Karnataka Vikas Grameena Bank Personal Loan @ 9.99% | Eligibility, Process, Documents Needed, Features and Advantages

May 11, 2023 / Loan / By

Karnataka Vikas Grameena Bank Personal Loan: Are you looking for a loan to support your expenses? Well, this article has the solution to your worries. The Karnataka Gramin bank Loan has been designed to suit your financial needs.

Are you looking forward to studying abroad but can’t afford the payment? Karnataka Gramin bank education Loan is going to assist you and help you fulfil your dreams. Looking forward to getting married? The personal loan in Pragathi Gramin bank will help you pull through all your experiences. Keep reading to know more about personal loans at Karnataka Vikas Grameena Bank.

Want to compare Karnataka Vikas Grameena Bank Personal Loan with other bank personal loans for lowest interest rates and extra offerings? Just keep an eye on our Complete Guide on Personal Loan & choose the suitable bank to apply for the loan.

Karnataka Vikas Grameena Bank

Features and Advantages of Karnataka Vikas Grameena Bank Personal Loan

  • Maximum loan amount
  • Multiple loan repayment options
  • Fast & easy processing of personal loan application
  • Quick loan approval
  • The bank does not insist upon a guarantor.
  • Competitive and attractive interest rates.
  • Offers special discounts and schemes for employees of established companies
  • Usually, no security is needed for availing of a personal loan.

How can I do for a Personal Loan at the Karnataka Vikas Grameena Bank?

  1. Apply Online: One can apply for a personal loan online via the official website of Bank and fill up their personal information and employment information & upload required documents. One can use it after checking their loan eligibility.
  2. Apply Offline: One can personally visit any of the Bank branches along with all the needed documents, fill up the form correctly, and get their loan sanction procedure started.

Eligibility for Karnataka Vikas Grameena Bank Personal Loan

  • Age limit – 21 to 58 years.
  • Permanent employees of Corporations, Private Sector Companies, State/Central Govt., Public Sector Undertakings, and reputed establishments.
  • Salaried individuals or Self – Employed having a regular income.
  • Number of years in the current job or business or profession for up to 3 years

Documents needed for Karnataka Vikas Grameena Bank Personal Loan

  • Age limit from 21 to 58 years.
  • The individual must be a permanent employee of any Public Sector Undertakings, State/Central Govt., Private Sector Companies, Corporations, and reputed establishments.
  • The individual must be Salaried or Self – Employed having a regular income.
  • Number of years at the current job or business or profession: up to 3 years
  • Properly filled up and signed personal loan application form.
  • Passport-sized photographs.
  • Identity Proof – Passport, Driving license, Voter ID card, PAN card, Government department ID card, Aadhar Card.
  • Income proof – Latest salary slip showcasing all deductions or Form 16 attached with the current salary certificates applicable for salaried individuals.
  • Income proof – Income Tax Returns of the previous two financial years – applicable for other than salaried individuals.
  • Address proof – Bank account statement, Latest mobile/telephone bill, Latest electricity bill, Existing house lease agreement, Latest credit card statement
  • Bank Pass Book or bank statement of having entries of the last six months.

Repayment for Karnataka Vikas Grameena Bank Personal Loan

Maximum 60 EMIs are allowed for repayment of personal loans. It starts from 12 EMIs. The repayment period also depends upon your credit score.

Karnataka Vikas Grameena Bank Repayment as Equated Monthly Instalments (EMI)

Any one of the stated ways can be used for repaying the loan:

  • Standing instruction registration at one’s bank.
  • Via Internet Banking solution.
  • Automated Payment via ECS (Electronic Clearing Service)
  • Through Mobile Banking App, if provided by the bank.

Processing time for Karnataka Vikas Grameena Bank Personal Loan

The Karnataka Vikas Grameena Bank will take 15 days for the Sanctioning of Personal Loan Applications. Then, Karnataka Vikas Grameena Bank approves the loan in a few hours to 1 to 3 days at most.

Pre-closure or Pre-Payment Charges Karnataka Vikas Grameena Bank Personal Loan

  • When one pre-close a loan prior to 18 EMIs, they are offered a 5% foreclosure fee on their closure date.
  • When one prepays their loan prior to 18 EMIs, they are offered a 3% fee on their closure date.

Overdraft Facility for Karnataka Vikas Grameena Bank Personal Loan

A person overdraft is a credit office that licenses them to pull out an all-out as and when needed. One can, in like manner, reimburse the got out totally whenever the condition is ideal. It is likely the most favoured credit choices that benefitted from meeting changing individual supporting necessities unbounded from this time forward. Apply for the overdraft as a personal loan from Karnataka Vikas Grameena Bank.

Different Offers provided for Karnataka Vikas Grameena Bank Personal Loan

  • Karnataka Vikas Grameena Bank has a wide variety of Personal Loans.
  • Karnataka Vikas Grameena Bank provides Home Furnishing, Education, Medical, Marriage, as well as Holiday loans.
  • The above loans are for self-employed and salaried individuals.

Personal Loan for Salaried Employees

  • The Karnataka Vikas Grameena Bank offers attractive interest rates.
  • One can get a loan amount depending on the Company that they are currently working in.
  • One can get a loan in accordance with their salary and their residence.
  • Karnataka Vikas Grameena Bank provides a tenure of 12 to 60 months of 1 year to 5 years.

Personal Loan for Self Employed Individuals

  • This bank also offers to self-employed people who require funds.
  • Karnataka Vikas Grameena Bank offers an attractive interest rate.
  • Offers a tenure of almost 12-60 months.
  • More documents are needed than a salaried employee.
  • Get a maximum loan of amount Rs. 20 lakhs.

Education Loan

  • The Bank provides loan amounts ranging from Rs. 50,000 up to Rs. 10,00,000 for students studying in India.
  • Karnataka Vikas Grameena Bank offers loan amounts up to Rs. 20,00,000 for students studying abroad.
  • The Lowest Interest Rates are provided for top ranking institutions.
  • Minimum Net Income must be Rs. 1 lakh per annum for the sanction of loan.

Marriage Loan

Marriage Loan from Karnataka Vikas Grameena Bank has the eligibility criteria as follows:

  • PAN Card is compulsory.
  • Salary Credit Bank Statements from the past 6 months.
  • Any one of the ID Proofs: Driving License, Voter ID, Passport.
  • Any one of the Residence Proof: Bank Statement, Driving License, Electricity Bill, Passport.
  • The Income Documents of Salaried Spouse is needed.

Personal Loan for Government Employees

  • Government Employees are offered personal loans at a very low-interest rate.
  • There is a special offer for choosing the tenure for a loan.
  • No processing fee is needed.
  • Apply online or by visiting the nearest RBL Bank Loan Branch.

Personal Loan for Pensioners

Karnataka Vikas Grameena Bank offers unique plans for Pensioners who are looking for Personal loans. They provide good funding at reasonable interest rates to pensioners. Some of the characteristics of the Karnataka Vikas Grameena Bank, Personal Loan for Pensioners, have been listed below –

  • The minimum Pension Amount will be Rs. 25000+.
  • Maximum age for application of loan 65 years (during loan maturity).
  • 50% of extra income could be counted as Actual Income.
  • The interest Rate is 9.99%
  • Tenure for a minimum of 12 months

Leave a Comment

Your email address will not be published. Required fields are marked *