Lakshmi Vilas Bank Personal Loan Interest Rate

Some features and benefits of Lakshmi Vilas Bank personal loans

• No restrictions on end use of loan amount
• Tenures up to 60 months
• No collateral required
• Lakshmi Vilas Bank loan payment options include payment by Standing Instruction
• Easy and simple documentation
• Eligibility: Individuals including persons coming together to avail the loan in joint names holding National Savings Certificates(NSCs) and Kisan Vikas Patras ( KVPs) &apm; LIC policies

Lakshmi Vilas Bank Personal Loan Interest Rate 2018: 11.25% per annum (subject to current MCLR and periodic review)

Personal Loan Interest Rates in Lakshmi Vilas Bank vary and the interest rates and other charges are subject to periodic review. Lakshmi Vilas Bank Personal Loan Interest can range from 11.25% per annum upwards, depending on your credit history amongst other factors. The final pricing will be based on your income, loan amount, loan tenure, and the bank’s internal policies and the applicable rates at the specific time. For the most accurate information on the Lakshmi Vilas Bank Personal Loan Rate of Interest and other associated fees and charges, it is advisable to contact the bank directly.

How to calculate Interest/EMI on LVB Personal Loan

In order to fulfill your loan obligation, you need to pay a fixed amount every month on a fixed date. This is known as EMI or Equated Monthly Installment. Each EMI consists of payment towards the principal and interest component of your loan.

It is simple to calculate your personal loan EMI payments using LVB’s online Personal Loan EMI Calculator. The calculator arrives at your EMI amount including the interest amount. The calculator saves time and is easy to use. You can find out your EMI instantly which can help you with your monthly personal budgeting.

How CIBIL™™ score affects Lakshmi Vilas Bank Personal Loan Interest Rates

Your credit score is a reflection of your payment behaviour and record of paying off your loans on time. Banks often use an applicant’s credit score to evaluate if he/she is creditworthy. If you have a poor credit score, your chances of being approved decrease. It is a good idea to remain updated of your credit score when you plan to apply for a personal loan so that you avoid the chance of rejection. You can obtain your credit score by requesting your credit report from one of the credit bureaus in India. It is generally advisable to have a credit score of at least 750 when applying for a personal loan.

It is more difficult to secure a loan if you if you have bad credit. If you have a poor credit score and your loan application is approved, you might have to pay a high interest rate and other unfavorable terms on your loan.

Lakshmi Vilas Bank Personal Loan Status

Once the Bank receives a completed application form along with the required documents, it determines your eligibility for a personal loan. If you qualify, you will get sanction for a specific loan amount based on your requirement and repayment capability. You can contact the customer care department for help with tracking your loan application.

Lakshmi Vilas Bank Personal Loan Interest Rate FAQs

How to apply for a Lakshmi Vilas Bank Personal Loan

There are several ways of applying for a LVB Personal Loan:

- You can apply online for the loan product at the LVB website and a customer representative will contact you by phone or email

-You can go in person to your nearest branch with the required documentation

-You can contact the customer care department

Need help with advice on eligibility and on which loan offer suits you the best?

If you want to apply for a personal loan with the lowest interest rates as applicable to your unique credit profile, CreditMantri can guide you through the entire application process and match you with the loan offer best suited to your credit needs.