 years
Car Loan The Net Take Home pay after deducting the proposed Loan Installments shall be at least 25% of gross pay.As per the profile of the applicant9.35% - 12.60%₹4000/- + STUp to 7 years
Business Loan Existing Micro & Small manufacturing & service units (other than traders), whose turnover is less than ₹100 lakhs in the previous financial year (with minimum one year of existence)Up to ₹20 lakhs13.20%Waiver of charges for loans upto Rs.5 lacs as per RBI normsUp to 7 years
Fixed DepositIndividuals
HUF
Trust
Partnership firms
Companies
Associations etc.
Minimum ₹1005.00% - 7.50%NAUp to 10 years
Education LoanIt is a term loan given for studies in India and abroad.

Students who are Indian nationals and have secured admission to professional/ technical courses in India through a common Entrance Test, or who have secured admission to a foreign University or Institution.

The Father or guardian of the student will be the guarantor in case of individual applicants.
As per the profile of the applicant11.70%-12.70%NILIn 5-7 years after repayment holiday (course period and 1 year or 6 months after getting job whichever is earlier)
Mortgage LoanOnly Resident Individuals are eligible for this loan.

The loan shall be granted for general purposes like Personal, Consumption, Education, Health, Business, etc., other than speculative purposes.

The property should be owned by Individuals only and if owned jointly, Title holders to join as Co applicants.

Eligibility shall be arrived based on the latest three years average income, as declared in ITR.

Minimum Income of ₹15000.00 per month.

Mandatory undertaking from the borrower/s to effect that the loan/limit will not be for speculative purposes.
₹10.00 Lakhs12.45%0.50% of loan amountUp to 100 months

Documents Required

You can have a look at the documentation required for each product offered by the Karur Vysya Bank. An applicant must have the below documents to get hassle free approval from the bank.

ProductDocuments
Home Loan Identity Proof
Address Proof
Processing fee cheque
Income Proof
Loan application form
OCC / LC / BG: Residential / commercial / industrial land and building property with a minimum 100% of aggregate exposure or CGTMSE cover
HPL(M): Residential / commercial / industrial land and building property with a minimum 100% of aggregate exposure or CGTMSE cover
SOD-RE: Entire current assets
If immovable properties are not sufficient to cover the required margin, Term Deposits / NSCs / Life Insurance Policies (all or any of them) may also accepted to cover the difference amount. However, third party instruments are not acceptable.
Leased industrial property may also be accepted, if the lease period is 30 years and above (perpetual lease) with mortgage rights in the lease deed.
Personal LoanIdentity Proof
Address Proof
Processing fee cheque
Income Proof
Loan application form
The Net Take Home pay after deducting the proposed Loan Installments shall be at least 25% of gross pay.
Salary certificate is must to establish repayment capacity.

For Self Employed Individuals:
Identity Proof
Address Proof
Processing fee cheque
Income Proof
Loan application form
IT returns to ensure income and repayment capacity.
Branches shall verify credit worthiness, integrity, local standing and repayment capacity of the borrower before entertaining the proposals under the Scheme
An undertaking from the employer to deduct loan installments and interest from the salary of the borrower in case of salaried employees shall be insisted on
NSC/KVP/LIC Policies, Bank Deposits, Land & Building etc., subject to the satisfaction of the bank.
Car LoanIdentity Proof
Address Proof
Processing fee cheque
Income Proof
Loan application form
Payment directly to seller by way of DD/NEFT/RTGS/ Account credit/ etc.,
An undertaking from the employer to deduct loan installments and interest from the salary of the borrower in case of salaried employees shall be insisted on.
Business Loan Identity Proof
Address Proof
Processing fee cheque
Income Proof
Loan application form
Fixed DepositIdentity Proof
Address Proof
Education LoanLetter of admission
Duly filled and signed loan application form
2 recent passport size photographs
Statement of cost of study
PAN Card, AADHAR card of student and parent/guardian
Proof of identity and proof of residence
IT returns or IT assessment order of previous two years of the co-borrower
Statement of assets and liabilities of parent/guardian
Proof of income of parent/guardian
Mortgage LoanIdentity Proof
Residence Proof
Income Proof
Loan application form
Passport size photos
Residential & commercial buildings owned by resident Indians will be accepted as securities.

Agricultural properties, Factories, Godowns, Cinema Halls, Schools, Restaurants, etc., will not be accepted as securities.

People Also Look For

Personal Loan Interest Rates August 2018
Bajaj Finserv10.99% - 16.00%
Fullerton India14.00% - 33.00%
HDFC Bank11.25% - 21.25%
ICICI Bank10.99% - 18.40%
IndusInd Bank10.99% - 16.00%
Kotak Bank10.99% - 20.99%
RBL13.00% - 18.00%
Standard Chartered Bank10.99% - 14.49%
Tata Capital10.99% - 18.00%
Home Loan Interest Rates August 2018
State Bank of India/SBI8.45% - 9.00%
HDFC8.70% - 9.40%
Bank of Baroda8.50% - 9.50%
LIC Housing8.45% - 8.90%
PNB Housing Finance8.99% - 10.75%
ICICI Bank8.55% - 8.80%
Axis Bank8.50% - 8.85%
Citibank8.85% - 9.65%
Indiabulls Housing Finance Limited8.70% - 9.85%
Kotak Bank8.65% - 8.75%
DHFL9.05% - 9.95%
Reliance Home Finance8.75% - 10.00%
EMI Calculator