The interest rate on a Canara Bank home loan starts at 6.90% p.a. Canara Bank offers mortgage loans with flexible repayment tenures of up to 30 years. Get housing finance for purchase, construction, or home renovation. Affordable home loan interest rates are available to both salaried and self employed individuals. Apply online for Canara Bank's lowest EMI deal, starting at Rs 691 per lakh, and unlock plenty of features, including minimal documentation, balance transfer, top up loans and low processing fees
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Check Canara Bank Home Loan Eligibility
Features and Benefits of Canara Bank Home Loan
Give below are some of the features and benefits of obtaining a home loan from Canara Bank:
- Get up to 60% of the property value as a sanctioned loan amount.
- Low-interest rates, starting at 8.1% per annum.
- Minimal documentation requirement.
- Canara Bank home loans are linked to floating interest rates. This means that you will not have to pay any charges for the prepayment of the loan.
- Simple online digital application process.
- Get extended tenure of up to 30 years.
- Minimum and hassle-free documentation process
- Balance transfer facility available for eligible customers
- Low processing fees
Canara Bank Home Loan Eligibility Criteria
Given below are the eligibility criteria to obtain a home loan from Canara Bank:
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 |
Type of employment | Salaried/Self-employed/Businessmen/Professionals |
Canara Bank Home Loan Fees and Charges
In addition to the interest rates, there are a number of other fees and charges that Canara Bank levies on its home loan products, some of which are given below:
- Processing Fee: Canara Bank charges 0.5% of the sanctioned loan amount with respect to processing fees. This is for the amount spent to complete the lending process.
- Legal and Technical Charges: Canara Bank also charges legal and technical fees as decided during the loan processing period. You are required to pay this amount after the loan has been processed.
- Prepayment Fees: When the borrower wants to transfer the home loan to another provider, they are required to submit an application to Canara Bank informing the same. In accordance with the rules set by the Reserve bank of India, loans issued with floating interest rates will not have any prepayment charges.
Documents Required for Canara Bank Home Loan
Given below are some of the documents required to be submitted while making a home loan application with Canara Bank:
Common Documents
- Completed and signed home loan application form
- Two passport size photographs
- Identity proof documents
- DOB proof documents
- Address proof documents
- Copy of PAN Card
- Property documents
- Processing fee cheque
Income Documents for Salaried Applicants
- Recent 6 month salary slips
- Bank account statement from the previous 6 months
- Confirmed employment proof of 3 years
Income Documents for Self-Employed Applicants
- P&L account statements from the previous 3 years and balance sheet
- ITR from the previous 3 years
- A broad summary regarding the nature of business, present banker, year of establishment, net worth of the applicant, etc.
- Bank statements from all bank accounts
- Business license
How Does Canara Bank Compare With Other Lenders?
The table given below depicts how Canara Bank compares with other lenders and loan providers in the market:
Lender | Interest Rate upto Rs. 30 lakhs (%) | Interest Rate above Rs. 30 lakhs to Rs. 75 lakhs (%) | Over 75 lakhs (%) |
Canara Bank | 7.05 – 11.85 | 7.05 – 11.85 | 7.05 – 11.85 |
State Bank of India | 6.65-7.65 | 6.65-7.65 | 6.65-7.65 |
HDFC | 7.00-8.45 | 7.00-8.60 | 7.00-8.70 |
Axis Bank | 7.00-11.90 | 7.00-11.90 | 7.00-11.90 |
