1 Crore Home Loan Canara Bank

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Homeownership is a dream for many Indians. Embarking on a journey to build or buy a house as big as you have dreamed of may seem impossible without financial assistance. In such instances, the Canara Bank 1 crore home loan can be an ideal solution to fulfil your dream. Eligible applicants can expect competitive interest rates, flexible repayment options, nominal processing fees, a digital application process, and a complimentary credit card, making it a more borrower-friendly credit option. However, there are certain aspects you should be aware of before finalising your decision. These include the 1 Crore home loan EMI in Canara Bank, associated fees, eligibility criteria, required documentation, etc. To learn more, continue reading down.

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1 Crore Canara Bank Home Loan EMI Calculator

Loan Amount

₹

5 Lac
20 Cr

Loan Tenure

Years

Rate Of Interest

Monthly Loan EMI

Payment Breakdown:

Principal Amount

₹1,00,00,000

Interest Payable

Total Amount Payable

Table of Content

1. 1 Crore Home Loan Canara Bank Highlights

2. 1 Crore Home Loan EMI for 10 Years Canara Bank

3. 1 Crore Home Loan EMI for 20 Years Canara Bank

4. 1 Crore Canara Bank Home Loan Fees and Charges

5. 1 Crore Canara Bank Home Loan Documents Required

6. 1 Crore Canara Bank Home Loan Eligibility Criteria

Written By

Kirti Bansal

Kirti Bansal is an esteemed financial expert and accomplished writer, specializing in a range of financial topics, including Financial Services, Investments, Loan Assessments, Mutual Funds, and Banking. With a wealth of experience in the financial industry, she has earned a reputation as a trusted voice! Her expertise serves as a beacon for those navigating the intricacies of finance.

Reviewed By

Piyush Bothra

Chief Financial Officer, Square Yards

Piyush Bothra is the Chief Financial Officer at Square Yards, bringing over two decades of rich experience in finance and leadership. He is an MBA graduate from the prestigious IIM Lucknow and holds a BE in Information Technology from Sardar Vallabhbhai Patel Institute of Technology. He has played pivotal roles in scaling businesses and driving financial strategies. At Square Yards since 2015, Piyush is known for his strategic vision, strong financial knowledge, and valuable financial insights, significantly contributing to the company's growth and success.

Last Updated: 26th September 2024

1 Crore Home Loan Canara Bank – Highlights

Let’s examine the Canara Bank home loan interest rate for 1 Crore and other key parameters:

Interest Rates	9.25% p.a. onwards
Loan Amount	₹1 crore, subject to your income/salary
Loan Tenure	30 years
Eligibility	Both salaried and self-employed individuals are eligible

1 Crore Home Loan EMI for 10 Years Canara Bank

Let’s examine the 1 Crore home loan EMI for 10 years with Canara Bank:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹1 Crore	9.25% p.a.	10 years	₹1,28,033	₹53,63,960	₹1,53,63,960

1 Crore Home Loan EMI for 20 Years Canara Bank

Let’s examine the 1 Crore home loan EMI for 20 years with Canara Bank:

Loan Amount	Interest Rate	Loan Tenure	EMI Amount	Total Interest Payable	Total amount Payment
₹1 Crore	9.25% p.a.	20 years	₹91,587	₹1,19,80,880	₹2,19,80,880

1 Crore Canara Bank Home Loan – Fees and Charges

Apart from the 1 Crore home loan EMI in Canara Bank, you should also be aware of certain fees and charges such as:

Fee/Charge	Amount
Processing fee	0.5% of the loan amount
Prepayment charges	Nil
Late payment charges	2% p.a. on the amount of default
Documentation charges	₹100 per lakh
Stamp duty	As per applicable state laws
Legal fee	As actual

1 Crore Canara Bank Home Loan – Documents Required

Following are the required documents for a 1 Crore home loan EMI with Canara Bank:

Identity Proof	Aadhaar card, PAN card, driver’s license, passport, voter ID card, etc.
Address Proof	Driver’s license, voter ID card, electricity bill, telephone bill, etc.
Salaried Individuals	Last 6-month bank statement, 3-year IT returns, and recent salary slip.
Self-Employed Individuals	Last 3-year balance sheet, profit & loss account, ITR/ITAO certificate, bank statement, and business proof.

1 Crore Canara Bank Home Loan – Eligibility Criteria

1 Crore home loan eligibility in Canara Bank is as follows:

Age Limit	21 – 60 years old
Residential Status	Both Resident Indians (RI) and Non-resident Indians (NRI)
Employment Type	Either salaried or self-employed individuals
Employment Experience	2 years of work experience or business continuity
Income Requirement	Up to 72x monthly salary or 6x yearly business income
Credit Score	Preferably 700 or above

Frequently Asked Question (FAQs)

What is the EMI for a 1 Crore Home Loan for 20 years in Canara Bank?

₹91,587 is the expected EMI for a 1 Crore Home Loan for 20 years, based on the interest rate of 9.25% p.a.

Who is eligible for a 1 Crore Home loan in Canara Bank?

Both salaried and self-employed individuals are eligible for a 1 Crore Home loan in Canara Bank.

What is the monthly interest rate of a 1 Crore home loan in Canara Bank?

The monthly interest rate for a 1 Crore home loan from Canara Bank is 0.74%, corresponding to an annual rate of 9.25%.

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