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Karur Vysya Bank Car Loan Customer Care

Karur Vysya Bank 24*7 customer care toll-free number for all general enquiries is 1860 200 1916 .

Karur Vysya Bank is more than a hundred year old private sector bank operating in India and has a host of products and services like retail banking, corporate banking, catering to MSME and NRI customers, Agricultural Banking, insurance, loans among others for the benefit of the customers and enabling them to have an ease of banking car loan.

Karur Vysya Bank has a dedicated customer care service that is available to help the customers with any queries or concerns that they may have.

Karur Vysya Bank Car Loan Customer Care
Karur Vysya Bank 24X7 Car Loan Customer Care Number

What is the Karur Vysya Bank Car Loan Customer Care?

Karur Vysya Bank Car Loan Customer Care

The customer care service of Karur Vysya Bank well trained executives available to handle all types of queries or information required by the customers regarding any of the products or services offered by the bank. The bank has separate helpline numbers for its customers in India and the customers outside India. The details to contact the customer care service of the bank are highlighted below.

  • General Enquiry number for customers in India - 1860 258 1916 (call charges applicable)
  • General Enquiry number for customers outside India – +91 44 6621 7600
  • Email Id - customersupport[at]kvbmail[dot]com
  • Customer care facility for NEFT – 022 24398199
  • Email Id - neftcfc[at]kvbmail[dot]com (contact person is the Manager)
  • Customers can also contact the Divisional Office of the Bank to get any assistance that they may require. The contact details of the Divisional Offices are available at the bank’s website.
  • The bank also has a number of country specific customer care numbers for the customers outside India to contact the bank with specific queries or information that they may require. Also the customers are expected to furnish the required information to the customer care executives in order to enable them to better assist the customers. The details of the same are enlisted below:
COUNTRYTOLL FREE NUMBER

            Australia 

1800 450 346

            Hong Kong

800 900 782

            Canada

866 639 1911

            United Kingdom

0800 1609 5189

            Singapore

800 4481 250

            United States

866 765 9644

            France

0800 904 349

            Germany

0800 182 2891

            Japan

0120 133 163

The customers can call on 410 5819994 in order to report a loss or theft of card if they are in any other part of the world.

Customers can also use the interactive voice response

What is a Car Loan?

Car loans are easy financial assistance provided by a public or private bank to individuals or other eligible applicants (if any, depends on the policy of the bank in this regard) to buy a car. The customers can get even up to 100% of the value of the car as the amount of loan that is finally disbursed under certain cases.

Details of Karur Vysya Bank Car Loans

Karur Vysya Bank offers car loans for personal/business use as well as a special scheme for Transport Operators. In case of car loans for personal/business use, the said loans are provided for the purchase of both new/ fresh cars as well as used cars. The details of the car loans available for personal use are given below.

  • Eligibility – 

This scheme is available to all the individuals who are the residents of the country except those who are in the business of car hire.

The bank also extends this scheme for business use other than the personal use of the consumers.

There is however a stipulation imposed by the bank with respect to the loan that is sought for purchase of used cars. The loan can be secured in such case only if the used car is not older than 5 years from the date of manufacture.

  • Rate of interest – 

The rate of interest offered by the bank on the car loans is floating in nature. The general rate of interest applicable to the customers is:

SchemeMinimum rate % per annum
Flexi Mobile (car loan for new cars)9.45%10.55%
Flexi Mobile (car loan for used cars)12.00%16.50%
  • Tenure – 

The bank offers a maximum repayment tenure of 84 months (7 years) in case of loan for new cars and in case of loan for used cars the maximum repayment tenure is 60 months (5 years).

  • Collateral/ Primary Security – 

The bank considers the vehicle so purchased out of the loan to be a primary security against such loan and further collateral requirement is optional depending on the policies or the guidelines of the bank in this regard.

  • Margin – 

The bank has specified margin requirements for loans taken for new cars or used cars. The details of the same are:

Type of carMargin requirement
Loan for New Cars10% of the value of the vehicle
Loan for Used Cars40% of the value of the vehicle
  • Processing charges –

The processing charges for a loan up to Rs. 10,00,000 is Rs. 3,000 and for loans above Rs . 10,00,000 the processing charges are Rs. 7,500.

