Interest Rate
12.50 - 12.50
Processing Fee
0%
Loan amount
100000.00 - 500000.00
Tenure
5 years
Avail finance for purchase of household articles / consumer durables, Children's education, Marriage and thread ceremony of self / dependents, Medical expenses of self / dependants, Obsequies expenses, Repair of own house.

Borrow maximum up to 10 times of monthly gross salary or Rs.5 lakh.

Enjoy flexible tenure as long as 60 months.

Karnataka Bank Personal Loan

Karnataka Bank Personal Loan at a glance

Annual Interest Rate

11% - 12.55%

Loan Term

12 Months - 60 Months

Loan Amount

Rs. 10,000 - Rs. 5 Crores

Time of Funding

Within 3 to 4 days

Pre-Payment Charges

Nil

Documentation

  • Personal Loan Application along with Recent Passport Sized Photograph
  • Identity Proof (any one of the following):
    • Passport
    • Driving License
    • PAN Card
    • Aadhaar card
    • Voter ID Card
  • Residence Proof (any one of the following):
    • Passport
    • Ration Card
    • Voter ID
    • Utility Bill including Gas Bill (Only in case of Pipeline Connection)
    • Registered Agreement
  • Age Proof (any one of the following):
    • Voter ID
    • PAN Card
    • Passport
    • Aadhaar Card
    • Birth Certificate
    • Any Other Certificate from a Statutory Authority
  • Income Proof (any one of the following):
    • Bank statements or passbook for last 6 months
    • Latest 3 Months Salary Slip
    • Form 16
    • IT Returns
  • Processing fee cheque

Compare Karnataka Bank Personal Loans to Other Banks

Bank Name Karnataka Bank

APR

11.11% - 12.66%

Maximum Lending Amount

Rs. 5 Crores

Processing Fee

0.50% of the Loan Amount

Min Rs. 250

Guarantor

Necessary

Pre-Closure

Nil

Lending Terms

  • Interest Rate Range: 11% - 12.55% per annum
  • Loan Amount: Minimum Rs. 10,000 to Maximum up to Rs. 5 Crores
  • Loan Duration: Minimum 12 Months to Maximum 60 Months
  • Loan Disbursement: Within 3 to 4 days

Karnataka Bank Personal Loan Rate of Interest

Personal Loan Type Applicable Interest Rate

Karnataka Bank Salary Loan

Personal Loan for Salaried

12.55% per annum

Karnataka Bank Insta Cash Loan

11% per annum

Loan Offerings

Karnataka Bank Salary Loan

  • Interest Rate Range: 12.55% per annum
  • Loan Amount: Up to 10 times of monthly gross salary, subject to maximum Rs. 5 Lacs.
  • Loan Duration: 12 Months - 60 Months
  • Processing Charges: 0.50% of the loan amount or minimum Rs. 250.

Karnataka Bank Insta Cash Loan

  • Interest Rate Range: 11% per annum
  • Loan Amount: Minimum Rs. 10,000 to Maximum up to Rs. 5 Crores
  • Loan Duration: 12 Months - 60 Months
  • Processing Charges: 0.50% of the loan amount or minimum Rs. 250.

FAQs

Do I have to provide any security or guarantee to avail Karnataka Bank Salary Loan?

Yes. Karnataka Bank currently demands a co-obligation of a suitable guarantor who should be a permanent employee of reputed companies, schools, colleges or universities, for personal loan of up to Rs. 3 Lacs.

In case of personal loan above Rs. 3 Lacs, co-obligation of a suitable guarantor who should be a permanent employee of reputed companies, schools, colleges or universities, is necessary along with a Liquid security of LIC policies(SV), NSC, deposits to the maximum 25% of the limit.

What are the requirements for security or guarantee for Karnataka Bank Insta Cash Loan?

In case of Insta Cash Loan, a security in the form of NSCs / Kisan Vikas Patras / Post Office Time Deposits is necessary to be provided.

Do I have to provide any margin money to avail personal loan from Karnataka Bank?

Margin money for personal loan is not necessary to be provided, except in the case of Insta Cash Loan where a 10% to 40% margin money is mandatory.

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