|Karnataka Bank Personal Loan Details Updated on|
Karnataka Bank Personal Loan is up to Rs. 5 lakhs and offered to salaried individuals. This is an unsecured loan offered at starting rate of 12%. You can also take an instant cash loan against securities. Here, the loan is offered as a term loan or overdraft. All you have to do is submit a duly filled and signed loan application form with your KYC documents, and income proof to get the loan. The processing fee is minimal, and the loan processing is quick.
In this post, we will discuss Karnataka Bank personal loan types and their features, eligibility criteria, loan amount, tenure, interest rates, documents required, and frequently asked questions.
Here are the Karnataka Bank Personal Loan features:
You can take this loan to fulfil your expenses. These include the marriage of self or dependents, self or children's education, tourism, obsequies expenses, medical cost for self or dependents, repair of own house, etc.
This is an instant loan against NSC/Post Office Time Deposit/Kisan Vikas Patra, etc. Any person who is over 18 years of age can apply. Other eligible applicants are joint borrowers, Hindu Undivided Family business, and partnership firms.
Karnataka Bank personal loan interest rate details are as follows:
Here are the documents you will need for your personal loan application:
Here are the Karnataka Bank Personal Loan FAQs:
For this Karnataka Bank personal loan, upfront charges are collected wherever necessary. The charges are usually for BIR, valuation, legal procedures, etc. The monthly interest is serviced as and when a debit occurs.
The processing fee is 0.25% of the loan amount, subject to a minimum of Rs. 250.
The fee for a loan up to Rs. 1 lakh is Rs. 2,500. For a loan over Rs. 1 lakh, the processing fee is 25 of the loan amount, subject to Rs. 2,500 and Rs. 8,500 as minimum and maximum, respectively.
EMI bouncing charges are applicable over and above the penal interest on delayed payment. They are as follows:
Rs. 100 is the charge per consumer report. And Rs. 1,000 is charged per corporate report.
The foreclosure charges are 2% of the outstanding balance.
Disclaimer: Information is gathered from secondary sources and meant for reference only. Loanbaba is not a channel partner of Karnataka Bank.
I have a Personal Loan with Karnataka Bank. The loan disbursement was on time and document procedure was quick. I would say it was a satisfactory experience.
As I was holding a savings account with Karnataka Bank they gave me personal loan for which the entire documentation process was very less. It was a quick disbursement procedure.
I had taken a personal loan in Delhi and thankfully the amount I required was completely approved and disbursed. Excellent work.
No compromises, best personal loan in Delhi service by Karnataka Bank.