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Karnataka Bank Business Loan

Home Business Loan Karnataka Bank

Karnataka Bank offers Quick Business Loan to offers fund-based lending to MSMEs based on their last 2 years’ average sales/revenues, supported by filed GST returns. The business loan interest rate under Quick Business Loan offered is 9.75% p.a. onwards with maximum loan amount up to Rs. 50 lakh. The repayment tenure offered is up to 35 months as per Demand Promissory Note (DPN) and 12 months for the Overdraft facility.

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Get Karnataka Business Loan at lowest interest rates

  • Offers from India's top banks & NBFCs
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Apply for Business Loan Starting From 16%

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City: Gurgaon

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Updated: 25-08-2022 05:53:44 AM

 

                    Karnataka Bank Business Quick Loan – Highlights – 2022
PurposeFor business improvement activities, including the advertisement, office furnishing, repair to equipment and fixed assets, etc.
Interest Rate9.75% p.a. onwards
Loan AmountRs. 10 lakh – Rs. 50 lakh
Repayment Tenure
  • PS Overdraft: 12 months
  • PS DPN: Up to 35 months
Security·         Mortgage of immovable properties shall be 100% of exposure

·         Bank owns Deposits, NSCs, Life Insurance policies of IRDA authorized company with surrender value

Note: Additional interest concession is offered for women entrepreneurs, MSMEs having Zero Defect Zero Effect (ZED) Certification and also for security coverage above 125%.

Appy for Business Loan starting @ 16% p.a. Apply Now

Eligibility Criteria

  • Applicant should be legal entity, compatible to MSME classification guidelines
  • Age: Maximum should be within 70 years of the loan tenure
  • Credit Score: 675 and above
  • CRIF Score: 700 and above for Non-individuals
  • Enterprise should be in profit for the last 2 financial years
  • Enterprise should be filing GST returns for the last 2 financial years
  • Applicants with NPA/closed under OTS will not be considered

Best Working Capital Loans Loan offers are just a click away Apply Now

 Fees & Charges

  • Processing Fee: 0.50% of the sanctioned loan amount
  • Bank generally charges upfront fees and processing charges
  • Upfront fees are for background information, legal and valuation charges
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