Canara Bank Home Loan interest rate@8.45% JAN 2017 – Calculate EMI Online

 

(Updated on 04.01.17) Canara Bank Home Loan EMI Calculator JAN 2017 Loansninsurances.com provide a simple tool to calculate your Home Loan EMI on the basis of ✓ Interest Rate ✓ Loan Tenure & Processing Fee.

Canara Bank offers home loans for the purpose of construction / purchase / repairs / additions / renovations of residential house / flat including the purchase of land and construction thereon.

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Canara Bank Home Loan

Canara Bank is a government owned bank headquartered in Bangalore, Karnataka. Canara Bank offers home loan at competitive interest rate and provides to it’s customers lots of exciting features like home loan balance transfer from private sector banks or public sector banks and Non Banking Financial Company , no prepayment charges, minimal documentation as well as quick processing. Canara bank finances up to the sum of 4 year’s gross salary for salaried individuals or the sum of 4 year’s gross annual income for self-employed individuals  or loans up to 5 year’s gross salary or Rs.15.00 lakhs  for repairs or renovations.

Canara Bank Home Loans Interest Rates

Housing Loan

Quantum Of Loan

Rate of Interest (%)

Housing Loans to Agriculturists, Housing Loan to NRIs, Yuva Awas Rin, Housing Loan HNIs Housing Loan to Senior Citizens (Maximum permissible amount Rs.75 Lacs) Pradhan Mantri Awas Yojana (maximum permissible amount Rs.24 Lacs)

Up to Rs. 75 lakhs.

Above Rs.75 lakhs

1 year MCLR

1 Year MCLR+0.50

HOUSING LOAN CRE
(3rd and subsequent dwelling unit)

Up to Rs. 75 lakhs.

Above Rs.75 lakhs

1 Year MCLR+0.50

1 Year MCLR+0.05+0.50

Canara Home Loan Plus

Term Loan

Over Draft

1 Year MCLR+2.80

1 Year MCLR+ 3.30

Canara Site, Canara Cash

1 Year MCLR+6.45

Home Improvement Loan

 

1 Year + 2.45%

Canara Bank Home Loan Features

  • Purchase of a ready made house or flat.

  • Construction of house or flat.

  • Purchase of a site and construction of a house.

  • Undertaking repairs, renovation, upgradation, creation of additional amenities with a ceiling of Rs. 15.00 Lakhs in case of repairs & renovations.

  • Acquiring second house or flat where the borrower is already having a house or flat with or without loan.

Canara Bank Pradhan Mantri Awas Yojna

Canara Bank being one of the largest public sector bank in India provides home loan in compliance with Pradhan Mantri Awas Yojana. The bank provides home loan at comfortable interest rates with minimum processing fee and at flexible home loan tenure.

Avail Canara Bank personal loan at the most competitive interest rates to meet any personal financial requirement such as debt consolidation, funding marriage, medical expenditures , child education, holiday trip expenses, and other genuine expenses.

Canara Bank Home Loan Eligibility Criteria

  • If an applicant is a salaried individual then he or she should be confirmed in the service with minimum service of 3 years.

  • Applicants who are self – employed , should have been in the business or profession for a minimum period of 3 years.

  • A guardian can be appointed on behalf of a minor, by declaring the date of Birth of the minor.

  • At the time of availing the loan , the age of the borrowers should not be more than 55 years.

Canara Bank Home Loan Documents Required

  • Application form with photograph duly signed needs to be submitted.

  • Copy of the approved plan for the proposed construction or extension.

  • Detailed cost estimate or valuation report from Bank’s panel Chartered Engineer or Architect.

  • Sale deeds and agreement for sale is needed to apply for canara bank home loan.

  • In case of salaried individual , salary certificate and Form No. 16 needs to be submitted.

  • If the applicant is non – salaried person, IT Returns filed for the past two years.

  • Self-employed applicants should submit balance sheet and Profit and Loss Account for the past three years.

  • Allotment letter of Co-operative Housing Society /Apartment Owners’ Association / Housing Board / NOC from the Society / Association / Builders / Housing Board.

Canara Bank Home Loan Application

You can apply for Canara bank home loan online through loansninsurances.com . Both existing and new customer can apply for home loan online by logging on to the registration page and completing the application process with the required details.

