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Business Loan
Personal Loan
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Loan Against Property
Here are a few factors
Location | Anywhere within reach in Branch |
Applicant | Any Self Employed Person |
CIBIL Score | 700+ |
Loan Amount | 10 Lac to 200 Cr |
Turnover | 50 Lac+ |
Rate of Interest | 9.5% to 15% |
Tenure | OD/CC Limit- 1 year revolving Term Loan-3 year to 15 year |
Processing Fees | 0.50% to 2% |
Foreclosure Charges | Nil for MSME For others as per Policy |
Business Vintage | 2 Year |
Collateral Coverage | 50% to 125% |
Working Capital Assessment | OD-25% of Last turnover CC-20% of last turnover or as per business cycle |
Moratorium Allowed in case of Term Loan | Yes, vary project to project |
Assessment Program |
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Product | All Working Capital Product |
Required Documents to Apply for Bank Of Karnataka Working Capital Loan
A. Document List
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Business Profile of applicant
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KYC of applicant & Co-Applicant
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Last 3 year ITR with computation of income of applicant & co-applicant
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Last 3 year audited balance sheet of applicant
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Last 3 year Tax audit report of applicant
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Provisional Balance Sheet of applicant if applicable
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CoProjections of Next 3 year for Working Capital and 5 year to for Loan Tenure for Project Loan
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Last 12 month Bank Statement of applicant & co-applicant
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26AS of last 2 year of applicant & co-applicant
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Copy of GST registration
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Copy of MSME registration if available
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Copy of Last 12 month GST return
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Copy of all Approvals and/or affiliations received
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Property Paper with complete chain of last 13 years
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Sanction letter of all running loan
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Existing Debt Sheet
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Latest utility Bill of residence if owned or rent agreement if rented
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Latest utility Bill of Office if owned or rent agreement if rented
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2 Reference with contact details
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Last 3 year Debtors & Creditors on letter head
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List of Directors & Shareholders/Partners on Letter head as the case may be
Applicant may be
- Company
- Partnership Firm/LLP
- Proprietorship Firm/Individual
- Company-Directors
- Partnership Firm/LLP-Partners
- Proprietorship/Individual-Spouse of Proprietor/Individual
- Company : MOA, AOA, COI & PAN Card of Company
- Partnership Firm/LLP : Partnership Deed & Pan Card of Firm/LLP
- Individual : PAN Card, Aadhar Card, Pan Card & Passport Size Photo
About Bank of Karnataka Working Capital Loan
The "Bank of Karnataka Working Capital Loan" is a financing option that helps firms meet their short-term operating demands. Working capital loans are necessary for firms to run smoothly on a daily basis, handle inventories, pay salaries, and meet other operational costs.
The Bank of Karnataka provides specialized working capital solutions to meet the specific demands of various businesses, assisting them in optimizing their cash flow management.
Because the bank offers reasonable interest rates, businesses can apply for low-interest loans to satisfy their working capital needs. The bank intends to speed up the loan approval procedure, allowing businesses to have access to funds as soon as possible.
Advantages of Getting a Working Capital Loan from ReferLoan
As a business owner, you know that slow-paying customers are a real problem and you've come to realize that cash flow issues are holding back your growth. Get a working capital loan with Referloan and you can be sure that it is worth the money.
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Minimal Documentation
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Rapid Procedure
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Instant Approval
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Determined Loan Tenure
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Low-Interest Rates
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Wide Range of Lenders
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No Collateral Required*
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Flexible EMIs
Factors You Need to Consider Before Applying for a Working Capital Loan
Most of the banks are very particular regarding their guidelines when it comes to Working Capital Loan. So any sort of lack of eligibility or documentation can cost you a loan application rejection.
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Examine your loan’s needs.
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Do proper research to get the best rate
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Examine your credit report
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Carefully read the fine print on your loan agreement.
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Assess your repayment ability before deciding on a loan term
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Select a reasonable interest rate.
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Examine your EMIs thoroughly
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Examine the processing costs
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Depending on your option, choose a fixed or variable interest rate
Invest in your dreams. Get a Working Capital Loan.
With a working capital loan, you can start up your own business or buy and sell merchandise easier by getting the cash needed to expand your operations. Apply now and be on your way to success!
Visit Our Website
For the first step, you will have to visit our website to explore the loan options that fit your needs.
Select and Apply
Once you shortlist the loan you have been looking for, apply for it, and proceed with the further process.
Submit Your Document
One of the most important steps. Now you will have to submit all the required documents digitally.
Enjoy Your Financial Freedom!
Once your application is approved based on your eligibility, the amount will be disbursed to your account shortly.
What is a Working Capital Loan?
A working capital loan is a type of financing wherein you get money to pay for your daily expenses. This loan may be from a bank, private lender, government agency, or any other financial institution that approves loans based on the grantor's credit history. A business may avail of this loan if there is no steady flow of income for it to keep its business running. The money provided by this loan will be used for everyday operating costs like the payments of salaries, utilities, accounts receivable, and depreciable expenses. This type of loan is taken out by businesses that have regular sales or revenue accounting for a major amount of their operating expenses.
FREQUENTLY ASKED QUESTIONS
For current clients, you are able to negotiate lower interest rates if you are in a good relationship with Karnataka Bank, have a solid credit score, and have a steady cash flow.
It typically varies from 10% to 21%. Depending on the qualifying requirements set by the bank, these will differ from lender to lender.
By calling the customer service line or logging into your account if you have one, you can check the progress of your Karnataka Bank working capital loan. If you're working with an account manager, you may also ask them a question.
You can submit an application for a small or startup loan at Karnataka Bank via one of the routes made accessible to clients. which include the internet, customer service, or going in person to the branch.
ou make equal monthly payments (EMIs) on the loan. Post-dated checks will be used to repay the loan. You may also use the Electronic Clearing System (ECS) to make payments.