If you really think about it, it's easier getting a loan for a car than a loan for bus fare!
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  • Karnataka Bank Car Loan Eligibility Calculator is Rated as "Blown Away!" by 8 Users

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    Karnataka Bank Car Loan Eligibility Calculator

    Karnataka Bank Car Loan Overview

    If you are looking for an affordable auto financing option, the KBL Car Finance scheme would be the suitable choice for you. This loan product from Karnataka Bank is a one-of-a-kind car financing deal which comes with attractive interest rates, higher loan amounts and flexible loan tenures. KBL car loans can be procured for the purchase of new and used cars aged not more than three years. Karnataka Bank also requires borrowers to furnish security for the new vehicle along with third party co-obligation or guarantee.

    Karnataka Bank Car Loan Eligibility

    • Any applicant who is an income tax assessee is eligible to procure a Karnataka Bank car loan.
    • Companies, trusts, firms, societies and associations also qualify for a KBL car loan. Any company availing this loan has to make the application in the name of its managing director, executive, managing trustee, managing partner or secretary.
    • Non-resident Indians (NRIs) can also easily apply for a Karnataka Bank car loan.
    Apply for Car Loan Online

    Factors affecting Karnataka Bank Car Loan Eligibility

    A bank considers an applicant’s eligibility based on multiple factors. Some of the key factors affecting your Karnataka Bank eligibility are -

    Income - Applicants are required to have a steady source of income and also above a certain limit to qualify for a car loan. Karnataka Bank requires that applicants should fall under the income tax bracket to even qualify.

    CIBIL Score - Another important aspect that banks consider while approving car loans is an individual’s credit score. Applicants with higher credit score, regular repayment patterns and lesser liabilities tend to get car loans easily approved by Karnataka Bank. Individuals with erratic payment patterns might face difficulties to get a car loan sanctioned and in most cases might get rejected.

    Type of profession - Banks also look into the type of profession that the applicant is involved in. The lender needs to ascertain that the borrower has the repayment capability along with a steady source of income. Customers who are in professions which might not have recurrent income might not be considered to be eligible to avail a Karnataka Bank car loan.

    How do you increase your eligibility for a Karnataka Bank Car Loan?

    • Having a co-applicant as part of your application is always a wise idea to improve your eligibility criteria for a Karnataka Bank car loan. The income of a spouse or any other family member can be included along with the applicant’s income to increase the eligibility.
    • When you make an application for a car loan, ensure that all your other debts have been paid off. Banks easily approve car loans for individuals with lesser liabilities and with adequate savings.
    • If you are unable to close a pending loan while applying for a car loan, you can use another alternative of extending the tenure for your existing loan. Lower the EMI amount for your existing loan and increase the tenure, so that you will have some money in hand when you apply for a car loan. Showing some amount of available funds will definitely improve your car loan eligibility.

    Karnataka Bank Car Loan Eligibility Calculators

    If you are planning to buy a new car with a loan, always ensure that you qualify for the loan with regards to your income and other related criteria. Cross-checking your eligibility always help you when you file an application for the car loan. Eligibility for a Karnataka Bank car loan can be easily got by using excellent tools called car loan eligibility calculators, easily available on the net. Car loan eligibility calculators require only a few inputs like name, age, income, profession, interest rates, loan amount, on-road price and model of the new car. With all these details, these calculators will be able to accurately tell you whether you are eligible to procure a Karnataka Bank car loan or not.

    Car Loan Reviews

    • Karnataka Bank Car Loan
      "Postivness overloaded"
      0.5 5.0/5 "Blown Away!"
      I have been having a long standing relationship with this bank, owing which I asked them for a Rs.6 Lakh worth a car loan. To my surprise the loan got approved immediately and the cash reached the account by next day. Which is something extraordinary. I have been given interest rate of 9% which is pretty decent too.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Oct 13, 2017
    • Karnataka Bank Car Loan
      "Very good service"
      0.5 5.0/5 "Blown Away!"
      I directly met the Karnataka bank branch manager and spoke about the car loan. They have disbursed my car loan within 8 days of time. The required loan amount has been approved by Karnataka bank. The rate of interest of interest is nominal with Karnataka.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jul 06, 2017
    • Karnataka Bank Car Loan
      "Excellent services"
      0.5 4.5/5 "Excellent!"
      Karnataka bank is very much beneficial also they have offered me a car loan with a good deal. The interest rate and charges was nominal and they were quick in the process also. The after loan features are also good and I had no hassles with the bank in this process.
      Was this review helpful? 0
      , bangalore
      Reviewed on Jun 17, 2017
    • Karnataka Bank Car Loan
      0.5 5.0/5 "Blown Away!"
      I have an OD account with Karnataka bank through which I had recently taken a car loan. The documentation process very fast and my loan was disbursed within 3 days of time. They offered me an interest rate of 10.25% and they didn't charge me any processing at all. It was overall a fantastic experience.
      Was this review helpful? 3
      , chennai
      Reviewed on Oct 21, 2014
    • Karnataka Bank Car Loan
      "Normal banking service"
      0.5 5.0/5 "Blown Away!"
      My friend was working with KARNATAKA BANK that is the only reason I have took this CAR LOAN with them. He is working as the branch maanger . Interest rates also floating same as other bank. I could not feel any particular feature with this bank. What other bank providing the same service provided by them also . No suggestions
      Was this review helpful? 1
      , bellary
      Reviewed on Aug 21, 2014
    • Karnataka Bank Car Loan
      "Good service!"
      0.5 5.0/5 "Blown Away!"
      I have recently availed a car loan from Karnataka Bank. I personally approached the bank for applying the loan. I am very much satisfied with their services and the rate of interest was very good comparatively to other private banks in the market.
      Was this review helpful? 1
      , belgaum
      Reviewed on May 27, 2014
    • Karnataka Bank Car Loan
      "Satisfied with Service"
      0.5 5.0/5 "Blown Away!"
      Karnataka bank CL overall satisfied with service approval process took in just 2 days interest rate was also good customer service and response from them was perfect no suggestion and disadvantages overall it was perfect I am satisfied with services.
      Was this review helpful? 11
      , bangalore
      Reviewed on May 17, 2014
    • Karnataka Bank Car Loan
      "fantastic job"
      0.5 4.0/5 "Great!"
      Karnataka bank gives a very ggod customer service swith regards to Car Loan.There is no processing charges. No hidden charges.The bank will not charge if we pre-close the loan. They are very transparent in what ever they say. However if there were more branches of Karnataka Bank then it would had been much better.
      Was this review helpful? 6
      , chandigarh
      Reviewed on May 02, 2014
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