Karnataka Bank Car Loan Key Features – Apr 29 2025
| Karnataka Bank Car Loan Interest Rate | 7.35% per annum |
| Min Loan Amount | ₹ 100,000 |
| Max Loan Amount (Loan to Value) |
Loan up to 85% of On Road Price |
| Loan Tenure | 1 year to 7 years |
| Lowest EMI / Lac | ₹ 2,137 |
| Minimum Net Monthly Income | ₹ 15,000 |
| Minimum ITR for Self Employed | ₹ 300,000 |
| Age Criteria | Salaried: 18 years to 60 years Self Employed: 18 years to 65 years |
| Types of Cars | For All New Passenger Cars, Multi Utility Vehicles (MUVs) and Sport Utility Vehicle (SUVs). |
| Processing Fee | Up to 0.40% of the loan amount |
| Foreclosure Charges | 2% of the outstanding principal |
| Basic Documentation | ID Proof, Address Proof, Salary Slip, Bank Statement and Car Quotation |
About Karnataka Bank Car Loan
Karnataka Bank is a private sector bank. It has been designated as an A1+ class scheduled commercial bank. Karnataka Bank was founded in 1924. Karnataka Bank Car Loan deals with major financial products like loans, credit cards, saving schemes, investments and many more.
Karnataka Bank provides a reasonable car loan interest rate to the consumer for purchasing their dream car whether new or second hand. It is an easily accessible loan that can be procured who have a good credit/CIBIL score for a car loan from Karnataka Bank.
Advantages of Karnataka Bank Car Loan
Karnataka Bank Car Loan Eligibility
| Salaried Individual |
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| Self-Employed Individuals |
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| Self-Employed Non-Individuals (Company/Partnership) |
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| Priority Customers |
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Karnataka Bank Car Loan Interest Rate, Fees and Charges
| Charges | New Car Loan | Used Car Loan |
| Interest Rate | 7.35% per annum |
13.50% p.a. |
| Processing fee | Up to 0.40% of the loan amount | Up to 0.40% of the loan amount |
| Issuance of Duplicate Repayment Schedule Charges | Rs.500 per instance | Rs.500 per instance |
| Foreclosure Charges | 2% of the principal outstanding | 2% of the principal outstanding |
| Penal Interest | 2% per month | 2% per month |
| Part Payment charges | 5% of the paid amount | 5% of the paid amount |
| Cheque/Instrument Swap Charge | Rs.500 per instance | Rs.500 per instance |
| Documentation Charge | Rs.500 per instance | Rs.500 per instance |
| Issuance of Duplicate No Dues Certificate Charges | Rs.250 per instance | Rs.250 per instance |
| Registration Certification Collection Charge | Rs.200 per instance | Rs.200 per instance |
| Cheque Bounce/Instrument Return Charges | Rs.500 per instance | Rs.500 per instance |
| Issuance of Duplicate Statement Charges | Rs.500 per instance | Rs.500 per instance |
| Loan Cancellation/Re-booking Charges | Rs.2,500 per instance | Rs.2,500 per instance |
| Issuance of Credit Report | Rs.50 per instance | Rs.50 per instance |
Karnataka Bank Car Loan Documents Required
Salaried Individual
| Category | Documents Required |
| Identity Proof
(Any 1) |
Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof
(Any 1) |
Driving Licence Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof
(Any 1) |
Birth Certificate Passport Driving Licence PAN |
| Signature Proof
(Any 1) |
Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last 3 months |
| Employment Continuity Proof | Work Experience Certificate ITR of Form 16 Salary Slip with Joining Date Appointment Letter Letter of Relieving |
Self-Employed Individuals
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Date of Birth Proof (Any 1) | Birth Certificate Passport Driving Licence PAN |
| Signature Proof (Any 1) | Passport Bankers Verification PAN |
| Income Proof | Latest Form 16 and Salary Slips |
| Bank Statement | Bank statement of last 3 months |
| Employment Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Business Proof | Current Account Statement Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
Self-Employed Non-Individuals:
1. Partnership Firms/Societies
| Category | Documents Required |
| Identity Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Address Proof (Any 1) | Driving Licence Aadhaar Card Passport PAN Voter ID |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Bank statement of last 3 months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents | Authority Letter/PAN cards |
2. Private Limited/Limited Companies
| Category | Documents Required |
| Identity Proof | Copy of Latest MOA Copy of Incorporation Copy of Latest AOA |
| Address Proof (Any 1) |
Current Account Statement
Telephone Bill Electricity Bill Shop & Establishment Act Certificate SSI or MSME Registration Certificate Sales Tax or VAT Certificate Registered Lease Document with other utility bills |
| Income Proof | Audited Balance Sheet P&L Account and ITR for the previous 2 years |
| Bank Statement | Bank statement of last 3 months |
| Business Continuity Proof | Shop & Establishment Act Certificate Current Account Statement SSI or MSME Registration Certificate Sales Tax or VAT Certificate |
| Additional documents |
List of Directors and Shareholding Partners
PAN Card Board Resolution Certificate of Commencement of Business for Ltd. Co. |
Karnataka Bank Car Loan EMI Calculator
An applicant has the option to check the EMI’s before getting a Car Loan from Karnataka Bank. So, you can easily check through the link below:
Karnataka Bank Car Loan Types
Karnataka Bank offers different types of car loans to its customers. You have the option of selecting the offer which suits your need the best. Karnataka Bank offers the following types of Car Loans:
- New Car Loan – If you want to buy a new car, this is the scheme for you. You can take Karnataka Bank Car Loan for a minimum of Rs. 1 lakh and a minimum tenure of 7 years.
