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Canara Bank Personal Loan, Interest Rate and EMI Calculator December 2018

(Updated on 05.12.2018) Canara Bank Personal Loan – Get & Apply Personal Loan from Canara Bank with Low Interest Rates. Check your Eligibility, Documents Required.

Canara Bank Personal Loan – Quick, Easy & Instant Approval Online

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Disclaimer: We do not provide Personal Loans but help you to connect with banks to get best deals.
All loans are on sole discretion on the respective banks

Canara Bank Personal Loan

Canara Bank Personal Loan can be availed for various purposes such as emergency medical expenses, funding higher education, wedding expenses,etc. along with low processing fees, nominal pre-closure fees and convenient loan re-payment options. Canara bank has three prominent and attractive Personal Loans to meet customers requirements, viz: Canara Budget Personal Loan, Canara Bank Teacher’s Loan & Canara Consumers Loan. Get the best deal and choose your perfect personal loan with the Canara Bank Personal Loan Eligibility Calculator.

Canara Bank offers Canara bank Home loan for undertaking repairs, renovation, up gradation, creation of additional amenities with a ceiling of Rs. 15.00 Lacs in case of repairs & renovations

Canara Bank Personal Loan Interest Rate

Interest Rate 12.67%-14.65% (depends on the bank’s discretion and other factors)
Processing Fee 0.50% of the loan amount (Min Rs.1500/- and Max. Rs.10,000/-)
Loan Amount Rs 1 Lakh
Tenure 1 to 5 Years

Canara Bank Personal Loan EMI Calculator

CANARA Bank Personal Loan EMI Calculator

Fill Loan Amount, Interest rate & Tenure in Fields & get Instant Calculation for Personal loan emi within seconds.
Loan Amount
Interest Rate (Reducing) % Per Annum
Loan Tenure (in Months)
 
Monthly EMI
Total Amount with Interest
Flat Interest Rate PA
Flat Interest Rate PM
Total Interest Amount
Yearly Interest Amount

Canara Bank Personal Loan Eligibility

1) Canara Budget Personal Loan

  • Confirmed employees of reputed PSUs and Joint Stock Companies, Confirmed Central/State Government Officials, Lecturers/Asst.Professors/Professors of Colleges/Research Institutions and Universities, employees salary account must be in Canara Bank.

  • Net Take Home Salary should be at least 25% or Rs.10,000/- per month whichever is higher after the proposed EMI.

2) Canara Bank Teacher’s Loan

  • All confirmed teaching / non-teaching staff working in a school / college – drawing salary through Canara bank is eligible for the loan.

  • Net take home amount should be minimum 30% of the gross salary Or Rs. 10,000/- whichever is higher after the proposed EMI.

3) Canara Consumer Personal Loan

  • Canara Consumer Personal Loan can be availed by professionals, businessmen and salaried class.

  • Net take home salary of salaried individuals needs to be 40% of their gross salary or Rs.6,000/- whichever is higher after the proposed EMI. For professionals and other non-salaried persons, the minimum yearly net income should be of Rs.1,50,000 evidenced by Income Tax Assessment Order (ITAO) or Income Tax Return (ITR).

  • For salaried class, salary should be credited at the Canara bank branch. The income of the wife can also be fully shown to meet the eligibility criteria of Canara Bank.

Canara Bank Personal Loan Documents Required

Canara Budget (For Employed)/Canara Teacher’s loan/ Canara Consumers loan

  • Stipulated Loan Application with 2 copies of passport size photographs

  • Latest Salary Certificate and Form No.16 / ITR/ITAO for last 3 years.

  • Co-obligation where applicable

  • Pronote / Pronote Covering Letter

Canara Bank Personal Loan Prepayments

  • NIL Pre-Payments and Pre-closures charge.

  • Other charges may applicable as per parameters set by the bank.

Canara Bank Personal Loan Interest Rates

Scheme Name Description Rate Of Interest Present Interest Rates
CANARA CONSUMER LOAN One Year MCLR + 4.45% 12.90%
CANARA BUDGET With Salary tie-up One Year MCLR + 4.30% 12.75%
Without Salary tie-up One Year MCLR + 5.30% 13.75%
For BSNL Employees One Year MCLR + 2.30% 10.75%
CANARA PENSION One Year MCLR + 3.20% 11.65%
TEACHERS LOAN One Year MCLR + 3.95% 12.40%
CANARA CASH One Year MCLR + 6.45% 14.90%
ALL OTHER PERSONAL LOANS(including Loans to Individuals against other approved securities) One Year MCLR + 5.45% 13.90%

Canara Bank Latest News

(21.06.17)Canara Bank to raise Rs 400 crore from CARE stake sale Canara Bank has decided to sell its stake in the credit rating agency CARE Limited for nearly Rs 393 crore. The state-owned bank plans to sell 8.90% stake. Canara Bank in the bid document said that it proposes to sell 26,22,430 equity shares of CARE, at a floor price of Rs 1,500 per share, comprising of 8.90% of the total paid-up capital of the company. (Sources: indiainfoline)