Canara Bank Personal Loan

Canara Bank

Canara Bank Personal Loan

It is an easy process to avail Canara Bank Personal loan at attractive Interest rate starting from 11.0%. Canara Bank is one of the largest PSU Bank in India with branches across Indian leading cities like Jaipur, Delhi etc. Special preference is given to employees of BSNL with special interest rates of 11.0% onwards. Canara Bank Personal loan is also known as Canara Bank Budget Loan.

Apply for Personal Loan here.

Canara Bank Personal Loan details

Interest Rate

 11.00 %

Processing Fee

 Up to 0.50 %

Loan Tenure

 up to 5 years

Canara Bank Personal Loan EMI Calculator

Click here for the Canara Bank Personal Loan EMI calculator.

About Canara Bank

Canara Bank is one of the largest Public Sector Bank in India. It is headquartered in Bangalore. It has a network of 6,639 branches in India and more than 10,000 ATMs. 

Individuals eligible for Canara Bank Personal Loan

  1. Confirmed employees of reputed PSUs and Joint Stock Companies
  2. Confirmed Central / State Government officials
  3. Lecturers / Asst. Professors / Professors of Colleges / Research Institutions and Universities.
  4. IT/BT Companies.
  5. Employees salary account has to be maintained with our branch
  6. Minimum Net Take Home Salary should not be less than 25% or Rs. 10,000/- per month whichever is higher after meeting the proposed loan instalments.

Personal loan amount eligibility for Canara Bank

Salaried Persons

Six months' gross salary or Rs.3.00 lakh whichever is less.

Professionals and other non-salaried individuals

75% of the invoice value or to the extent of 50% of their annual net income in the immediate previous year or Rs.3,00,000/- whichever is less.

 

Repayment for Canara Bank Personal Loan

  • Repayable in up to 60 months by equated monthly instalments.
  • Repayment will commence from the month following the month in which loan is disbursed.
  • No prepayment penalty charged.

Security required

  • Normally, Co-obligation is required equal to loan amount.
  • However, the next higher authority may waive such personal guarantee / co-obligation depending upon merits of each case.

Documents Required for Canara Bank Personal Loan

  1. Prescribed Personal Loan Application with 2 copies of passport size photographs
  2. Latest Salary Certificate and Form No.16 / ITR/ITAO for last 3 years.
  3. Co-obligation

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