Karur Vysya Bank Business Loan
Get special commercial loans with attractive interest rates from Karur Vysya Bank.
Loan Details
Interest Rate
Depends on the credit score
Processing Fee
Waiver of charges for loans upto Rs. 5 Lakhs as per RBI norms. All other cases - 75% of applicable charges, i.e., 25% concession.
Prepayment
Charges
Nil
Tenure
Upto 3-7 years
- Eligibility Factors
- Documents Required
- Loan Verification Process
- Rate of Interest
Karur Vysya Bank Business Loan
- Age: N.A.
- Credit Score: Varies
- Employment Type: Self Employed
- Minimum Net Income (monthly): N.A.
- Business/Work Stability: Minimum 1 year
- Other requirements: Business turnover of less than Rs.1 crore
- Identity Proof: PAN, Aadhaar, Passport, Driving Licence, or Voter ID Card.
- PAN card of Company/Individual/Firm
- Residence Proof: Leave and Licence Agreement, Passport, or Utility Bill.
- Latest 2 years’ ITR.
- Latest 6 months’ bank statement.
- Sales Tax Certificates/Establishment/Trade Licence/ITR.
The process of loan verification takes place in the following steps.
- Fill the application form for Karur Vysya Bank business loan and upload it with the required documents.
- The bank verifies the documents to check the eligibility of the application by contacting the applicant.
- Once the application is approved, the loan amount is disbursed into the applicant’s account.
The Rate of Interest is calculated by considering the credit score, Internal Risk Rating, Coverage Score, type of sector, and similar details. This rate varies from applicant to applicant.