Karur Vysya Bank is a private-sector Indian bank set up in 1916 by M. A. Venkatarama Chettiar and Athi Krishna Chettiar. It is one of the largest old generation private banks in India and also one of the largest in Tamil Nadu providing Internet Banking and Mobile Banking facilities to its customers.

It is known for its cash deposit machines (CDM) a major technology initiative taken only by few banks in India. It is also an excellent paymaster amongst all private sector banks. It has been paying an ex-gratia each year to all employees for several years.

Marginal Cost of fund based Lending Rate (MCLR), Base Rate (BR) and
Benchmark Prime Lending Rate (BPLR)

Benchmark Prime Lending Rate –
BPLR (w.e.f 07.10.2016): 15.30%

Base Rate –
BR (w.e.f 07.10.2016): 10.30%

Marginal Cost of funds based Lending Rate –
MCLR (w.e.f 07.01.2017)

Type of MCLR Interest Rate Period of Applicability

Overnight MCLR 9.20% p.a 1 day and above and less than 1 month

One-Month MCLR 9.20% p.a 1 month and above and less than 3
months

Three-Month MCLR 9.20% p.a 3 months and above and less than 6
months

Six-Month MCLR 9.40% p.a 6 months and above and less than 1 year

One-Year MCLR 9.60% p.a 1 year and above

All rupee loans sanctioned and credit limits renewed w.e.f January 7, 2016 will be priced with reference to the revised MCLR only.