Karnataka Bank offers a range of loan products to help you meet your financial obligations, personally and professionally. These loans cater to various requirements, with options such as:
Insta Cash Loan
Ravi Kiran Loan
Xpress Cash Loan
Vidya Nidhi
Each loan has unique features to suit your financial needs. Read on to learn more about the Karnataka Bank Personal Loan eligibility criteria, features, interest rates, and how you can apply for one.
Whether you need quick cash, a longer repayment period, or a higher loan amount, Karnataka Bank Personal Loan is the perfect solution. Here are a few key details to note.
Interest rate |
12%-17% p.a. |
Loan amount |
Up to ₹5 Lakhs |
Tenure |
Up to 60 months |
Processing charges |
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Karnataka Bank online personal loan eligibility |
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Disclaimer: The details mentioned are subject to change at the lender’s discretion.
Before availing a personal loan, you must be aware of Karnataka Bank Personal Loan interest rates. Remember that interest rates vary based on the loan amount and tenure you choose. Furthermore, your credit score and monthly income also impact loan interest rates.
So, it is knowing the interest rates before you avail any loan is crucial. Here’s a brief glimpse of Karnataka Bank Personal Loan interest rates:
Minimum Interest Rate |
12.00% p.a. |
Maximum Interest Rate |
17.00% p.a. |
Disclaimer: The rates mentioned are subject to change at the lender’s discretion.
When availing a personal loan from Karnataka Bank, you need to know about its associated fees and charges. This is so because these charges can impact the total cost of your loan and your repayment ability.
Check out this table outlining fees and charges of Karnataka Bank Personal Loans.
Types of Charges |
Details |
Processing fee |
|
Loan cancellation charges |
Nil |
Part-prepayment charges |
Nil |
Disclaimer: GST (Goods and Services Tax) will apply to all fees and charges. Please refer to the bank's website for detailed and updated information.
You must pay monthly instalments to repay a KBL personal loan. However, using the Karnataka Bank Personal Loan EMI Calculator, you can compute this amount instantly and accurately. This way, you can manage your finances better.
The personal loan EMI calculator factors in your loan amount, the applicable interest rate, and the loan tenure.
Here is how you can calculate a personal loan EMI using a simple example. Assume that X opts for a KBL personal loan of ₹3 Lakhs, at an interest rate of 12.50% for five years.
The table below showcases the EMI, total repayment amount, and interest amount.
Amount of Loan |
Rate of Interest |
Tenure |
Monthly Instalment |
Total Interest Amount |
Total Amount |
₹3,00,000 |
12.50% |
1 |
₹26,725 |
₹20,698 |
₹3,20,698 |
₹3,00,000 |
12.50% |
2 |
₹14,192 |
₹40,613 |
₹3,40,613 |
₹3,00,000 |
12.50% |
3 |
₹10,036 |
₹61,299 |
₹3,61,299 |
₹3,00,000 |
12.50% |
4 |
₹7974 |
₹82,752 |
₹3,82,752 |
₹3,00,000 |
12.50% |
5 |
₹6749 |
₹1,04,963 |
₹4,04,963 |
Disclaimer: The prescribed loan amounts and interest rates levied may change from time to time based on the financial institution’s policies.
Month | Starting Balance | EMI | Interest rate | Principal contribution | Interest contribution | Ending Balance |
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When you opt for a KBL personal loan, you can calculate your EMIs manually using the following formula:
EMI = [ P x R x (1+R) ^ N ]/[(1+R)^N-1]
Here,
P stands for the principal loan amount
R means the rate of interest
N is the repayment tenure
Karnataka Bank offers a range of financial products to meet your financial needs. However, amongst personal loans, it provides only a single type of loan called the KBL Xpress Cash Loan.
You can easily avail this unsecured personal loan online with minimal documentation and simple eligibility criteria. While you can get a maximum loan amount of up to ₹5 Lakhs, you get a maximum repayment period of up to 60 months.
Before you apply for a personal loan, know its features and benefits. Here are a few of them:
Amount: You can avail a maximum loan amount of up to ₹5 Lakhs on an Xpress Cash Loan.
Flexible Tenure of Repayment: When you opt for a Karnataka Bank Personal Loan, you get a maximum repayment tenure of up to 60 months.
Wide Range of Schemes: Using Karnataka Bank Personal Loans, you can meet your personal and business needs.
Seamless and Hassle-Free Application Process: You can apply for a Karnataka Bank Personal Loan online from your home by submitting your application on its website.
To be eligible to apply for a Karnataka Bank Personal Loan, you must meet the following criteria:
You must be at least 21 years of age
You must be either a government or private service employee, having worked for at least 6 months
You must not have a pre-existing loan from Karnataka Bank
To avail a KBL personal loan, you must submit the following documents:
Proof of Identity such as a Passport, Voter ID card, Aadhaar card, or Driving licence
Proof of Residence such as a Passport, Utility bill, or Rental agreement
Bank Statement for the last 3 months
Last 3 month’s salary slip
2 passport-size photographs
To avail a Karnataka Bank Personal Loan, apply online using the steps mentioned below:
Step 1: Visit the official Karnataka Bank website, and under the ‘Loan’ tab, click on the ‘Personal Loan’ section
Step 2: Click on ‘Apply Now,’ and if you are an existing customer, log in using your credentials
Step 3: Enter the OTP you received on your registered mobile number
Step 4: Enter personal details such as name, email id, and mobile number, if you are a new member
Step 5: Submit the application form and necessary documents
Step 6: Get funds credited to your account after the bank verifies and approves your loan
You can also apply for a KBL personal loan offline by visiting the nearest Karnataka Bank branch and completing the application form.
To get in touch with Karnataka Bank customer care, you can call Karnataka Bank's customer care toll-free numbers at 1800 425 1444 and 1800 572 8031. Alternatively, you can also send an email to info@ktkbank.com. Make sure to state your query clearly.
You may also visit your nearest Karnataka Bank branch and speak to a customer care representative. You can find the nearest branch using the bank's official website or mobile app.
Karnataka Bank is active on social media platforms such as Twitter and Facebook. You can send a message or tweet your query or complaint, and the customer care team will get back to you.
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The maximum personal loan Karnataka Bank offers is ₹5 Lakhs under the Xpress Cash Loan.
Yes, you must be at least 21 years of age.
The bank approves the Xpress Cash Loan within 10 minutes of application.
You can calculate the Karnataka Bank Personal Loan EMI using the EMI Calculator online.
The CIBIL score required for a personal loan in Karnataka Bank is typically 750 or above. However, meeting the minimum score requirement does not guarantee loan approval, as other factors, such as income and credit history, are also considered.