Personal Loan Karnataka Bank

The Karnataka Bank Limited is a scheduled bank and one of the renowned bank in the south. This bank
has a base in Mangaluru in Karnataka. The branches of KBL are available in 22 Indian states and 2
union territories.
Karnataka Bank Limited(KBL) provides a personal loan even for low salary individuals. It is the
very good news for those people who earn low and have some financial emergencies. Even, who
earns from rents, pension also can apply for Personal Loan Karnataka Bank
Eligibility criteria for Karnataka Bank Personal Loan:
Eligibilities for Karnataka Bank is very viable for employees as described below:
Minimum Age should be 21 years.
For salaried persons: Minimum gross monthly salary should be ?10,000/-
For retired persons: Disposable income from other than pension should be available.
Purpose:
For meeting personal needs like weddings, holidays, buying a land etc.
Terms of Finance for Personal Loan Karnataka Bank:
Two times of the average annual income of last two years / 24 times of the latest take-home salary.
The loan will be in the range of 1lac to 25 lacs.
Period of Loan:
Maximum: 24 months
Security:
Mortgage of residential/commercial properties /liquid securities with a minimum value of 150% of
applied loan limit.
Any reputed co-employee or obligation of a solvent party.
The guarantee of a spouse also matters in case of absence of 3 rd party solvent guarantor.
Repayment:
On-demand, as per OD rules.
Margin:
33.33% on the value of the security
 
The rate of Interest of Personal Loan Karnataka Bank:
 
Salaried Self-Employed
 
11.45% to 13.95% p.a.
 
11.45% to 13.95% p.a.
 
Loan tenure: 1-5 years
Loan amount: 25,000-5 lacs.
 
The above information is subject to terms and conditions. For more details, please contact the
nearest Branch