Karnataka Bank Personal Loan of Rs. 50,000

Browsing through various bank websites can be taxing. Especially if you need an instant short-term fund to finance your new gadget or any emergency. Look no further and avail of a Karnataka Bank personal loan of Rs 50,000! With longer repayment tenures and flexible EMI options, this scheme is hassle-free and can be availed digitally! Skip the queues and instantly avail yourself of a Karnataka Bank personal loan from the comfort of your home! Learn more about the personal loan eligibility and applicable EMI on your Rs 50,000 Karnataka Bank personal loan.

Karnataka Bank Rs 50,000 Personal Loan Eligibility

To qualify for a Rs 50,000 Karnataka Bank personal loan, you need to meet these requirements:

• Residency: Must be an Indian resident
• Age: Between 18 and 60 years
• Employment: Salaried employee with a minimum net monthly salary of ₹20,000 for the past 7 months
• Loan Status: There should not be any existing unsecured personal loan from Karnataka Bank

Karnataka Bank Rs 50,000 Personal Loan Documents Required

To apply for the Karnataka Bank Rs 50,000 personal loan, you need to provide:

Identity Proof:

• Aadhaar card
• PAN card

Financial Proof:

• Internet banking login credentials for your salary account or
• Bank statements for the last 7 months (original ePDF or scanned PDF file)

Address Proof:

• Soft copies of both current and permanent address proofs

Photograph:

• A passport-size photograph

Karnataka Bank Interest Rates & Fees For Rs. 50,000 Personal Loan

The applicable interest rates and fees incurred on your Karnataka Bank Rs 50,000 personal loan are as follows:

Interest Rate

• Starting at: 12.00% per annum

Processing Fee

• For Loan Amount up to ₹1 Lakh: ₹2500
• For Loan Amounts above ₹2 Lakhs: 2% of the loan amount
• Minimum Fee: ₹2500
• Maximum Fee: ₹8500

Prepayment Charges

• None

Repayment Options for Karnataka Bank Rs 50,000 Loan

Karnataka Bank offers flexible and convenient repayment methods for your loan through EMIs:

• You can set up a standing instruction wherein the deductions are automated from your bank account.
• There is the option to make online payments using internet banking services.
• Utilise the Electronic Clearing Service to automate payments for a seamless and hassle-free experience.
• Use the bank’s mobile app, if available, for easy and convenient payments.

EMI For Rs 50,000 Karnataka Personal Loan

The table below shows the applicable EMI for different tenures on your Rs 50,000 Karnataka Bank personal loan:

Loan Tenure	EMI Amount	Interest Payable	Total Amount Payable
1 year	₹4,442	₹3,309	₹53,309
2 years	₹2,354	₹6,488	₹56,488
3 years	₹1,661	₹9,786	₹59,786
4 years	₹1,317	₹13,201	₹63,201
5 years	₹1,112	₹16,733	₹66,733

Steps To Apply For Rs 50,000 Karnataka Bank Personal Loan

To apply for the Karnataka Bank Rs 50,000 personal loan, visit the official Urban Money website. Go to the “Loan” section and select “Personal Loan.” This will redirect you to a page showcasing top lenders in India. Locate the “Karnataka Bank” logo and click the “Apply Now” button. Complete the online form by entering your name, mobile number, and city. After completing the form, enter the 6-digit OTP sent to your mobile device and click “Submit.” Once submitted, an Urban Money loan specialist will contact you shortly to assist with the next steps.

Alternative Options For Rs 50,000 Personal Loan

Other alternatives exist if you want to avail of a Karnataka Bank personal loan of Rs 50,000. Some employers offer an advance on your paycheck, which can be useful for covering unexpected expenses. Depending on your circumstances, government programs might be available to provide financial aid, so it’s worth exploring these options. Online lenders, specialised loan companies, and apps often provide faster and more flexible loan options than traditional banks. Consider borrowing from friends or family if you’re comfortable with it; just ensure you discuss and agree on the repayment terms in advance. 

Additionally, if you are a credit union member serving specific groups, such as teachers or government employees, you can benefit from favourable personal loan rates. Exploring these alternatives might help you find the best solution for your financial needs, whether a Karnataka Bank personal loan of Rs 50,000 or another option.