Karur Vysya Bank Indian students education loan scheme – FAQs


The Karur Vysya Bank offers education loan on similar terms and conditions as all the other banks. The education loan is granted for studies in Indian educational institutions and also abroad. Indian students are eligible for this loan.

The Karur Vysya Bank is a 100-year-old bank that went into business in 1916, in the small textile town of Karur. Over the years this private sector bank has expanded and begun offering various banking related services to its customers, including various types of loans. The Karur Vysya Bank also offers educational loans for higher studies in India and abroad. If you need an education loan you can approach the branch in your city and avail the loan with simplified terms and conditions and attractive interest rates.



This article answers the most common question regarding education loan from Karur Vysya Bank.

Q1 – What is the procedure for students to apply for an education loan from the bank?


Applying for an education loan through the Karur Vysya Bank (KVB) is quite simple and the process is fairly easy. Students desirous of obtaining a study loan with Karur Vysya can either drop into a branch and request the loan application form, or fill up their application online. Please note that when submitting the form, all details, asked for in the form must be provided. Failure to do so can lead to the application being rejected.

Q2 – Which are the documents that need to be submitted to obtain an education loan from KVB?


Copies of the following list of documents will need to be submitted to the bank along with the application. Please note that the bank will check and verify all the original documents before processing the loan.
  • Educational documents including mark sheet and pass certificate of class X, class XII and degree certificate and transcripts, if proceeding for post-graduate studies
  • Proof of admission to the university/college/school/institution, along with course related details, such as fee structure, duration of course etcetera
  • If student is proceeding for higher studies abroad then scores of GMAT/GRE/IELTS/TOFEL or other relevant mandatory tests
  • Six months bank statements of guarantor and co-applicant, who should preferably be a parent or spouse
  • Income proof of co-applicant such as salary slip, IT Returns and/or Form 16
  • Statement of liabilities and assets of the co-applicant
  • Two passport size photographs of applicant (student) and co-applicant
  • PAN details, Aadhar details and other government issued identity proof
  • Proof of residence – utility bills, passbook, passport etcetera
  • Letter of scholarship if you have received any


Q3 – Does the bank charge any processing fee on the education loan?


There is no processing fee charged by the bank. Any fee that is charged is as per actuals. For instance, the fee for the verification of documents provided as collateral will need to be paid to the lawyer. The surveyor will also have to be paid for assessing the value of the property. Apart from this the only real cost involved will be the interest that is paid on the loan.

Q4 - How long does the bank take to process an education loan application and grant the loan?


Once the application and the documents are submitted, the bank takes around fifteen to twenty working days to process the loan application. This is the standard time taken for all types of education loans. The bank is usually quick at completing the process, but in case there is an unforeseen delay, you will hear from the bank, informing you about the same.

Q5 – Is a security required to get a study loan?


The bank requires a security in the form of collateral only for loan amounts above four lakhs.

Q6 – Is there a cap on the loan that I can take?


The bank will give a loan to meet the education expenses as described in the official communication from the education institution. The amount covers various aspects related to the course study, from covering the tuition and hostel fees to the caution deposit and charges for the lab, library and examinations. The loan covers expenses for books, equipment, study tours and projects and even the travel expenses borne by students heading abroad. The loan covers 95% of the course fee.



There are generic articles that answer questions on education loan , discuss education loan interest waiver under CSIS and elucidate some points to consider before taking education loan. Most Co-operative Banks give education loans and banks from the public sector and the private sector provide loans as well on more or less similar terms and conditions. Explore all your options and good luck with your education.


Article by Juana
Juana is a freelance writer, with years of experience, creating content for varied online portals. She holds a degree in English Literature and has worked as a teacher and as a soft skill trainer. An avid reader, she writes on a variety of topics ranging from health, travel, education and personality development.

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