Karnataka Bank Chennai
Last Updated : Sept. 5, 2018, 3:57 p.m.
About Karnataka Bank
Karnataka bank is one of the rapidly growing Commercial bank in India which was set up in pre- independence era in the year 1924. It was established as the result of the aftermath zeal of the freedom movements during the early 20th century. The bank has grown in leaps and bound since its introduction in the banking sectors. It was formed by the contribution of several lawyers and businessmen. The bank is now known as Karnataka bank Ltd. is the merger of three other company namely Sringeri Sharada bank, Chitradurga bank Ltd. and Bank of Karnataka. It has expanded its base with the total number of 7,669 employees, 1,22,000 shareholders, and 9.2 million customers. It has now spread its network in 21 states and 2 union territories with 743 branches.
The bank has focused on using the best and latest technology to provide the easy and convenient banking to the customers. It was the first bank to introduce the core banking system in the year 2000. It allowed them to access all the accounts from the single place. It has also developed the state of art technology from the best companies in the business to provide the hassle free and continuous service without any disruption. It has also backed up all the data through the disaster recovery center. The center replicates all the data so that if the disaster occurs at the central processing unit then it will come into force to provide the non-stop service from the bank. So, the bank is ready for all sorts of possibility and has been prepared to give the uninterrupted service to its customer. The bank wants to enhance the growth and value of all those who are associated with it by providing the best quality products and services.
Address of Karnataka Bank Branches in Chennai
Branch Name | Address | IFSC Code | MICR | Contact Details |
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R A Puram Chennai | 77, Greenways Road, Raja Annamalai Puram, Chennai 600028 | KARB0000150 | 600052009 | 1800 425 1444 |
Porur Chennai | 3 BY 13, Mount Poonamallee High Road, Porur, Chennai 600116 | KARB0000152 | 600052010 | 1800 425 1444 |
Besant Nagar Chennai | T 32, A BY B, 7TH Avenue, Besant Nagar, Chennai 600090 | KARB0000156 | 600052011 | 1800 425 1444 |
K K Nagar Chennai | DNO 10 P T Rajan Salai K K Nagar Chennai 600078 | KARB0000157 | 600052012 | 1800 425 1444 |
Chennai Mogappair | Old No. 402, New No. 78, Panneer Nagar, Thiruvalluvar Road, Mogappair | KARB0000158 | 600052013 | 1800 425 1444 |
Chennai Ayanavaram | No.4 Old No.22, 3rd Cross Street, Venkatesapuram Colony, Ayanavaram, Chennai 600023 | KARB0000159 | 600052014 | 1800 425 1444 |
West Mambalam | No12, 2nd Street, Chennai West Mambalam, Chennai 600033 | KARB0000161 | 600052015 | 1800 425 1444 |
GT Chennai TC Street | 324, TC Street, Pb 1612, Chennai 600001 | KARB0000462 | 600052002 | 1800 425 1444 |
Mount Road Chennai | 839, Mount Road, Pb2710, Chennai 600002 | KARB0000463 | 600052004 | 1800 425 1444 |
Cathedral Chennai | NO 351, Avvai Shanmugam Lloyds Road, Gopalapuram, Chennai 600086 | KARB0000464 | 600052006 | 1800 425 1444 |
Triplicane Chennai | 132 A, Triplicane High Road, Chennai 600005 | KARB0000488 | 600052005 | 1800 425 1444 |
Anna Nagar Chennai | W123, 3RD Avenue, Annanagar, Chennai 600040 | KARB0000491 | 600052008 | 1800 425 1444 |
Mint Street Chennai | D NO311, 1ST Floor, Mint Street, Sowcarpet, Chennai 600003 | KARB0000494 | 600052003 | 1800 425 1444 |
Kodambakkam Chennai | D NO68, 2ND Main Road, United India Colony, Kodambakkam, Chennai 600024 | KARB0000496 | 600052007 | 1800 425 1444 |
Service Branch Chennai | P.B.NO. 4906, Vadiraja Building, Door No. 351, 2nd Floor, Avvai Shanmugam Road, Gopalapuram Chennai - 600086 | KARB0000155 | 600052001 | 1800 425 1444 |
Tambaram | 11/19, Elumalai Street, West Tambaram, Chennai - 600045 | KARB0000771 | 600052016 | 1800 425 1444 |
Anna Nagar West | Ground Floor, W - 582, Sboa School Road, Annanagar West Extension, Chennai - 6000101 | KARB0000162 | 600052018 | 1800 425 1444 |
Velachery | D/NO-3, PLOT NO.14, Shashi Nagar, Velachery Bye Pass Road, Velachery - 600042, Guindy Taluk, Chennai Dist. | KARB0000163 | 600052019 | 1800 425 1444 |
Products Offered by the Karnataka Bank in Chennai
Karnataka bank is one of the banks which can give you all-round option and solution for the financial problems and requirements. It provides the Retail banking, corporate banking, Treasury operation and other services as well. It gives the investment option through its Mutual fund, Fixed deposit, Demat services etc. It also gives several loan products like the home loan, personal loan, car loan, education loan, gold loan, loan against property and business loan.