Canara Bank Home Loan EMI Calculator

 Canara Bank Home Loan EMI Calculator

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

For a loan against the amount of Rs 20,00,000 for 10 years at the interest rate of 9.65% p.a., the EMI comes out as Rs.26,044. To know the EMIs for all the years, see the below given table.

Home Loan Amount ( Rs. )

Interest Rate(% p.a.)

Loan Tenure( years )

Monthly Installment(EMI)

Total Interest Amount

Total Amount (Principal + Interest)

20,00,000

9.65

1

1,75,506

1,06,077

21,06,077

20,00,000

9.65

2

91,967

2,07,210

22,07,210

20,00,000

9.65

3

64,206

3,11,424

23,11,424

20,00,000

9.65

4

50,390

4,18,704

24,18,704

20,00,000

9.65

5

42,150

5,29,029

25,29,029

20,00,000

9.65

6

36,700

6,42,375

26,42,375

20,00,000

9.65

7

32,842

7,58,711

27,58,711

20,00,000

9.65

8

29,979

8,78,003

28,78,003

20,00,000

9.65

9

27,780

10,00,209

30,00,209

20,00,000

9.65

10

26,044

11,25,285

31,25,285

Canara Bank Home Loan MCLR JANUARY 2017

LOAN TENURE

MCLR

Overnight

8.20%

1 Month

8.25%

3 Months

8.30%

6 Months

8.40%

1 year

8.45%

Canara Bank Home Loan FAQs

1) What is meant by security for the loan?

Security means mortgage of house or flat.

2) What is the maximum repayment period for Canara bank home loan?

The maximum repayment period is 30 years.

3) What should be the contribution in case of Canara Bank Home Loan?

Amount of Housing Loans

New House or Flat

Old House or Flat

Up to Rs. 20.00 Lacs

10%

Up to 10 years old -20% More than 10 years old -25%

Above Rs. 20.00 Lacs & up to Rs.75.00 Lacs

20%

Up to 10 years old -20% More than 10 years old -25%

Above Rs. 75.00 Lacs

25%

Up to 10 years old- 25% More than 10 years old-25%

CANARA BANK HOME LOAN BRANCHES IN DELHI
Contact Address IFSC Code MICR Code
Agakhan Hall Sarojini House, Bhagwandas Road, New Delhi 110 001 CNRB0002417 110015045
Plot No.8, Sikka Chambers, B Block Community Centre, Dilshad Garden, New Delhi 110095 CNRB0002686 110015129
Canara Bank, Mehrauli Main Market, New Delhi 110030 CNRB0002018 110015074
Imperial Tower, M S Plot., Flat # Gf/Hle-1 & Bs-1, Coomunity Centre, Naraina, Vihar, New Delhi : 110028 CNRB0002846 110015163
Azadpur, G.T.Karnal Road, New Subji Mandi, Delhi 110 033 CNRB0002006 110015062
No.5A, Herald House , Bahadurshah Zafar Marg, , New Delhi 110 002 CNRB0001850 110015092
Post Bag No.212, Kaisons House, Chandni Chowk, Fathehpuri, Delhi – 110 069 CNRB0000313 110015003
F 19, Connaught Circus, New Delhi – 110 001 CNRB0000143 110015004
Diplomatic Enclave,, 5,Nyaya Marg,Youth Hostel Bld, Chanakyapuri,New Delhi 110 021 CNRB0000157 110015007
Post Box No.495, 74, Janpath, New Delhi 110 001 CNRB0000307 110015014
Pocket A, C S Centre, Mayur Viharphase Ii, Delhi 110 091 CNRB0001956 110015098
No.7, Pocket H&J, Local Shopping Complex, Sarita Vihar 110076 CNRB0002591 110015124
K M Chowk, Sector 12, Dwarika, Delhi – 110045 CNRB0002876 110015166
12/5, East Patelnagar, New Delhi 110 008 CNRB0002010 110015066
F 66, Munirka,New Delhi 110 067 CNRB0001305 110015023
Sadar Bazar, Narain Market, Delhi 110 006 CNRB0000271 110015029
Canara Bank K2 4 Mohan Garden Uttam Nagar New Delhi Delhi Mohan Garden Delhi 110059 CNRB0006060 NA

CANARA BANK HOME LOAN USER QUERIES/TRENDS DECEMBER 2016

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