Karur Vysya Bank Education Loan: EMI Plans, Interest Rates & Calculator

June 27, 2025 Neel Achary business 0
Estate Planning in Business, business name matters, Karur Vysya Bank Education Loan

With a strong focus on customer satisfaction and innovation, the Karur Vysya Bank (KVB) has been a prominent private bank in India since 1916. The KVB has recently started offering education loans for both studies in India and abroad.

The bank is known for offering competitive interest rates, flexible repayment options, and quick processing, making it an attractive choice for students aspiring to pursue education abroad. This article covers the key details of KVB’s education loans, including their loan amount, interest rate, and repayment terms.

Obtaining an education loan from KVB can take months to be processed. However, when students apply for a KVB education loan through WeMakeScholars, the process can be done much faster within 3 weeks after all the required documents are submitted. WeMakeScholars is an organization funded and supported by the Ministry of IT, Government of India, that is dedicated to supporting students in their education loan process.

Karur Vysya Bank Education Loan

Karur Vysya Bank Education Loan is designed to provide financial assistance for students planning to pursue education in India and abroad. KVB education loan helps students cover their entire education cost, including their tuition fees, living expenses, purchasing study materials, and other miscellaneous expenses.

KVB offers secured education loans for aspiring students for their higher studies. This means that to get an education loan from KVB, students should pledge their property as collateral security for the loan amount. KVB accepts immovable properties and liquid assets as collateral for education loans. With loan amounts of up to ₹1.5 crores and a competitive interest rate starting from 11.50%, KVB offers one of the best education loan deals for students.

KVB Education Loan Interest Rate

  • The KVB offers competitive interest rates on education loans starting from 11.50%.
  • However, the exact interest rate a student gets on their KVB education loan depends on several factors, including the loan amount, collateral, the student’s profile, and the co-applicant’s income and CIBIL score.

Important Terms of a KVB Education Loan

The following table contains the important education loan terms of KVB, including the loan amount, interest rate, and repayment terms.

Loan Parameter

Details

Maximum Loan Amount

●      Up to ₹1.5 crores (For Studies Abroad)

●      Up to ₹1 crore (For Studies in India)

Interest Rate

Starts from 11.50%

Interest Rate on going through WeMakeScholars

Starts from 9.99% (For Studies in Abroad)

Accepted Co-applicant

Parents/parents-in-law, siblings, parents’ siblings, spouse, & first cousins

Moratorium Period

Course duration plus 6 to 12 months

Repayment Tenure

Up to 15 years (Including moratorium period)

Processing Fee

Up to ₹10,000 plus GST

KVB Education Loan Repayment Terms

KVB education loans are known for their flexible repayment terms with a repayment tenure of up to 15 years. Education loans typically offer a moratorium period to provide financial relief to students.

The moratorium period is a repayment holiday during which the repayments, i.e., the EMIs of the loan, don’t start. The bank also offers a moratorium period of the course duration plus 6 to 12 months for education loans. During this period, the repayment of KVB education loans does not start.

KVB Education Loan EMI Calculation

The EMI of an education loan from KVB is made up of the principal loan amount and the interest. The following is how education loan EMIs are calculated from an education loan EMI calculator.

EMI = [P x R x (1+R)N]/[(1+R)N-1]

Where,

P = Principal loan amount

R = Monthly Interest Rate

N = Repayment Tenure

Monthly interest rate = Annual interest rate / 12

Eligibility Criteria for KVB Education Loans

The following are the eligibility criteria to get an education loan from KVB.

  1. Co-applicant: A co-applicant is mandatory to get an education loan from KVB. The Co-applicant’s Income and CIBIL score should meet the requirements of the bank.
  1. Citizenship: Both the applicant and the co-applicants should be Indian citizens to be eligible for an education loan from KVB.
  1. Age: Students typically aged between 16 to 45 can get an education loan from KVB.
  1. Admission Status: Students should secure admission to a recognized university to get an education loan from KVB.
  1. The University: The university that you’re going to should be recognized and come under the designated list of universities of the bank.
  1. Course Eligibility: Graduate, post-graduate, Diploma, and PHD programs offered by reputed universities in India and abroad are eligible for an education loan from the bank.
  1. Collateral Requirements: To get an education loan from KVB, you should pledge acceptable collateral to the bank. KVB accepts both immovable properties and liquid assets as collateral for education loans.

Documents Required for KVB Education Loans

The following are the important documents required to get an education loan from KVB.

  1. Application Form: The completely filled-out education loan application form from the bank.
  2. Admission Letter: Provide the admission letter proving admission from the chosen university or educational institution in India or abroad. Also, provide a copy of the university’s prospectus outlining the costs associated with the course.
  3. KYC Documents: Submit copies of documents providing identity and residence proof of the student and the co-applicant, such as an Aadhar card, Passport, Voter ID, Driving Licence, or PAN Card.
  4. Passport Photos: Two passport-size photographs of the applicant, co-applicant, and guarantor(if applicable).
  5. Academic Records: The latest mark sheet along with the results of any relevant entrance exams (e.g., CAT, GRE, GMAT, TOEFL, IELTS, etc.).
  6. Co-applicant’s Financial Documents:
    Documents proving the income and creditworthiness of the co-applicant. These documents vary based on whether the co-applicant is salaried or self-employed.

How to Apply for a KVB Education Loan

Offline application process

  1. Visit the nearest Karur Vysya Bank’s branch and enquire about the loan products & schemes
  2. Check your eligibility and decide the parameters of the education loan, like loan amount, repayment duration, etc.
  3. Fill out the loan application form and ask for the document required to start the loan process.
  4. Visit the bank again to submit the loan application form and documents
  5. Pay multiple visits to the bank to check for the progress of your loan application file.

Online application process

Step 1: Request a callback on WeMakeScholars (we are the official digital partner of KVB), or fill out the loan application form for Karur Vysya Bank

Step 2: You will be assigned a Financial officer, who will pre screen your application

Step 3: Provide your details to your financial officer, to build your loan profile

After analyzing your loan profile, your financial officer will suggest anything which may require related to improvement in your profile

Step 4: You’ll be provided the checklist of documents by your FO and for the verification of documents you’ll need to go through a video call

Step 5: After verification, you’ll be given an appointment to submit the hard copies of your documents to the branch.

Step 6: It takes around 2-3 days for the legal and valuation of your collateral to be done (In the case of a collateralized loan) and 7-8 days for the sanction to be done.

Step 7: Collect your loan sanction letter from the bank after signing the loan agreement.

If you are processing your KVB education loan through WeMakeScholars, the whole process can be completed in 10 days.