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If a Karur Vysya Personal loan is to be closed, there are certain steps that should be followed. These steps will help you in comprehending what is needed for the personal loan closure. If an individual has understood the loan closure process in the correct manner, then it has to be followed too. The entire loan closure process should not have any loopholes.
How to Close KVB Personal Loan through Creditseva
Creditseva provides you with a platform for analysing the right things to be done while closing a Karur Vysya Bank Personal Loan. The DIY tools and apps will help you in closing your loans easily and also in a hassle free manner and at the same time will also make you eligible for new loans.
Points to Be Kept in Mind While Closing Karur Vysya Bank Personal Loan
If an individual is planning to close their personal loan, the following are the steps that should be kept in mind. By keeping in mind these points, you will be able to save a lot of time.
1. Keep Your Personal Loan Account Easily Available With You: It is important that you keep your personal loan account number with you easily available.
2. Documents Required To Be Carried: You need to keep with you the following documents like Loan Account Number, DD for the purpose of Pre-Closing the Personal Loan and Your ID Proof.
3. Receipt of Acknowledgement for Pre-Closure: You need to provide a cheque or DD for the pre- closure of the personal loan. Also, make sure that you have collected the receipt of the acknowledgement for pre-closure. It is better to avoid pre-closing the loan with cash.
4. Receive A Quote for Closure: It is required that you ask the lender clearly about the charges that you will have to pay for the pre-closure. You can call the customer care of the bank and ask for the amount that you should be paying for pre-closing the personal loan. Some banks do not allow pre-closure of a loan by paying the amount at the bank’s branch. They provide the borrowers with an email address and ask to send a DD by courier for the purpose of closing the personal loan.
5. It should be noted that you have received the pre-closure confirmation in a span of 15 days. In case there are any issues that arise, you should follow up by showing the receipt of the acknowledgement for pre -closure of the loan.
Steps for Closing a Karur Vysya Bank Personal Loan
Before closing a personal loan, an individual needs to check for all the specifications mentioned in the loan agreement. This will help an individual in staying cautious of the mistakes that could happen while closing a Citibank Personal Loan. Given below are the steps that should be followed while closing a Citibank Personal Loan.
1. You need to call the bank on their customer care number or visit the bank personally to ask about the procedure to be adopted for closing a personal loan.
2. The next step is to check which branch you will have to approach for closing the loan.
3. You need to check with the bank for the appropriate charges that would be charged as penalty for closing the loan.
4. It is important that you keep all the important documents with you ready when you are going to close your personal loan. The list of all the important documents is as follows
- ID Proof and its Xerox Copy
- Amount of loan amount that is to be paid
5. One more crucial thing to be checked whine planning a loan closure is the date when you are closing your personal loan. You should plan to close your loan account by looking carefully at the date when you pay your EMI every month.
Finally, after the completion of all the steps in the personal loan closure, you will be provided with the letter of acknowledgement. You should keep this letter at a very safe and secured place. You will receive the agreement for the final personal loan closure after the loan has been closed completely and successfully.
KVB Personal Loan Closure FAQ’s:
1. Can I pre-pay the Karur Vysya Bank Personal Loan?
Karur Vysya Bank allows the prepayment of a personal loan.
2. When is the prepayment allowed for Karur Vysya Bank Personal Loan?
The Prepayment of Karur Vysya Bank personal loan can be done after the payment of the basic number of EMIs that has been specified by the bank.
3. What are the preclosure charges of Karur Vysya Bank Personal Loan?
Pre-closure charges of a Karur Vysya Bank personal loan are decided by the bank based on the loan amount and the amount that is outstanding.
4. How will I receive the Statement of Foreclosure for Karur Vysya Bank Personal Loan?
The loan applicant will receive the Statement of Foreclosure for the Karur Vysya Bank Personal Loan through an email that has been sent to the loan applicant. This is done within a couple of days after the requestfor the personal loan closure.
5. How is the foreclosure amount of a loan calculated?
The amount of foreclosure of a Karur Vysya Bank Personal Loan is ascertained by evaluating the EMIs that have been previously paid and the amount of the personal loan that is still to be paid.
6. When can the prepayment of the Karur Vysya Bank Personal Loan be done?
Karur Vysya Bank Bank Personal Loan can be done immediately.
Personal Loan Closure By Banks
- Personal Loan Closure
- Axis Bank Personal Loan Closure
- Andhra Bank Personal Loan Closure
- HDFC Bank Personal Loan Closure
- ICICI Bank Personal Loan Closure
- SBI Personal Loan Closure
- Citibank Personal Loan Closure
- Bank of Baroda Personal Loan Closure
- Capital First Personal Loan Closure
- Allahabad Bank Personal Loan Closure
- Fullerton Personal Loan Closure
- IDBI Bank Personal Loan Closure
- IndusInd Bank Personal Loan Closure
- Standard Chartered Bank Personal Loan Closure
- Tata Capital Personal Loan Closure
- Union Bank Personal Loan Closure
- Bajaj Finserv Personal Loan Closure
- Kotak Bank Personal Loan Closure
- Yes Bank Personal Loan Closure
- SBH Personal Loan Closure
- HSBC Personal Loan Closure
- Oriental Bank Personal Loan Closure
- RBL Bank Personal Loan Closure
- PNB Personal Loan Closure
- J&K Bank Personal Loan Closure
- IOB Personal Loan Closure
- Karur Vysya Bank Personal Loan Closure