Karur Vysya Bank Self-Employed Personal Loan

Karur Vysya Bank offers Self-Employed Personal Loans to meet the unique financial needs of self-employed individuals. Whether you need funds for business expansion, working capital, or personal expenses, the Karur Vysya Bank Self-Employed Personal Loan provides a convenient and accessible solution. With competitive interest rates, flexible repayment options, and minimal documentation, Karur Vysya Bank ensures self-employed professionals can access funds quickly and efficiently. This loan product is to support entrepreneurs and help individuals achieve their financial goals without stress.

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Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything finance.
Reviewed By
Piyush Bothra
Piyush Bothra
Chief Financial Officer, Square Yards
Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Karur Vysya Bank Personal Loan for Self-Employed – Highlights 

The main highlights of the Karur Vysya Bank Personal Loan for Self-Employed are in the table below.

Feature Description
Loan Amount Up to ₹10 lakh
Interest Rate 11.25% p.a.
Repayment Tenure Up to 60 months
Processing Fee 3% of the loan amount

Eligibility Criteria for Self-Employed Personal Loan 

To be eligible for the Karur Vysya Bank Self-Employed Personal Loan, applicants must meet the following criteria:

  • Self-employed individuals with a minimum of three years of continuous business operations.
  • The age of the applicant should be between 25 to 65 years.
  • A stable income and a good credit score enhance the chances of loan approval.
  • Maintaining a satisfactory banking relationship with Karur Vysya Bank.

Documentation needed for loan application

For the Karur Vysya Bank Self-Employed Instant Loan, the following documents are required:

Karur Vysya Bank Self-Employed Personal Loan Document Checklist:

  • Identity Proof (Aadhaar Card, PAN Card)
  • Address Proof (Utility Bill, Voter ID)
  • Proof of Business Existence (Registration Certificate)
  • Income Proof (ITR for the last 2 years)
  • Bank Statements (Last 6 months)

Karur Vysya Bank Personal Loan for Self-Employed – Fees and Charges 

Here are the other fees and charges associated with the Karur Vysya Bank Personal Loan for Self-Employed

Fee Type Description
Processing Fee 3% of the loan amount
Prepayment Charges No foreclosure or pre-payment penalties will be charged on retail term loans with a floating interest rate.

How Do You Apply for a Karur Vysya Bank Personal Loan for Self-Employed?

Follow the steps below to apply for Karur Vysya Bank Self-Employed Personal Loan.

  • Visit the Urban Money website and navigate to the ‘Loans’ section.
  • Click on the ‘Loans’ section to open the dropdown menu.
  • Select the ‘Personal Loan’ option from the dropdown menu.
  • Choose ‘Personal Loan by Banks’ and select ‘Karur Vysya Bank’.
  • Click the ‘Apply Now’ button and fill in the required information.
  • An expert from Urban Money will contact you within 24 hours to assist with the next steps.

Alternative Options for Karur Vysya Bank Personal Loans for Self-Employed 

While Karur Vysya Bank Self-Employed Personal Loan is an excellent choice, self-employed individuals may also consider the following alternatives from Karur Vysya Bank:

Karur Vysya Bank Business Loan: 

This loan offers higher amounts and flexible repayment options suitable for business expansion and working capital.

Karur Vysya Bank Gold Loan: 

This loan provides quick funds against gold ornaments, offering attractive interest rates and minimal documentation, making it a good option for immediate financial needs.

Karur Vysya Bank Mortgage Loan: 

It allows borrowing against property, offers substantial loan amounts with longer repayment tenures, and is ideal for large expenses or business investments.

Frequently Asked Questions (FAQs)

What is the maximum personal loan amount available for a self-employed from Karur Vysya Bank?

The maximum personal loan amount available for a self-employed individual from Karur Vysya Bank is up to ₹10 lakh.

Is a guarantee required for a Karur Vysya Bank Self-Employed Personal Loan?

No, a guarantee is not required for a Karur Vysya Bank Self-Employed Personal Loan.

Can I apply for a Karur Vysya Bank Self-Employed Personal Loan online?

Yes, you can apply for a Karur Vysya Bank Self-Employed Personal Loan online through the Urban Money website or the bank’s official website.

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