Karnataka Bank Car Loan Rate, Eligibility Calculator, Apply Online

Karnataka Bank Car Loan Offer Feb 2017

Last Updated 22nd Feb 2017
Features and Eligibility Karnataka Bank New Car Loan Scheme Karnataka Bank Used Car Loan Scheme
Interest Rates 10.25% Floating Check Special Offer 14.45% Floating
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
Prepayment Charges Nil Nil
Interest Calculation Monthly reducing balance Monthly reducing balance
Age (years) Between 0 years and 0 years Between 0 years and 0 years
Apply Car Loan Online @9.25%*
 Salaried   Self Employed - Professional   Self Employed - Business 

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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)
--Salaried 1.5 1.5
--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.

  • New Car Loan Schemes of All Banks

  • Used Car Loan Schemes of All Banks

Frequently Asked Questions on Karnataka Bank Car Loan

How much interest is charged by Karnataka Bank on car loan?

Karnataka Bank offers an interest of 10.25% on car loan.

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 maximum 7 years.

How much car loan I can borrow from Karnataka Bank?

Karnataka Bank offers you 85.00% of of car as loan.

How much processing fee is charged by Karnataka Bank on car loan?

Karnataka Bank charge a processing fee of 0.25% 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.
Karnataka Bank Car Loan Calculator News - Feb 2017
17th Sep 16 Karnataka Bank launches retail loan portal
Karnataka Bank has launched an online retail loan web portal named KBL-Loan Junction. This will facilitate the customers to check their retail loan eligibility and submit their loan application online. The bank also offers credit proposal tracking system as part of the initiative.
06th Aug 16 Karnataka Bank launched a mobile app for POS merchants
Karnataka Bank launched KBL POS Manager mobile app to its POS merchants to enable ease and convenience to the merchants KBL POS Manager is an Android based mobile application launched to manage the activities around the POS installation like monitoring daily reports, to know latest settlement report value, to request statements from the app etc. With this initiative, merchants can manage their store sales through smart phone. Bank has taken this initiative to improve client satisfaction and support merchants to do more transactions.
28th Jul 16 Karnataka Bank Q1FY17 Net Profit increases by 11%
As per the results for Q1FY17, Karnataka Bank Ltd. has reported a 11.2 percent increase in Net Profit to Rs 121.5 crore, from Rs 109.3 crore in the same quarter last year. Net Interest Income(NII) increased by 10.1 percent to Rs 364.7 crore and other income increased by 46 percent to Rs 174.4 crore in the June quarter . The asset quality showed signs of weakening as Gross NPAs as a percentage of total advances, increased to 3.92 percent from 3.44 percent and Net NPA also increased to 2.61 percent from 2.35 percent in March quarter. The provision against bad debt also increased by 21.2 to Rs 136.3 crore from Rs 112.5 when compared on qoq basis.
22nd Jan 16 Karnataka Bank standalone net profit declines 9 per cent for third quarter ending Dec 2015
Karnataka bank net profit declined by 9.37% due to a decrease in spread and an increase in Net Interest Income (NII)
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