Canara Bank Personal Loan of 40000

Get in Touch for Personal Loan Expert Advice
Connect with our Personal Loan Advisor Now!
  • Personalized Personal Loan solutions
  • Expert guidance
  • Application assistance
  • Credit score discussion
  • Personal Loan Interest rate comparison
+91
Choose City

Written By
Kirti Bansal
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
Amit Prakash Singh
Amit Prakash Singh
Co-Founder, Square Yards & Chief Business Officer, Urban Money
Amit Prakash Singh is the Chief Business Officer at Urban Money. With over nine years of experience at Square Capital, he has played a crucial role in establishing it as one of India's premier loan advisory services. Amit's deep financial insights and extensive knowledge have driven significant business growth and strategic advancements. He has successfully built and managed large sales teams, optimised costs, and created leaders within the industry. Amit's financial expertise and strategic vision are key to the ongoing success and expansion of Square Yards and Urban Money.

Canara Bank provides high-quantum loans with flexible repayment options of 1-7 years. For a loan of Rs. 40000, the interest rate starts from 10.95% per annum. The bank also offers quick and hassle-free online loan processing and disbursal. To apply for a Canara Bank 40000 personal loan, individuals can visit their nearest branch or apply online through the bank’s website.

Personal Loan Options for 40000 in Canara Bank

Canara Bank offers several types of personal loans.

  • Canara Budget Prime and Canara Budget DelightInstant 40000 loan from Canara Bank for personal needs.
  • Canara Pension –Personal loan option for pensioners of government and corporate undertakings.
  • Teachers Loan – Exclusive loan offers forteaching and non-teaching staff.
  • Canara Cash –Secured personal loans issued against collateral of Shares, Debentures, Bonds and Units.

Features of Canara Bank 40000 Personal Loan 

Here are some of the features of Canara Bank’s personal loan of 40000, which make it an attractive choice.

  • Options of fixed or variable EMI.
  • No processing charges on Canara Budget 40000 or greater personal loan EMI plan.
  • High quantumloans starting from 40000 personal loans with instant approval
  • Maximum up to 84 months repayment tenure.

Can I get 40000 personal loan instantly from Canara Bank? 

It is possible to get an instant 40000 loan from Canara Bank with a pre-approved offer.Canara Bank usually approves loan requests within 2-7 working days. Customers who present all required documents upon loan application or have a high credit score above 750 may receive instant approval.

What is the EMI for 40000 loan? 

Here are a few projections of different EMI plans for a 40000 loan at an interest rate of 10.95%.

Canara Bank personal loan of 40000 EMI plan with a repayment tenure of 1 year.

Month Beginning Loan Balance EMI Principal Monthly Interest Outstanding Balance
1 40000 3534 3169 365 36831
2 36831 3534 3198 336 33632
3 33632 3534 3227 307 30405
4 30405 3534 3257 277 27148
5 27148 3534 3286 248 23861
6 23861 3534 3316 218 20545
7 20545 3534 3347 187 17198
8 17198 3534 3377 157 13821
9 13821 3534 3408 126 10412
10 10412 3534 3439 95 6973
11 6973 3534 3470 64 3502
12 3502 3534 3502 32 0

Canara Bank personal loan of 40000 EMI plan with a repayment tenure of 2 years.

Month Beginning Loan Balance EMI Principal Monthly Interest Outstanding Balance
1 40000 1863 1498 365 38502
12 22745 1863 1655 208 21089
24 1847 1863 1846 17 0

Eligibility Criteria 40000 loan in Canara Bank

Here are the important criteria for 40000 personal loan eligibility of Canara Bank.

  • Salaried applicants must have proven 1 year of work experience in their current company.
  • Government/Corporate employee.
  • Self-employed applicants with a high credit score.
  • Applicant must have a co-signer for co-obligation.
  • Applicants with a Canara Bank salary account.

Documents Required 40000Canara Bank loan

Here is a list of the necessary 40000 personal loan documents by Canara Bank.

  • Identity and address proof (passport/PAN card /Voter ID card/driving license/Aadhaar)
  • Last 6 months’ salary slip for salaried.
  • Form-16 for the last 3 years.
  • Income Tax Returns for the last 3years.
  • Delivery letter to DPN (Only for Canara Pension Personal Loan)

How to Apply for 40000 Personal loan From Urban Money? 

Applying for a Canara Bank personal loan of 40000 from Urban Money is easy. 

  • Head to the personal loans section on Urban Money. 
  • Select Canara Bank to enter query details.
  • Enter the Loan Amount, Monthly Net Salary, Estimated EMIs and Tenure
  • Send your request and wait for approval.

Personal Loan By Banks

Frequently Asked Question (FAQs)

How long does it take for Canara Bank to approve a 40000 personal loan?

Canara Bank takes 2-7 working days to approve personal loan requests.

What are the interest rate ranges for Canara Bank 40000 personal loans?

Canara Bank’s 40000 personal loan EMI interest rate ranges from 10.95% to 15.95%.

Can I apply for a 40000 Canara Bank personal loan online?

It is possible to apply for a Canara Bank personal loan online with a salary account or savings account.

Are there any hidden charges in Canara Bank's personal loan agreements?

Canara Bank has no hidden charges on personal loan agreements.

Urban Money