Canara Bank Home Loan Schemes
Canara Bank has a range of home loans to meet your requirements. These are: Canara Housing Loan, Canara Site Loan, Canara Home Loan Plus, and Home Improvement Loan.
- Interest rate: 6.65% to 8.90% p.a.
- Processing fee: 0.50% of the amount (min. Rs.1,500 and max. Rs.10,000)
- For purchase/construction of house, purchase of plot, and renovation/expansion
- Available for individuals with stable employment/business and income for at least 3 years
- Also available for persons aged 60 or more who fulfil certain conditions
Canara Bank Home Loan EMI Calculator
| Loan Amount | 10 Year EMI | 20 Year EMI | 30 Year EMI |
| Rs.10 lakh | Rs.11,431 | Rs.7,544 | Rs.6,420 |
| Rs.20 lakh | Rs.22,863 | Rs.15,089 | Rs.12,839 |
| Rs.30 lakh | Rs.34,294 | Rs.22,633 | Rs.19,259 |
| Rs.40 lakh | Rs.45,725 | Rs.30,177 | Rs.25,679 |
| Rs.50 lakh | Rs.57,156 | Rs.37,722 | Rs.32,098 |
Canara bank home loan EMI per Rs lakh is Rs. 659, which is the lowest EMI offered by the bank. The housing loan EMI amount is calculated based on loan amount, loan tenure and lowest interest rate as 6.65%.
Check the monthly repayment amount of your home loan before applying by using the Home Loan EMI Calculator.
Canara Bank Home Loan Eligibility Criteria
| Eligibility criteria | Requirements |
|---|---|
| Minimum age of the applicant | 21 years |
| Maximum age of the applicant | 70 years |
| Residency status | Residents of India/Non-residents of India (Depending on the scheme chosen) |
| Type of employment | Salaried/Self-employed/Businessmen/Professionals |
Documents Required for Canara Bank Home Loan
Generally, when you apply for housing finance, you will be required to submit the below documents:
- Identity proof (Any one)
- Valid passport
- PAN Card
- Driving licence
- Voter’s ID
- Aadhaar Card
- Address proof (Any one)
- Aadhaar Card
- PAN Card
- Copy of utility bills
- Voter’s ID
- Driving licence
- Valid passport
- Income proof (Any one)
- Salaried individuals
- Salary/Employment Certificate
- Recent salary slips
- Latest Form No.16
- Self-employed individuals
- ITAO/IT Returns of the last 3 assessment years
- Letter about nature of business, type of organisation, year of establishment, etc.
- Last 3 years’ Balance Sheet and P&L Account
- Salaried individuals
- ther documents
- 2 passport-sizes photos of the applicant/guarantor
- Filled application form
- Sale Deed
- Agreement for Sale
- Approved plan for the proposed construction/extension/addition (Duplicate copy)
- Detailed cost estimate/valuation report designed by Bank’s Architect/Panel Chartered Engineer
- Allotment letter of Co-operative Housing Society/Apartment Owners’ Association/Housing Board/NOC from the Society/Association/Builders/Housing Board
- Legal Scrutiny Report
- NIL Encumbrance Certificate (EC) for the past 13 years
- Property Tax paid receipt
- Khata Certificate, Khata Extract
- Permission for mortgage, wherever necessary
- Cost estimates and Proforma Invoices
- Lease Deed copy, if applicable
- Valuation Report of the property from Panel Valuer of the bank
Apply Canara Bank Home Loan Online
- To apply online, you must first visit the bank’s official website, canarabank.com.
- On the homepage of the website, the Loan Products option appears in the Personal Banking option, click on it.
- On the next page, all home loan types come before you.
- Select the home loan you want to apply for.
- All information regarding that loan will come before you.
- Click Apply Now to apply.
- The loan form opens in front of you.
- Enter the requested information on the form and submit the form.
- After submitting the form, the bank representative will contact you and further the loan process.
How to apply Offline
- You should first go to your nearest Canara Bank branch.
- You should contact the bank employee by going to the bank branch.
- The bank employee will provide you with all the information about the home loan.
- Then your records will be checked.
- You will be given a form.
- You must correctly enter all the information requested on the form, attach your records and submit the form to the bank.
- The loan amount will be transferred to your bank account if your loan is approved.
Language : Kannada
Which Department : Education
Central OR State Information: State
Location : Karnataka
Published Date : 2020
Information Term : Short
Purpose of Information : Employee
Information Format : JPJ
Information Size : 672kb
Number of Pages : 02
Scanned Copy : Yes
Information Editable Text : No
Password Protected : No
Image Available : Yes
Download Link Available : Yes
Copy Text : No
Information Print Enable : Yes
File Quality : High
File size Reduced : No
File Password : No
Rate : Free of cost
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