Karur Vysya Bank Gold Loan – Interest Rate, Eligibility & Features

Interest Rate & Loan Details

• Interest Rate: Starting from 10.65% p.a. (subject to change as per KVB policy)
• Loan Amount:
  • Minimum: ₹10,000
  • Maximum: ₹200 lakh
• Loan Tenure: 3, 6, or 12 months (with flexible repayment options)
• Processing Fee: For loans up to ₹50,000: ₹0.40 per ₹100, subject to a maximum of ₹200
• Pre-closure Charges: Information not specified; please refer to KVB’s official policies.
• Loan-to-Value (LTV) Ratio: As per the LTV fixed by the bank from time to time.

Purpose of Gold Loan

KVB provides jewel loans to meet urgent financial requirements, including:

• Personal expenses
• Education fees
• Medical emergencies
• Business expansion
• Agricultural investments

Eligibility Criteria

To be eligible for a KVB Jewel Loan, you must meet the following conditions:

• Age: Minimum 18 years
• Ownership: You must own gold jewelry or gold ingots (maximum of 50 grams per customer) sold by banks that can be pledged as collateral.
• Income: Applicants must have a reliable source of income to ensure loan repayment capability.
• KYC Compliance: Applicants must submit valid KYC documents for verification.

Documents Required

Applicants must provide the following documents when applying for a KVB Jewel Loan:

• Application Form: Duly filled and signed
• Photographs: Two recent passport-size photos
• Identity Proof (Any one):
  • Aadhaar Card
  • PAN Card
  • Passport
  • Voter ID
  • Driving License
• Address Proof (Any one):
  • Aadhaar Card
  • Utility Bills (Electricity, Water, Telephone)
  • Ration Card
  • Lease Agreement

Loan Amount & Security

• Minimum Loan Amount: ₹10,000
• Maximum Loan Amount: ₹200 lakh
• Loan Security: Pledge of gold ornaments with a minimum purity of 22 carats and gold ingots (maximum of 50 grams per customer) sold by banks, duly verified for quality and quantity.

Repayment Options

KVB offers flexible repayment options for jewel loans:

• Term Loans: Repayment tenures of 3, 6, or 12 months.

Charges & Fees

• Processing Fee: For loans up to ₹50,000: ₹0.40 per ₹100, subject to a maximum of ₹200.
• Gold Appraiser Charges: Applicable as decided by the bank.
• Prepayment Penalty: Information not specified; please refer to KVB’s official policies.

Key Considerations Before Applying

• Gold Quality: Only gold ornaments with a minimum purity of 22 carats and gold ingots sold by banks are accepted as collateral.
• Loan Terms: Review the loan agreement carefully before signing to understand all terms and conditions.
• Gold Security: Failure to repay the loan may result in the forfeiture of your pledged gold