[nilesh]

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Can you tell me about the interest rates levied by Lakshmi Vilas Bank for Personal Loans Scheme for its customers as I want to apply for Loan in it?

[Vishal Kotkar]

Lakshmi Vilas Bank Personal Loans are loans offered to individuals and groups and are aimed at fulfilling any personal needs that are not covered under traditional loan schemes.

Lakshmi Vilas Bank Personal Loan interest rates have had a marginal change within 1-2% in the past five years and the recent changes in the repo rate from RBI have resulted in a lowering of the interest rate recently.

The interest rates are subject to the repo rate of RBI and may come down further, but not with an immediate effect. The interest rates are floating, not fixed and are among the better rates available in the market.

The Loans require government securities and a larger security amount might impact the interest rate preferably.

LVB Personal Loan Interest Rates 2018

Particulars Salaried Self-Employed

Interest rate 11.65% p.a 11.65% p.a

Loan Amount Minimum Rs.10,000 to maximum Minimum Rs.10,000 to
no cap maximum no cap

Loan Tenure 12 months to 5 years or 2 months 12 months to 5 years
before maturity or 2 months before maturity

Lowest EMI Rs.2206.80 per Rs.1 lakh Rs.2206.80 per Rs.1 lakh

Processing Fee 0.25% of the loan amount 0.25% of the loan amount

Age 21 to 58 years 21 to 58 years

Prepayment Charges Charges applicable at the Charges applicable at the discretion of the bank discretion of the bank