Corporate Business Loans from Karnataka Bank
One of the ‘A’ class scheduled commercial banks in India, Karnataka Bank Limited (KBL) offers a wide range of finance products to different segments of its customer base. The bank has a wide array of funded and non-funded facilities for its retail, corporate, MSME, NRI and other customers. It offers various business loans to its corporate customers to help them meet their working capital, capital expenditure and other needs.
In this page, we summarise three business loans from Karnataka Bank:
- KBL Commodity Pledge
- KBL Contractor Mitra
- KBL Mahila Udyog
We give you a brief intro to the business loans below. In addition, you have the option to click further and read in detail about the loans in a specific page of their own. This specific page has been made specifically for you to get all the information you need on that loan in an uncluttered and easy-to-read format. If information is less or not available, we have been not been able to create an information page as yet, but we may do so in the course of the next few months.
Karnataka Bank KBL Commodity Pledge
This loan helps businesses involved in the trading and processing of agricultural commodities get funds by pledging agricultural commodities purchase or processed by them. The minimum loan amount sanctioned under this loan is Rs. 10 lakh.
Features of Karnataka Bank KBL Commodity Pledge (Loan)
Why this Loan?
- The Karnataka Bank KBL Commodity Pledge helps businesses involved in the trading and processing of agricultural commodities avail financial assistance by pledging agricultural commodities purchase or processed by them
- The maximum loan amount available under this loan is up to 70% of the value of the produce pledged or Rs. 2 crore, whichever is lower
- As of March 2020, the interest rate applicable on this loan is 10.67%
Karnataka Bank KBL Contractor Mitra Loan
This loan helps businesses engaged in civil contract activities purchase new or pre-owned vehicles for business use. This loan can also be availed to purchase new machinery required for the business. The maximum loan amount sanctioned under this loan is Rs. 10 crore.
Features of Karnataka Bank KBL Contractor Mitra Loan
Why this Loan?
- The Karnataka Bank KBL Contractor Mitra Loan is meant for corporate entities involved in civil contract activities to help them purchase new/second-hand vehicles or new machinery for business use
- The loan must be repaid in Equated Monthly Instalments (EMI) within 7 years for new vehicles and 4 years for pre-owned vehicles
- As of March 2020, the interest rate applicable on this loan is 10.52%
Karnataka Bank KBL Mahila Udyog
This is a business loan scheme for women entrepreneurs and for businesses where at least 51% of the shareholding and controlling stake is held by women to meet credit requirements for income-generating activities. This loan can also be availed by all-women Self-Help Groups (SHG).
Features of Karnataka Bank KBL Mahila Udyog
Why this Loan?
- The Karnataka Bank KBL Mahila Udyog is perfect for individual women entrepreneurs, firms/ companies with at least 51% of the shareholding and controlling stake held by women entrepreneurs and all-women SHGs to meet their working capital, capital expenditure and other needs directly related to income-generating activities
- The maximum loan amount offered by the bank is Rs. 2 lakh for working capital and Rs. 10 lakh for other needs
- As of March 2020, the interest rate applicable on this loan is 10.47%
For more details on this loan, please click anywhere on this sentence to get to its specific page.
Important Note: Even though the bank’s website has information available for a few business loan schemes at this time, there is a possibility that the bank may offer more corporate loan options which are not yet published on the website. We suggest that you get in touch with the nearest branch to check the loan schemes they offer. This will also help you get a custom quote since many loan schemes are need-based and certain charges such as application charges, service charges, etc. may be decided on a case-to-case basis.
Interest Rate
- The applicable interest rate on Karnataka Bank business loans is mentioned on the bank’s website for each loan. We have also mentioned the applicable interest rate in the description of the loan. Check out the Karnataka Bank Business Loan Interest Rates here
Documents Needed for Individuals
- Loan Application Form duly filled and signed by the applicant and co-applicant, if any
- Two Passport Size Photographs of applicant and co-applicant
- Personal ID Proof: Aadhaar Card, PAN Card, Passport or Driving License. PAN Card/ PAN Card Issue Letter is must
- Signature Proof: PAN Card, Banker’s Verification, Driving License or Passport
- Residential Address Proof (Any One): Aadhaar Card, Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income/Banking Proof: Last 6 months Bank Account Statement of applicant and co-applicant, Loan Statement of Running Loans, Latest Closed Loan NOC, Net Worth of the applicant and co-applicant
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- For term loans: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Documents Needed for Proprietorship and Partnership Firms
- Loan Application Form duly filled and signed
- Partnership Deed and Partnership Registration Certificate
- ID Proof of the Firm: Firm PAN Card or PAN Issuing Letter
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Income Proof: CMA Data and Project Report, Debtors and Creditors Certificate, GST Return, Last 3 years ITR of applicant and co-applicant, Audited or CA Certified Computation of Income/Trading Account/Profit and Loss Account/Balance Sheet, Annual Audit Report and Tax Audit Report if audited, Form 16A if applicable, Net Worth of applicants, co-applicants and guarantors
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security (as applicable): Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Partnership’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
- For Term Loans Only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Documents Needed for Private Limited and Public Limited Companies
- Application Form duly filled and signed
- Company ID Proof: Company’s PAN Card
- Office Address Proof: Electricity Bill, Post-paid Phone Bill, Valid Rent Agreement
- Business Proof: AOA and MOA, Company Incorporation Certificate, Business Commencement Certificate, Board Resolution, CA/CS verified Share Holding Pattern, ROC Annual Return, DIN Certificate, List of Directors on Company Letter Head, GST Number, Form 32 in case of Director Change
- Income Proof: CMA Data and Project Report, Last 3 Years ITR Acknowledgement copy of Company and all Directors, Last 3 Years Annual Credit Report or Tax Audit Report with Article 3CB, Article 2D, Article 3CD, TDS Certificate/Form 16A, Net Worth Certificate
- Banking Proof: Last 1-year Statement of Company’s Major Account, Current Account, Cash Credit Account, Overdraft Account, Loan Statement of Running Loans, Latest Closed Loan NOC and Last 6-months Bank Statement of Applicant and Co-applicant’s Savings Account
- Security: Margin Money, Previous and Current Sales Deed, Plant and Machinery list, Plant and Machinery Current Valuation Report, Property Photographs, Previous Property Search and Valuation Report
- Other Relevant Documents: Company’s Business Profile, Promoter/Guarantor’s Profile, Corporate Brochure, Business Experience Supporting Documents, Business References
- For term loans only: Project report with details on product choice, market survey, projection of production and sales, infrastructural needs, etc.; projected cash and fund flow statement for the repayment period; and copies of all licenses and permits wherever applicable
Reference Facts
- Karnataka Bank Website: www.karnatakabank.com
- Headquarters: Mangalore, Karnataka
- Call Centre Toll-Free Number: 1800 425 1444