Factors affecting the Karnataka Bank Salaried Persons Personal Loan eligibility
The income of the Karnataka Bank Personal loan applicant is a major factor in determining his or her eligibility as those with higher incomes are naturally assumed to have a higher capacity of repayment. Therefore, higher earning individuals have a better chance at having their loan applications sanctioned.
Employment history – Loan applicants with a history of stable employment are viewed more favorably than those who switch and change jobs often.
If the Karnataka Bank Personal loan applicant has an existing relationship with Karnataka Bank that is healthy in nature, then his or her eligibility status is enhanced.
Karnataka Bank conducts a check on the loan applicants’ CIBIL score prior to accepting or rejecting the application.
Young loan applicants who change their jobs frequently are viewed as unstable and experimental with their jobs, so they may have some difficulty having their loan application approved. At the other extreme, loan applicants who are very close to retirement may also have some amount of trouble getting their Karnataka Bank Personal loan sanctioned by the bank as it is assumed that their capacity to repay Karnataka Bank Personal loan will diminish post retirement.
If the loan applicant has a load of any existing debt, the bank will take that into consideration before approving the loan application.
Those loan applications under the permanent regular employ of a reputed company are viewed favorably by the bank.
Signed application form with photograph
Copy of passport/voter ID card/driving license
Processing fee cheque
Last 3 months bank statement/6 months bank passbook
Documentation for salaried applicants:
Documentation for self-employed applicants:
Home Extension Loan is useful when you want to add more space to your existing home. We make it easy for you to extend your existing residential property as per your requirements. You often renovate your home to suit your changing needs. This loan can be used to carry out repairs / improvements within your existing owned residential properties.
Personal loans are taken primarily for fulfilling your personal aspirations such as vacation, a perfect wedding, home renovation or a much desired gadget. In addition to being relatively easy to apply for, personal loans are unsecured loans which means that you don't need any collateral to take this loan. They are one of the simplest form of loans with customer-friendly repayment terms.
A sudden requirement of funds is an unavoidable circumstance of business or personal life. Whether a personal necessity (hospitalization, child's marriage) or a professional one (expanding business operations on a priority basis), every person requires immediate financial backing at key moments.
In this context, it is pertinent to consider an invaluable alternative source of finance known as Loan Against Property (LAP). This is a loan borrowed by placing one's owned property as collateral. The funding may be given by financial institutions after scrutinizing the validity of the said property and its current market value.
Running a business is not easy. You have to constantly think of ways and means to keep it going and growing. As a part of the growth plan, you require financing for expanding operations or to buy new equipment or inventory or simply increase the working capital. To help you with your financing needs we offer Business Loans that will help your business grow.
LaonMoney is an Authorized Direct Selling Agents of various National, Multinational and Non Banking Financial Companies for promoting their sales for asset division. Feel free to contact us at email@example.com or +91-8130 222 111 for Transparent and Fastest Processing of Loan.
# Secured and unsecured Fundings
# Over 21 bank and other financial institutions.
# CORPORATE Direct Associates of All MNC, Pvt Banks, NBFC.
# Personal Loans, Loan Against Property, Home Loans, Business Loans
# Team of expert CA , Ex Bankers, Field Support
LoanMoney deals in ..
# Home loans - Residential/ Commercial/ Industrial - Purchase /Reconstruction / Plots
# Loan Against Property - Residential / Commercial / Industrial
# Business Loans - Unsecured Overdraft / Term Loan / Against Credit Card Swipe
# Personal Loan - Against Salary /Professional Receipts Doctor/ CA/Engg
# Working Capital for SME - Overdraft/ Cash Credit / Term Loan /Export Funding/ Non Funded
# Machinery / Equipment Loans - Medical/ Construction/ Vehicles
# Educational/ Hospital Institutions Loans to Trust/ Society