Karnataka Bank Car Loan Rate, Eligibility Calculator, Apply Online
Karnataka Bank Car Loan Offer May 2017
|Features and Eligibility||Karnataka Bank New Car Loan Scheme||Karnataka Bank Used Car Loan Scheme|
|Interest Rates||10.25% Floating
Check Best Offers
|Maximum Loan Amount Eligibility||85.00%||60.00% of market value|
|Maximum Loan Tenure (years)||5 years||3 years|
|Lowest EMI per Rs. One Lakh Loan Amount (Rs.)||Rs. 2,137||Rs. 3,238|
|Processing Fee||0.25% Min Rs. 250 Max Rs. 1000||0.25% Min Rs. 250 Max Rs. 1000|
|Interest Calculation||Monthly reducing balance||Monthly reducing balance|
|Age (years)||Between 0 years and 0 years||Between 0 years and 0 years|
Eligibility Condition for Karnataka Bank Car Loan
|Karnataka Bank New Car Loan Scheme||Karnataka Bank Used Car Loan Scheme|
|Minimum Net Annual Income (Rs. lakh)|
|Self employed professionals||1.5||1.5|
|Self employed businessmen||1.5||1.5|
- Car loan EMI calculation varies from bank to bank depending upon the method of calculation.
- The standard convention should be to use the EMI in arrears method on reducing balance basis – whereby you pay interest on the car loan amount outstanding on a reducing basis at or after the end of the month.
- Simply key in the loan amount, rate of interest and car loan tenure here and check the EMI amount using the
car loan EMI calculator here. In case the EMI amount displayed is different from the one advised to you by the agent, you must check the calculation basis with your car loan agent.
Frequently Asked Questions on Karnataka Bank Car Loan
Karnataka Bank car loan interest rates today are 10.25% .What is the lowest EMI per lakh on Karnataka Bank car loan?
If you apply for a car loan from Karnataka Bank, your lowest EMI per lakh will be Rs. 2,137.What is the maximum tenure of Karnataka Bank car loan?
You can repay your car loan from Karnataka Bank in a flexible period of 5 years.How much car loan I can borrow from Karnataka Bank?
Karnataka Bank offers you 85.00% of car as loan.How much processing fee is charged by Karnataka Bank on car loan?
Karnataka Bank charges a processing fee of of % of loan amount Min. Rs. number_format(250) and Max. Rs. number_format(1000) with applicable service tax.Is age an eligibility factor to get car loan from Karnataka Bank?
Yes, age is an important eligibility factor to get Karnataka Bank car loan as you should be at least 0 years old at loan approval time and 0 years old at loan maturity time.Are there any prepayment charges on Karnataka Bank car loan?
You can take car loan from Karnataka Bank with Nil prepayment charges.Can I add my spouse's income while applying for car loan from Karnataka Bank?
You can combine your income with the income of your spouse to increase your loan eligibility and to get higher loan amount.