ICICI Bank | 7.10-7.95 | 7.10-7.95 | 7.10-7.95 |
Kotak Mahindra Bank | 7.00 onwards | 7.00 onwards | 7.00 onwards |
PNB Housing Finance | 6.75-12.00 | 6.75-12.00 | 6.90-9.75 |
Punjab National Bank | 6.95-8.35 | 6.90-8.05 | 6.90-8.00 |
Bank of Baroda | 6.90-8.40 | 6.90-8.40 | 6.90-8.65 |
Union Bank of India | 6.50-8.25 | 6.50-8.45 | 6.50-8.45 |
Canara Bank Home Loan Customer Care Number
If you have any doubts or queries regarding Canara Bank Home Loan, you can contact their customer care in the below mentioned ways:
Toll-Free Number |
|
E-mail Address | cansecuresupport@canarabank.com |
Address | Canara Bank Head Office, 112, J C Road, Bangalore – 560 002 |
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Canara Bank's Calculators
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Canara Bank's Other Products
Canara Bank's IFSC Codes
- Canara Bank Andaman and Nicobar
- Canara Bank Andhra Pradesh
- Canara Bank Assam
- Canara Bank Bihar
- Canara Bank Chandigarh
- Canara Bank Chhattisgarh
- Canara Bank Dadra and Nagar Haveli
- Canara Bank Delhi
- Canara Bank Gujarat
- Canara Bank Haryana
- Canara Bank Himachal Pradesh
- Canara Bank Jammu and Kashmir
- Canara Bank Jharkhand
- Canara Bank Karnataka
- Canara Bank Kerala
- Canara Bank Lakshadweep
- Canara Bank Madhya Pradesh
- Canara Bank Maharashtra
- Canara Bank Manipur
- Canara Bank Meghalaya
- Canara Bank Mizoram
- Canara Bank Nagaland
- Canara Bank Odisha
- Canara Bank Puducherry
- Canara Bank Punjab
- Canara Bank Rajasthan
- Canara Bank Tamil Nadu
- Canara Bank Telangana
- Canara Bank Tripura
- Canara Bank Uttarakhand
- Canara Bank Uttar Pradesh
- Canara Bank West Bengal
Home Loan By Other Banks
- Axis Bank Home Loan
- Bank of Baroda Home Loan
- HDFC Bank Home Loan
- ICICI Bank Home Loan
- Bajaj Finserv Home Loan
- IndiaBulls Home Loan
- CITI Bank Home Loan
- DHFL Home Loan
- YES Bank Home Loan
- Union Bank of India Home Loan
- Federal Bank Home Loan
- IndusInd Bank Home Loan
- State Bank of India Home Loan
- IDFC FIRST Bank Home Loan
- Punjab National Bank Home Loan
- Hero FinCorp Home Loan
- IDBI Bank Home Loan
- Kotak Bank Home Loan
- Deutsche Bank Home Loan
- Punjab National Bank Housing Finance Home Loan
- Tata Capital Housing Finance Limited Home Loan
- Standard Chartered Bank Home Loan
- Hero Housing Finance Home Loan
- Punjab & Sind Bank Home Loan
- Godrej Housing Finance Home Loan
- Reliance Capital Home Loan
- Ujjivan Small Finance Bank Home Loan
- Indian bank Home Loan
- Capital First Ltd. Home Loan
- Home First Finance Company Home Loan
- Muthoot Finance Ltd Home Loan
- RBL Bank Home Loan
- Vastu Housing Finance Home Loan
- Clix Capital Home Loan
- Aditya Birla Finance Limited Home Loan
- L&T Finance Home Loan
- Poonawalla Fincorp Limited Home Loan
- Piramal Housing Finance Home Loan
- Fullerton India Home Loan
- IIFL Finance Home Loan
- Edelweiss Financial Services Home Loan
- Bank of India Home Loan
- Aadhar housing Finance Home Loan
- DCB Bank Home Loan
- Capri Global Home Loan
- Bank of Maharashtra Home Loan
- HDFC Sales Home Loan
- Cholamandalam Finance Home Loan
- HSBC Home Loan
- LIC Housing Finance Home Loan
- Housing Development Finance Corporation Home Loan
Financial Calculators
FAQs
From refinancing to reducing your interest, we have the answers right here.
Can the applicant choose between floating or fixed interest rates?
No, the Canara Bank offers home loans at floating interest rates only.
What is the home loan eligibility determined by?
The Canara Bank home loan eligibility depends on various factors like credit score, age, income, job profile, employer’s profile, etc.
Is there any concession on home loans for women?
Yes, Canara Bank offers a concession of 0.25% on the interest rate for women.
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