|Karnataka Bank Personal Loan Highlights|
|Interest Rate||14.28% p.a.|
|Loan Amount||Up to Rs 5 lakh|
|Loan Tenure||Up to 5 years|
|Processing Fees||Up to 2% of loan amount (Min. Rs 2,500 & Max. Rs 8,500)|
Note: Rates as of 6 December 2023
Karnataka Bank Personal Loan Interest Rates
Karnataka Bank Personal Loan interest rate for salaried applicants (for both private & government employees) is 14.28% p.a. While the bank has not disclosed differentiated personal loan interest rates on the basis of parameters like the applicant’s credit score, employer’s profile, EMI/NMI ratio, employer’s profile, etc., most banks and NBFCs look into these parameters when setting interest rates for their personal loan schemes. Therefore, before applying for a personal loan, individuals (especially those with good credit profile) should compare offers from as many lenders as possible.
Comparing Personal Loan Interest Rates of Karnataka Bank with Other Lenders
|Axis Bank||10.49% onwards||Apply Now|
|IndusInd Bank||10.49% onwards||Apply Now|
|IDFC First Bank||10.75% onwards||Apply Now|
|HDFC Bank||10.50% onwards||Apply Now|
|ICICI Bank||10.65% onwards||Apply Now|
|Kotak Mahindra Bank||10.99% onwards||Apply Now|
|Tata Capital||10.99% onwards||Apply Now|
|Bajaj Finserv||11.00% onwards||Apply Now|
|Federal Bank||11.49% onwards||Apply Now|
|DMI Finance||12.00% - 40.00%||Apply Now|
|L&T Finance||12.00% onwards||Apply Now|
|Kreditbee||12.25% - 30.00%||Apply Now|
|MoneyTap||13.00% onwards||Apply Now|
|Piramal Finance||12.99% onwards||Apply Now|
|Aditya Birla||13.00% onwards||Apply Now|
|Moneyview||15.96% onwards||Apply Now|
|Cashe||27.00% onwards||Apply Now|
Karnataka Bank Personal Loan Processing Fees and Other Charges
Monthly EMI ₹ 15,622
Total Amount Payble ₹ 5,62,395(Principal + interest)
Principal Amount ₹ 5,00,000
Total Interest Payble ₹ 62,395
Types of Karnataka Bank Personal Loan
KBL Xpress Cash Loan
Purpose: Karnataka Bank offers KBL Xpress Cash Loan to government and private sectors employees having at least 6 months of work experience. The loan has no end-use restriction; and therefore can be availed to cover any personal or business related expenses.
Tenure: Up to 5 years
Loan Amount: Up to Rs 5 lakh
Processing Fees: Up to 2% of the loan amount, subject to a minimum of Rs 2,500 and a maximum of Rs 25,000 for salaried customers
Eligibility for Karnataka Bank Personal Loan
Customers planning to apply for Karnataka Bank Personal Loan must meet its eligibility criteria given as below:
- Indian residents working in government and private sectors with at least 6 months of work experience can apply for the loan.
- The age of the applicant should be at least 21 years.
- The applicant should not have an existing unsecured personal loan from Karnataka Bank.
While evaluating your personal loan eligibility, the bank may also look into your credit score, minimum income and repayment capacity.