KBL Two Wheeler Loans Interest Rates – EMI Calculator
Find best deals on Karnataka Bank bike loans. Get best interest rates, EMI, Eligibility & documents online information through Deal4loans.
Who is Eligible for Bike loan schemes of Karnataka Bank Ltd?
Individuals
✓ Within the age limit of 21 to 55 years in case of salaried persons and 21 to 60 years in case of businessmen / professionals / self employed persons.
✓ Confirmed employee in the case of salaried person. Businessman should be in business for minimum period of 1 year.
✓ Salaried person must have gross monthly salary of Rs.4,500/- and businessman monthly income of Rs.3,500/- .
✓ Undertaking letter shall be furnished to the effect that the vehicle will be driven by valid license holder only.
✓ A company / firm, availing the loan in its name or in the name of executive / managing director / managing partner.
Interest Rates on Bike Loans: 13.20%
Amount of Loan:
✓ Upto 15 times net take home salary (in the case of salaried person) / declared annual gross income (in the case of professionals / businessmen / self employed person), or 100% of the invoice value of the vehicle whichever is lower. Road tax and insurance to be borne by the borrower.
✓ Maximum amount of loan Rs.1,00,000/-.
Time Period: Upto 60 months.
Repayment: By equal / equated monthly installments.
Security:
✓ Hypothecation of vehicle to be purchased.
✓ Solvent co-obligant / guarantor.
Documents Required
✓ Proof of income (Salary certificate, income tax returns / assessment orders, audited financial statements etc.)
Available Products of Karnataka Bank:
Karnataka Bank Home Loan
Karnataka Bank Personal Loan
Karnataka Bank Car Loan
Karnataka Bank Fixed Deposit
Karnataka Bank Two Wheeler Loan