- Used Car Loan – If you want to buy a used car then you can choose this proposal with Karnataka Bank which offers a minimum loan of Rs. 1 lakh and a minimum tenure of 5 years.
- Loan Against Car – You can opt for this proposal if you require urgent funds where you can keep your cars as collateral with the bank.
Karnataka Bank Car Loan Pre Calculated EMI
| Loan Amount | 2 Years | 3 Years | 5 Years | 7 Years |
| 1 Lakh | ₹ 4,480 | ₹ 3,090 | ₹ 1,982 | ₹ 1,512 |
| 3 Lakh | ₹ 13,439 | ₹ 9,270 | ₹ 5,947 | ₹ 4,535 |
| 5 Lakh | ₹ 22,398 | ₹ 15,450 | ₹ 9,912 | ₹ 7,559 |
| 10 Lakh | ₹ 44,795 | ₹ 30,900 | ₹ 19,825 | ₹ 15,117 |
How to Apply for Karnataka Bank Car Loan?
- Visit Dialabank and fill a form.
- Our Relationship Manager will guide you throughout the process.
- You can compare different offers from banks and opt for the one which suits your needs.
- Thus, you can easily Apply For a Car Loan through Dialabank and enjoy the best offers.
Karnataka Bank Car Loan for Top Selling Cars
Other Available Products from Karnataka Bank
| Karnataka Bank Personal Loan | Karnataka Bank Car Loan | Karnataka Bank Home Loan |
| Karnataka Bank Credit Card | Karnataka Bank Two Wheeler Loan | Karnataka Bank Education Loan |
FAQs for Karnataka Bank Car Loan
✅ What is the Karnataka Bank Car loan?
Car loan refers to the various financial products which allow someone to acquire a car, including car finances and leases.
✅ How can I get a car loan from Karnataka Bank?
You can easily avail of a car loan from Karnataka Bank if you meet the eligibility criteria for a car loan which is: permanent employees of reputed organizations, professionals, self-employed persons, entrepreneurs, and agriculturists. They should have a minimum age of 21 and a maximum age of 65.
✅ How does the Karnataka Bank Car loan work?
The amount that you are qualified for election to receive depends on your income. For most new cars- can sanction up to 25 times the total monthly income or 85% of the price of the car. This includes road tax, insurance, etc. For used cars- can sanction up to 60% of the cost of the vehicle.
✅ How to Check Car Loan status in Karnataka Bank?
You can check your car loan status in Karnataka Bank by visiting the nearest branch or by checking the bank’s website.
✅What is the maximum loan amount that I can avail of on a car loan from Karnataka Bank?
N/A
✅ What is the loan tenure of the Karnataka Bank Car loan?
It offers a loan tenure of 72 months that is 6 years.
✅ Can I get a 100% Car loan from Karnataka Bank?
✅ Can you prepay your Karnataka Bank Car Loan?
You can prepay/foreclose your Karnataka Bank Car Loan at a rate of 2% of the outstanding principal amount.
✅ Does Karnataka Bank Car Loan charge any Processing Fees?
Karnataka Bank charges a processing fee is up to 0.40% of the loan amount.
✅ Can I get a Karnataka Bank Car Loan if I have a low Credit score?
Karnataka Bank requires you to have a credit score of 700 or above for availing of a car loan.
✅ What can you keep as Security with Karnataka Bank to get a Car Loan?
The security required for availing of a car loan from Karnataka Bank is your car.
✅ What is the Karnataka Bank Car Loan closure procedure?
- Just go to the bank with the documents required for a car loan.
- Write a letter for pre-closure of the Karnataka Bank Car Loan account.
- Pay the pre-closure charges as per Karnataka Bank Car Loan.
✅ What are the Karnataka Bank Car Loan preclosure charges?
Karnataka Bank Car Loan preclosure charges are 2% of the outstanding principal.
✅ What is the Karnataka Bank Car Loan maximum tenure?
The Karnataka Bank Car Loan maximum tenure is 7 years.
✅ What is the Karnataka Bank Car Loan minimum tenure?
The Karnataka Bank Car Loan minimum tenure is 1 year.
