Digital processing and Instant In-principle Sanction.
- Salaried person/Business persons/Professional/self employed.
- Agriculturists owning agricultural properties.
- A company / firm or in the name of its executive / managing director / managing partner.
- Age limit : 18 years to 60 years
- Income :
Salaried Persons :Minimum gross monthly salary ₹5,000/- or gross annual income of ₹60,000/- p.a.Business persons/Professional/Self Employed : Minimum gross monthly income ₹4,000/.
- Maximum up to 60 months
- Hypothecation of new two wheeler to be purchased.
- Third party/family member co-obligation / guarantee. *Conditions Apply
- Up to 85% of on road price including cost of vehicle+Road tax+Insurance +Registration charges, or ₹2 lakh per vehicle,which ever is lower.
- 15% on on-road cost of vehicle.
- View Latest Rate of Interest
- View Service Charges.
- Upfront charges will be collected (wherever applicable) towards legal, valuation, BIR etc.
Purpose:
- Purchase of new two-wheeler.
The above information is subject to terms and conditions. For more details, please contact the nearest Branch
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Frequently Asked Questions (FAQs) for KBL- XPRESS EASY RIDE
What is KBL- Xpress Easy Ride loan?
KBL Xpress Easy Ride is the money borrowed from the bank through Digital Mode for the purchase of Two Wheeler.
What is the tenure of KBL-Xpress Easy Ride?
The tenure generally varies between 1 to 5 years.
What are the eligibility conditions for availing KBL- Xpress Easy Ride?
- All Individuals who are resident of India.
- He/ She should be above 18 years of age during the sanction of loan and within 70 years.
- Salaried/Professional/Agriculturist/Self Employed/Businessman.
What security do I have to furnish?
- Hypothecation of new two wheeler to be purchased.
- Guarantee/Co-Obligation of a suitable third party/family member, acceptable to the Bank.
What is a down payment/margin money?
Generally, banking & finance institutions finance upto 85% of the cost of the property bought. The remaining 15% of the amount is paid on an up-front basis, which is popularly known as the down payment/margin money.
How much margin money/down payment I have to give?
- 15% on on-road cost of the vehicle i.e. cost of vehicle + Regn. + Road Tax+ Insurance.
- Amount towards extra fittings to be brought in by the applicant.
What are the fees charged by the bank?
Processing fee.
What is an EMI?
EMI or Equated Monthly Instalment is a fixed amount repaid by you to the bank on a specific date every month. The EMI's are fixed when you borrow money from the bank as a loan. EMI's are used to pay both interest and principal amount of a loan in a way that over a specific number of years, the loan amount is repaid in full to the bank along with interest.
What is EBLR?
EBLR stands for External Benchmark Lending Rate. Karnataka Bank has adopted 6 Months T-Bill (Treasury Bill) as the external benchmark to link its floating rate with effect from 01.10.2019.
