Karnataka Bank Limited Personal Loan - Eligibility & Documentation


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:

  • Latest salary slip
  • Current dated salary certificate with the latest Form 16

Documentation for self-employed applicants:

  • Latest Bank statement
Latest ITR or Form 16

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