Basic details about Karnataka Bank products
Product | Eligibility | Loan Amount | Interest Rate | Processing Fee | Tenure |
---|---|---|---|---|---|
Home Loan | The age of the applicant should be at least 21 years and above. Salaried individuals, Self- employed, Agriculturist and Non- Resident Indians are eligible. Loans for Purchase of House site, Renovation, Construction of house, Furnishing the house. For Indian Residents: Minimum monthly income for Salaried individual is ₹ 10,000. Minimum annual gross income for others is ₹ 1,20,000. For NRI: Minimum monthly income for salaried individual is ₹40,000. Minimum annual gross income for others are ₹ 4,80,000. | 60 times of the monthly net salary or 5 times of the current year net income or maximum up to ₹5 crore for purchase or construction of house. Up to ₹30 lakh for renovation. Up to 80% of the registration value of the site or maximum of ₹50 lakh for purchase of housing site. Up to 75% of the estimated cost of asset for the re-furnishing of the house. | 9.08% - 10.35% | As per Bank’s guidelines | Up to 30 years for purchase or construction of house. Up to 7 years for renovation/extension/repair/remodeling. Up to 120 months for furnishing house. Up to 60 months for the purchase of housing site. |
Personal Loan | The age of the applicant should be between 21 years and above. The applicant should be resident of India. The minimum net monthly salary should not be less than ₹ 10,000 per month for the salaried Individual For the self- employed businessmen or professionals the minimum annual net income should be ₹ 1.2 lakh. | Up to 24 times of the net monthly salary for the salaried individuals or 2 times of the average annual income for others. Minimum of ₹ 1 lakh up to maximum of ₹ 25 lakh | 13.49% | As per Bank’s guidelines | Up to five years |
Car Loan | Eligible Segments - Individuals, professionals, reputed firms and companies, and Non- Resident Indians. The age of the applicant should be 21 years and above. Any individual filing the income tax returns can apply. Agriculturist who own the agricultural properties. | 85% of the road price including all taxes or maximum of ₹ 75 lakh for new vehicle. Maximum amount up to ₹ 20 lakh for the used vehicle. | 7.50% Onwards | As per Bank’s guidelines | For new vehicles - 84 months. For used vehicles- 34 months |
Loan Against Property | Eligible Segments - Individuals, professionals, reputed firms and companies, closely held public limited company, Non- Resident Indians. Should be of age between 21 years and above. For Indian residents: Minimum monthly income is ₹10,000 for salaried individuals and annual gross income for others is ₹ 1.20 lakh. For NRI: Minimum monthly income for salaried individual is ₹ 1 lakh and annual gross income for others is ₹ 12 lakh. | 36 times of the take home salary for salaried individual or 3 times of the average annual income of last 2 years or 50% of the market value of the property. Minimum amount of ₹3 lakh to maximum up to ₹ 50 crore. | 12.20%- 13.20% p.a. | As per Bank’s guidelines | Up to 120 months |
Education Loan | Students are applicable. Any minor or major student represented by Parents/ guardians of Indian nationality. Any students securing admission to a professional/ technical/ other courses in Indian or foreign institution. | Up to ₹ 10 lakh for study in India. Up to ₹ 20 lakh for study in abroad. | 10.60%- 13.95% p.a. | As per Bank’s guidelines. | Moratorium: course period + 1 year 0r 6 months after getting the job. From 5 to 7 years from the commencement of the moratorium period. |
Business Loan | All micro, small, and medium enterprises. Any enterprises engaged in manufacturing/ processing/ packaging/ preservation of goods and providing or rendering of services. Any enterprise conforming to the norms of MSMED Act,2006 and is established according to the definition of MSME. | Up to ₹ 5 crore. For purchase of vehicle- Up to ₹ 1 crore | 10.20% - 13.95% | As per Bank’s guidelines. | Working capital Up to 34 months. Term loan up to 60/ 84 months |
Fixed Deposit | Individual Joint (max. 4 people) A guardian on behalf of a minor HUF Partnership Firm A company Association or any other Institution | Minimum - ₹ 1,000 Maximum - No predetermined limit | 3.50% - 6.20% | 15 days - 10 years 7 days - 14 days only on single deposit of ₹ 5 lakhs & above |
