Personal Loan (Secured / Unsecured)

Our KVB – Personal Loan (Secured / Unsecured) is so designed to cater to personal needs and to meet out unforeseen exigencies.

Features and Benefits
  • This is a short-term, long-term loan.
  • The loan is granted for personal purposes.
  • Process is paperless, quick and convenient.
  • In principle sanction provided in 15 minutes subject to satisfaction of CIBIL and rating scores.
Charges and Limits
Quantum of Loan PL Unsecured Loan : Minimum Rs. 0.50 Lakhs Maximum Rs. 10 Lakhs.
PL Secured Loan : Minimum Rs. 0.50 Lakhs.
Margin NA
Maximum Repayment Tenor In Installments (EMI) or Bullet / Lump sum Payment at the end of the validity period.
In case of LIC Policies - Repayment under EMI up to 60 months.
Primary security Demand Promissory note
Collateral Security In case of Secured Loan: Government Bonds, Bank Deposits, Land & Building etc. Subject to the satisfaction of the bank.
Guarantee A suitable Guarantor with sufficient net worth, acceptable to the Bank (preferably spouse or family members or friends)
Processing Charges 1.00% of the loan requested amount.
Other Terms & Conditions
  • The Net Take Home pay after deducting the proposed Loan Instalments shall be at least 25% of gross pay.
  • Salary certificate is must to establish repayment capacity.
  • For Self Employed Individuals, 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 instalments and interest from the salary of the borrower in case of salaried employees shall be insisted on.
Interest Rate
Nature of Facility ROI
Unsecured Minimum 12% to Maximum 18%
Secured Minimum 12.75% to Maximum 17.75%

Note : Rate of Interest linked to MCLR. Rates will change based on prevalent MCLR.

To check Interest rate: Click here

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