Karnataka Bank is the pride of the statehood of entire Karnataka, which has different schemes for personal loans. It has realized the true needs of individuals in a family and organizations and for this, it has made available very flexible schemes for availing personal loans. The types of loans in its product range are Vidyanihi education loan scheme, apna ghar home loan scheme, car finance scheme, Varthak loans, easy ride loans, related schemes of loans for the salaried people, udyog mitra, and krishi card loans etc etc.
Application for the loan-an easy process
Follow this URL and view your place amongst the list of branches. Discussing the process of loan application with the branch head can really be a pleasure.
Just seelct the branch type, your state and city, it will display the nearest branch.
Download the application form
Downloading the application form is very easy, just follow this link and as you see three types of loans under the heading of loans at the end of the page listed separately, you can click on the particular form and get it downloaded.
File your application at the nearest branch
Once you get the form downloaded and after filling it with all your details, you can submit it with all your credentials.
Documents along with the application form
You can submit the form along with the photograph, income statement, guarantor’s certificate, address proof, and identity proof.
The way the loan gets disbursed
The loan gets disbursed and gets transferred to your account in the branch.
Maximum amount of finance
You can at best get 10 times of monthly gross salary. You can take maximum of Rs 25,000, in case you are self-employed through a single withdrawal. It depends on the power of the branch manager.
Period of repayment
The repayment can be done by a self-employed maximum within 12 months, whereas a salaried person can repay within 60 months.
Rates of interest
In case a salaried person wants a personal loan, the applicable rate of interest is 15.75% and for a self-employed person, the rate of interest is fixed at 16%. While the latest interest rates of personal loan is BR + 5 % applicable for durable loans whereas under schemes its BR + 6.50 %.
Processing time for the loan
The loan application gets processed within a time period of 5 days.
Can you check the status of your loan application online?
Yes, you can. For this, you need to have a savings bank account in the branch, where the entire sum of the loan would be transferred by the bank. You need to do registration for net-banking facility of the bank and log in with your username and password. You can apply and access the status of your loan application from your account.