Features and Benefits
- This is an installment loan.
- It is for permanent employees with a minimum confirmed service of 2 years and an unexpired service of 1 year, who are non-defaulters of any other bank or FI.
- Undertaking letter from the competent pay disbursing authority must be available.
Charges and Limits
|Maximum Repayment Tenor||72 Months - EMI or remaining service period whichever is lower.|
|Primary Security||Demand Promissory note|
|Guarantee||Personal guarantees from different employees to be obtained.|
|Processing Charges||0.50% of the loan amount subject to a minimum of Rs. 1,000/- + GST.|
|Other Terms & Conditions|| |
|Nature of Facility||Fixed ROI||Floating ROI|
|KVB Insta loan||12%||(One Year MCLR + 3.65%)|
|KVB Easy Insta loan||12%||(One Year MCLR + 3.40%)|
Note: Rate of Interest linked to MCLR. Rates will change based on prevalent MCLR.