Your choice, your ease
When life throws opportunities or challenges your way, a little support goes a long way. Whether it's for managing unexpected expenses, funding a dream wedding, furthering education or even consolidating debts, personal loans offer the flexibility and time you need. Unlike specific loans like home or auto loans, personal loans don't restrict how you use the funds, giving you the freedom to address a wide range of personal financial needs. The process is typically straightforward with instant process, here to fulfill the many needs you may have . Read more
Make matters simple and straightforward
A smart calculator for smart spending and savings
Emi Calculator
You will pay
₹13,800/Months
Why choose our personal loans
Getting you where you need to go
Enjoy multiple loan types for whatever you may need
Simplified terms and conditions for a smooth experience
Starting as low as 11% per annum
Who can apply for our personal loans
- Individuals who are resident of India
- Individuals at least 18 years old
- NRIs holding an Indian passport
- Minimum salary of ₹10,000 for salaried
- Minimum income of ₹120,000 for businessmen and self employed
BANKING WITH YOU
Here for you, always
24/7 support for your banking needs
Banking with trust, expertise and care
Expanding the KBL family everyday
“Aap ka bank bharat ka karnataka bank”
Karnataka Bank
“It was very easy to use and helpful. The staff are very friendly and helpful”
Carol Dsouza
KBL Xpress Car Loan
“It was like quick, hassle-free, fully digital. Outstanding and excellent.”
Mr. Shadul Umaji Yadhav
KBL Mobile Plus
“I just wanted to open a new personal account. So my business partner recommended me to open an account in Karnataka Bank and I am quite happy with my decision. They (the staff) are very kind, very supportive and they attend to you very well.”
Karan Deodatta Pradeshi
Savings Account
“It was like quick, hassle-free, fully digital. Outstanding and excellent.”
Mr. Shadul Umaji Yadhav
KBL Mobile Plus
Got questions? We’ve got answers.
A personal loan is an unsecured loan that you can use for a variety of purposes, like home renovation, education, or a wedding. It's a flexible solution to meet your immediate funding needs, without collateral.
Equated Monthly Installment is a structured payment method that enables you to repay your loan in fixed monthly amounts. This includes both the interest and the principal, designed to reduce your loan balance while fitting into your monthly budget comfortably.
Eligibility depends on factors like your income, employment status, credit score, and age. These factors help us assess your ability to repay
the loan.
Typically, we use the Reducing Balance Method, which applies interest only on the outstanding loan amount. As you pay off the loan, the principal amount reduces, and the interest for subsequent periods is calculated on this reduced balance.
Yes, you can prepay your loan. It's advisable to check if there are prepayment charges involved, as this varies from loan to loan.
Personal loans are unsecured loans that provide financial flexibility for a variety of personal needs, such as debt consolidation, home renovation, travel, or emergency expenses. The key advantage is the lack of a requirement for collateral, making it accessible to a wider range of borrowers. Personal loans usually offer quick processing and disbursal, with minimal documentation. They can also be tailored in terms of amount and tenure, typically ranging from 1 to 5 years, to suit the borrower's needs.
The interest rates on personal loans are higher than secured loans due to the higher risk borne by the lender. These rates can vary greatly depending on the lender, the borrower’s credit score, income level, and employment stability. When opting for a personal loan, it’s important to compare offers from various lenders. Consider the total cost of the loan, including interest, processing fees, and any prepayment penalties. A good credit score can significantly lower the interest rate and improve the terms of the loan.
Do maintain a healthy credit score to qualify for better loan terms. Evaluate your financial situation and only borrow what you can afford to repay. Plan your loan tenure and EMIs based on your repayment capacity. Don't ignore the fine print in the loan agreement, especially regarding fees and penalties. Avoid taking a personal loan for impulsive purchases or investments with high risk.
Securing a personal loan can be a significant financial step. Whether you're consolidating debt, financing a major purchase, or covering unexpected expenses, understanding the nuances of personal loan interest rates and terms is essential. Our bank offers a variety of quick personal loans, catering to your urgent financial needs with fast and easy approval processes. By leveraging digital technology, we ensure a paperless and hassle-free experience, making it easier than ever to apply for a personal loan online. Our transparent guidelines help you comprehend how to take a personal loan online, ensuring you’re well-informed every step of the way.
