According to the official rate sheet of Jankalyan Nagari Sahakari Patsanstha Maryadit (Karad), the Jankalyan Bank personal loan interest rate starts from 12% p.a. The 12% to 15% band isn’t a fixed rate for everyone. The actual interest you get depends on several factors, like the product type.
This interest rate applies to personal loans with a typical tenure of 3 to 5 years and for amounts up to their sanction limit (in their case, up to around Rs 2,00,000 as per their schedule).
A shorter or longer loan duration, or a different sanctioned amount, can shift the rate within that band.
Banks (including cooperative banks like Jankalyan) assess a borrower’s repayment history, credit score (if available), income stability, and overall risk.
A borrower with a stronger profile is more likely to be offered the lower end (12%), while someone with weaker credit or higher risk may be charged a higher rate (15%).
Since it’s a “simple” personal loan, the bank treats it as unsecured credit (no property or asset as collateral). Unsecured loans generally carry higher interest because of higher risk.
If the purpose seems riskier (e.g., business use, variable income self-employed borrowers), the bank may quote a higher interest.
The interest rate the bank itself pays on deposits, its administrative costs, and overall lending policies influence the final rate. If deposit rates go up, banks may raise lending rates to maintain margins.
Regulatory changes or changes in central bank policy also indirectly affect these rates over time.
Hope this helps.
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The Jankalyan Bank personal loan interest rate is 13.00 percent per annum. I have been looking at different banks to get a personal loan. Yesterday, I went through the personal loan offerings of Jankalyan Bank. So, let me give you proper insight into their personal loan. I will share the loan amount, repayment period, eligibility, etc below.
Features of Jankalyan Bank Personal Loan
Here are the details about the personal loan from the Jankalyan Bank:
Feature | Figure |
Interest Rate | 13.00 percent p.a. |
Processing Fees | 0.70 percent of the loan amount |
Maximum Loan Amount | Rs. 5 lakhs |
Repayment Period | Up to 60 months |
Security Needed for loans up to 0.50 Lakhs | Nil |
Security Needed for Loan above 0.50 Lakhs | 5 percent of the loan amount |
Eligibility Critieria
Here are the eligibility criteria to secure a loan from the Jankalyan Bank:
You must either be a salaried or a self-employed applicant.
Salaried applicants need at least 1 year of working experience.
A self-employed person needs to be profit-earning for a minimum of the past 12 months.
Security of 5 percent of the loan amount applicable in the form of Fixed Deposit/National Saving/Certificate/LIC/Kisan Vikas Patra.
1 guarantor for loans up to Rs. 1 lakh.
2 guarantors for loans above Rs. 1 lakh.
This is all I have to tell you. I hope this helps.
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2025-01-31T17:31:19+00:00 2025-01-31T17:31:21+00:00Comment
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