Karnataka Bank Personal Loan of Rs. 4 Lakh

Karnataka Bank’s personal loan of 4 lakh caters to various financial needs, including education, weddings, medical emergencies, and other personal expenses. These loans come with competitive interest rates starting at 12% annually, flexible repayment options, and minimal documentation requirements, making them an accessible and convenient solution for customers seeking financial support.

Eligibility for 4 Lakh Karnataka Bank Personal Loan

Following are the eligibility criteria for 4 lakh Karnataka Bank Personal Loan:

• Indian Resident: Must be an Indian citizen.
• Age: Between 18 and 60 years.
• Employment: Salaried employees with a minimum net monthly salary of ₹20,000 for at least the last 7 months.
• Loan Status: No existing unsecured personal loan from Karnataka Bank.
• Location: Residing in one of the following states: Andhra Pradesh, Assam, Bihar, Chhattisgarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, West Bengal.

Documents Required for 4 Lakh Karnataka Bank Personal Loan

Applicants need to provide the following documents:

• Identity Proof: Aadhaar card, PAN card.
• Salary Proof: Last seven months’ bank statement (original ePDF or scanned PDF).
• Address Proof: Soft copy of current and permanent address proof.
• Photograph: Soft copy of a passport-size photograph of the applicant.

Karnataka Bank Personal Loan of 4 Lakh Interest Rates and Fees

Repayment Options for Karnataka Bank 4 Lakh Personal Loan

Karnataka Bank provides flexible repayment options for diverse financial requirements. Key features for a ₹5 lakh personal loan include:

• Flexible Tenures and EMIs: You can choose a loan tenure of up to 60 months, with monthly EMIs calculated based on the loan amount and interest rate. Longer tenures mean lower EMIs.

• Convenient Payment Methods: Set up auto-debit from your Karnataka Bank savings account for seamless EMI payments, and manage your loan online through the bank’s internet banking portal.

What is the EMI for a 4 Lakh Personal Loan From Karnataka Bank?

Here is the EMI calculation table for a ₹4 lakh loan at an interest rate starting at 12% per annum for different tenures:

For example, if you take a ₹4 lakh loan for a tenure of 60 months, your monthly EMI would be ₹4003.10. The EMI amount decreases as the loan tenure increases, spreading the repayment over a longer period. ​

Applying for the Karnataka Bank 4 Lakh Loan

Follow these steps to apply for the Karnataka Bank 4 Lakh Loan:

• Visit Urban Money Website: Open your web browser and go to the Urban Money website.
• Navigate to Personal Loans: Find and click on the homepage’s ‘Personal Loans’ section.
• Select Karnataka Bank Personal Loan: From the list of available personal loans, select ‘Karnataka Bank Personal Loan.’
• Fill in Your Details: Enter your details, including your name, address, employment details, and other required information.
• Provide Your Phone Number: Enter the contact number where the assistance can reach you.
• Submit the Form: After completing the necessary details, submit the application form.
• Wait for a Callback: After submitting your details, you will receive a call from an Urban Money representative who will guide you through the next steps of the loan application process.

Following these steps, you can easily apply for a ₹4 lakh personal loan from Karnataka Bank through the Urban Money website.

Alternatives Option to Consider for 4 Lakh Personal Loan

When considering a ₹4 lakh personal loan, exploring various options is beneficial to ensure you get the best terms and conditions that suit your needs. Here are some alternative banks and financial institutions that offer competitive personal loans: