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Last updated on: July 2, 2025

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Personal Loan in Karnataka, Interest rates from 10.49%

Explore affordable Personal Loans in Karnataka with interest rates starting from 10.50%. Secure the financial support you need and apply now for quick approval.

Personal Loan in Karnataka

Taking out a personal loan can be a helpful financial tool to manage unexpected expenses, consolidate debt, or fund significant purchases. If you’re residing in Karnataka, this guide provides a detailed overview of personal loans in the state, empowering you to make informed decisions.

Eligibility Criteria for Personal Loans in Karnataka

  • Age: Most lenders require borrowers to be between 21 and 60 years old.
  • Employment: You should be a salaried employee with a minimum work experience (typically 1-2 years) or a self-employed individual with a proven track record.
  • Income: Minimum income requirements vary based on the lender and loan amount. Banks usually have higher income thresholds than NBFCs.
  • Credit Score: A good credit score (typically above 700) indicates your creditworthiness and improves your chances of securing a loan with favorable terms.
  • CIBIL Report: Lenders will check your CIBIL report to assess your credit history and repayment behavior.

Bank Interest rates for Personal Loan in Karnataka

Comparison of Personal Loan Interest Rates of Banks (2025)

BankInterest RateLoan AmountProcessing FeeProcessing TimeApply
DBS BankFrom 10.99%Up to ₹15 Lakhs1-2% of loan amount24-48 hoursApply
HDFCFrom 10.85%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Axis BankFrom 10.49%Up to ₹40 Lakhs1.5% to 2%24-72 hoursApply
ICICI Bank10.75% – 19%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Bank of Baroda10.75% – 18.5%Up to ₹5 Lakhs1%-2%48-72 hoursApply
SBIFrom 11%Up to ₹30 LakhsUp to 1.5%2-3 working daysApply
IndusIndFrom 10.49%Up to ₹50 LakhsUp to 2.5%24-48 hoursApply
Yes BankFrom 10.99%Up to ₹40 LakhsUp to 2.5%24-48 hoursApply
Standard CharteredFrom 11.5%Up to ₹50 LakhsUp to 2.25%48-72 hoursApply
IDFCFrom 10.49%Up to ₹50 LakhsUp to 3%24-48 hoursApply
Kotak MahindraFrom 10.99%Up to ₹40 Lakhs1% to 2.5%1-2 daysApply
PNBFrom 11.40%Up to ₹20 LakhsUp to 1%2-3 daysApply
Bandhan BankFrom 11.55%Up to ₹25 LakhsUp to 2%48-72 hoursApply

Comparison of Personal Loan Interest Rates of NBFCs (2025)

NBFCInterest RateLoan AmountProcessing FeeProcessing TimeApply
Piramal FinanceFrom 12.99%Up to ₹35 Lakhs2%-3%24-72 hoursApply
Shriram FinanceFrom 14%Up to ₹35 LakhsUp to 3%2-3 daysApply
Tata CapitalFrom 10.99%Up to ₹35 LakhsUp to 2.5%24-48 hoursApply
InCredFrom 18%Up to ₹3 Lakhs2% to 4%Instant to 24 hrsApply
FinnableFrom 16%Up to ₹10 LakhsUp to 3%24-48 hoursApply
PaySenseFrom 16.8%Up to ₹5 LakhsUp to 2.5%24-48 hoursApply
PoonawallaFrom 9.99%Up to ₹30 Lakhs1% to 2%24-72 hoursApply
FullertonFrom 11.99%Up to ₹25 LakhsUp to 3%1-2 working daysApply
LendingKartFrom 12%Up to ₹3 Lakhs2% to 3%24-48 hoursApply
Axis FinanceFrom 13%Up to ₹25 LakhsUp to 2.5%1-2 daysApply
Mahindra FinanceFrom 10.99%Up to ₹10 LakhsUp to 3%2-3 daysApply
Aditya BirlaFrom 11.99%Up to ₹50 LakhsUp to 2.5%48-72 hoursApply
Bajaj FinanceFrom 11%Up to ₹50 LakhsUp to 4%24-72 hoursApply

Repayment Terms

Loan terms usually range from 12 to 60 months. Longer tenures translate to lower EMIs (Equated Monthly Installments) but higher overall interest paid. Choose a term that aligns with your budget and repayment capacity.

Interest Rates and Charges for PL in karnataka

  • Interest Rates: Personal loan interest rates in Karnataka typically range from 10% to 24% per annum, depending on your creditworthiness, loan amount, and lender. Fixed and floating rate options are available.
  • Processing Fees: Lenders may charge a processing fee, usually 1-3% of the loan amount, to cover administrative costs.
  • Prepayment Charges: Some lenders levy prepayment charges if you pay off the loan before the term ends.

Types of Personal Loans in Karnataka:

  • Secured Personal Loans: Require collateral like a fixed deposit or property, often offering lower interest rates.
  • Unsecured Personal Loans: Don’t require collateral, but interest rates are generally higher.
  • Top-up Loans: Existing borrowers can access additional funds without fresh applications.
  • Balance Transfer Loans: Help consolidate high-interest debts into a single loan with potentially lower interest.
  • Salary Account Loans: Offered to salaried individuals with their accounts at the lending institution, often featuring pre-approved limits and faster processing.

Important Tips Before Taking a Personal Loan in karnataka

  • Borrow Responsibly: Only borrow what you can comfortably repay. Calculate EMIs (Equated Monthly Installments) beforehand to assess affordability.
  • Check Repayment Terms: Understand the loan agreement thoroughly, including repayment schedule, prepayment charges, and late payment penalties.
  • Maintain a Good Credit Score: Practices like timely bill payments and avoiding excessive credit utilization improve your credit score, potentially securing better loan terms in the future.
  • Beware of Hidden Charges: Ask clarifying questions about any additional fees or charges associated with the loan.
  • Explore Alternatives: Consider alternatives like credit cards or savings loans depending on your needs and financial situation

Documents Required to Personal Loans in Karnataka

  • Loan application form
  • KYC documents (PAN card, Aadhaar card)
  • Photo ID and address proof
  • Income proof (salary slips/bank statements for salaried individuals, income tax returns/business bank statements for self-employed)
  • Employment proof (company ID card/business registration certificate)
  • Bank account details

How to Apply for a Personal Loan at Karnataka?

Fincover.com is an online marketplace that allows you to compare loan quotes from various banks and NBFCs.

Mentioned-below is the process to apply for a Personal Loan at Fincover.

  • Visit /banking/loan/personal/
  • Complete the loan application by filling up all the necessary details
  • Most popular quotes matching your requirement will be displayed.
  • Apply for the bank along with the requested documents and get a reference number. You can then check the status of the application from our dashboard.
  • Upon verification and approval, the loan will be disbursed to your account. The whole process takes just a few days, some even hours. The loan processing time varies from bank to bank
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Prem Anand
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Prem Anand
10 + years Experienced content writer specializing in Banking, Financial Services, and Insurance sectors. Proven track record of producing compelling, industry-specific content. Expertise in crafting informative articles, blog posts, and marketing materials. Strong grasp of industry terminology and regulations.
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With over 20 years of experience in the BFSI sector, our Founder & MD brings deep expertise in financial services, backed by strong experience. As the visionary behind Fincover, a rapidly growing online financial marketplace, he is committed to revolutionizing the way individuals access and manage their financial needs.
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Written by Prem Anand, a content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors.

Who is the Author?

Prem Anand is a seasoned content writer with over 10+ years of experience in the Banking, Financial Services, and Insurance sectors. He has a strong command of industry-specific language and compliance regulations. He specializes in writing insightful blog posts, detailed articles, and content that educates and engages the Indian audience.

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The content is prepared by thoroughly researching multiple trustworthy sources such as official websites, financial portals, customer reviews, policy documents and IRDAI guidelines. The goal is to bring accurate and reader-friendly insights.

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This content is created to help readers make informed decisions. It aims to simplify complex insurance and finance topics so that you can understand your options clearly and take the right steps with confidence. Every article is written keeping transparency, clarity, and trust in mind.