| Karnataka Bank Business Quick Loan – Highlights – 2022 | |
| Purpose | For business improvement activities, including the advertisement, office furnishing, repair to equipment and fixed assets, etc. |
| Interest Rate | 9.75% p.a. onwards |
| Loan Amount | Rs. 10 lakh – Rs. 50 lakh |
| Repayment Tenure |
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| Security | · Mortgage of immovable properties shall be 100% of exposure
· Bank owns Deposits, NSCs, Life Insurance policies of IRDA authorized company with surrender value |
Note: Additional interest concession is offered for women entrepreneurs, MSMEs having Zero Defect Zero Effect (ZED) Certification and also for security coverage above 125%.
Appy for Business Loan starting @ 16% p.a. Apply Now
Eligibility Criteria
- Applicant should be legal entity, compatible to MSME classification guidelines
- Age: Maximum should be within 70 years of the loan tenure
- Credit Score: 675 and above
- CRIF Score: 700 and above for Non-individuals
- Enterprise should be in profit for the last 2 financial years
- Enterprise should be filing GST returns for the last 2 financial years
- Applicants with NPA/closed under OTS will not be considered
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Fees & Charges
- Processing Fee: 0.50% of the sanctioned loan amount
- Bank generally charges upfront fees and processing charges
- Upfront fees are for background information, legal and valuation charges