Karur Vysya Bank Professional Loan | Features | Interest Rates
Karur Vysya Bank Loans for working Professionals: As the name suggests, this is for professionals to help them with business expansion and development expenses and for travel expenses for business purposes.
Features of Professional loans by Karur Vysya Bank
- This is a term loan.
- Doctors, Dentists, Chartered Accountants, Lawyers, Chartered Engineers, Architects, Proprietorship firms, Partnership firms, etc., are eligible for this loan.
- It can be taken for the purchase of machinery, equipment, apparatus, computers, tools, vehicles, furniture, interiors and office equipments. This loan can also be used to finance foreign trips, seminars and conferences.
- Individuals/ Firms should be engaged in practice of profession/business for at least 3 years. Profit from profession should have been earned for at least last 2 years.
Interest Rates of Professional Loans -19.00% as on w.e.f 03.02.2013
| Maximum Loan Amount | Rs.15.00 Lakhs |
| Margin | 20.00% |
| Maximum Repayment Tenor | 60 Months with a maximum holiday period of 6 months |
| Primary security | Hypothecation of machinery/equipment/ apparatus/tools, etc., computer/s, other office equipment, furniture & interiors, vehicle, acquired out of bank finance. |
| Collateral security | NSC/KVP/LIC Policies, Bank Deposits, Land & Building etc.,, subject to the satisfaction of the bank. |
| Guarantee | Personal Guarantee of family/friends/Partners/Title holders of Collateral securities etc., subject to satisfaction of the bank. |
| Processing charges | 0.30% of loan amount (Minimum – Rs.500.00) |
| Other Terms & Conditions |
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