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Karnataka Bank Two wheeler Loan Interest Rate

Last Updated 06th Nov 2019

Karnataka Bank Two wheeler Loan Interest Rates India Dec 2019

Interest Rates 13.85%
Maximum Loan Amount Eligibility 85% of On Road Price
Maximum Loan Tenure 5 years
Lowest EMI per Rs. Ten Thousand Loan Amount ₹ 232
Processing Fee 0.25% of Loan Amount with Minimum Rs. 250 and Maximum Rs. 1000
Prepayment Charges Nil charges
Interest Calculation EMI on a monthly reducing balance
Age Between 18 years and 60 years
Apply for Two Wheeler Loan @ 10.00%*
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Karnataka Bank Two wheeler Loan

Karnataka Bank Auto Loan Interest Rates

Karnataka Bank bike loan Interest rate calculator works on various inputs like:

  • Salary - Higher salary bracket individuals are offered loans at lower interest rates. Karnataka Bank auto loan rate varies with your net monthly income.
  • Employer category – Employer category of the borrower is a major deciding factor in order to determine his/her rate of interest. Karnataka Bank has a list of company categories of salaried individuals to which they avail two wheeler loans. So, higher company category leads to low rate of interest.
  • Type of two wheeler - Karnataka Bank interest rate depends upon the type of bike you want to buy. If you have applied loan for a high value two wheeler, then the bank offer low interest rate on your two wheeler.
  • Relationship with the Bank – Karnataka Bank offers special rates, offers and charges to the salary account holders of the bank. Those who have managed their accounts low Karnataka Bank 2 wheeler interest rate.

Karnataka Bank Two wheeler Loan Eligibility

Eligibility of 2 wheeler loan in Karnataka Bank relies upon different factors but the most important factor is your ability to repay the loan. Two wheeler loan calculator calculates eligibility of an applicant depending upon various factors like

  • Age: Age plays an important role to know your eligibility and repayment capacity. Karnataka Bank offers two wheeler loan to individuals who are atleast 18 years old at the time of loan approval and maximum 60 years at the time of loan maturity.
  • Income: Karnataka Bank bike loan calculator calculates your eligibility based upon your income. Usually bank set minimum levels of income to apply for two wheeler loan. Karnataka Bank asks for net monthly income of ₹ 5,000 from salaried professionals.
  • CIBIL Score: Your past CIBIL history and repayment record of existing loans and credit cards has direct impact on your two wheeler loan eligibility. If you have a poor repayment record, then you may not get the loan but on the other side, a regular repayment record increases your two wheeler loan eligibility.

Karnataka Bank Two wheeler Loan EMI

Two wheeler Loan EMI of Karnataka Bank is a fixed amount that you pay each month towards the repayment of your bike loan till the end of tenure. Lowest EMI offered by Karnataka Bank is Rs. 232 per ten thousand loan amount at lowest two wheeler loan interest rate of 13.85%. Karnataka Bank bike loan EMI calculator depends on factors like:

  • Auto Loan Karnataka Bank interest is an important factor which affects your EMI. Higher the interest rate, higher will be the EMI
  • Loan tenure matters equally as longer tenure reduces your monthly EMI per lakh
  • Your EMI depends upon the amount of loan you are going to borrow. Loan EMI will be high if you apply for a high loan amount
  • Two wheeler loan EMI calculation varies from bank to bank depending upon the method of calculation

Karnataka Bank 2 Wheeler Loan Apply

Karnataka Bank gives the facility of bike loan to the people who want to fulfil their dream of having their own 2 wheeler. There are some features and benefits of taking auto loan from Karnataka Bank:

  • Zero prepayment charges
  • Get loan upto 85% of on-road price
  • Hassle free processing

Documents Required for Karnataka Bank 2 wheeler Loan

Two wheeler loan Karnataka Bank documents for salaried employees

  • Signed loan application form
  • Photographs
  • Income Tax PAN Copy
  • Identity Proof – Driving License/ PAN/ Passport/ Voter ID
  • Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Form 16, last 3 months pay slip, bank statement of 3 months showing salary credit and any EMI debit

Two wheeler loan Karnataka Bank documents for Self-Employed

  • Signed loan application form
  • Photographs
  • Income Tax PAN Copy
  • Identity Proof - Driving License/ PAN/ Passport/ Voter ID
  • Address Proof - Registered Rent Agreement/ Passport/ Leave and License/ Utility Bill
  • Income Documents – Last 2 years ITR
  • Business existence proof such as VAT/ service tax registration, business address proof, incorporation details in case of companies

Compare Bike Loan Interest Rates of Karnataka Bank with other banks

Frequently Asked Questions on Karnataka Bank Two wheeler Loan

How much interest is charged by Karnataka Bank on two wheeler loan?

Karnataka Bank bike loan interest rates today are 13.85% to 13.85%.

What is the lowest EMI for ten thousand amount on Karnataka Bank two wheeler loan?

If you apply for a 2 wheeler loan from Karnataka Bank, your lowest EMI for ten thousand amount will be ₹ 232.

What is the maximum tenure of Karnataka Bank bike loan?

You can repay your bike loan from Karnataka Bank in a flexible period of maximum 5 years.

How much auto loan I can borrow from Karnataka Bank?

Karnataka Bank offers you 85% of On Road Price of two wheeler as loan.

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

Karnataka Bank charge a processing fee of 0.25% of Loan Amount with Minimum Rs. 250 and Maximum Rs. 1000 with applicable service tax.

Is age an eligibility factor to get two wheeler loan from Karnataka Bank ?

Yes, age is an important eligibility factor to get Karnataka Bank two wheeler loan as you should be at least 18 years old at loan approval time and 60 years old at loan maturity time.

Are there any prepayment charges on Karnataka Bank two wheeler loan?

You can foreclose your two wheeler loan from Karnataka Bank with Nil charges.

*Terms and conditions apply. Credit at sole discretion of lender subject to credit appraisal, eligibility check, rates, charges and terms. Information displayed is indicative and from collected from public sources. Read More