Canara Bank Personal Loan of 50000

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Written By
Utsah Sharma
Utsah Sharma
Utsah Sharma is a seasoned financial expert with a Master’s Degree in Commerce specialising in Financial Services, Investments, Loan Assessments, Mutual Funds, Banking & Loan products. Drawing on her experience, she has established herself as a trusted voice, providing invaluable insights and guidance to seasoned investors and beginners. She is committed to breaking down the complexities of everything 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 for up to 7 years. For a small instant loan of Rs. 50000, the interest rate starts at just 10.95% per annum. The bank also offers quick and hassle-free online loan processing and speedy loan disbursal. To apply for a Canara Bank 50000 personal loan, individuals can visit their nearest branch or apply online through the bank’s website.

Personal Loan Options for 50000 in Canara Bank

Canara Bank offers several types of personal loans.

  • Canara Budget Prime and Canara Budget DelightInstant 50000 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 50000 Personal Loan 

Here are some of the features of Canara Bank’s personal loan of 50000, which make it an attractive choice.

  • Options of fixed or variable EMI.
  • No processing charges on Canara Budget 50000 or greater personal loan EMI plan.
  • High quantumloans starting from 50000 personal loans with instant approval
  • Maximum up to 84 months repayment tenure.

Can I get 50000 personal loan instantly from Canara Bank? 

It is possible to get an instant 50000 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 50000 Loan? 

Here are a few projections of different EMI plans for a 50000 loan at an interest rate of 10.95%.

Canara Bank personal loan of 50000 EMI plan with a repayment tenure of 1 year.

Month Beginning Loan Balance EMI Principal Monthly Interest Outstanding Balance
1 50000 4418 3962 456 46038
2 46038 4418 3998 420 42041
3 42041 4418 4034 384 38006
4 38006 4418 4071 347 33935
5 33935 4418 4108 310 29827
6 29827 4418 4146 272 25681
7 25681 4418 4184 234 21498
8 21498 4418 4222 196 17276
9 17276 4418 4260 158 13015
10 13015 4418 4299 119 8716
11 8716 4418 4338 80 4378
12 4378 4418 4378 40 0

Canara Bank personal loan of 50000 EMI plan with a repayment tenure of 2 years.

Month Beginning Loan Balance EMI Principal Monthly Interest Outstanding Balance
1 50000 2329 1873 456 48127
12 28431 2329 2070 259 26361
24 2308 2329 2308 21 0

Eligibility Criteria 50000 Loan in Canara Bank

Here are the important criteria for 50000 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 50000Canara Bank Loan

Here is a list of the necessary 50000 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 50000 Personal Loan From Urban Money? 

Applying for a Canara Bank personal loan of 50000 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.

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Frequently Asked Question (FAQs)

How long does it take for Canara Bank to approve a 50000 personal loan?

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

What are the interest rate ranges for Canara Bank 50000 personal loans?

Canara Bank’s 50000 personal loan EMI interest rate ranges from 10.95% to 15.95%.

Can I apply for a 50000 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