Insta Loan

This loan is a Personal Loan proposed primarily for the permanent employees of reputed companies / Schools / Govt Institutions etc., for meeting out employee's & their dependents' expenses like medical, education, housing, etc.,

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
Margin NA
Maximum Repayment Tenor 72 Months - EMI or remaining service period whichever is lower.
Primary Security Demand Promissory note
Collateral Security NIL
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.
Documentation Charges Nil
Other Terms & Conditions
  • The Net Take Home pay after deducting the proposed Loan Installments shall be at least 25% of gross pay.
  • Availability of financials of Corporate/ Firms/ Trusts etc., and ensuring that they are in existence and profit making for the last three years.
  • Branches shall verify creditworthiness, integrity, local standing and repayment capacity of the borrower before entertaining the proposals under the scheme.
  • Undertaking Letter from the competent pay disbursing authority must be available.
  • Temporary employees are not eligible for this facility.
  • Outstanding dues from terminal benefits of the borrower or guarantor in case of their resignation, retirement, voluntary retirement or dismissal from service.
Interest Rate
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.

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