Karnataka Bank Personal Loan Interest Rates

Karnataka Bank provides personal loans at a rate of 13.15% p.a. The loan amount begins at 1 lakh Rupees and can go up to Rs.25 lakh. You have the option of selecting a maximum duration of up to 24 months (2 years).

The loan can be applied to any personal spending of your choosing. The minimum monthly salary you must earn is Rs.10,000. The processing cost is 0.50% of the loan amount, with an Rs.250 minimum.

Details of the Karnataka Bank Personal Loan Schemes

 

Karnataka Bank Personal Loan Interest Rates

11.32% p.a.

Maximum Amount

Rs. 500 lakh

Term

60 months

Processing Fee

0.50%

Characteristics of the Karnataka Bank Personal Loan Scheme

  • Karnataka Bank provides a variety of personal loans to meet the unique demands of different types of applicants.
  • By supplying a few sample papers, you may quickly apply for a Karnataka Bank personal loan online from the convenience of homes or offices.
  • Personal loans from Karnataka Bank have a flexible repayment period that starts at 12 months and can be extended up to 60 months.
  • Karnataka Bank provides three personal loan plans to meet the diverse personal and professional demands of its customers.

Types of Personal Loan Schemes from Karnataka Bank

Following are the types of Personal Loan Schemes from Karnataka Bank-

1) Quick Cash Loan

KBL Insta Cash Loan provides funds for consumption. It is an excellent choice for dealing with both personal and business-related financial difficulties. It is a secured personal loan with Post Office Time Deposits/NSCs/KVPs as collateral.

KBL Insta Cash Loan has the following main features-

  • The maximum payback time for fixed loans is 60 months, while the overdraft facility is 24 months.
  • The interest rate begins at 11.32% p.a.
  • Loan amounts range from Rs. 10,000 to Rs. 500 lakh.
  • Repayable in a lump sum or monthly/quarterly/half-yearly/yearly instalments on the due date.

2) Xpress Cash Advance

KBL Xpress Cash Loan provides you with immediate loans to cover any personal financial need, such as medical expenditures, schooling, wedding, travel, and so on. The loan is simply obtained online and requires little documentation.

The following are some of the important characteristics of the KBL Xpress Cash Loan-

  • The interest rate starts as low as 12% per annum.
  • Within 10 minutes of loan approval, funds were disbursed.
  • A loan amount of up to Rs. 5 lakh is available.
  • Provides a flexible payback period of up to 60 months.

3) Loan to Ravi Kiran

KBL Ravi Kiran Loans can be obtained for the installation of solar lighting systems, solar lanterns, solar water heating systems, and other similar projects. The application process is straightforward and requires little documentation.

The following are some of the important elements of the KBL Ravi Kiran Loan-

  • The interest rate starts as low as 11.67% per annum.
  • A loan amount of up to Rs. 10 lakh is available.
  • It has a flexible repayment period of up to 60 months.
  • As security, the hypothecation of solar energy products with accessories fitted is required, as is a third-party solvent co-obligation/guarantee.
  • It can be paid back in equal monthly/quarterly/half-yearly/yearly instalments.

Karnataka Bank Personal Loan Interest Rate 2022

Here is the table to show the Karnataka Bank personal loan interest-

Type of Loan

Rate of interest for Personal Loan in Karnataka Bank

Instant Cash Loan

11.32% p.a. onwards

Xpress Cash Loan

12% p.a. onwards

Ravi Kiran Loan

11.67% p.a. onwards

Who is Eligible for the Personal Loan Scheme from Karnataka Bank?

  • You must be a government or private sector employee with at least six months of work experience.
  • The minimum eligibility age is 21 years.
  • The minimum monthly income of Rs.15,000 is needed.
  • You should not have an existing Karnataka Bank unsecured personal loan.

Documents Required

The following are the primary documents required to obtain a Karnataka Bank personal loan-

  • Passport/PAN Card/Aadhaar Card/Voter ID/Driving License, etc. as proof of identity (anyone).
  • Utility bill/passport/rent agreement, etc., as proof of residence (anyone).
  • The Bank statement of the last 3 months - including income information
  • Salary slip for the previous three months (for salaried applicants).
  • 2-3 passport-sized photos

Other Charges on the Personal Loan Scheme

Processing Fee

0.50%

Other Bank Interest Rates for Personal Loans

 

Banks/NBFCs

Interest Rates (p.a.)

SBI

10.30%-15.10%

ICICI Bank

10.75% onwards

Kotak Mahindra Bank

10.99% onwards

IndusInd Bank

10.49% onwards

IDFC First Bank

10.75% onwards

HDFC Bank

11.00% onwards

Bajaj Finserv

13.00% onwards

Tata Capital

10.99% onwards

Axis Bank

10.25% onwards

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