The bank also requires a suitable guarantor (preferably spouse or member(s) of the family or friends) Apart from the above conditions and features, the bank also requires that the minimum take home pay of the individual after considering the proposed EMIs should be a minimum of 25% of the gross pay and the payments have to be given directly to the seller/dealer y way of DD/NEFT/RTGS/Account transfer, etc. a s agreed between the concerned parties.

Grievance Redressal/Feedback

The bank has a systematic policy in place to address all the complaints/grievances raised by the customers regarding any of the banking transactions or products or services offered by the bank. The customers can contact the branch directly to register their complaints/grievances  or give their feedback or the customer care of the bank for the same through their helpline number available 24x7 i.e.,

For domestic customers - 1860 258 1916 (call charges applicable)

For customers outside India - +91 44 6621 7600

Email Id - customersupport[at]kvbmail[dot]com

Alternatively, customers can also contact the respective Departmental Heads of the bank depending on the nature of their complaint/grievance. The contact information of such Departmental Heads is available hereunder.

Department / Line FunctionDesignation of the ExecutiveAddress

Retail Deposits, Direct Selling Agents, Levy of Charges

Assistant General Manager, Personal Banking Group,

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

Retail Advances and Recovery Agents

Assistant General Manager, Personal Banking Group,

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

Commercial / Institutional CASA & Deposits

Assistant General Manager, Corporate and Institutional Group

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

Commercial / Institutional Loans, Failure to meet Commitments

Assistant General Manager, Corporate and Institutional Group

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

Rural / Agricultural Loans

Assistant General Manager, Agricultural Banking Group

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

ATMs, Credit / Debit Cards, Net banking, Mobile Banking, Point of Sales

Chief Manager, ATM CELL

338/1,
Uffizi Complex,
Peelamedu,
Avinashi Road,
Coimbatore-641004

Notes and Coins

Assistant General Manager, Operations Department

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

Customer Service, Cheque Collection, Clearing and other Unspecified Matters

Assistant General Manager, Operations Department

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

Forex Related Matters and Inward Remittance

Deputy General Manager, Central Forex Processing Centre

Karur Vysya Bank,
Unit No 156/4 IInd Floor,
Jeevan Anand Building,
No 556 Anna salai Teynampet,
Chennai-600018

Insurance, Mutual Funds

Assistant General Manager, Personal Banking Group

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

Tax Related Matters

Chief Manager ,Funds Control Department

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

Staff Related Matters

Assistant General Manager, Human Resource Department

Karur Vysya Bank,
Central Office,
No. 20, Erode Road,
Vadivel Nagar, L.N.S.,
Karur-639002

The customers can also escalate their complaints /grievances to the Customer Care Cell in case of unsatisfactory response received or no response received from the above channels. The contact details of such escalation are enlisted here,

  • The General Manager,
    Operations Department,
    The Karur Vysya Bank Ltd,
    Central Office,
    No. 20, Erode Road,
    Vadivel Nagar, L.N.S.,
    Karur - 639002

Email id – customerservice[at]kvbmail[dot]com

  • MD & CEO,
    The Karur Vysya Bank Ltd,
    Central Office,
    No. 20, Erode Road,
    Vadivel Nagar, L.N.S.,
    Karur – 639002

Email id – kvbod[at]kvbmail[dot]com

Customers can register their grievance/complaints related to the National Pension System at nps[at]kvbmail[dot]com

About the bank

Karur Vysya Bank was incorporated in the year 1916 and has a huge network of about 788 branches and around 1800 ATMs across the country.

FAQs:

1. What is the minimum rate of interest charged for loans on used cars?

The minimum rate of interest charged on the loan for used cars is approximately 12.00%.

2. What is the margin requirement for loan on used cars?

The bank requires a margin of 40% of the value of the vehicle in case of loan for used cars.

3. Is the Flexi mobile car scheme applicable for transport operators or persons involved in the business of car hire?

The Flexi mobile car loan scheme of the bank does not apply to those in the business of car hire and for the transport operators, the bank has a separate loan scheme applicable to them exclusively.

4. What is the maximum tenure available in case of loan for new cars?

the bank offers a maximum tenure of 84 months (7 years) to repay the car loan taken for purchase of new cars.

5. Does the bank need additional security /collateral for the car loan?

The bank considers the car so purchased out of the loan as a primary security that can be hypothecated in the event of non-repayment of the loan. The need for additional collateral is optional, based on the credit profile of the applicant, his/her relationship with the bank, the bank’s guidelines in this regard, etc.

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