Documents Required
The documents required for the different products by Karnataka bank Chennai are mentioned in the table below:
Products | Documents Required |
---|---|
Home Loan | Loan Application with passport size photograph of applicant / guarantor Identity proof- Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible) Residence proof- Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy. Signature proof- Passport/ PAN Card Processing fee cheque Detailed cost estimate/valuation report from Bank's Panel Chartered Engineer/Architect Allotment letter of Co-operative Housing Society/ Apartment Owners' Association/Housing Board/NOC from the Society/Association/Builders/Housing Board Legal Scrutiny Report, EC for the past 13 years, Property Tax paid receipt, Khata and permission for mortgage, wherever necessary Last 3 months Salary Certificate and Form No.16/ITR for last 3 years (in case of salaried persons) IT Returns filed for the past three years (in case of non-salaried persons) Educational qualification certificate and the Proof of business existence (in case of self-employed businessmen or professionals) Balance Sheet and P&L Account for the past three years (in case of self-employed businessmen or professionals) |
Personal Loan | Loan Application with passport size photographs Proof of Identity: Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible) Proof of Address: Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy. Latest 3 months Salary Certificate and Form No.16 ( for the salaried individual) ITR/ITAO along with computation of income, B/S, P&L account with all scheduled certificate by the CA for last 2 years ( For the self- employed) Bank statement: For salaried individuals: Last 3 months bank statement (where salary is credited) For the self- employed: latest 6 months bank statement/ passbook (current account) For the self- employed: Proof of Qualification, Proof of continuity of business or profession. |
Car Loan | 1 passport size photograph Proof of Identity: Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible and self attested) Proof of Address: Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy. Proof of Income: Latest 2 months salary slip with form 16 Audited balance sheet, and the latest 2 years IT returns of the company/ Latest ITR, bank statement reflecting salary credits for last 4 months. Bank Statement: Income statement, balance sheet and ITR for last 2 years ( for self- employed), Last 6 months bank statement (for salaried individual) Business Proof: CST Certificate/ Labour act, Shop establishment act/ssi certificate, Proof of ownership of entity, Rental deed/ Utility deed in the name of the company. |
Loan Against Property | Duly filled Loan Application with passport size photographs - 2 copies each Identity proof- Passport copy, PAN Card, Voters Id card, driving license( Laminated, Recent, Legible) Residence proof- Ration card/Driving license/Voters card/passport copy/telephone bill/ electricity bill/Life insurance policy. Signature Proof: Passport/ PAN Card. Income proof: Last 3 month salary slip or salary certificate and ITR/ Form-16/ Appointment letter ( for the salaried individual) Last 2 years income tax returns and complete business profile and acknowledgement. Last 2 years financial with full schedules and audits by the certified CA. Bank Statement- Last 6 months bank statement, Last 3 years Profit/ loss and Balance sheet ( for self- employed professionals) Processing Fee cheque Property related documents: All the title related documents of the property that you wish to mortgage for loan. |
Education loan | Duly filled application with recent photographs. Proof of residence – Passport/ Utility bill/ Allotment letter. Date of Birth proof Certificate of Domicile Fee particulars from school/ college Scholarship proof Study Certificate |
Business loan | I.T.R. - 2 Years, Balance Sheet and Profit & Loss Account Proof of ownership of Residential or Commercial Property (including Parental Property) in select locations Latest 6 months Bank statement of Business. Proof of Identity Proof of Residence |
Fixed Deposit | 2 Photographs of Depositor/s Identity Proof and Address Proof Any other related documents as applicable to proprietorship concern, Partnership Firm, Company, HUF etc. |