Karnataka Bank Personal Loan Interest Rates

For all your valid personal requirements Karnataka Bank has come up with eye catchy interest rates on the personal loan. There are many factors on which Karnataka Bank will decide the personal loan rate of interest like your relationship with the bank, the capability of repayment or entire resources. Thus the bank provides personal loans for various measures of tenures.   

Personal loan interest rates of Karnataka Bank 2017

Particulars

Salaried

Self-Employed

Lowest EMI

NA

NA

Age

From 21 to 55 years

From 21 to 55 years

Loan Tenure (Min-Max)

From 1 to 5 years

From 1 to 5 years

Interest rate

11.45% to 13.95% per annum

11.45% to 13.95% per annum

Processing Fee

It is 0.50% with the least amount of Rs.250/-

It is 0.50% with the least amount of Rs.250/-

Loan Amount (Min-Max)

From Rs.25,000/- to Rs.5 lakhs

From Rs.25,000/-  to Rs.5 lakhs

Foreclosure Charges

It will be 1% of the remaining balance for constant rate of interest

It will be 1% of the remaining balance for constant rate of interest

Prepayment Charges

-

-

Important things to remember regarding Karnataka Bank personal loan rate of interest

Before availing for the Karnataka bank personal loan one should be acknowledged with these many things:

  • There should be clear concepts about the fixed and floating rate of interest. This will help you to select the best one. In case of fixed interest rate, you are asked to pay the same amount for the regular period. But floating will be paid according to market conditions.
  • Notice if the bank has requested for any security for your personal loan.
  • Be acquainted with the credit points and never let your credit card scores go down.
  • With the help of personal loan EMI calculator, get to know about the valid rate of interest.
  • For floating interest rate, it will be affected if repo rate fluctuates.

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